The total turnover (excluding block trading) on all market segments of the Ljubljana Stock Exchange (LJSE) in August 2005 amounted to SIT 6.7 billion. The turnover in August was therefore 59.6% lower than last year's average. Compared to August 2004, the total turnover decreased in size by SIT6.3billion (-48.5%).
In August 2005, shares of listed companies amounted to 68.1% in the overall LJSE turnover structure. These were followed by bonds with a 18.0% share of the overall turnover structure, while in vestment funds came next, trading in the amount of 13.9% of the total turnover. In the last month, shares of investment funds gained 2.5 percentage points in the overall turnover structure, while shares of listed companies were down by a similar percentage in the turnover structure.
During the 22 trading days in August, a total of 17,906 transactions was concluded. On average, this amounts to 814 transactions per day, or rather 41.0% less than the average for last year. The average daily turnover in August amounted to SIT 306.0 million, or rather 61.0%less than last year's average.
Block trading
In August 2005, LJSE members reported 116 block transactions in a total value of SIT 28.4 billion. The total monthly turnover of registered block trades thus exceeded the BTS system turnover by SIT 21.7 billion. The average value of a single registered block transaction in August amounted to SIT 244.9 million, while the average value of a transaction concluded via the BTS system amounted to SIT 375,900.
Indices
The SBI 20,the official market index, remained unchanged most number of days on a positive note (eleven) out of all the LJSE indices. It reached its highest value on 10 August at 4,588 points, and the lowest on 25 August at 4,500 points. In the last twelve months, the SBI 20 has fallen by 7.2%.
The Investment Funds Index PIX, lost 1.1% of its value in August. The index ended only eight trading days on a positive note. In the last twelve months, the index has fallen by 0.4%.
In August, the Bond Index (BIO) fell by 0.3%. In the last twelve months, the index has grown by 2.7%, making it the highest yielding index on the LjubljanaStock Exchange in this period.
Price movements of selected shares
On the official market of the Ljubljana Stock Exchange, prices of nine shares increased out of a total number of 25. Among the shares included in the SBI 20 index, the biggest growth was recorded by shares of the following companies: Pivovarna Lasko (+4.3%), Krka (+3.7%), Aerodrom (+1.8%) and Mercator (+1.8%). On the other hand, the worst performers in August were shares of Intereuropa (-8.3%), Merkur (-2.5%) and Petrol (-2.0%).
The annual comparison period shows that in the last twelve months, the prices of seven Shares on the official market increased. Among the shares included in the SBI20 index, the shares of the following companies recorded the biggest growth in the stated period: Aerodrom (+19.9%), Sava (+14.4%), Merkur (+11.0) and Krka (+9.3%). The prices of eighteenshares fell. Among the SBI 20 shares, Intereuropa was the biggest loser, recording a loss of 22.5%. The shares of Zito (-19.2%), Etol (-18.1%), and Gorenje (-16.3%) also lost ground.
Foreign investments
The net inflow of all non-residents' investments to the regulated market in August 2005 amounted to SIT 518.2 million. Last August, there was an outflow of foreign investment in the amount of SIT 260.6. In August 2005, foreign investors participated with a 1.5% (including block trades) share in the turnover structure of the regulated market. 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% at the end of August. Among the shares included in the SBI 20 index, the share of foreign investors' ownership increased most notably in Pivovarna Lasko (+2.2 percentage points) and Mercator (+1.5 percentage points). On the other hand, the share of foreign investors' ownership decreased most notably in Istrabenz (-25.1 percentage points), Zito (-0.3 percentage points) and Luka Koper (-0.3 percentage points).
Market capitalization
On 31 August 2005, the total market capitalization of all securities traded on the Ljubljana Stock Exchange amounted to SIT 3,001 billion. The highest participation in the market capitalisation was recorded by shares of listed companies (50.9%); these were followed by bonds (43.6%) and investment funds (5.5%). In the last month, the LJSE market capitalisation fell by SIT 2.3 billion. The fall in market capitalisation is, above all, a result of the exclusion of shares from trading, as well as dips in stock prices on the semi-official market. The market capitalisation of listed shares therefore fell by SIT 744.2 million in the past month. Due to the fall in prices, the market capitalisation of investment funds shares also dropped, namely by SIT 2.5 billion. The market capitalisation of bonds, on the other hand, increased by SIT 957.0 million. Year-on-Year, the market capitalisation of shares on the official market decreased from SIT 1,182.6 billion to SIT 1,091.7 billion (-7.7%). In the same period, the market capitalisation of shares on the semi-official market grew by 0.6% from SIT 434.0 billion to SIT 436.7 billion. On 31 August, the market capitalisation of all shares on the LJSE, excluding investment funds, represented 24.7% of domestic GDP in 2004 (at current prices). Source: The Statistical Office of the Republic of Slovenia.
