Koncar fuels record surge on Zagreb Stock Exchange

Koncar fuels record surge on Zagreb Stock Exchange

The Zagreb Stock Exchange's CROBEX index rose 0.94% to 3,330.89 points on January 10. / ZSE

By Aidą Kadyrzhanova in Prague January 13, 2025

The Zagreb Stock Exchange (ZSE) reached new record highs on January 10, driven by gains in Končar Elektroindustrija.

The CROBEX index rose 0.94% to 3,330.89 points, a five-year high, while the CROBEX10 index increased 0.81% to an all-time high of 2,113.95 points.

Končar led the market with a turnover of €614,000, as its share price climbed 2.80% to €550. The performance reflects a 175% increase over the past year, including an 18.5% rise this week and nearly 33% over the past month.

Brokerage firm InterCapital recently valued Končar shares at €570, issuing a strong 'buy' recommendation based on the company's solid backlog, a new joint venture with Siemens, and high demand for its transformers amid the green transition.

Other notable performers included Zagrebačka Banka, with a turnover of €405,000 and a share price increase of 3.93% to €29.10, and software company Span, whose shares rose 3.85% to €45.90 on a turnover of €288,000.

Despite these gains, the bourse's regular turnover decreased to €2.7mn from €3mn on the previous day.

#croatia #stocks #ZSE #koncar

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