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Nov 06, 2007 17:05 EEST
November 6 (SeeNews) - Shares in Slovenian blue-chip rubber-to-tourism group Sava extended gains on Tuesday, rising by 5.0% for an unknown reason, brokers said.
Sava gained 5.03% to an average price of 680.27 euro ($989) on the Ljubljana Stock Exchange on Tuesday in a turnover of 345,577 euro after rising by 4.6% on Monday.
“This week Sava is rising a lot. It is difficult to say what stands behind the rise,” Marko Jovic, an analyst with local bank Abanka Vipa, told SeeNews.
Jovic said Sava has important investments in local banks Gorenjska Banka and Abanka, and spa resort operators. “Now the nine-month financial results are expected, this could also be a reason for the rise,” he said, adding that only a limited amount of Sava shares are being offered on the market.
Sava is expected to publish its results on November 12.
“Sava may rise further,” Jovic said but declined to elaborate.
($ = 0.69 euro)
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