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The total turnover of all market segments of the Ljubljana Stock Exchange (LJSE) in April 2003 amounted to SIT 21.1 billion, which was 15.1% less than the previous month and SIT 19.0 billion less compared to the previous year's monthly average. Compared to April 2002, the turnover decreased by half (-SIT19.8 billion).
In April 2003, shares contributed 46.9% to the overall turnover while bonds contributed 41.6% and shares of investment funds 11.5%. There were no transactions concluded in short-term securities. Within the first four months of 2003, the most of theLJSE turnover included bonds (42.7%).
During the 21 trading days in April, there were 25,430 transactions concluded, or on average 1,211 trades per day; a decrease by 622 trades compared to the previous year's monthly average.
In April, the average daily turnover was SIT 1.0 billion. Last year's average was SIT 941 million. The average value of a single transaction in April was SIT 831 thousand, an increase of SIT 67 thousand, in comparison to the month before.
Block trading
In April 2003, the Stock Exchange members reported 69 block transactions, with a total value of SIT 9.3 billion; 44.1% share of the total monthly turnover which was comparable to last year's average. The average value of a block transaction was SIT 135 million, while the average value of a single trade, with block trades excluded, was SIT466 thousand.
Indices
The official market index - SBI 20 - lost 0.15% of its value in April, and ended in the red for the fourth month running. At the beginning of the month, its value slowly increased, and reached the highest value on 7 April at 3,234.11 points, but then decreased by 56 points. The index was very stable, its value altered by mere 0.3% per day, in average. The SBI 20 Index rose in value by17.0%during the last twelve months.
In April, the IPT Index lost 1.58% of its value, rather similar to the month before. On the last but one trading day of the month (on 29 April), it fell under the level of 2,635.36 points, the value with which it had ended the previous year. During the last twelve months, the index gained 20.7% of its value.
The value of the PIX Index (Investment Funds Index) in April decreased by 2.38% (as opposed to exactly the same percent the month before, but on the increase). The index had been experiencing a decline during the whole month, and ended only 8 days with positive results. The PIX Index gained altogether 12.75% during the last 12 months.
Following two consecutive record-breaking months, the Bond Index (BIO) lost 0.08% of its value in April, but nevertheless ended the month by 5.6% above its year-end value in 2002. Within the last twelve months, the BIO Index gained 3.1% of its value.
Out of the five industrial sector indices, in April the indices of Trade (+2.1%) and of Transport (+0.8%) rose in their values. Others experienced some losses: value of the Food and Beverages Index fell by 3.3%, followed by the Chemicals (-1.4%) and the Oil and Gas Indices (-0.5%).
Price movements of selected shares
On the official LJSE market, prices of sixteen shares, out of the total of thirty-three, increased in April, among them - shares of GPG (+9.3%), and shares of Kompas MTS (+8.3%), Etol (+7.3%), and Žaivila (+3.5%). Prices of fifteen shares, however, fell during the last month. Shares of Geodetski zavod Slovenije decreased in value the most, by 10.7%. Next were preferred shares of Probanka (-6.6%), and common shares of PivovarnaUnion(-5.7%) and of Žaito(-3.2%).
Year-on-year the prices of twenty-four shares from the official market increased during that period. The highest level of growth was displayed by the shares of Droga Portorož` (+46.8%), Comet (+40.6%) and of Tehnounion (+39.5%). Prices of eight shares decreased, with Emona obala Koper (-33.9%) in the lead, and followed by shares of Kompas MTS (-24.3%) and of Žaivila Kranj (-11.8%).
Foreign investments
Net inflow of all non-residents' investments (including direct and portfolio investments into shares and bonds, but without primary issues) totalled SIT 9.06 billion; the organised market outflow was equal to SIT 27.4 million, and the off-the-organised market demonstrated an inflow of SIT 9.09 billion. In April, foreign investors participated with 5.19% in the turnover structure of shares on the organised market at LJSE. The level of foreign ownership in shares of Slovenian companies (according to the market capitalisation as of the last day of the month) was 7.23% at the end of April 2003, and increased the most with Javor Pivka (+0.2 percentage point) and with Velana (+0.2 percentage point). On the other hand, foreign ownership was most considerably decreased with Krona holding (-0.3 percentage point) and Etra 33 (-0.1 percentage point).
Market capitalization
On 30 April 2003, the sum market capitalization of all securities traded on the Ljubljana Stock Exchange (together with shares of investment funds - SIT 228.09 billion) amounted to SIT 1,985 billion, which was by SIT 19.8 billion more (or by 1.0% more) than last month. The capitalisation of bonds was perceivably higher in April (+3.7%), and contributed the most to the total capitalisation, together with the listing of two new issues of bonds of the Republic of Slovenia (the 52nd and the 53rd issues).
In the period of one year, the market capitalisation of shares on the official market decreased from the initial SIT 840.4 billion to SIT 808.4 billion (by 3.8%). The capitalization of shares of the free market, however, increasedby 17.2%, from SIT 198.1 billion to SIT 232.1 billion.
On 30 April 2003, the market capitalisation of all shares traded, without the shares of investment funds (SIT 1,040.5 billion), represented 19.7% of the GDP for the year 2002 - SIT 5,284 billion (at current prices), according to the data by the Statistical Office of the Republic of Slovenia.
