The Croatian Stock Exchange indices showed modest gains last week, with the Crobex index rising by 0.21 percent to 4,430 points and the Crobex10 increasing by 0.06 percent to 2,868 points. The market activity remained subdued, reflecting a lack of major news events during the period. This follows a previous week where the indices had declined by more than 1 percent. Most sectoral indices saw declines, with the Crobexkonstrukt falling by 2.4 percent, while the Crobexnutris rose by 0.9 percent. Regular trading volume amounted to approximately 10.2 million euros, slightly lower than the previous week. Trading in shares of Končara reached a notable level, with a turnover of 3.38 million euros. In regular trading, the company's ordinary share saw the highest turnover of 6.8 million euros, with its price increasing by 0.6 percent to 1,016 euros. Other companies recorded smaller turnovers, with Adris' preferred share showing a turnover of around 368,000 euros, though its price fell by 2.73 percent to 107 euros. Four other stocks saw turnover exceeding 200,000 euros. The price of Končara D&ST’s ordinary share dropped by 1.3 percent to 4,430 euros, while its preferred share fell by 1.2 percent to 4,220 euros. Meanwhile, Atlantic Group’s share increased by 3.2 percent to 51 euros, and Valamar Riviere’s share rose by 1.9 percent to 8.58 euros. Among the more liquid issues, Tokić Group’s shares gained 3.7 percent, and Plava Laguna’s shares climbed nearly 3 percent. On the flip side, Arena Hospitality Group’s shares fell by almost 2 percent. A total of 51 stocks were traded on the ZSE last week, with prices of 23 stocks rising, 21 falling, and seven remaining stable. Trading was calm due to the completion of the domestic companies’ quarterly reporting season and the absence of significant news during the summer holiday period. In Germany, property prices continued to rise, although the pace slowed in the second quarter. According to the Kiel Institute for World Economics (IfW), apartment prices increased by 0.34 percent, and family homes by 1.8 percent. In Düsseldorf, apartment prices rose by 1.2 percent, making it the fastest-growing city among the eight largest German cities. However, in Stuttgart, prices fell by 1.6 percent, likely influenced by the city's deep automotive industry crisis. Official data from Destatis is yet to be released, according to Fenix. Jonas Zdrzalek, an expert at IfW, noted that prices still grow nominally, but the rate has clearly eased. Adjusting for inflation, apartment prices actually decreased by 0.9 percent on average over the three-month period. The Cologne Institute for German Economy (IW) previously estimated that the war in Iran could affect real estate prices through higher interest rates and more expensive financing. Higher borrowing costs deter consumers from investing in real estate, cooling demand and prices. Meanwhile, global markets remain cautious due to renewed oil price increases, prompting investors to fear inflation acceleration and potential hikes in interest rates. Domestic news in Croatia continues to be limited during the summer months, contributing to the subdued trading environment. Investors are waiting for further developments before committing to larger trades.
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