The total turnover on all market segments of the Ljubljana Stock Exchange (LJSE) in August 2003 amounted to SIT 26.9 billion, which was 18.8% more than the previous month , and 4.4% more than this year's monthly average. In comparison to August 2002, turnover decreased by 29.6%, or by SIT 11.3 billion.
In August 2003, shares accounted for 46.1% of turnover, while bonds contributed 39.5%, and shares of investment funds 14.3%. There were no transactions concluded in short-term securities.
During the period of 20 trading days in August, there were 26,941 transactions concluded, on average 1,347 trades per day; the average of daily transactions in August amounted to 157 per day more than a month before, or to 53 trades per day more than last year's average.
In August, the average daily turnover equalled SIT 1.35 billion, which was the second highest turnover of this year. The average value of a single transaction in August was SIT 997 thousand.
Block trading
The Stock Exchange members reported 103 block transactions in August 2003, a total value of SIT 13.4 billion, or 49.8% of the total monthly turnover, or 9.4 percentage points less than one month earlier. The average value of a single block transaction in August amounted to SIT 130 million, while the average value of a single transaction, without block trades, totalled SIT 503 thousand.
Indices
The official market index - SBI 20 - gained 7.41% in August, and ended in the positive for the second month in a row. Within the period of 20 trading days, its value increased sixteen times (three times for more than 1%). During the last twelve months, SBI 20 gained 6,57% in its value and finished the last month at 0.6% above the final level of the past year.
The IPT Index gained 4.12% in August. Among the LJSE indices, the IPT has been the most profitable one in 2003, as its value grew by 5.5%. Within the past twelve months, the IPT Index gained 21.44% in its value.
In August, the value of the PIX Index (Investment Funds Index) increased by 4.25%. Among the shares of investment funds included in the PIX, those of KD PID were the most prominent ones, by the volume of their growth - their price increased by 23.4%. In the period of the last 12 months, the value of the PIX Index improved by 16.87%.
The Bond Index (BIO) lost 0.17% of its value in August. However, within the same month, BIO also reached its historical high (on 5 August, at 115.31 points), but lost some of its value by the end of the month and finished at 115.01 points. Within the last twelve months, the BIO Index gained 5.94% of its value.
In August, the values of all five LJSE industrial sector indices increased. In succession of two months, Oil and Gas Index was again the best (+16.8%), followed by Trade (+8.5%), Transport (+5.5%), Chemicals (+4.8%), and Food and Beverages (+2.7%).
Price movements of selected shares
On the official market of LJSE, prices of twenty-six shares (out of the total of thirtytwo) increased in August, among them, in particular, shares of Istrabenz (+27.62%). Next were shares of Delo Prodaja (+19.69%) and Delo (+15.35%). Prices of four shares, on the other hand, fell during the past month. Shares of GPG decreased in value the most, by 18.64%, with shares of Pivovarna Union (-2.35%), and shares of Pivovarna La{ko (-1.11%) following.
According to the comparison of prices in one year's time, prices of twenty-three shares on the official market increased during that period. The highest growth was displayed by the shares of Tehnounion (+51.26%), Aerodrom (+43.37%) and Etol (34.55%). Prices of nine shares decreased, and again those of Emona obala Koper were in the lead (-27.12%). Next were shares of Živila Kranj (-19.23%), and Kompas MTS (-18.06%).
Foreign investments
Net inflow of all non-residents' investments (including direct and portfolio investments into shares and bonds, but without primary issues) totalled SIT 9.29 billion in August. The outflow on the organised market was SIT 367.1 million, while the inflow on the off-the-organised market amounted to SIT 9.66 billion. In August, foreign investors participated with 15.74% in the turnover structure of shares on the organised market of LJSE. The level of foreign ownership of shares of Slovene companies (according to the market capitalisation as at the last day of the month) was 6.27%, and increased most visibly during the last twelve months in Medve{ek Pu{nik (+24.2 percentage points) and in Svilanit (+15.9 percentage points). In contrast, foreign ownership decreased the most in Krka (-5.5 percentage points), in Kolinska (-4.0 percentage points), and Helios (-3.1 percentage points).
Market capitalization
On 31 August 2003, the total market capitalisation of all securities traded on the Ljubljana Stock Exchange (together with shares of investment funds - SIT 244.00 billion) amounted to SIT 2,145 billion. The capitalisation of shares increased during the month, by 6%, while the market capitalisation of shares of investment funds grew by 4.4%. The increase was due to growth of prices on the market in the last month, as there were no new listings.
Year-on- year, the market capitalisation of shares on the official market decreased, from SIT 957.9 billion to SIT 829.7 billion (by SIT 128 billion). A considerable decrease in market capitalisation took place after shares of Lek had been delisted from the official market, which decreased the market capitalisation of the LJSE by SIT 177 billion. The capitalisation of shares on the free market, within the same period, increased by 22.6% - from SIT 207.3 billion to SIT 254.2 billion.
On 31 August 2003, the market capitalisation of all shares traded, without the shares of investment funds (SIT 1,083.9 billion), represented 20.5% of the GDP for 2002 - SIT 5,284 billion (at current prices). Data was provided by the Statistical Office of the Republic of Slovenia.
