The overall turnover on all market segments of the Ljubljana Stock Exchange (LJSE) in October 2002 amounted to SIT 52.61 billion, which was SIT 11.1 billion more than in September 2002. In comparison to October 2001, the turnover increased by SIT 22 billion. In 2002,the total turnover to date has reached SIT 378.7 billion - SIT 37.9 billion per month, on average, or 30% more than the average monthly turnover of the previous year. This year's total turnover to date has already exceeded the total turnover of 2001.
Again, the shares of listed companies made for the greatest share in the October turnover - 60.7%; second best were shares of investment funds (with 24.8%)which thus outdid bonds (with 12.6%) one again this year. In October, the first two transactions with short-term securities in this year were concluded, while pension coupons participated with 1.4%. The official market alone contributed 60.5% of the total turnover for October 2002.
During the 22 trading days in October there were 47,068 transactions concluded, or on average, 2,139 trades per day (465 more than this year's average). Most transactions included shares of investment funds (40%), and shares of listed companies (38.3%). A full fifth of all transactions was concluded with pension coupons, which was their highest historical share.
In October, the average daily turnover exceeded this year's average by one third and amounted to SIT 2.4 billion (for the first time this year beyond the SIT 2 billion limit). The average value of a single transaction was relatively lower than a month before, at SIT 1.12 million (in September 2002 - SIT 1.26 million). However, compared to last year's average, the value of a single transaction rose by SIT 99 thousand.
Block trading
LJSE members listed 169 block trades in October 2002 (this year's top result), in the total value of SIT 25.1 billion, or 47.8% of the overall October turnover .Block trades represented 43.9% of the total turnover in 2002. An average single transaction in block trades in October amounted to SIT 149 million, while a single transaction, with no block trades was equal to SIT 586 thousand, on average.
Most Traded Securities and Members Volume of Trading
In October the five most traded securities, along with block trades, were the following: Lek,Krka,Infond holding (93% in block trades), Petrol and Pivovarna Laško. Together, they participated 70.3% of the total October turnover of shares, or 70.6% of the total Exchange turnover. Most traded bonds in October 2002 were those issued by the Republic of Slovenia (38th i ssue), which contributed SIT 2.4 billion. Bonds of Slovenska odškodninska družba - the 2nd issue - followed with SIT 1.7 billion, as well as two more issues of the Republic of Slovenia - the 26th, with SIT 355 million, and the 37th issue, with SIT 311 million respectively. Among shares of investment funds, those most active were three investment companies - Infond ID with SIT 3.1 billion, Triglav steber 1 (with SIT 2.3 billion), and NFD 1 (with a turnover of SIT 2.1 billion). Most traded PID shares belonged to PID Zlata moneta 1, with SIT 1 billion.
Ten most dynamic LJSE members concluded 68.9% of the total turnover in October, which was 5 percentage points better than in September. Cogito BIS B.H.,Nova Ljubljanska banka and Abanka jointly contributed 30.7% of the LJSE turnover.
Indices
In October 2002,the value of all three major indices of the Ljubljana Stock Exchange rose. The blue chip index - SBI 20 - gained 3.6% of its value during the last month, and reached its record high at 3,472.06 points on 24 October 2002. The SBI 20 was less volatile than in September, its value varied only by 0.9% per day, on average.
The IPT Index rose by 5.8% in October 2002. Its historical top value at 2,495.38 points was recorded on October 30, the final trading day. Furthermore, the index was the most stable among the three (and altered its value by an average of 0.6% per day).
In October 2002, the (Authorised) Investment Funds Index - PIX increased by 6.1% in its value. It experienced its historical record value on Thursday, 24 October (very much like the SBI 20) at 2,722.75 points. During last month, the PIX Index was the most volatile of the three, its average daily change having amounted to 1.12%.
In October, the value of five industrial sector indices increased as well -with Pharmaceuticals, which gained 10.5%, Chemicals (+5.4%),and Transport (+3.5%)among the first three. The Oil and Gas Index rose by 2.3%, while Trade was the weakest gainer, with 1.7%rise.The only industrial sector which suffered some loss in the value of its index was that of Food and Beverages (-0.3%).
Price movements of selected shares
On the official LJSE market, value of twenty-eight shares listed, from the total of thirty-seven, rose in value n October. The GPG shares grew most, by 27.6%,with only 12 concluded transactions (turnover of SIT 920 thousand). Žito was second best (+16.7%), with ordinary and preferred shares of Lek (both +14.3%)following. Value of six shares decreased in October . Shares of Pivovarna Union lost the most - 18.2% of their value, with only 33 transactions, in the total amount of SIT 2.5 billion. Next were shares of Delo prodaja (-10.9%), Emona obala Koper (-10.3%), and Radenska (-2.5%).
According to the comparison of prices in one year 's time, the value of thirty-three securities on the official market advanced during the last twelve months. Nika rose most (by 166%), however, with a total of only 31 transactions in 2002, in the amount of SIT 31 million. Shares of Lek rose as well (preferred by 152.7%, and ordinary by 147.9%). The value was further doubled with seven other shares. Four shares experienced a decrease in their value - Banka Koper (-41.3%), Emona obala Koper (-22.6%), and Koloniale Maribor (-7.5%).
Foreign investments
Net outflow of all foreign investments (direct and portfolio investments into shares and bonds ,but no primary issues) amounted to SIT 1,680.5 billion (total in 2002 - SIT 162.3 billion).The level of organised market outflow reached SIT 2,571.9 billion, whereas the off-the-organised market experienced an inflow of SIT 891.3 million. Among those most liquid, foreign ownership decreased the most in shares of the Intereuropa (-2.4%), Krka (-1.5%) ,and Lek (-0.6%) companies. In October, the share of non-residents in the total turnover was 28%. Foreign ownership participated with 8.96% of the market capitalisation of Slovenian companies at the end of October 2002.
Market capitalization
On 31 October 2002,the overall market capitalisation of all securities traded on the Ljubljana Stock Exchange (shares of investment funds inclusive - SIT 239.7 billion) totalled SIT 2,120 billion, or by SIT 126.3 billion (or +6.3%) more than a month before. Compared to September 2002, the capitalisation of bonds increased the most considerably - by 9.4%, followed by the capitalisation of investment funds'shares (+5.8%), while other listed companies recorded a 5.2% increase. The capitalisation level of pension coupons decreased by 25.7% during last month.
Year-on-year, market capitalization of securities listed on the official market rose from SIT 653 billion to SIT 1,052 billion (an increase of 61%); similarly, capitalisation of shares of the free market grew by 50.4%, from SIT 145 billion to SIT 219 billion. On 31 October 2002, market capitalisation of all securities listed equaled SIT 1,271 billion and represented 27.8% of GDP for the year 2001 -SIT 4,566 billion (at current prices). Data provided by the Statistical Office of the Republic of Slovenia.
