In December 2000 the Exchange recorded the highest monthly value of total turnover in its history. The total turnover on all its market segments amounted to SIT 53.12 billion, which was 20% higher than in December 1999, which had previously been the record month. The total turnover in the year 2000 reached SIT 269.62 billion, 1.5% over the previous year figure.
In December 2000 the highest share in the structure of the total turnover was reached by shares with 51.89%, followed by shares of investment funds with 26.45% and bonds with 16.87%. Turnover of shares of investment funds recorded a 5% decline, a slight drop compared to the previous month, while the turnover of shares and bonds remained practically unchanged. In December short-term securities restarted trading after an interval of seven months and their turnover amounted to SIT 1.78 billion or 3.35% of the total turnover. The turnover of pension coupons was SIT 240 million or 0.45% of the total turnover. The share of the official market in total turnover in December was 58.04%.The turnover of shares on the official market made up 83.84% of the total turnover of shares, which was the highest figure this year.
The average number of transactions per day in December was 1,604 or 30,423 transactions in 19 trading days. In 2000 the daily average of transactions was 1,586, which was below the average of 1,760 in 1999. In December, like in the other months of the year 2000, the most traded securities were shares of investment funds. The average number of transactions with shares of investment funds was 846 per day or 52.81% of the total number of transactions, for shares the figures were 613 or 38.29%.
The average daily turnover in December was SIT 2.80 billion, which was well above this year's average and above the SIT 1 billion average of 1999. On 27 December 2000 a record daily turn-over of SIT 7.72 billion was reached, the highest in the history of the Exchange. The average value of a single transaction in December was SIT 1.7 million, high above the year 2000 average of SIT 680 thousand. The number of shares of companies traded was 5,992,351 and the number of shares of investment funds traded was 257,257,404.
The most traded shares on the Exchange's official and free markets (block trades are excluded) were shares of the companies Krka, Lek, Mercator, Intereuropa and Fructal, together representing 40.08% of the turnover of shares in December. The most traded bonds in December were again bonds of 2nd issue of Slovenska odškodninska druzba, which represented 45.26% of the turn-over of bonds on the Exchange. Five most traded shares of PIDs, excluding block trades, (Infond Zlat, Zvon2, Zvon 1, Zlata Moneta 2 and NFD 1) represented 44.64% of the turnover of shares of PIDs in December. In the same month ten most active Exchange members concluded 61.02% of the total turnover. The most active members were PM & A BPD, Nova Ljubljanska banka, Banka Vipa, Publikum and Probanka.
Block trading
Block trades also were at record levels in December 2000 as the highest number of trades was reported since 1 August 1997,when the Exchange enabled its members to trade in larger quantities of securities. 280 block trades were concluded with a total value of SIT 37.17 billion, which represented 69.98% of the total monthly turnover and was the highest in the year 2000. The average block trade in December amounted to SIT 133 million. In the year 2000 a total of 1,318 block trades was reported with the value of SIT 155.56 billion or 57,69% of the total yearly turnover.
Indices
The Slovenian Stock Exchange Index - SBI 20
In December 2000 the upward trend of the index SBI 20, which started in the beginning of October, continued, and the index increased over the last three months by 10.76%, exceeding the value of 1,800 points. SBI 20 increased by 4.07% in December from 1,737.22 points to 1,807.94 points, thus exceeding its value at the end of 1999 by 0.1%. Throughout December the index kept growing and of the total of 20 trading days its value only dropped seven times, by 0.5% at the most. Until 15 December its daily changes in value were insignificant as they amounted to between 0% and 0.5%. After that date they recorded a slight growth. The highest increase of 1.73% was recorded on 21 December when the index exceeded 1,800 points and stayed at that level until the end of the month.
The Non-weighed Slovenian Stock Exchange Index - SBI 20NT
The performance of the Non-weighed Slovenian Stock Exchange Index - SBI 20NT was similar in movement to the weighed index SBI 20 since the beginning of its calculation on 1 July 2000. In December the value of the index SBI 20NT increased by 4.14% from 1,698.84 points to 1,769.15 points. The average daily change of the index was slightly lower compared to the weighed index, it reached from 0.01% to 1.22 %.
The Free Market Index - IPT
Among all the Exchange indices the value of the index IPT changed the least in December. At the end of December the value of IPT was 1,627.44 points, a 0.87% increase compared to the value at the end of November, when it was 1,613.37 points. The index IPT recorded a considerable change in its trend twice in December, hence its monthly growth was not significant. On 5 December IPT grew by 1.99% to 1,642.03 points and kept growing until 14 December, when it recorded its highest daily drop of 1.98%.
Index of Authorised Investment Funds - PIX
In December the index PIX recorded the highest increase among the Exchange indices. It increased by 6.24% from 1.431.44 points to 1,520.79 points, thus exceeding 1,500 points for the first time after February 2000. The index continued to grow for the major part of the month. Its daily change was 1.04% at the most. The highest increase in value was recorded on 6 December - by 1.04% - and the biggest drop on 12 December - by 0.38%.
The Stock Exchange Bond Index - BIO
At the end of December 2000 the value of the Bond Index BIO was 109.03 points, thus exceeding 109 points for the first time. Compared with its value of 107.81 at the end of November the index increased by 1.13%. In December, contrary to the other months of the year, the value of the index changed considerably and the spread between the minimum and maximum values of the index was 1.82 points. Its highest daily change was 0.68%.
Industrial Sector Indices
In December, as in the previous month, the values of all six industrial sector indices increased. They recorded a growth ranging from 2.18% to 6.137%. They all recorded a similar trend, they continued to grow until 22 December and in the last three trading days experienced a drop in value. The highest increase was recorded by the index Pharmaceuticals (6.13%), followed by Chemicals with a 5.77% growth, Trade with 3.79% and Oil and gas by 3.75%, while the remaining two indices recorded a less than 3% increase.
Price movements of selected shares
December 2000 was characterised by a remarkable trend of price growth on the official market since prices of thirty-one shares of the total of thirty-nine listed shares increased, seven of them by more than 10%. The highest price growth rate in December was recorded by shares of Probanka (29.66%). A more than 15% increase in price was recorded by ordinary shares of the companies Mlinotest and Kovinotehna and more that 10% by the companies Kolinska, Zivila Kranj, Banka Koper and GPG. The prices of five shares decreased in December, the highest decline was recorded by Radenska (7.06%).Other shares with negative monthly return recorded a less than 1% fall in price in December.
Over the year the value of fourteen shares of those listed on the official market increased - among them SKB banka with the highest rise of 31.85%. Ordinary and preferred shares of the company Lek also recorded about 25% growth in the year 2000. The value of eighteen shares fell - shares of Radenska (46.83%) Kovinotehna (ordinary and preferred ), Nika, Tehnounion and Petrol were the most affected. The price of these shares fell in one year's time from between 40% and 20%.
Foreign investments
In December the net inflow of all foreign investments (direct and portfolio investments in shares and bonds, except primary issues) amounted to SIT 634.7 million, which is below the year's monthly average of SIT 729 million. In December exchange transactions recorded a net inflow for the fourth month running. It amounted to SIT 44.7 million or 21.5% of the annual net inflow of foreign investments on the Exchange market. Foreign investors accounted for a 0.6 % of the shares turnover on the Exchange in December.
In 2000 a net inflow of SIT 8.75 billion of foreign investments was recorded. The off-the-exchange market contributed an inflow of SIT 8.45 billion and the exchange market a net inflow of SIT 208.1 million. The share of foreign ownership in the market capitalisation of shares on the Exchange was 7.75% at the end of November, which is the highest percentage this year. Foreign ownership reached its highest level in May 1998 -12.23%.
Capitalisation
On 31 December 2000 the total market capitalisation of securities traded on the Exchange (including shares of investment companies -SIT 171.62 billion) amounted to SIT 1,138.43 billion, which was SIT 66.4 billion or 6.2 % higher than its level on 30 November. An increased market capitalization occurred on all market segments of the Exchange.
Market capitalisation of shares of the official market grew the most - by SIT 36.2 billion, mainly due to share price increases. The market capitalisation of bonds of the official market grew by SIT 13.6 billion, mostly due to admittance of the 20th issue of bonds of the Republic of Slovenia.Market capitalisation of investment funds increased by SIT 11.6 billion in December.
The market capitalisation of shares listed on the official market of the Exchange increased from SIT 432.71 billion to SIT 579.45 billion or by 33.91% over the year.
The capitalisation of shares on the free market decreased in the same period by 6.1%. On 31 December 2000,the market capitalisation of all shares traded on the Exchange (SIT 705.09 billion)made up 19.39% of GDP in the year 1999 - SIT 3,637 billion at current prices.(Source: Statistical Office of the Republic of Slovenia).
