The total turnover of securities on the Exchange amounted to SIT 23.57 billion in November 2000, which is 10% higher than the November 1999 figure. A higher monthly value of the total turnover was recorded only in March this year, when it was SIT 28 billion. The total value of SIT 216.49 billion of securities traded in the first eleven trading months of 2000 was 2.2% below the 1999 figure for the same period.
In November 2000, the highest share in the structure of the total turnover was reached by shares (51.53%). The share of turnover of shares of investment funds was 31.93% and of bonds was 15.98%. In November shares recorded the biggest drop in the share of turnover (by 15.43% points). This was mostly a result of increase in the share of shares of investment funds, which recorded the highest value in this year. Trading in short-term securities hasn't occurred in the last seven months. Pension coupons made up 0.56%of the total turnover or SIT 131 million. The share of the official market in total turnover in November was 79.41%, which is the highest monthly figure of this year.
The average number of transactions per day in November was 1,534 or 32,218 transactions in twenty-one trading days. In the first eleven months of 2000 the daily average of transactions was 1,585 and was below the average of 1,760 in 1999. In November 2000, like in the other months of this year, the most traded securities were shares of investment funds. The average number of transactions with shares of investment funds was 844 per day or 55.03% of total number of transactions, for shares the figures were 594 or 38.73%.
The average daily turnover was SIT 1.12 billion, which is above the average of SIT 1 billion in 1999.The average value of a single transaction in November was SIT 732 thousand. The number of shares of companies traded was 2,705,103 and the number of shares of investment funds traded was 132,785,435.
The most traded shares on the Exchange market (block trades are excluded) were Lek, Mercator, Krka, Fructal and SKB banka. These five issuers represented 51.79% of the turnover of shares on the Exchange. The most traded bonds in November were bonds of 12th issue of the Republic of Slovenia and bonds of 2nd issue of Slovenska odškodninska druzba, which represented 69.07% of the turnover of bonds on the Exchange. Five most traded shares of PIDs (Maksima 1, In ond Zlat,Triglav steber 1,NFD 2 and NFD 1) in November represented 61.18%o the turnover of shares of PIDs on the Exchange. In November 2000, ten most active Exchange members concluded 68.50% of the total turnover. The most active members were Publikum,Perspektiva, Medvešek Pušnik,Nova Ljubljanska banka and Probanka.
Block trading
In November 2000 107 block trades were reported by the Exchange members, with a total value of SIT 11.64 billion. The value of block trades represented 49.37%of the total turnover in November 2000 and was at its 1999 average level o 49%and higher than its average level of 37% in1998.In the first eleven months o 2000 1,038 block trades were reported with the value of SIT118.38 billion or 54,68% of the total turnover in the period concerned.
Indices
The Slovenian Stock Exchange Index - SBI 20
In November the performance of the index SBI 20 was mostly positive except for a few slight oscillations in the middle of the month, hence daily changes of SBI 20 were not significant. In November the value of the index SBI 20 increased by 3.63% from 1,676.42 points to 1,737.22 points. The last upward trend of the index SBI 20 started in the beginning of October 2000 and the index increased by 6.43%in this two months.
In November the index SBI 20 started trading at the value of 1.676,42 points. Over the next seven days the index increased to 1,704.22 points and stayed above 1,700 points for the rest of the month. The highest average daily change of SBI 20 was 0.96%. The highest increase in value was recorded on 10 November - by 16.51 points - and the biggest drop on 21 November - by 10.17 points.
The Non-weighed Slovenian Stock Exchange Index - SBI 20NT
The performance of the Non-weighed Slovenian Stock Exchange Index - SBI 20NT - in November was similar in movement to the index SBI 20.Those similar movements have been characteristic since the starting day of calculation of the index SBI 20NT,1 July 2000. In November the value of the index SBI 20NT increased by 2.54% from 1,656.69 points to 1,698.84 points. The average daily change of SBI 20NT during the whole month was between 0.01%and 0.89%.
The Free Market Index - IPT
The highest increase in November was recorded by the index IPT, which is composed of ordinary shares of 15 different issuers from the free market. At the end of November the value of IPT was 1,613.37 points, hence it recorded a 8.75% increase compared to the value at the end of October, when it was 1,483.55 points. The index IPT recorded a positive performance almost during the whole month and displayed the highest daily change (2.05%).
Index of Authorised Investment Funds - PIX
In November the value of the index PIX increased by 5.51% from 1.356,67 points to 1,431.44 points. During the whole month the index PIX exhibited a positive performance and its highest daily change was 1.24%. The highest increase in value was recorded on 30 November - by 1.24% - and the biggest drop on 14 November - by 0.65%.
The Stock Exchange Bond Index - BIO
In November the value of the Bond Index BIO did not change for most of the month and so the spread between the minimum and maximum value was only 0,63 points. The highest average daily change of BIO was 0.36%. The value of BIO at the end of November was 107.81 points, hence BIO recorded a 0.43%increase in value in November.
Industrial Sector Indices
For the first time since the starting day of calculation of industrial sector indices, 1 July 2000, the values of all six indices increased. They recorded a growth ranging from 0.04% to 10.37%. The highest increase was recorded by the index Trade (10.37%) mostly due to the grow in price of shares of Mercator by more than 15% and shares of Zivila Kranj and Merkur by more than 10%. The index Transport grew by 5.51%, the index Pharmaceuticals by 2.38%, hence other indices recorded a less than 1% increase.
Price movements of selected shares
In November 2000 the prices of twenty-three shares of those listed on the official market increased, seven of them by more than 10%.The highest price growth rate was recorded by shares of the company Koloniale (17.65%). Shares of the companies Mercator, Gorenje, SKB banka, Zivila Kranj, BTC and Merkur also recorded a more than 10% growth in share price in November. The prices of thirteen shares of those listed on the official market decreased, the highest declines were recorded by Radenska (25.76%) and by Tehnounion (12.70%).Other shares with negative monthly return recorded a less than 1%decline in price in November. In one year period the value of eleven shares of those listed on the official market increased - among them SKB banka with the highest rise of 45.58%, ordinary and preferred shares of the company Lek and shares of company Koloniale. The shares of Dolenjska banka reached the same value as the year before.The value of twenty shares fell - shares of Kovinotehna (ordinary and preferred),Radenska,Petrol and Nika were the most affected.
Foreign investments
In November the net inflow of foreign investments amounted to SIT 743.7 million, which is slightly higher than this year 's average. A net inflow of SIT 8.11 billion of foreign investment was recorded in the first eleven months of 2000. The off-the-exchange market contributed an inflow of SIT 7.95 billion and the exchange market a net inflow of SIT 163.4 million.
In November exchange transactions recorded a net inlow for the third month running. It amounted to SIT 131.2 million.
Foreign investors accounted for a 2.09%of the shares turnover on the Exchange in November. The share of foreign ownership in the market capitalisation of shares on the Exchange was 7.82% at the end of October, which is the highest percentage this year. The share of foreign ownership reached its highest level in May 1998 -12.23%.
Capitalisation
On 30 November 2000 the total market capitalisation of securities, traded on the Exchange (including shares of investment companies) amounted to SIT 1,071.99 billion, around SIT 15 billion higher than its level on 31 October. The increase was mostly due to an increased market capitalisation of shares of the official market by SIT 40 billion, which in turn was also due to the transfer of shares of the company Gorenje from the free market to the official market this month.Their market capitalisation amounted to more than SIT 26 billion. Due to this transer the market capitalisation of shares of the free market fell by SIT 15 billion. The market capitalisation of bonds of the official market decreased by SIT 20 billion in November, mostly due to delisting of the 2nd issue o the Republic of Slovenia. In November the market capitalisation of forty four investment funds was SIT 160.05 billion,which was an increase of SIT 8 billion.
The total market capitalisation of securities, traded on the Exchange increased by 19.15% in a one year period. The market capitalisation of the shares listed on the official market of the Exchange increased from SIT 434.36 billion to SIT 543.28 billion or by 25.08%in one year 's time. The capitalisation of shares on the free market increased in the same period by 1.37%.
At the end of November 2000, the market capitalisation of all shares traded on the Exchange (official and free markets) (SIT 666.42 billion) made up 18.32% of GDP in the year 1999 - SIT 3,637 billion at current prices. (Source: Statistical Office of the Republic of Slovenia, April 2000).
