Slovenian Share Indices Extend Gains in Weak Turnover

The blue-chip SBITOP index of the Ljubljana Stock Exchange (LJSE) rose a further 2.36% to 928.10 points and the broader 15-share SBI20 index gained 2.17% to 3,972.70 points on Monday.

There were no special reasons for the rises, Mojsa Sen, head of the brokerage department of local KD BPD brokerage, told SeeNews.

“For the time being I expect gains [in the next few days as well] but not as big as today's,” Sen said.

Total turnover on the LJSE rose slightly to 1.67 million euro ($2.2 million) on Monday from 1.38 million euro on Friday, but remained low. The LJSE has been dogged by weak turnover recently as cautious investors are waiting to see what course the local economy will take amid the global economic slowdown, market analysts have said.

Shares in blue-chip drug maker Krka traded most on Monday as they gained 3.2% to an average price of 55.20 euro on 824,000 euro of turnover.

Krka shares are rising ahead of the announcement of the company’s 2008 financial results on Thursday, Sen said. “Everyone expects that the results will be good […] After the announcement, things will calm down,” she added.

The country’s largest insurer, Zavarovalnica Triglav, topped the list of blue-chip gainers on Monday, rising 4.34% to 17.56 euro.

Brewer Pivovarna Lasko was the only loser among the 10 blue chips, falling 1.5% to 45.82 euro.

The SBI20 index slipped 67.49% and the SBITOP index lost 66.09% in 2008. The two indices have clawed back some 7.5-8.5% of their value so far this year amid weak turnover.

($ = 0.7614 euro)