Koncar lifts Croatian equity indices, Zvecevo extends gains

ZAGREB (Croatia), April 25 (SeeNews) - The main equity indices of the Zagreb Stock Exchange (ZSE) rebounded on Thursday on strong gains in electrical concern Koncar Elektroindustrija [ZSE:KOEI], bourse data showed.

The 21-share benchmark CROBEX advanced 0.71% to 2,805.17 points.

The narrower equity index CROBEX10, which tracks the top ten issuers in terms of free float, market capitalisation and liquidity, went up 1.19% to 1,705.34 points.

Ordinary shares of power transformers manufacturer Koncar Distributivni i Specijalni Transformatori (Koncar D&ST) [ZSE:KODT], which are part of the wider equity index, generated the biggest daily turnover, 337,900 euro ($362,500). They appreciated 4.05% to 1,540 euro on the news that the company’s net profit soared 273% on the year in the first quarter of 2024.

Preferred shares of Koncar D&ST [ZSE:KODT2] ranked second by turnover with 311,400 euro. They appreciated 3.40% to 1,520 euro.

Koncar D&ST is a unit of Koncar Elektroindustrija.

Blue-chip shares of Koncar Elektroindustrija increased 3.91% to 266 euro in a turnover of 261,900 euro.

Just like on Wednesday, confectionery producer Zvecevo [ZSE:ZVCV] was the biggest daily gainer. Its share price on Thursday rose 39.47% to close at 21.20 euro on the news that its majority shareholder, businessman Zdravko Alvir, finalised on April 22 a transaction to sell his stake in it for 6.65 million euro.

The total bourse turnover reached 2.4 million euro from 837,400 euro on Wednesday, boosted by a block deal of 271,040 euro with shares of Hrvatska Postanska Banka [ZSE:HPB].

($ = 0.932 euro)