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bne December 2020 Cover story I 35
its highest level since before the pandemic-induced crash in March.
Data from the ZSE show that the Crobex was up by 1.96% to 1,673 points on November 16 to reach its highest level since mid-June. The Crobex10 rose by 1.88% to 1,048, a level not seen since early March.
The rise in prices followed the vaccine news from Moderna, as the launch of large-scale vaccination programmes
to upgrade Croatia to Ba1, just one notch below investment grade.
Trading activity and prices up
in the Baltics
The Nasdaq Baltic stock exchanges saw an increase in trading activity and a decrease in market prices
as a result of the pandemic.
When the vaccine news broke in mid-November, there was a small increase in both turnover and number
Tallinn index (OMXT) all saw a jump of around 3% on November 9.
However, according to information from Nasdaq Baltic emailed to bne IntelliNews, it is difficult to say how much of that was due to the vaccine. Moreover, the Nasdaq Riga market index (OMXR) does not seem to be affected by the news.
In addition, companies that are reliant on tourist flows such as Tallink and Novaturas saw prices rise. Tallink’s share price climbed by 11.6% between November 9 and 11. Novaturas’ share price was up 8.29% in the same period.
Regional fashion retailer Baltika saw a price and trading activity increase. The first spike in trading activity and price was due to an announcement about financial results, while the second increase in price and trad- ing activity was around the time when the news about the vaccines was published.
Contributions from Iulian Ernst
in Bucharest, Linas Jegelevicius in Vilnius, Wojciech Kosc in Warsaw, Clare Nuttall
in Glasgow and Tamas Szilagyi in Budapest.
“The launch of large-scale vaccination programmes by next spring would mean a rebound for Croatia’s large tourism sector next summer”
by next spring would mean a rebound for Croatia’s large tourism sector next summer, a critical part of the country’s economy. The revival in Croatian stocks also came after Moody’s decision
of trades executed on the market, as well as jumps in some of the Nasdaq Baltic indices – for example, Baltic Benchmark index (OMXBBGI), Baltic 10 index (OMXB10) and Nasdaq
01.09.2020 - 25.11.2020
104%
102%
100%
98%
96%
94%
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