The total turnover of securities on the Exchange amounted to SIT 145.49 billion in the first six months of 2001.It was almost SIT twenty billion higher than the value of securities traded in the same period of 2000.The average monthly turnover in the first half of the year thus reached SIT 24.25 billion.
In the period concerned, the share of turnover of different types of securities in the total turnover, on all three segments of the Ljubljana Stock Exchange was as follows: shares accounted for 60.47% (10 % more than in the same period of 2000), bonds reached 15.96% or 10% less than in the first half of 2000, shares of investment funds made up 22.67% and short-term securities less than 0.5% of the total turnover. The share of the official market in the total turnover in six months was 61.53%, also up by 6% points from the previous year. The average number of transactions per day in 122 trading days was 1300, sharply down from 1,806 transactions in 2000. The total number of transactions reached 223,931. The number of shares of companies traded was 16,255,959 and the number of shares of investment funds traded was 611,581,356. The aver-age daily turnover was SIT 1,192.5 million vs. the average of SIT 1 billion recorded in 2000 and the average value per trade was SIT 917 thousand.
Block trading
In six months 702 block trades vs.594 in the same period of 2000 were reported by the Exchange members, with a total value of SIT 85 billion (vs.SIT 70.487 billion). The value of block trades represented more than half (58.73%) of the total turnover in the period concerned and was more or less on the same level as one year ago. The average value of a block trade in the six months of 2001 was SIT 121.7 billion.
Indices
The Slovenian Stock Exchange Index - SBI20
From the closing level of 1,807.94 points at the end of the year 2000, the index increased to 1,903.03 by 9 January 2000 - the highest value in the first six months of this year. After that date the index declined to 1,800 points by 18 January and then recovered up to 1,875.35 points at the end of January. After this relatively volatile month, the index SBI set a negative trend and gradually declined to its lowest level of 1,700.24 points of the period January - June 2001.
From that level the SBI20 increased in value by 6.6% to reach 1,812.54 points by the end of June, giving a nominal return of only 0.25%in six months, still much better than the semi-annual return in 2000,when the index recorded a negative nominal return of 10%. The annual return (June 2000 - June 2001)) was as high as 11.6%.
The Non-weighted Slovenian Stock Exchange Index - SBINT
The movements and performance of the SBI 20NT index more or less followed the weighted SBI20 index. That was due to the same constituent parts. From the end of December 2000 until the end of June 2001 its value decreased by 0.28%, from 1,769.15 points to 1,764.28 points. In twelve months the index increased in value by 8.62%.
The Free Market Index - IPT
The free market index IPT experienced almost five months of continuous decline and lost 13% of the value from the beginning of the year until 23 May 2001 when it reached the lowest level of 1,415.06 points. It returned to the positive direction in June with a 2.96% nominal return. It ended the month at 1,510.56, which was 7.18%lower than on 31 December 2000.
The Authorised Investment Funds Index - PIX
On 31 December 2000 the value of PIX was 1,520.78 points and decreased to 1,630.04 points in the last six months. That means a negative semi-annual return of 10.57%. The start of the year was optimistic and the index reached its highest level of the period concerned (1,558.97 points) on as early as 9 January 2001.Then it started to decrease to reach its lowest level of 1,328.54 points on 24 May. The value of the index one-year ago was 1,254.61,which gives us an annual return of 8.4%.
The Stock Exchange Bond Index - BIO
In the year 2001 the Bond Index BIO started trading at the value of 109.03 points and its value increased in the first six months to 109.20 points or 0.16%. The index had a value of 105.55 points one year ago.
Industrial Sector Indices
Four out of six industrial sector indices increased in value in the first half of 2001.Oil and gas gained most (13.69%), followed by Pharmaceuticals (1.42%),Transport (1.40%) and Chemicals (0.91%). Two indices decreased - Trade by as much as 14..44% and Food and beverages by 3.1%.
Price movements of selected stocks
In the six month period from January to June 2001 the prices of nineteen shares of those listed on the official market increased: Banka Koper by 121.63%, Kovinotehna (preferred) by 19.02%, Dolenjska banka by 15.49%, Istrabenz by 13.96% and Petrol by 13.5%. The price of six shares increased between 5% and 10%, while two issues (Delo Prodaja and Geodetski zavod) were not listed six months ago. Prices of another twenty-one shares decreased, out of those NIKA by 46.31%, shares of Živila Kranj and Gradbeno podjetje Grosuplje by more than 30%,four shares lost between 20%and 30%of value, four lost between 10% and 20% and another four shares between 5% and 10%.
Foreign investments
At the end of June non-residents held their stakes in 420 companies (Source: Central Securities Clearing Corporation - KDD) out of 870 registered with KDD. Out of those 420 companies three are 100% owned by foreigners, the share of foreign ownership accounted for more than 50% in only 25 companies, between 10% and 50% in 32 companies, 5%to 10% in 18 companies and less than 5% in 342 companies. The share of foreign ownership of companies listed on the Exchange amounted to 8.41% of the market capitalisation at the end of June 2001.
A net inflow of foreign investments was recorded in the first six months of 2001 and reached SIT 21.1 billion. (Source: the Bank of Slovenia). Out of that the off-the-exchange market of direct investments contributed SIT 20.8 billion of inflow and the on-the-exchange market investments in stocks a net inflow of SIT 291 million. Foreign investors contributed a marginal 1.1%to the turnover on the Exchange in the six months of 2001.
Capitalisation
The total market capitalisation of securities traded on the Exchange (including shares of investment companies) on 30 June 2001 amounted to SIT 1,191.8 billion. It increased from its level of SIT 1,138.4 billion on 31 December 2000 by 4.69%. The market capitalisation of the shares listed on the official market of the Exchange increased by 4.58% to more than SIT 606 billion. The capitalisation of shares on the free market increased in the same period by 4.23% to SIT 131 billion. The market capitalisation of investment funds decreased by 17% to SIT 142 billion. At the end of June 2001, the market capitalisation of all shares traded on the Exchange (SIT 736.98 billion) made up 18.09% of GDP in the year 2000 - SIT 4,074 billion at current prices.(Source: Statistical Office of the Republic of Slovenia, April 2001).
