The issuance would be done in order to optimize the capital structure of the Group.

Sava Re published a document on the Ljubljana Stock Exchange announcing that they are considering options for issuing subordinated Tier 2 bonds. The mentioned issuance would be done in order to optimize the capital structure of the Sava Insurance Group. The Company notes that they will decide on whether to move forward with the bond issue after examining all market conditions.

The Scheduled Maturity would be 2039, while optional redemption would occur in 2029 and any floating interest payment date thereafter.

As a reminder, as of 31 December 2018, the Group’s eligible own funds to meet the Group Solvency Capital Requirement amount to EUR 471.9m, of which the whole amount refers to Tier 1. As of 31 December 2018, Sava Re stands at solid capitalization levels, with Solvency ratio at 218% (EUR 255.2m).

Trading statistics for Q3 2019 show an average daily turnover of EUR 1.9m (+87% YoY).

The Zagreb Stock Exchange (ZSE) published their trading statistics for Q3 2019, showing a total equity turnover of EUR 122.18m. This translates to an average daily turnover of EUR 1.9m (+87% YoY). Such a high increase in turnover could be attributed to mostly to Kraš, whose share observed a turnover of HRK 372.4m. To read more about it click here.

Of the total traded value traded in the period (excluding block transactions), Kraš generated 45%, followed by Valamar Riviera with 6.6%, HT with 5.8%, Optima Telekom with 5.6%, Adris with 5.3%. These 5 shares generated more than two thirds of the turnover recorded by the entire (equity) market. When observing the total equity market capitalization, it observed an increase of 7.4% YoY, amounting to HRK 145.5bn. Ina’s share is the biggest constituent of the total exchange’s equity market capitalization, accounting for about 21.8% of the total value. Next, come two Croatian banks – Zagrebačka banka and PBZ with 13.2% and 10.3%, respectively. Further, HT holds 9.4% while Adris accounts for 4% of the total market capitalization value.

When compared to the beginning of the month the main index CROBEX recorded a sharp increase of 4.27%, ending at 1,963.54 points. Such an increase could mostly be attributed to the rise in share price of Podravka, Atlantic Grupa and Končar, which combined hold more than a third of the weight in the index.

Of the sector indices, CROBEXtransport recorded the highest decrease of 19.4%. It is worth noting that on 1 October, ZSE announced a temporary cessation of calculation of the index, as Uljanik Plovidba was excluded from the index, leaving only Atlantska Plovidba in it.

Trading statistics for September 2019 show an average daily turnover of EUR 7.3m (-10.8% YoY).

The Bucharest Stock Exchange published their trading statistics for September 2019, showing an average daily turnover of EUR 7.30m. This represents a decrease of 10.8% YoY.

When observing the top traded shares, one can notice that Banca Transilvania recorded the highest turnover of RON 180.9m. Fondul Proprietatea follows with a turnover of RON 127m. BRD Bank and Romgaz come next with a turnover of RON 105.3m and RON 87.3m, respectively.

Of the BET index components, Bursa (BVB) observed the highest share price increase in September of 13.92%. Romgaz follows with an increase of 8.99%. Next comes Sphera Franchise Group with an increase of 7.14%. On the flip side, Electrica observed a decrease of 1.33%.

Turning our attention to the main index of the BVB, in September, BET observed an increase of 3.67%, amounting to 9,574.37points.

Average Daily Turnover (Jan – Sep 2019) (EUR m)

The MoU regards the cooperation for the development of the 4th Generation reactor, ALFRED.

Nuclearelectrica published a document on the Bucharest Stock Exchange announcing that they have signed a Memorandum of Understanding with the FALCON Consortium (Ansaldo Nucleare, ENEA and ICN) regarding the cooperation for the development of the 4th Generation reactor, ALFRED. The goal of the Memorandum of Understanding is to set a cooperation framework between the two parties regarding the preproject works and the research and development activities which are to be implemented in order to develop the ALFRED project.

The company states that they together with the FALCON Consortium agreed on: the exchange of information and data regarding the technology of fast-neutron reactors, by using molten lead as a cooling agent, the coordination of the research activities, the in-kind contribution depending on the expertise and capabilities of each party, the studies and analyses independently conducted by each party for their optimization, and the planning of the necessary framework for preparing the demonstrative activities.