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The total turnover on all market segments of the Ljubljana Stock Exchange (LJSE) in September 2005 amounted to SIT 14.4 billion. The turnover in September was therefore 13.8% lower than last year's average. Compared to September 2004, the total turnover decreased in size by SIT 6.8 billion (-32.2%).
In September 2005, shares of listed companies amounted to 73.0% in the overall LJSE turnover structure. These were followed by bonds with a 17.1% share in the overall turnover structure, while investment funds came next, trading in the amount of 9.6% of total turnover. The smallest share of turnover was represented by trading in treasury bills (0.2%). In the last month, shares of listed companies gained 5.0 percentage points in the overall turnover structure. Shares of investment funds lost 4.3 percentage points in the overall turnover structure, while bonds lost 0.9 percentage points.
During the 22 trading days in September, a total of 21,681 transactions was concluded. On average, this amounts to 986 transactions per day, or rather 28.6% less than the average for last year. The average daily turnover in September amounted to SIT 653.2 million, or rather 16.8% less than last year's average.
Turnover included all trades on official and semi-official market, excluded block and TUVL trades.
Block trading
In September 2005, LJSE members reported 128 block transactions in a total value of SIT 16.4 billion. The total monthly turnover of registered block trades thus exceeded the BTS system turnover by SIT 2.0 billion. The average value of a single registered block transaction in September amounted to SIT 127.8 million, while the average value of a transaction concluded via the BTS system amounted to SIT 662,800.
Most traded securities and members' volume of trading
In September, the highest volume of trading was recorded with the following shares: Krka (SIT 4.0 billion), Mercator (SIT 1.5 billion), Petrol (SIT 678 million) and Gorenje (SIT 437 million). On the bonds market, the highest amount of trading in September was once again represented by bonds of Slovenska odskodninska družba (2 issues), which amounted to SIT 1.4 billion in turnover. In the category of investment funds, the most traded securities in September were investment fund shares (IDs) of NFD 1, which represented 460 million in turnover. These were followed by shares of KD ID (SIT 219 million) and Maksima ID (SIT 128 million) respectively.
The most active LJSE member in September was Poteza. Its brokers concluded SIT 3.1 billion worth of trading in the past month. This represents 10.6% of the total LJSE turnover. Brokers of Nova Ljubljanska banka (SIT 2.8 billion) and Bank Austria Creditanstalt (SIT 2.3 billion) followed respectively.
Indices
The SBI 20, the official market index, fell by 1.3% in September. The index ran up the largest share of the loss in the second half of the month. It reached its highest value on 15 September at 4,580 points, and the lowest on 28 September at 4,302 points, which is actually the lowest the index has fallen this year. In the last twelve months, the SBI 20 has fallen by 7.2%.
The Investment Funds Index PIX, lost 1.7% of its value this September. Like the SBI20, the index lost most of its value in the second part of the month. In the last twelve months, the index has fallen by 6.3%.
In September, the Bond Index (BIO) gained 1.0%. The index finished the highest number of trading days on a positive note out of all the LJSE indices (ten). In the last twelve months, the index has grown by 3.0%, making it the highest yielding index on the Ljubljana Stock Exchange in this period.
Price movements of selected shares
On the official market of the Ljubljana Stock Exchange, prices of nine shares increased out of a total number of 24. Among the shares included in the SBI 20 index, the biggest growth was recorded by shares of the following companies: Intereuropa (+4.1%), Krka (+3.1%), and Luka Koper (+1.0%). On the other hand, the worst performers in September were shares of Terme Catež (-8.4%), Istrabenz (-6.0%) and Aerodrom (-5.2%).
The annual comparison period shows that in the last twelve months, the prices of six shares on the official market increased. Among the shares included in the SBI 20 index, the shares of the following companies recorded the biggest growth in the stated period: Sava (+12.8%), Aerodrom (+9.2%), and Krka (+5.3%). On the other hand, prices of seventeen shares fell. Among the SBI 20 shares, Etol was the biggest loser, recording a loss of 22.2%. The shares of Žito (-21.9%), and Intereuropa (-21.5%) also lost a lot of ground.
Trading through the Market Marker Segment
In September 2005, LJSE members reported 200 transactions via the Market Marker Segment in a total value of SIT 68.4 billion. The average value of a single registered transaction amounted to SIT 342.1 million. The largest share of turnover on this market segment was represented by trading with bonds issued by the Republic of Slovenia th (59 issue), while the most active LJSE member on this market segment was Perspektiva.
Market capitalisation
On 30 September 2005, the total market capitalisation of all securities traded on the Ljubljana Stock Exchange amounted to SIT 1,492 billion. The highest participation in the market capitalisation was recorded by shares of listed companies (49.6%); these were followed by bonds (45.0%) and investment funds (5.4%). In the last month, the LJSE market capitalisation fell by SIT 36.2 billion.
The fall in market capitalisation is, above all, a result of the exclusion of shares from trading, as well as dips in stock prices. Due to the fall in prices, the market capitalisation of investment funds shares has also dropped, namely by SIT 3.1 billion. The market capitalisation of bonds, on the other hand, increased by SIT 48.5 billion.
Within one year, the market capitalisation of shares on the official market decreased from SIT 1,203.3 billion to SIT 1,068.7 billion (-11.2%).
