Trading statistics for November 2019 show an average daily turnover of EUR 1.79m (+66% YoY). Meanwhile, the major index CROBEX ended November with an increase of 0.44% ending at 1,995.61 points.

The Zagreb Stock Exchange (ZSE) published their trading statistics for November 2019, showing a total equity turnover of EUR 35.7m (HRK 265.2m). This translates to an average daily turnover of EUR 1.79m (+66% YoY). Of that HRK 68.2m refers to block transactions which recorded an increase of 258.1% YoY. Such a high increase could be attributed to HRK 54.47m of shares of Čakovečki Mlinovi traded in November as a block transaction.

Of the total value traded in the period (excluding block transactions), Kraš generated 26.3%. Kraš has once again observed a solid increase in turnover, mainly by the end of November when more than HRK 30m of Kraš was traded. By the end of November, MI Pivac signed a Sale and Transfer Agreement with Kraš ESOP, through which they acquired an additional 18.45% stake in Kraš. As a result, MI Pivac currently have a 49.16% stake in Kraš and 51.8 % of voting rights (5.1% of shares are in treasury). To read more about it click here.

Arena Hospitality Group comes second, accounting for 10.7% of the total traded volume. Next come Valamar Riviera and Adris with 10.1% and 9.4%, respectively. HT follows with 5.1%. These 5 shares generated 61.6% of the turnover recorded by the entire (equity) market, excluding block transactions.

When observing the total equity market capitalization, it observed an increase of 9.1% YoY, amounting to HRK 147.2bn. Ina’s share is the biggest constituent of the total exchange’s equity market capitalization, accounting for about 21.7% of the total value. Next, come two Croatian banks – Zagrebačka banka and PBZ with 13.5% and 10.5%, respectively. Further, HT holds 9.5% while Adris accounts for 3.8% of the total market capitalization value. When compared to the beginning of the month the main index CROBEX witnessed a slight increase of 0.18%, ending at 1,995.61 points. CROBEX10, consisting of top 10 CROBEX shares by free float market capitalization and turnover, observed an increase of 0.44%. The highest increase of all sector indexes was realized by CROBEXindustrija – the index where its six constituents operating in industrial production have equal weights. The highest price increase among constituents in the month was realized by Varteks share, namely 7.34%. On the flip side, CROBEXnutris recorded a decrease of 10.16%, due to a sharp decrease of Kraš’ share price after MI Pivac acquired shares of Kraš ESOP. To read more about it, click here.

Average Daily Turnover on the ZSE (EUR m)

In November, the Belgrade Stock Exchange observed an average daily turnover of EUR 12.28m (+18.7% YoY). Such a high increase in turnover could be attributed to the Serbian state purchasing additional 34% of Komercijalna Banka.

The Belgrade Stock Exchange reported a turnover of EUR 245.6m in November 2019 (when observing solely equity), which represents an increase of EUR 242.1m. This would translate to an average daily turnover of EUR 12.3m.

Such a high increase in turnover could be attributed to the Serbian state acquiring additional 34% stake in Komercijalna Banka at RSD 4350 and RSD 4508 per share (EUR 217.1m). Following the mentioned transactions, the Republic of Serbia will own 83.2% of the bank, which will enable the privatization of the Bank under the ongoing privatization process. By acquiring the mentioned shares, the state has fulfilled its obligation (put option) as part of the current sale of the bank, which was defined in 2006. To read more about it click here.

In November, the most traded share (excluding block transactions) was Galenika Fitofarmacija with a turnover of EUR 23.3m. Such a high turnover on Galenika could be attributed to the ownership consolidation in the company. Next come Komerijalna Banka with EUR 1m and NIS with EUR 0.6m.

When observing gainers of the BELEX 15 index, Komercijalna Banka recorded the highest increase of 9.04%, followed by NIS with an 8.33% increase. Jumbes banka comes next with an increase of 6.5%. On the flip side, Energoprojekt holding recorded the highest decrease of 4.41%.

Turning our attention to BELEX15, the index observed a solid increase of 2.81%, ending at 770.92 points. Note that this is the fifth time this year that the index ends the month in green.