In February 200 the total turnover on all market segments of the Ljubljana Stock Exchange amounted to SIT 18.74 billion, which was SIT14.53 billion less than the previous month and SIT 4.09 billion below the February 2000 figure. In the first two months of this year the total turnover on the Ljubljana Stock Exchange was SIT 52 billion.
In February 2001, the shares accounted for the highest proportion of total turnover with 53.91%, followed by bonds with 30.05% and shares of investment funds 14.20%. Turnover of bonds more than doubled compared with the previous month. This was particularly on account of declining shares of investment funds, which fell by more than 50%. Short-term securities recorded a turnover of SIT 241.27 million or 1.29% of the total turnover. The turnover of pension coupons amounted to SIT103.53 million or 0.55% of the total turnover. The share of the official market in total turnover in February was 66.85%, the highest share recorded in the last year. The turnover of shares on the official market made up 78.47% of the total turnover of shares.
The average number of transactions per day in February was 1,631 or 30,980 transactions in 19 trading days, which was more than the 2000 daily average of transactions – 1,586 transactions. In February 60.42% of all trades were concluded with shares of investment funds. The average number of transactions with shares of investment funds was 985 per day, for company shares the figures were 534 or 32.73%.
The average daily turnover in February was SIT 986.14 million, which was below the year 2000 average of SIT 1.08 billion. The average value of a single transaction in February was SIT 605 thousand. That was below the year 2000 average of SIT 680 thousand. In February 2,239,648 company shares changed hands and the number of shares of investment funds traded was 51,157,429.
Block Trading
79 block trades were reported in February 200 with a total value of SIT 9 billion, which was 48.05% of the total monthly turnover and was below the year 2000 average of 57.7%. In the year 2000 only August recorded a lower relevant share (37.3%). The average block trade in February 2001 amounted to SIT 114 million.
The Slovenian Stock Exchange Index - SBI 20
In February 2001 all the Exchange indices were down, including the leading index, the SBI 20. At the end of February the SBI 20 was at 1,808.49 points, down 3.57% compared with 1,875.35 at end of January 2001.
The index pushed down in the first half of the month, dropping 4.73% by 15 February. It then recorded slight daily changes between 1,777.96 and 1,808.49. The highest daily growth of 0.93% was recorded on 16 February and its lowest daily drop of 1.28% on 14 February.
The Non-weighted Slovenian Stock Exchange Index - SBI 20NT
The performance of the Non-weighted Slovenian Stock Exchange Index - SBI 20NT was similar in movement to the weighted index SBI 20 since the beginning of its calculation on 1 July 2000. In February the value of the index SBI 20NT decreased by 3.67% from 1,828.76 to, 1,761.6 points. The average daily change of the index was slightly lower compared with the weighted index, it reached from 0.02% to 1.5 %.
The Free Market Index – IPT
In February 2001 the IPT index was down 3.26%. It followed the trend of the leading Exchange index SBI 20 but with more distinct daily changes in value. The index recorded its lowest daily drop on 20 February, when it fell by 1.35%. Its highest daily growth of 2.11% occurred on 5 February.
Index of Authorised Investment Funds – PIX
In February the PIX index fell by 2.03% from, 1,510.93 to 1,480.21 points. Until 7 February PIX continued to grow to reach 1,530.33 points, its maximum value of the month. For the rest of the month its value continued to fall, only rising on the last day of the month by 1.10%, which was its highest daily growth. Its deepest daily drop, also 1.10%, occurred on 20 February.
The Stock Exchange Bond Index – BIO
At the end of February 2001 the Bond Index BIO was at 108.87 points, off 0.56% compared with 109.48 at the end of January. The index recorded the smallest changes in value among the Exchange’s indices. Thus in February its highest daily change was 0.58%.
Industrial Sector Indices
For the first time since 1 July 2000,when the Exchange started calculating the industrial sector indices, all six indices recorded a monthly drop in value. Hence their value in February lost between 1.67% to 5.38%. The deepest drop of 5.38%was recorded by the index Transport. All three shares included in the index (Aerodrom, Luka Koper and Intereuropa) fell by over 5%. The index Oil and gas fell by 4.05%, Trade ended lower by 3.94% and Pharmaceuticals by 3.69%,while the remaining two indices recorded a drop of less than 2%.
Price movements of selected shares
Shares fell during most of the month since prices of only ten shares on the official market increased, none by more than 6%. The highest price growth rate in February was recorded by shares of Dolenjska banka (5.48%). Between 5% and 1% increase in price was recorded by ordinary shares of the companies Kompas MTS,Zdravilišèe Moravske toplice ,Banka Koper and Mlinotest. The prices of thirty shares fell in February, the highest decline was recorded by Probanka - 13.31%. Other shares with negative monthly return recorded a less than 10% fall in price in February. A considerable drop was also recorded by shares of the companies Merkur,Comet,Gorenje and Geodetski zavod Slovenije (between 8% and 10%).
Year on year the value of ten listed shares increased - among them SKB banka with the highest rise close to 70%, and ordinary and preferred shares of the company Lek - by almost 40%. The value of twenty-three shares fell - shares of Raden-Etol ska, Kovinotehna (ordinary and preferred), Nika,and Tehnounion were the most affected. These five shares dropped between 4 .2%and 32.6% year on year.
Foreign Investments
In February a net inflow of all foreign investments was recorded, the highest of the past year, only about SIT 1 billion below the amount of total inflow of foreign investments in the year 2000. It amounted to SIT 7.7 billion of which SIT 7.4 was generated on the off-the-organised market. In February the organised market recorded SIT 277.5 million of net inflow after the net outflow of the preceding month.
Foreign investors accounted for 3.8% of the turnover of securities on the Exchange market in February. The share of foreign ownership in the market capitalisation of shares on the Exchange was 7.90% at the end of January. Foreign ownership reached its highest level in May 1998 – 12.23%.
Capitalisation
On 28 February 2001 the total market capitalisation of securities traded on the Exchange (including shares of investment companies - SIT 155.08 billion) amounted to SIT 1,130.71 billion, which was SIT 6.2 billion or 0.6 % less than the month before. Market capitalisation of listed shares recorded the deepest drop of SIT 16.4 billion, mainly due to the share price drop. Market capitalisation of bonds on the free market decreased by SIT 4.8 billion and of pension coupons by SIT 259 million. Capitalisation of other organised market segments grew. Market capitalisation of listed bonds recorded the highest growth of SIT 6.7 billion, mainly on account of two new bond issues of the Republic of Slovenia.Market capitalisation of shares on the free market and of shares of investment companies rose by SIT 4 billion. The market capitalisation of shares listed on the official market of the Exchange increased from SIT473.78 billion to SIT 588.30 billion or by 24.7% year on year. The capitalisation of shares on the free market decreased in the same period by 7.54%. On 28 February 2000, the market capitalisation of all shares traded on the Exchange (SIT 714.79 billion)made up 19.65% of GDP in the year 1999 - SIT 3,637 billion at current prices. (Source: Statistical Office of the Republic of Slovenia).
