Slovenian Share Indices Rise Further, Investors Still Cautious

The blue-chip SBITOP index of the Ljubljana Stock Exchange (LJSE) gained 0.82% to 1,255.61 and the broader 15-share SBI20 index went up 0.43% to 5,568.53.

“Trading today was very up-and-down [...] It was an ordinary day,” Franci Tusek, an analyst with local brokerage house Medvesek Pusnik, told SeeNews.

The Slovenian indices posted hefty gains at the beginning of last week when international markets rallied but sank on Wednesday and Thursday, dragged down by a global market slide before bouncing back on Friday.

Tusek expects the market to calm down in the following few days. “Things are slowly stabilising,” he said, adding that movements on foreign markets will influence LJSE trends to a large extent.

“Investors are still cautious," Tusek said, adding that they are starting to trade slowly but in volumes that are not too high.

Household appliance maker Gorenje was the top blue-chip gainer on Monday, rising 3.34% to an average price of 19.78 euro ($27) on 57,000 euro of turnover.

The country’s largest insurer, Zavarovalnica Triglav , was the top decliner among the 10 blue chips, falling 1.44% to 29.36 euro on turnover of 8,500 euro.

Shares of drug maker Krka, a blue-chip heavyweight, were most traded as they shed 0.33% to 70.16 euro on turnover of 1.87 million euro.

LJSE's total turnover rose slightly to 3.27 million euro on Monday from 2.92 million euro on Friday.

($ = 0.7447 euro)