The total turnover on all market segments of LJSE (Ljubljana Stock Exchange) in August 2002 reached SIT 38.16 billion, which was SIT 2 billion less than in July 2002. In comparison to August 2001, turnover increased by SIT 19 billion. The total 2002 turnover has already amounted to SIT 284.5 billion, or 82% of the total turnover of the previous year. Once again, shares of listed companies (70.1%), made up the largest part in the total turnover structure in August 2002,with bonds (17%), and investment funds' shares (12.6%; 6% belonged to IDs)following behind. There were no transactions with short-term securities, while pension coupons participated with 0.3%. During last month, shares of listed companies registered a rise of 9 percentage points, and bonds, accordingly, deteriorated by 8 percentage points. In August, the share of the official market represented 76.2% of the total Exchange turnover, with this year 's average of 68.9%.
During the 21 trading days in August, 27,124 transactions were concluded, in the average of 1,292 transactions per day (and 81 transactions more than a month before). More than half of all transactions were executed with shares of listed companies (54.2%),while trades with shares of investment funds reached altogether 38.6%(10.2% IDs and 28.4% PIDs). In August, the average of daily turnover exceeded this year 's average by 5.5%, in the total of SIT 1.8 billion. The average value of a single transaction (amounting to SIT 1.4 million) was considerably higher than this year 's average (SIT 1.1 million).If compared to August of last year, value of a single transaction rose by a substantial SIT 698 thousand.
Block trading
Stock Exchange members reported 96 block trades in August 2002, to the value of SIT 10.8 billion, representing 28.3% of overall August turnover,which is by far the least in the last three years. An average single block transaction was worth SIT 112 billion in August, while a single transaction, with block trades excluded, amounted in average to SIT 1.013 million - by 69% more than this year's average.
Indices
In August 2002, the value of all three leading LJSE indices increased. The blue chip SBI 20 Index gained 13.3%, and exceeded the limit of 3,000 points. In the last month, the index climbed to its historical record high at 3,256.70 points (on 26 August 2002). A clearly positive trend was evident also from the statistics of the 15 trading days that had ended in the black.
The IPT Index rose in value by 5.2% in August 2002.Its historical high was registered on 27 August, at 2,320.48 points, but then the index lost 31 points by the end of the month, and finished at 2,289.28 points.
The Investment Funds Index - PIX also gained 10.6% in value. During all of August 2002, its value movements followed that of the blue chip index, and also recorded its high on 26 August, at 2,576.91 points. At the same time, that was also its all-time historical record value.
All three indices rose by more than 40%in value during last year. In comparison to 31 August 2001,value of the PIX Index grew most (+65%),while SBI 20 rose by 60%, and IPT by 41%.
In August, the Bond Index (BIO)gained in value for the third month running (+0.2%); however, its yearly yield remained negative (-1.1%). All six indices of the industrial sector grew in value in August. The Pharmaceuticals Index rose most, gaining 33% of its value in the last month. Second and third were Oil and Gas (+12.9%), and Trade (+12.4%)indices. Chemicals grew by 7.5%,while indices of Transport (+5.75), and Food and Beverages (+1.8%) rose the least.
Price movements of selected shares
On the official stock exchange market, value of twenty-seven shares,out of the listed total of thirty-eight, increased in August. Prices of shares of Lek grew most; ordinary shares gained 51.6%, and preferred shares 50.5%. Among others, those of Delo prodaja (+22.1%), Mercator (+17.7%), and Krka (+16%)were the most active. The value of eight shares decreased during last month. Once again, shares of Koloniale Maribor did worst (-14.5%), likewise, shares of Tehnounion (-11.1%). Six shares deteriorated by less than 10% ,among them Pivovarna Union (-7.9%), which lost the most, and Radenska (-0.5% )at the other end.
Year on yeae the value of thirty-four shares on the official market rose in the period of the last twelve months.The two highest gainers were low-liquid shares of Geodetski zavod Slovenije (+146%)and Nika (+121.8%). At the same time, value was doubled for shares of Lek (preferred -by 102.2%,ordinary -by 100.1%)and shares of Gorenje (+100.8%). Four shares decreased in value :Tehnounion (-46.7%) and Banka Koper (-41%), as well as Koloniale (-6%)and GPG (-3.5%).
Foreign investments
Net outflow of all non-residents'investments (including direct and portfolio investments into shares and bonds, but no primary issues)amounted to SIT 3.3 billion (total in 2002 -inflow of SIT 55 billion).Outflow on the organised market was equivalent to SIT 4.02 billion, inflow on the off-the-organised market -SIT 0.7 billion. Among those most liquid securities, foreign ownership decreased the most with Lek (-2.1%)and Krka (-1.1%),and increased the most with Delo prodaja (+0.4%). In August, the share of non-residents in the total turnover was 19.5%. Foreign ownership participated with a 10.03%share in the market capitalisation of Slovenian companies at the end of August 2002.
Market capitalization
On 31 August 2002,the total market capitalisation of all securites traded on the Ljubljana Stock Exchange (with shares of investment funds - SIT 230.4 billion -included)reached SIT 1,947 billion,which is by SIT 141 billion, or by 7.8% more than a month before. In comparison to July 2002,capitalisation of shares increased the most (by 11.5%).High increase was recorded also for the capitalisation of investment funds (+9.7%),whereas the capitalisation of bonds remained on the level of the previous month, due to lack of fresh admissions. The capitalisation of pension coupons declined by 3.4% during last month (in July, its level rose by 12.3%).
Year on year, market capitalization of shares listed on the official market rose from SIT 790 billion to SIT 958 billion (by 47%); capitalisation of shares listed on the free market went up by 52%, from SIT 136 billion ,to SIT 207 billion. On 31 August 2002 the market capitalisation of all securities traded on LJSE made up SIT 1,165 billion and represented 25.5% of GDP for the year 2001, or SIT 4,566 billion (at current prices), according to the Statistical Office of the Republic of Slovenia.
