Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

INA Shares Rise to Record on Return to Crobex10: Zagreb Mover

Oct. 2 (Bloomberg) -- INA Industrija Nafte d.d., the Croatian refiner controlled by Hungary’s Mol Nyrt, rose to a record after the company was reinstated on the Crobex10, the Zagreb stock exchange index of 10 leading companies.

INA’s stock rose 0.3 percent, or 12.25 kuna, to 4,500 kuna at 11:21 a.m. in Zagreb, marking a 27 percent increase since this year’s low on April 6. INA returned to the Crobex10 index yesterday after being excluded for more than a year because of a trading suspension.

“Index funds are buying the stock to rebalance their portfolios after INA was reinstated,” Milan Potnar, an equity analyst at Soc-Gen Splitska Banka d.d., said by phone.

Mol holds a 49.1 percent stake in INA, while the Croatian government owns 44.84 percent. The government in the last two years has attempted to increase its influence in INA, after Mol won controlling rights to Croatia’s largest refiner in 2009.

To contact the reporter on this story: Jasmina Kuzmanovic at jkuzmanovic@bloomberg.net

To contact the editor responsible for this story: James M. Gomez at jagomez@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.