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FIMA Daily Insight
Thursday,
January
15,
2015
Croatia
ZAGREB STOCK EXCHANGE
C ROBEX Last
daily
YTD
C ROBEX10 Last
daily
YTD
Stock Turnover (EUR m)
MkC ap(%of GDP)
Source:www.zse.hr
1.787,94
0,59
2,43%
1.029,79
0,75
2,25%
0,96
56,91%
LJUBLJANA STOCK EXCHANGE
SBI TOP Last
779,54
daily
-0,26%
YTD
-0,58%
Stock Turnover (EUR m)
1,75
MkC ap(%of GDP)
50,95%
Source:www.ljse.si
BELGRADE STOCK EXCHANGE
BELEX15 Last
656,56
daily
-0,36%
YTD
-1,57%
BELEXline Last
1.328,68
daily
-0,50%
YTD
-1,20%
Stock Turnover (EUR m)
0,19
MkC ap(%of GDP)
23,69%
Source:www.belex.rs
BUCHAREST STOCK EXCHANGE
BET Last
7.014,14
daily
-0,52%
YTD
-0,97%
BET BK Last
1.308,75
daily
-0,31%
YTD
0,04%
BET TR Last
7.659,69
daily
-0,52%
YTD
-0,97%
Stock Turnover (EUR m)
5,24
MkC ap(%of GDP)
21,47%
Source:www.bvb.ro
Croatian equities closed higher yesterday with both indices increasing; CROBEX increased
0.59% to 1,787.94 pts and blue chip CROBEX 10 advanced 0.75% to 1,029.79 pts. Regular
stock turnover amounted to HRK 7.9 million. (Positive)
Tobacco and tourism Adris group (ADRSPA CZ) topped the liquidity board collecting HRK 1
million in turnover and its price decreased 0.28% to HRK 349.0.
The World Bank cut its outlook for Croatia's gross domestic product (GDP) growth this year to
a real 0.5% from the 1.2% it projected in June. The bank's GDP forecast for 2014 remains
unchanged, showing a contraction of 0.5%. (Negative)
Croatian port operator Luka Rijeka [ZSE:LKRI-R-A] said on Wednesday that together with
Adriatic Gate Container Terminal (AGCT) handled a total of 4,140,081 tonnes of dry cargo in
2014, up 15% compared to the 2013. In 2014, Luka Rijeka handled a total of 2,773,412
tonnes of dry cargo, up 17% compared to the 2013. (Positive)
Shareholders of Hidroelektra niskogradnja (HDEL-R-A) on Extraordinary General Assembly
which will be held on 25th February will decide on following proposals: a) decision on the
replacement of shares with face value in shares without face value; b) decision on the share
capital decrease from the amount of HRK 31.2 m for the amount of HRK 21.8 m to the amount
of HRK 9.4 m (divided in 623,881 ordinary shares, without face value) due to covering of
losses from previous periods; c) decision on offer from Russian businessman Sergej Gljadelkin
for recapitalization of the company in the amount of HRK 30 m (HRK 15.00 per share;
2,000,000 new ordinary shares); d) decision on share capital increase in money from the
amount of HRK 9.4 m for the amount of HRK 30 m to the amount of HRK 39.4 m (divided in
2,623,881 ordinary shares, without face value). (Positive)
Croatian hotel group Suncani Hvar [ZSE:SUNH-R-A] said on Wednesday its shareholders have
approved halving its capital to HRK 166.83 million ($25.63 million/21.7 million euro) to cover
prior losses. The shareholders also approved plans to then raise the company's capital by up to
HRK 221.5 million through the issue of a maximum of 1,077,497 new shares with a par value
of HRK 20 each, Suncani Hvar said in a filing to the Zagreb bourse. The company plans to
cover the remaining HRK 76.4 million in accumulated losses from future earnings. The hotel
operator's biggest shareholder as of January 13 was Orco Property Group with 26.47%,
followed by Prime Tourist Resorts with 24.9%. (Positive)
Slovenia
Slovenian financial services group KD said on Wednesday that multiple buyers are interested in
the purchase of shares of local reinsurer Sava Re [LJE:POSR] owned by insurer Adriatic
Slovenica and mutual funds managed by KD Funds. Adriatic Slovenica and KD Funds are both
subsidiaries of KD Group. Last week, news daily Dnevnik reported, quoting unnamed sources,
that KD was in talks to sell over 8.0% in equity holdings in Sava Re to Croatian diversified
conglomerate Adris Grupa [ZSE:ADRS-R-A]. (Positive)
The bidding deadline for the sale of Slovenian aircraft maintenance firm Adria Airways Tehnika
has been extended until the beginning of March, one of its co-owners, airport operator
Aerodrom Ljubljana [LJE:AELG], said on Wednesday. The deadline was extended due to
expressed interest from potential additional bidders. (Positive)
Serbia
Accounts from Srpska banka will not be transferred to Postanska stedionica but clients will
have option to transfer them to other banks, state secretary at the Ministry of Defense, Zoran
Djordjevic has said for Beta agency. In line with the decision of the Government of Serbia,
Srpska banka will, as of February this year, become the bank for solely special industry and
their branch offices, except from the one in Belgrade, will shut down. (Neutral)
Romania
OMV Petrom, the largest oil and gas company in Romania, and US company Exxon Mobil
currently evaluate the size and the commercial viability of the gas reserves discovered by the
exploration well Domino-1 in 2012 in the Black Sea, according to one of the directors of the
Austrian energy group OMV. The exact gas volume will be known only after the evaluation
program will be completed in a year or two, he added. (Positive)
The World Bank estimates that Romania`s economy will grow by 2.9% in 2015 (vs. 3.2%
previously), but is expected to accelerate to 3.2% in 2016 (vs. 2.9% previously). (Neutral)
For more information please contact us via mail trading@fima.com or on tel. +385 42 66 09 64
1
FIMA Daily Insight
Thursday,
TOP 5 Companies ZAGREB STOCK EXCHANGE
turnover (HRK)
by price - Gainers (CROBEX)
Symbol
Price
Volume (mln)
C hange
Symbol
Price
C hange
ADRS-P-A
349,00
0,95
-0,28%
DLKV-R-A
15,20
DLKV-R-A
15,20
0,79
6,74%
DDJH-R-A
37,70
HT-R-A
153,51
0,69
-0,32%
INA-R-A
PODR-R-A
300,00
0,57
2,39%
RIVP-R-A
20,69
0,47
0,93%
January
15,
2015
14 January 2015
by price - Decliners (CROBEX)
Symbol
Price
C hange
6,74%
JDPL-R-A
106,00
-2,76%
4,72%
ATPL-R-A
327,00
-1,96%
3.799,00
3,37%
VART-R-1
24,00
-1,44%
VPIK-R-A
83,40
2,46%
ULPL-R-A
151,00
-0,66%
PODR-R-A
300,00
2,39%
HT-R-A
153,51
-0,32%
TOP 3 Companies LJUBLJANA STOCK EXCHANGE
turnover (EUR)
14 January 2015
by price - Decliners
by price - Gainers
Symbol
Price
Volume (000)
C hange
Symbol
Price
C hange
Symbol
Price
C hange
ZVTG
24,10
715
0,42%
KSFR
0,27
3,85%
SAVA
0,40
-11,31%
KRKG
56,99
416
-0,25%
ZTOG
135,00
2,27%
IEKG
1,08
-2,88%
LKPG
23,00
137
-0,95%
IALG
64,17
1,20%
APAG
38,00
-2,56%
TOP 3 Companies BELGRADE STOCK EXCHANGE
turnover (RSD)
14 January 2015
by price - Decliners
by price - Gainers
Symbol
Price (RSD)
Volume (000)
C hange
Symbol
Price
C hange
Symbol
Price
C hange
NIIS
740,00
10.448
-0,54%
JMBN
3.300,00
3,13%
PRGS
20,00
-20,00%
AERO
928,00
1.191
-0,54%
BIPB
55,00
1,85%
PLNN 20.150,00
-8,96%
ALFA
19.106,00
420
-3,75%
MLSU
0,00
0,00%
TOP 3 Companies BUCHAREST STOCK EXCHANGE
turnover (RON)
VDAV
3.850,00
-8,33%
14 January 2015
by price - Decliners
by price - Gainers
Symbol
Price (RON)
Volume (000)
C hange
Symbol
Price
C hange
Symbol
Price
C hange
FP
0,9
4.548
-0,41%
C AOR
2,289
14,97%
NEP
34
-12,60%
TEL
28,3
4.276
-1,01%
C BC
6,5
14,89%
IMP
1,426
-4,30%
TLV
2,0
2.747
0,00%
EPT
0,049
11,36%
AMO
0,007
-4,11%
For more information please contact us via mail trading@fima.com or on tel. +385 42 66 09 64
2
FIMA Daily Insight
Thursday,
January
Long-term credit
rating
Croatia
Slovenia
Serbia
Romania
Fitch
BB
BBB+
B+
BBB-
Standard&Poors
BB
A-
BB-
BBB-
Moody's
Ba1
Ba1
B1
Baa3
15,
2015
Exchange rates
FX RATE HRK per EUR
0,1306
FX RATE RSD per EUR
0,0086
FX RATE RON per EUR
0,2300
FX RATE EUR per USD
1,3400
Investment stories
Hotel Imperial (HIMR-R-A) - privatization process in final stage
Telekom Slovenije (TLSG) - privatization process in second stage
Corporate events
13.02.2015 Petrokemija (PTKM) – unaudited annual report 2014
31.03.2015 Atlantic Group (ATGR) – audited annual report 2014
For more information please contact us via mail trading@fima.com or on tel. +385 42 66 09 64
3
FIMA Daily Insight
Thursday,
January
15,
2015
CONTACTS FOR INSTITUTIONAL INVESTORS
IRENA FIŠTREK
ifistrek@fima.com
KREŠIMIR ČULO
kculo@fima.com
+38542 66 09 64
+385 1 63 98 357
TRADING DEPARTMENT:
trading@fima.com
+385 42 66 09 60
RESEARCH DEPARTMENT:
NIKOLA BAKŠAJ
nbaksaj@fima.com
+385 42 66 09 74
DISCLAIMER
FIMA Daily Insight is a daily publication of FIMA Securities Ltd. which comments for the needs of its users dynamics of
trading financial instruments on capital markets in the Republic of Croatia, transfers and publishes parts or entire
selected news from various publicly available sources and media of interest for the investor community, and offers
overview of the selected parameters of financial instruments trading on Zagreb Stock Exchange, as also selected basic
macroeconomic indicators. The content uses publicly available records published by the selected relevant sources and
public information services (Zagreb Stock Exchange, Bloomberg, Reuters, publicly available financial reports of the
Issuer, publicly available opinions of representatives of the Issuers etc.). Although we believe that the stated
information and other records are reliable, we do not guarantee for their accuracy, completeness or timeliness. The
publication has been of informative character and may not be deemed to be an invitation for purchase or sale of
financial instruments being mentioned in it. Prices of financial instruments, and there from also return on investment
from financial instruments may vary and cause profit or loss. Investment in financial instruments commented in this
publication include certain risk (more about risks available in General Operating Conditions at Internet page
(http://www.fima-vrijednosnice.hr/UserDocsImages/General%20conditions_FMVR%20novo.pdf), financial instruments
are not necessarily available in all legal-regulatory environments, they may be illiquid and may be inadequate for
some investors. Value or profit realized based on any financial instrument may vary and/or be under the influence of
exchange rate differentials and other risks. Investment returns from the history are not indicators of future returns.
Investors should independently make their decisions on investment, without relying on this publication. By publishing
this publication FIMA Securities Ltd. does not bear any responsibility for the consequences, or for the possible
damages resulted from usage of the information and records published in this publication. Single opinions stated in
this publication may change without prior notice.
This publication has not been prepared in compliance with the provisions of the Capital Market Act, and the
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considered to be promotional communication.
All significant sources of information used in preparing of this publication were stated in its text.
In preparing this publication the results of the fundamental and technical analysis may be used including also
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methodology shall be presented and publicly available to the investors at the Company's web page www.fimavrijednosnice.hr or in the other legally permitted manner.
The seat of the Company FIMA Securities Ltd. is in Varaždin, Vrazova 25, whereas the operating of the Company has
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FIMA Daily Insight is prepared by the employees of FIMA Securities Ltd.
The first issue of FIMA Daily Insight was issued on 16TH January 2009
Additional information is available upon request.
For more information please contact us via mail trading@fima.com or on tel. +385 42 66 09 64
4