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ZSE indexes take sharp plunge amidst volatile trading

ZAGREB, Aug 8 (Hina) - A sharp plunge of the Zagreb Stock Exchange (ZSE) indices, a perceptible drop in the prices of the most traded stocks and an unusually high volume of regular trading totalling HRK 75.8 million marked developments on the ZSE on Monday.

The Crobex plummeted by 4.57% to close the day at 2,033.85 points, a record low since 13 December 2010, while the specialised Crobex10 index went down by 3.99% to 1,100.59 points, falling for the fifth consecutive day.

Today's trading was affected by heightened risks in the global economy, against the backdrop of the United States' credit rating downgrade and the debt crisis in the euro zone, which was why some of the investors decided to shift investments from shares into safer assets such as the Swiss franc and gold.

During today's volatile trading as many as 18 stocks each made a turnover exceeding one million kuna.

The most traded stock was that of the HT telecom company, generating a turnover of HRK 14.3 million, closing the day at HRK 235 per share, down seven percent. This was the lowest level since mid-September 2009.

The Cakovecki Mlinovi mill and bakery company turned over HRK 7.5 million, with a price drop of 0.30% to close the day at HRK 3,750 per share.

The functional food producer Atlantic Grupa saw a 7.04% drop in the value of its shares, which were traded for 635 kuna per share, turning over 6.1 million.

(1 EUR = HRK 7.434956)

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