Trading statistics for March show an average daily turnover of EUR 0.9m (-77% YoY). CROBEX ended March in green (+2.3%) at 1,872.22 points.

Relatively low liquidity on the ZSE continued in March as well. To be specific, total equity turnover amounted to EUR 20.85m (or HRK 157.9m). This translates into an average daily turnover of EUR 0.9m, representing a decrease of 77% YoY. Such a high decrease could be attributed to the selloff which occurred in March of 2020 (beginning of the pandemic).

Excluding block transactions, HT generated HRK 21.3m or 16%, while Podravka generated 10,8% (or HRK 14.3m). Valamar Riviera comes third, accounting for 9.1% (or HRK 12.1m). Next come Atlantic Grupa and Atlantska Plovidba with HRK 8.98m and HRK 7.99m respectively. These five shares generated around 48.6% turnover of the whole market (excluding block transactions).

As visible in the graph, of the observed Croatian blue chips, two food companies – Atlantic Grupa and Podravka observed the highest share price increases of as much as 11.7% and 9.56%, respectively. Atlantic Grupa closed the month at HRK 1530 per share, which puts the company at EV/EBITDA of 8.1. HT comes next with an increase of 7%, closing at HRK 192 per share.

On the flip side, Valamar Riviera concluded the month in red (-6.5%).

As a result of the above-mentioned share price performance of Croatian blue chips, CROBEX ended March in green (+2.3%) at 1,872.22 points. Of the sector indices, CROBEXnutris noted the highest increase of 7.74%.

Share Price Performance of Croatian Blue chips in March (%)

To put things into a perspective, this accounts for roughly 14.9% of the company’s 2020 consolidated sales.

AD Plastik announced that they have sealed new deals in Russia with AvtoVAZ worth EUR 10.4m with an estimated project duration of eight years. Deals worth EUR 6.2m have been sealed for this market also with Nissan and the VW Group, with an estimated project duration of six and four years, respectively. For the European market, deals have been sealed with the PSA Group for several vehicles in the total amount of EUR 7.1m, and the estimated project duration is four and eight years.

To put things into a perspective, this accounts for 14.9% of the company’s 2020 consolidated sales.

In this ruling the Supreme Court of the Republic of Slovenia has ruled that the appeal of Telekom Slovenije is partially upheld, and the disputed ruling of the Administrative Court is dismissed in the part in which Telekom Slovenije’s lawsuit was dismissed.

Telekom Slovenije announced that they have received a ruling of the Supreme Court of the Republic of Slovenia, issued on 24 March 2021, in the administrative dispute between the plaintiff Telekom Slovenije and the Slovenian Competition Protection Agency (AVK) in relation to alleged abuse of dominant position on the carrier market.

In this ruling the Supreme Court of the Republic of Slovenia has ruled that the appeal of Telekom Slovenije is partially upheld, and the disputed ruling of the Administrative Court is dismissed in the part in which Telekom Slovenije’s lawsuit was dismissed. In this part the Supreme Court of the Republic of Slovenia returned the matter to the court of first appeal to rule on it again.

This case is related to overturning AVK’s decision no. 306-23/2013-151 of 2 February 2015. As a reminder, the Administrative Court of the Republic of Slovenia issued on 9 January 2018 in the judicial review of administrative acts that Telekom Slovenije filed as the plaintiff against the Slovenian Competition Protection Agency (CPA) seeking to revoke CPA’s decision no. 306-23/2013-151 of 2 February 2015.

The Administrative Court of the Republic of Slovenia partly ruled in favour of the plaintiff, i.e. in the part where Telekom Slovenije is accused of abusing its dominant position in the carrier market of broadband bitstream access in the Republic of Slovenia between 1 July 2005 and 22 September 2008, allegedly imposing additional obligation on alternative operators using its wholesale service of broadband bitstream access, i.e. the end user or operator’s obligation to lease the phone connection, which was unnecessary considering the business practice and the operator’s usual practice. CPA’s decision no. 06-23/2013-151 of 2 February 2015 is therefore revoked in this part, and the matter returned to CPA. The Administrative Court of the Republic of Slovenia rejected the plaintiff in other parts.

In March, BELEX15 recorded an increase of 1.17% and ended the month at 754.40 points.

In March, the Belgrade Stock Exchange reported a turnover of EUR 4m (when observing solely equity), which would translate to an average daily turnover of EUR 174.3k.

The most traded share was Kikindski mlin (block trade) with EUR 968.3k. Alta banka comes next with EUR 747.98k, followed by NIS and Komercijalna Banka (regular) with EUR 579.6k and EUR 348.9k, respectively.

When observing gainers of the BELEX15 index, Dunav Osiguranje recorded the highest increase of 16.55%, followed by Galenika Fitofarmacija with a 3.99% increase. Messer Tehnogas comes next with an increase of 2.90%. On the flip side, Komercijalna banka (pref.) has dropped by 18.9%, followed by NIS and Aerodrom Nikola Tesla with a decrease of 1.42% and 0.20%, respectively.

BELEX15 index recorded an increase of 1.17% and ended the month at 754.40 points.