The total turnover on all market segments of the Ljubljana Stock Exchange (LJSE) in September 2003 totalled SIT 28.9 billion, which was 7.6% more than the prevcious month, and 10.8% more than this year's monthly average. In comparison to September 2002, the turnover decreased by 30.4%, or by SIT 12.6 billion.
In September 2003, shares accounted for 45.5% of turnover, bonds contributed 33.4%, and shares of investment funds 21.2%. No transactions were concluded with short-term securities.
During the period of 22 trading days in September, there were 31,181 transactions concluded, or on average 1,417 trades per day. In September, this was the first time since February 2003 that more than 1,400 transactions had been concluded per day. This year's average has been 1,308 transactions daily.
In September, the average daily turnover equalled SIT 1,31 billion, which was SIT 29 million less than the previous month. The average value of a single transaction in September was SIT 927 thousand.
Block trading
The Stock Exchange members reported 96 block transactions in September 2003, a total value of SIT 11.3 billion, or 39.1% of the total monthly turnover, the lowest share in the present year. The average value of a single block transaction in September amounted to SIT 118 million, while the average value of a single transaction without block trades totalled SIT 566 thousand.
Indices
SBI 20, the official market index, gained 7.52% in September, and ended in the positive for the third successive month. The index has been growing in value throughout the month, as only five days (out of 22) were finished in the red. During the final two weeks in September, the index lost some of its value only once. On the level of the twelve-month period, SBI 20 gained 9.13% in its value, and finished the last month at 8.20% above the final level of the past year.
The IPT Index gained 10.46% in September. Among the LJSE indices, IPT has been the most volatile one as its value changed in average by 0.71% per day in September. Within the last twelve months, the IPT Index gained 30.17% in its value.
In September, the value of the PIX Index (Investment Funds Index) increased by 6.68%. Among the shares of investment funds included in PIX, those of Zlata moneta II PID and Infond PID gained the most in their value (20.6%) within the last month. In the period of the past twelve months, the value of the PIX Index improved by 21.93%.
The Bond Index (BIO) gained 0.95% of its value in September, when it once more reached its historical high (on 29 September, at 116.1 points), and also ended the month at that value. Within the last 12 months, the BIO Index gained 6.90% of its value.
In September, the values of all five industrial sector indices of the Ljubljana Stock Exchange increased, with Transport Index in the lead (+13.66%), in particular due to the growth in prices of shares of Luka Koper and Aerodrom. It was followed also by the Chemicals (+12.10%), Food and Beverages (+7.45%), Trade (+6.73%) and Oil and Gas (+4.34%) indices.
Price movements of selected shares
On the official market of LJSE, prices of twenty-six shares (out of the total of thirty-two) increased in September, among them, in particular, shares of Živila Kranj (+25.24%). Next were shares of Luka Koper (+23.07%), and Aerodrom (+15.11%). Prices of five shares, in contrast, fell during the past month. Shares of GPG decreased in value the most, for the second month in a row (-10.00%), with shares of Delo Prodaja (-5.66%), and prefered shares of Probanka (-3.32%) following.
Year-on-Year the prices of twenty-six shares on the official market increased during the period. The highest growth was recorded by the shares of Aerodrom (+62.81%), Luka Koper (+39.49%), and Comet (+30.91%). Prices of six shares decreased. In the lead, shares of GPG (-31.10%), followed by Kompas MTS shares (-21.07%), and shares of Emona obala Koper (-13.07%).
Foreign investments
Net outflow of all non-residents' investments (including direct and portfolio investments into shares and bonds, without primary issues) totalled SIT 3.19 billion in September; out of that the inflow on the organised market equalled SIT 1.14 billion, and the outflow on the off-the-organised market was SIT 4.33 billion. In September, the foreign investors participated with 13.93% in the turnover structure of shares on the organised market of LJSE. The level of foreign ownership of shares of Slovenian companies (according to the market capitalisation as at the last day of the month) was 6.01%, and increased most visibly during the past twelve months in Medve{ek Pu{nik (+24.2 percentage points) and in Svilanit (+15.9 percentage points). In contrast, foreign ownership decreased the most in Saturnus Avtooprema (-98.7 percentage points), Merkur (-4.9 percentage points), and in Kolinska (-3.8 percentage points).
Market capitalization
On 30 September 2003, the total market capitalisation of all securities traded on the Ljubljana Stock Exchange (together with shares of investment funds - SIT 257.43 billion) amounted to SIT 2,250 billion. The market capitalisation of shares increased by 8.3%, and the market capitalisation of shares of investment funds by 5.5%. The increase was due to the growth of prices on the market in the past month.
Year-on-year, the market capitalization of shares on the official market decreased, from SIT 988.3 billion to SIT 895.9 billion (by SIT 92 billion). Such a decrease resulted from delisting of Lek shares from the official market. Within the same period, the market capitalisation of shares on the free market increased by 26.6%, from SIT 219.5 billion to SIT 277.9 billion. On 30 September 2003, the market capitalisation of all shares traded, without the shares of investment funds (SIT 1,173.8 billion), represented 22.2% of the GDP for 2002 - SIT 5,284 billion (at current prices). Source: The Statistical Office of the Republic of Slovenia.
