The total turnover on all market segments of the Ljubljana Stock Exchange (LJSE) in June 2004 amounted to SIT 26.6 billion, which was 31.5% less than in May 2004 and 6.3% less than last year's monthly average. In comparison with June 2003, turnover grew by 11.8% (+ SIT 2.8 billion).
In June 2004, shares accounted for 53.3% of turnover, bonds contributed 29.3% and shares of investment funds 17.4%. There were no transactions with short-term securities. In the last month, the participation of individual types of securities to the total turnover structure did not change considerably.
During June’s 21 trading days, 20,311 transactions were concluded, an average of 967 trades per day. For the first time in the past five years, the average number of daily trades dropped below 1,000; a decrease of 318 transactions per day was recorded in comparison to May 2004. If compared to the last year's average, there were 30% less concluded transactions in June.
The average daily turnover in June was SIT 1.3 billion, which was 31% less than a month before. The average value of a single transaction was SIT 1,308 thousand, a decrease of SIT 129 thousand in relation to May 2004.
Block trading
The LJSE members reported 88 block transactions in June 2004, for a total value of SIT 13.9 billion, or 52.2% of the total monthly turnover, which was comparable to the last year's average. The average value of a single block transaction in June was SIT 157 million, while the average value of a single transaction without the block trades amounted to SIT 628 thousand.
Indices
The SBI 20, the official market index, gained 0.72% in June. Following a steep drop in value in May (-5.4%), the index started to recover in the beginning of June. Due to low turnover results, its movements were relatively negligible, with the average daily change of a mere 0.3%. Within the past 12 months, the SBI 20 grew by 44.4%.
The IPT Index (Free Market Index) dropped by 0.09% in value in the sixth month of the year. The index was considerably more volatile than the SBI 20, as its value changed in average by 0.5% per day. During the 21 trading days, the IPT ended on 11 of them in the red. In the last twelve months, the index gained 41.31%.
The Investment Funds Index - PIX - grew by 0.56% in June; in the beginning of the month, it increased rapidly and on 16 June reached its highest value of the month at 4,215 points, or 3.45% above the initial value in June. Within the past twelve months, the PIX gained 54.03%.
In June, the Bond Index (BIO) increased by 0.03%. Its value did not vary much during the month, as its daily average change was only 0.05%. In the last 12 months, the BIO gained 3.2%.
Two industrial sector indices increased in value in June - Transport (with 2.17%) and Oil and Gas Index (+0.87%). The Food and Beverages Index, on the other hand, experienced the steepest drop (-2.32%), with Chemicals (-0.65%) and Trade (-0.47%) following.
Price movements of selected shares
On the official market of the Ljubljana Stock Exchange, prices of thirteen shares (out of the total of thirty-two) grew in June, among them, in particular, the less-liquid shares of Comet - by 7.7%, with the turnover of SIT 1.5 million. Shares of Terme 3000, with a similar low turnover, gained 6.9%. With more traded shares, the highest growth was recorded by those of Luka Koper (+6.1% in the past month). Prices of fifteen shares decreased in June. Shares of `ivila Kranj lost the most in value (-13.4%); similarly, also shares of Salus (- 6.0%) and Emona obala Koper (-4.7%) followed the fashion.
Year-onYear, the prices of twenty-eight shares on the official market increased, the most significant increases being the shares of Aerodrom (+84.9%), Nika (+81.9%) and Luka Koper (+79.7%). Prices of four shares decreased, with Pivovarna Union (-11.6%), Comet (-6.8%) and Tehnounion (-3.2%) among the worst losers.
Foreign investments
The net inflow of all non-residents' investments (direct and portfolio investments into shares and bonds, without primary issues) totalled SIT 3,098.5 million in June; out of that, the outflow on the organised market amounted to SIT 507.0 million, and the inflow on the off-the-organised market SIT 3,605.5 million. In June, foreign investors accounted for 11.43% of turnover on the organised LJSE market. The level of foreign ownership in shares of Slovene companies (according to the market capitalisation as at the last day of the month) reached 4.66% in June 2004. Among the shares with considerable market capitalisation, the foreign ownership increased most notably during the past twelve months in LIV Postojna (+78.58 percentage points), Aktiva Invest (+13.76 percentage points) and KD Group (+5.39 percentage points). In contrast, foreign ownership decreased the most in Merkur (-19.55 percentage points), Droga (-18.72 percentage points) and Juteks (-14.18 percentage points).
Market capitalization
On 30 June 2004, the total market capitalisation of all securites traded on the Ljubljana Stock Exchange (including shares of investment funds - SIT 221.6 billion) amounted to SIT 2,727 billion which was SIT 35.3 billion or 1.3% more than the previous month. With regard to May, especially the market capitalisation of bonds was on the increase, by 3.2% or by SIT 30.4 billion, out of which the admission of new bonds made for SIT 25.2 billion.
The market capitalisation of shares and investment funds grew by SIT 2.5 billion respectively.
Year-on-Year, the market capitalisation of shares on the official market increased from SIT 791.61 billion to SIT 1,110.06 billion (by 40.2%). In the same period of time, the market capitalisation of shares on the free market grew by 63.4%, from SIT 252.78 billion to SIT 413.09 billion. On 30 June 2004, the market capitalisation of all securities traded on the LJSE, without the investment funds (SIT 1,523.15 billion), represented 26.86% of the GDP in 2003 - SIT 5,671 billion (at current prices). Source: The Statistical Office of the Republic of Slovenia.
