The total turnover on all market segments of the Ljubljana Stock Exchange (LJSE) in November 2002 reached SIT 40.33 billion, which was by SIT 12.3 billion less than in October 2002. If compared to November 2001, the turnover increased by SIT 104 million. In 2002,the sum turnover has already reached the level of SIT 419.0 billion -in average SIT 38.1 billion per month, or 31%more than the average monthly turnover of the ear before. The total in this ear 's turnover has b now exceeded the total in 2001.
The greatest share in the November 2002 turnover again belonged to the shares of listed companies, which had made 55.2%of the total, next were bonds, with the 25.4%share. After the period of two months, bonds thus once more succeeded in outdoing the shares of investment funds that participated with 18.6%. There were no transactions with short-term securities, while the share of pension coupons amounted to 0.9%. The official market alone contributed 63.0%of the total turnover in November 2002.
In the period of 20 trading days in November, there were 44,937 concluded transactions, or in average, 2,247 transactions a day (520 more than this year 's average). Most transactions included the shares of investment funds -42.9%, and shares of listed companies -39.2%. Pension coupons made for 13.4%of all trades on the Exchange.
In November, the average daily turnover exceeded this year 's average by 10%, and equaled SIT 2.2billion .The average value of a single transaction was lower than a month before, at SIT 897,568 (in October 2002 -SIT 1.11 million). In comparison to the last year 's average the value of a single November transaction decreased by SIT 169 thousand.
Block trading
LJSE members registered 112 block trades in November 2002,in the total value of SIT 15.7 billion that corresponded to a 39.0%share of the overall November turnover. Block trades have represented 43.4%of the total turnover in 2002.An average single transaction in block trades amounted to SIT 140 million, whereas a single transaction with block trades excluded was equal to SIT 549 thousand, in average.
Most traded securities and members 'volume of trading
In November, five most traded securities, together with their block trades were those of Krka, Gorenje, Petrol, Mercator and Merkur. Together, they participated with 57.2%in the total November turnover in shares, and with 39.8%in the total Exchange turnover. Most traded bonds in November 2002 were issued by the Republic of Slovenia (14th issue),which contributed SIT 2.0 billion. Next were the issues of Slovenska odškodninska družba, of the 2nd issue, with SIT 1.7 billion. The latter were followed again by the bonds of the Republic of Slovenia (38th issue),with SIT 1.8 billion, and finally by the corporate bonds of Nama, with the total of SIT 742 million Among the shares of investment funds, those most traded were: Triglav steber 1 (SIT 2.79 billion) Atena PID (SIT 837.8 million),Zlata moneta 1 (SIT 615.6 million),and NFD 1 (with SIT 569 million).
In November, the ten most active Stock Exchange members concluded 63.3% of the total turnover, which was by 6 percentage points less than in October. Abanka, Nova Ljubljanska banka and Probanka alone contributed 26.1% of the LJSE turnover.
Indices
In November 2002,the value of all three major indices of LJSE increased. The blue chip index -SBI 20 -gained 0.9% of its value during last month and reached its historical highest value at 3,547.64 points on 8 November 2002.From then on, its value decreased to 3,402 points (on Nov 20),and finished the month at 3,460.35 points.
The IPT Index rose in value by 6.7% in November 2002 .The records of its historical high at 2,682.18 points date to 27 November. Again, the index was the most stable among the three, and altered its value by 0.6%per day, in average.
In November 2002,the (Authorised)Investment Funds Index (PIX)rose by 10.5%.It experienced another record rate in its entire history, at 3,013.05 points, also on 27 November 2002.Out of the total of 20 trading days, the index gained in value in 14 days. All three key LJSE indices rose in value by more than 50% during the last year. In comparison to 30 November 2001,the value of the PIX Index increased most (by 87%),while the SBI 20 and IPT indices gained 62%and 51% respectively.
During last month, the value of the Bond Index (BIO)grew by 0.6%,but did not alter if compared to 30 November 2001.
In November, all five industrial sector indices also increased their values - Chemicals gained 7.6%, while Oil and Gas came second with 5.0%.They were followed by the Food and Beverages (+3.3%),Transport (+1.6%),and Trade (+0.9) indices.
Price movements of selected shares
On the official LJSE market, the prices of twenty-two listed shares, out of the total of thirty-six, went up in November. The shares of Terme Catež grew most, by 11.7%. Next were those of Droga (+10.1%),Delo (+9.7%)and Aerodrom (+8.4%). Prices of eleven shares decreased in November .The ordinary shares of Lek fell by 17.5%, preferred shares of Probanka 5.8%,Luka Koper 4.0%and Kompas MTS 3% in their value.
According to the comparison of prices in one year 's time, the value of thirty-three securities from the official LJSE market advanced during the last twelve months. Lek (the preferred shares) gained 146%,next were the low-liquid shares of Nika (+134.4%). The price was doubled with the total of nine shares. Three shares experienced a decrease in their value -again, those of Banka Koper did worst (- 41.6%), whereas the shares of Emona obala Koper lost 18.2% of their value.
Market capitalization
On 30 November 2002,the overall market capitalisation of all securities traded on the Ljubljana Stock Exchange (together with shares of investment funds -SIT 261.6 billion) totalled SIT 2,204 billion ,which was by SIT 83.6 billion, or by 3.9%, more than a month before. If compared to October 2002,the capitalisation of bonds again increased the most (10.9%),and was followed by the investment funds shares (with 9.2%). The capitalisation level of pension coupons, however, decreased by 4.0%as well as that of shares of listed companies (by 0.3%).
During a one-year period, market capitalisation of shares on the official market increased -from SIT 681 billion to SIT 1,044 billion (b 53.4%);similarly, capitalisation of shares on the free market also rose b 43.7%(from the initial SIT 155 billion, to SIT 222 billion).On 30 November 2002,the market capitalisation of all securities listed equalled SIT 1,267 billion, and represented 27.7%of GDP for the year 2001 -or SIT 4,566 billion (at current prices).Data was provided by the Statistical Office of the Republic of Slovenia.
Foreign investments
Net inflow of all foreign investments (direct and portfolio investments into shares and bonds, but with no primary issues) totalled SIT 164.8 billion (total in 2002 -SIT 327.1 billion)in November 2002.The level of the outflow on the organised market reached SIT 1.14 billion, while the off-the-organised market registered an inflow of SIT 166.0 billion. Among those most liquid, foreign ownership decreased the most in shares of the Krka (-0.77 percentage point)and Helios (-0.11 percentage point)companies, while in Lek and Gorenje there was an increase by 79.20,and 0.31 percentage points, in that order. In November, the non-residents 'share in the total turnover was 9%.Foreign ownership participated with 18.17%in the market capitalisation of the Slovenian companies at the end of November 2002.
