The total turnover of all market segments of the Ljubljana Stock Exchange (LJSE) in June 2003 amounted to SIT 23.7 billion, which was by 27.4% more than a month before and by 40.8% less if compared to last year's monthly average. With regard to June 2002, the turnover decreased by 24.1% (or by SIT 7.5 billion).
In June 2003, bonds participated with 38.7% in the overall turnover structure, while shares contributed 31.2% and shares of investment funds 30.1%. There were no transactions concluded with short-term securities. In comparison with the previous months, the share of investment funds grew the most, in 2003 with an average of only 17.7% in the total turnover.
During the period of 20 trading days in June, there were 23,620 transactions concluded, in average 1,181 trades per day - a decrease by 652 trades per day if compared to the last year's monthly average.
In June, the average daily turnover equalled SIT 1.2 billion, and increased by SIT 255 million in comparison to the previous month. The average value of a single transaction in June was SIT 1,005 thousand, and exceeded the level of SIT 1 million for the first time since January 2003.
Block trading
In June 2003, the Stock Exchange members reported 82 block transactions, with a total value of SIT 14.6 billion; a 61.6% share of the total monthly turnover proved higher than the last year's average, by 16 percentage points. The average value of a block transaction in June amounted to SIT 178 million, while the average value of a single trade, with block trades excluded, added up to SIT 387 thousand.
Indices
The official market index - SBI 20 lost 2.67% of its value in June; it ended in the red every single month of this year, and during the last month finished only three days on a positive note. Its value changed by a modest 0.17% per day, in average. The SBI 20 Index gained 7.25% of its value during the last twelve months.
In June, the IPT Index lost 2.80% of its value. In contrast to SBI 20, its value had been varying significantly, which was particularly due to considerable daily alterations in prices of shares of Lesnina (MILG) and of KD Group (SKDR). Within the last twelve months, the PIX Index gained 14.99% of its value.
The value of the PIX Index (Investment Funds Index) in June increased by 1.52% (a month before, its value fell by 2.32%). The index had been growing in value continually through the month, and ended altogether eleven days (out of the total of twenty) on a positive note. The value of the PIX Index grew by 15.19% during the last 12 months. The Bond Index - BIO gained 0.20% of its value in June, but had been on the decline for most of the month. Positive overall monthly results were due to the daily rise of 0.77% on 19 June 2003, when BIO also reached its historical high at 115.06 points. Within the last twelve months, the BIO Index gained 5.7% of its value.
In June, all five industrial sector indices experienced a decline in their values, in particular Food and Beverages (-4.7%), followed by Chemicals (-3.4%), Trade (-2.8%), Oil and Gas (-2.6%) and Transport (-1.0%).
Price movements of selected shares
On the official market of LJSE, prices of five shares (out of the total of thirty-three) increased in June, among them shares of Delo Prodaja (+7.89%), Merkur (+2.79%) and preferred shares of Probanka (+1.6%). The shares of Krka and of Luka Koper rose in value for less than one percent. Prices of twenty-four shares, on the other hand, fell during the last month. Shares of Kompas MTS decreased in value the most, by 16.53%; next were shares of Delo (-8.29%), Droga (-8.27%) and of GPG (-7.81%).
Year-on-year the prices of twenty-three shares from the official market increased during that period. The highest growth was displayed by the shares of Tehnounion (+38.89%), Etol (+30.00%) and Droga (+27.81%). Prices of ten shares decreased, with Emona obala Koper again in the lead (-33.41%), and followed by shares of Kompas MTS (-27.16%) and of Geodetski zavod Slovenije (-24.61%).
Foreign investments
Net inflow of all non-residents' investments (including direct and portfolio investments into shares and bonds, but without primary issues) totalled SIT 11.73 billion in June. The outflow on the organised markets was equal to SIT 82.2 million, while the inflow on the off-the-organised market amounted to SIT 11.81 billion. In June, foreign investors participated with 7.83% in the turnover structure of shares on the LJSE organised market. The level of foreign ownership in shares of Slovenian companies (according to the market capitalisation as at the last day of the month) was 8.34%, and increased in the last twelve months the most considerably in Medve{ek Pu{nik (+24.2 percentage points) and in Svilanit (+15.9 percentage points). On the other hand, foreign ownership decreased in Avtoprevozni{tvo in servisi Velenje (-6.9 percentage points), in Krka (-6.5 percentage points), in Kolinska (-4.0 percentage points), in Helios (-3.1 percentage points), and in Intereuropa (-3.0 percentage points).
Market capitalization
On 30 June 2003, the total market capitalization of all securities traded on the Ljubljana Stock Exchange (together with shares of investment funds - SIT 225.27 billion) amounted to SIT 2,047 billion, and thus exceeded the level of SIT 2,000 billion for the first time since the exclusion of Lek shares from trading on the official market. An increase in the capitalization (by 2.84%) was mostly due to the listing of new bonds (3 bonds of NLB and a BTC bond), which contributed SIT 37.2 billion to the total; the additional SIT 34.3 billion were supplied by an increase in the number of two issues of the Republic of Slovenia bonds. Within the period of one year, the market capitalisation of shares on the official market decreased from the initial SIT 859.0 billion to SIT 791.6 billion (by 7.8%). The capitalisation of shares on the free market, however, increased by 12.6%, from SIT 224.5 billion to SIT 252.8 billion. On 30 June 2003, the market capitalisation of all shares traded, without the shares of investment funds (SIT 1,044.4 billion), represented 19.8% of the GDP for the year 2002 - SIT 5,284 billion (at current prices), according to the data by the Statistical Office of the Republic of Slovenia.
