The total turnover on all market segments of the Ljubljana Stock Exchange (LJSE)in July 2002 amounted to SIT 40.15 billion, exceeding June by SIT 8.9 billion. On 16 July 2002 alone, 1,217 transactions were concluded, giving rise to a historical record value of SIT 11.5 billion.
Shares of listed companies made up 61.2% in the structure of the total July turnover, followed by bonds (25.4%), and shares of investment companies, which amounted to 12.8%. There were no transactions concluded with short-term securities, while pension coupons participated with a 0.6% share.During last month, shares of listed companies recorded the most significant rise (+19 percentage points) in the structure of total turnover. Shares of bonds and PIDs, however, were appropriately lowered, by 9 and 10 percentage points, respectively. The share of the official market in July represented 78.7% of the total Exchange turnover (with this year 's average of 67.9%).
In July ,during its 23 trading days 27,845 transactions were recorded, indicating an average of 1,211 trades per day (in average,270 transactions less than the previous month).Most transactions were executed with shares of listed companies (45.6%), and shares of PIDs (42.7%).
The average July daily turnover exceeded this year 's average by 2%, and totaled SIT 1.7 billion.The average value of a single transaction was higher in comparison to this year's average, at SIT 1.4 million (this year 's average - SIT 1 million). If compared to July 2001 value of a single transaction was higher by SIT 345 thousand.
Block trading
In July 2002, Stock Exchange members reported 142 block trades, in total value of SIT 25.4 billion, which represented 63% of overall July turnover. A single block transaction value in July, in average, amounted to SIT 179 million, while an average single transaction, excluding block trades, was SIT 531 thousand.
The most traded securities and the members 'volume of trading In July, the five most traded shares, together with their block trades, belonged to official Transactions with these shares made up 76%of the total July turnover, and 54%of the total Exchange turnover. The most traded bonds in July were bonds of the Republic of Slovenia, of its 38th issue (SIT 3 billion, or one third of the total bond trading turnover). Next were two more issues of bonds of the Republic of Slovenia: its 41st issue,with SIT 1.7 billion, and its 40th issue, with SIT 1.5 billion. The 2nd issue bond of Slovenska odškodninska družba also excedeed SIT 1 billion in its July turnover, as opposed to PIDs'shares; among them, the most traded were those of Triglav steber 1 (with SIT 0.8 billion), and Maksima 1 (SIT 0.6 billion).
The ten most active Exchange members concluded 80% of the total turnover in July, which is by 14 percentage points more than in June. Cogito BIS, Perspektiva BPD,Nova Ljubljanska banka and Abanka were responsible for 56% of the turnover on the Exchange.
Indices
In July 2002, the value of all three leading Ljubljana Stock Exchange indices was slightly lowered. However, by the end of the month, they all started to improve. The blue chip index, SBI 20, lost 3.1% during the month. It gradually declined to 2,699.82 points (on July 24) from its value on the first trading day of July of 2,845.60 points. By the end of the month, it gained 83 points and finally reached 2,783.3 points. The IPT Index fell by 3% in a month. Out of the total of 23 trading days ,it ended in the negative on 12 of them, and finished the month at 2,176.10 points. Its lowest value was recorded on 26 July,at 2,103.66 points.
In July 2002, the Authorised Investment Funds Index -PIX lost 3.9 % in its value. It had been in decline by 24 July, when it also recorded its lowest value, at 2,163.67 points. Similarly to SBI 20,however,its value rose somewhat during the last trading week and thus ended the month at 2,218.70 points.
Despite the overall downward trend during last month ,levels of yearly yield for all three indices remained positive. In comparison to 31 July 2001,value of the PIX Index grew most (+57%),followed by SBI 20 (+46%)and IPT Indices (+41%).
In July, the Bond Index - BIO - gained in its value for the second month running (0.1%), however, with a negative yearly yield (-0.9%).
Only one Industrial Sector index grew in value in July - Food and Beverages - which gained 1.5%, mostly due to the shares of Pivovarna Union. Other indices ended the month at a loss. Transport (-5.7% )and Trade (-5.7%) headed the list, while other indices -Pharmaceuticals (-4.5%), Oil and Gas (-2.8%) and Chemicals (-2.5%) did only slightly better.
Price movements of selected shares
Prices of six shares, out of thirty-eight shares listed altogether on the official market, increased in July. Over the month, the Banka Vipa preferered share grew most, by 13%, however, there were only three transactions concluded in total value of SIT 50 million. Second was Pivovarna Union, which gained 11.5% during the month. Only shares of Delo (+2.8%)and Kolinska (+1%) were among those more frequently traded shares that also rose somewhat in value. The prices of thirty other shares, though, fell during last month. Shares of Kompas MTS again lost the most - n additional 10.8%; shares of Banka Koper fell by 8.8%, very much like Geodetski zavod Slovenije (-8.7%) and Mercator (-8.5%). Year-on-year, the value of thirty-four shares on the official market rose during the last twelve months. The highest gainer was Nika (+122%), followed by Kolinska (+110%) and Salus (+107%).The value of shares of Geodetski zavod Slovenije increased exactly by 100%. Four shares , however,decreased in value :Banka Koper (-43%), Tehnounion (-30%), next were shares of Kompas MTS (-6%)and Delo Prodaja (-1%).
Foreign investments
Net outflow of all foreign investments (including direct and portfolio investments into shares and bonds, but no primary issues) totaled SIT 2.7 billion (in June, inflow was SIT 2.7 billion). Organised market contributed SIT 1.46 billion to the total outflow, and off-the-organised market made up for SIT 1.3 billion. Among the most frequently traded securities, foreign ownership level decreased most considerably in Pivovarna Laško (-2.1%),and in Lek (-1.2%). In July, foreign investors accounted for 8.0% of the turnover of shares on the Exchange. Foreign ownership made up10.03% in the market capitalisation of shares of Slovenian companies at the end of July 2002.
Market capitalization
On 31 July 2002, the total market capitalization of all securities traded on LJSE (together with shares of investment companies - SIT 210.1 billion) reached SIT 1,805 billion, which was by SIT 26 billion (or by 1.4%) less than previous month. In comparison to June 2002, capitalisation of bonds increased by 4%, whereas capitalisation of both shares (-3.6%),and PIDs (-4.1%) decreased. Pension coupons experienced a 12.3% rise in their capitalisation (as opposed to June, when its level fell by 24%). Rise in bonds capitalisation, however,was mainly due to the admission of new Republic of Slovenia issues to trading on the Exchange; other securities were capitalised according to price movements.
Year-on-year ,market capitalization of shares listed on the official market grew from SIT 631 billion to SIT 833 billion (by 32%). In the from SIT 129 billion to SIT 212 billion.On 31 July,market capitalisation of all shares traded on the Exchange amounted to SIT 1,045 billion and thus represented 22.9% of GDP for the year of 2001 - SIT 4,566 billion (at current prices); data was provided by the Statistical Office of the Republic of Slovenia.
