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The total turnover of securities on the Exchange amounted to SIT 10.89 billion in August 2000, which is the lowest monthly value of the current one-year period. The total value of SIT 154.32 billion of securities traded in the first eight trading months of 2000 was SIT five billion above the 1999 figure for the same period.
In August 2000, the highest share in the structure of the total turnover was reached by shares (58.20%). The share of turnover of shares of investment funds was 26.63% and of bonds was 14.39%. Shares of investment funds recorded the biggest increase in the share of turnover and compared to the previous month, increased by 16.2% points. The trading in short term securities hasn't occurred in the last four months. Pension coupons made up 0.78% of the total turnover or SIT 85 million. The share of the official market in total turnover in August was 49.82%.
The average number of transactions per day in August was 1,247 or 27,440 transactions in twenty-two trading days. In the first eight months of 2000 the daily average of transactions was 1,656 and was below the average of 1,760 in 1999. In August 2000, the most traded securities were shares of investment funds. The average number of transactions with shares of investment funds was 748 per day or 59.96% of the total number of transactions; for shares the figures were 432 or 34.61%.
The average daily turnover was SIT 495 million, which has been the lowest value since July 1999 and is considerably below the average of SIT 1 billion in 1999.The number of shares of companies traded was 1,408,246 and the number of shares of investment funds traded was 61,948,378.
The most traded shares on the Exchange market were Krka, Pivovarna Union, Fructal, Intereuropa and Lek. These five issuers represented 46.73% of the turnover of shares of the Exchange. The most traded bonds in August were bonds of 2.issue of Slovenska odškodninska druzba, which represented 52% of the turnover of bonds on the Exchange. Five most traded shares of PIDs (Mercata, Infond Zlat, Mercata 1, Triglav steber 1, NFD 2) in August represented 45.59% of the turnover of shares of PIDs on the Exchange and 14.54% of the total turnover. In August 2000, ten most active Exchange members concluded 61% of the total turnover. The most active members were Perspektiva, Nova Ljubljanska banka, Publikum,Ilirika and BPD FIDA.
Block trading
In August 2000 43 block trades were reported by the Exchange members, with a total value of SIT 4.06 billion. The value of block trades represented 37.24% of the total turnover in August 2000. For the first time in this year this figure is lower than its average level of 49% in 1999. In the first eight months of 2000 745 block trades were reported with the value of SIT 85.04 billion or 55% of the total turnover in the period concerned.
Indices
The Slovenian Stock Exchange Index - SBI 20
In August the value of the index SBI 20 increased by 1.88% from 1,671.73 points to 1,703.10 points. Hence the positive trend, which began at the end of June, continued after the five months of negative trend from the beginning of February.
SBI 20 was at its lowest level of the month on 1 August at 1,668.34 points. The index increased over the next ten days by 4.16%. On 11 August it reached the highest level of the month -1,737.72 points. After that the index recorded moderately negative movements. The average daily change of SBI 20 in the second part of the month was between 0.03% and 0.94%. The spread between the minimum and maximum value of the index was very narrow at 69.38 points. The highest increase in value was recorded on 10 August - by 1.09% and the biggest drop on 17 August - by 0.94%.
The Non-weighed Slovenian Stock Exchange Index - SBI 20NT
The performance of the Non-weighed Slovenian Stock Exchange Index - SBI 20NT in August was similar in movement to the index SBI 20. In August the value of the index SBI 20NT increased by 1.47 %from 1,672.48 points to 1,697.14 points. The average daily change of SBI 20NT during the whole month was between 0.07%and 1.18%.
The Free Market Index - IPT
On 31 August the index IPT, which is composed of ordinary shares of 15 different issuers from the free market, recorded a value of 1,013.45 points. In August the index IPT displayed the highest volatility compared to the other indices, but still it recorded a low spread between its minimum and maximum value - 2.28%.
Index of Authorised Investment Funds - PIX
The highest increase in August was recorded by the index PIX (beside Pharmaceuticals industrial sector index). The value of PIX at the end of August was 1,293.59 points; hence PIX recorded a 4.45%increase compared to the value at the end of July, when it was 1,238.45 points. During the whole month the index PIX also exhibited low volatility. In August the spread between the minimum and maximum value o the index amounted to 67.26 points. The highest increase in value was recorded on 11 August -by 1.17% and the biggest drop on 29 August - by 0.94%.
The Stock Exchange Bond Index - BIO
In August the Bond Index BIO started trading at the value of 106.33 points and its value did not change for most of the month. The value of BIO at the end of August was 106.39 points; hence BIO recorded a 0.02% increase in value in August.
Industrial Sector Indices
In August the value of three industrial sector indices increased (Food and beverages, Pharmaceuticals and Chemicals). The highest increase was recorded by the index Pharmaceuticals (6.34%) due to the growth of prices of both shares included in the index, Krka and Lek. In the other two sectors, which recorded a positive trend in this month, the indices recorded a more modest increase from 2.61% for Food and beverages and 3.82% for Chemicals. The value of other three industrial sector indices declined (Transport, Oil and gas and Trade), but none for more then 1%.
Foreign investments
In August a net inflow of foreign investments amounted to SIT 583.6 million, while an outflow of SIT 39.1 million was recorded by the exchange transactions (Source: the Bank of Slovenia). A net inflow of SIT 2.5 billion of foreign investment was recorded in the first eight months of 2000.The off-the-exchange market contributed an inflow of SIT 2.7 billion while the exchange market had a net outflow of SIT 191 million.
Foreign investors accounted for a 2.12% of the shares turnover on the Exchange in August. Despite its marginal value it was slightly higher in comparison to the previous three months. The share of foreign ownership in the market capitalisation of stocks on the Exchange was 6.81%at the end of August staying at its end of July level. The share of foreign ownership reached its highest level in May 1998 23%.
Capitalisation
On 31 August 2000 the total market capitalisation of securities traded on the Exchange (including shares of investment companies) amounted to SIT 1,046.80 billion, almost SIT 27 million higher than its level on 31 July. The increase was mostly due to an increase of market capitalisation of the official market shares by SIT 11 billion, which in turn was due to the share price growth in the last month. At the end of August 2000 the market capitalisation of forty-six investment funds was SIT 144.9 billion. The total market capitalisation of securities traded on the Exchange increased by 18.18%in a one-year period.
The market capitalisation of the shares listed on the official market of the Exchange increased from SIT 460.27 billion to SIT 502.40 billion or by 9.15% on a year-to-year basis. The capitalisation of shares on the free market increased in the same period by 33.79%. At the end of August 2000, the market capitalisation of all shares traded on the Exchange (official and free markets) (SIT 644.34 billion) made up 17.72% of GDP in the year 1999 - SIT 3,637 billion at current prices. (Source: Statistical Office of the Republic of Slovenia, April 2000).
