The total turnover (excluding block trading) on all market segments of the Ljubljana Stock Exchange (LJSE) in April 2005 amounted to SIT 9.6 billion. The turnover in April was 42.4% lower than last year’s average. In comparison to April 2004, the total turnover decreased by SIT 11.0 billion (-53.4%).
In April 2005, shares of joint-stock companies amounted to 64.2% of LJSE turnover structure. Bonds came second with a 20.6% share of turnover, while investment funds shares followed, trading in the amount of 15.2% of total turnover. The turnover structure has not changed significantly in the last month.
During the 20 trading days in April, a total of 20,095 transactions was concluded. On average, this amounts to 1,005 transactions per day, or rather 27.2% less than the average for last year. The average daily turnover in April amounted to SIT 479.9 million, which is 38.8% less than last year’s average.
Block trading
LJSE members reported 103 block transactions amounting to SIT 23.5 billion in April 2005. The total monthly turnover of registered block trades thus exceeded the BTS system turnover by SIT 13.9 billion. The average value of a single registered block transaction in April was SIT 227.7 million, while the average value of a single transaction without the block trades amounted to SIT 477,700.
Indices
The SBI 20, the official market index, lost 2.5% of its value in April. It reached its monthly high on 1 April at 4,865 points, with its low coming on 20 April at 4,626 points. The index ended only nine trading days on a positive note and ended the month at 4,735 points. In the last twelve months, the SBI 20 grew by 1.4%.
The Investment Funds Index - PIX lost 0.5% of its value in April. The index fell gradually through the course of the month and, much like the SBI 20, ended only nine days on a positive note. In the last twelve months, the index lost 0.7% of its value.
In April, the Bond Index (BIO) grew by 0.1%. In the last twelve months, the index grew by 3.6%. The index finished the most number of days on a positive note (twelve) out of all the LJSE indices. In the last twelve months, the index grew by 3.6% and is therefore the most profitable index on the LJSE in this period.
Price movements of selected shares 4. News of the month
ISSUE P / E (1) DIVIDEND MARKET TURNOVER On the official market of the Ljubljana Stock Exchange prices of three shares increased out of a total number of 28. Among the shares included in the SBI 20 index, only shares of Delo gained in value, as they grew by 1.2%. On the other hand, the biggest fall in April was recorded for shares of Zito (-10.8%), Droga (-8.8%) and Kompas MTS (-7.6%).
Year-on-year, the prices of eleven shares on the official market increased. Among the shares included in the SBI 20 index, the shares of the following companies recorded the biggest growth in the stated period: Sava (+56.6%), Merkur (+39.2%) and Aerodrom (+15.8%). Seventeen shares decreased in value. Among the SBI 20 shares, Istrabenz (a loss of 17.9% in value), Zito (-17.5%) and Droga (-16.3%) were the biggest losers.
Foreign investments
The net outflow of all non-residents' investments to the organised market in April 2005 totalled SIT 9.7 million. In April of last year, foreign investments inflow amounted to SIT 242.3 million. In April, foreign investors accounted for 3.7% of the organised market turnover. The level of foreign ownership in shares of Slovene companies (according to the market capitalisation on the last day of the month) reached 3.9%. Among the shares included in the SBI 20 index, the share of foreign investors' ownership increased most notably in Kompas MTS (+4.7 percentage points) and Pivovarna Lasko (+3.2 percentage points). On the other hand, the share of foreign investors' ownership decreased most notably in Istrabenz (-18.8 percentage points) and Petrol (-0.2 percentage points).
Market capitalization
On 30 April 2005, the total market capitalisation of all securities traded on the Ljubljana Stock Exchange amounted to SIT 3,131 billion. The highest participation in the market capitalisation was recorded by the shares of joint-stock companies (52.1%), followed by bonds (40.6%) and investment funds (7.3%). In the past month, the Stock Exchange market capitalisation increased by SIT 63.9 billion. The growth is a result of admission of new bonds for trading on the stock exchange. The market capitalisation of bonds increased by SIT 107.1 billion due to admission of new bonds for trading on the market. The market capitalisation of joint-stock companies’ shares decreased by SIT 41.1 billion, as did the market capitalisation of investment funds’ shares, namely by SIT 2.1 billion.
Year-on-year, the market capitalisation of shares on the official market increased from SIT 1,173.8 billion to SIT 1,175.2 billion (representing a growth of 0.1%). In the same period, the market capitalisation of shares on the free market grew by 3.3% from SIT 441.8 billion to SIT 456.3 billion. On 30 April, the market capitalisation of all shares on the LJSE, excluding investment funds, represented 26.4% of domestic GDP in 2004 (at current prices). Source: The Statistical Office of the Republic of Slovenia.
