Slovenian Share Indices Sink Further on Global Market Woes

The blue-chip SBITOP index of the Ljubljana Stock Exchange (LJSE) tumbled 4.07% to close at 1,265.91 and the broader 15-share SBI20 index sank 4.49% to 5,690.21.

The Slovenian market has not bucked the global crisis, Primoz Kovacic, head of the investment banking department at Maribor-based Raiffeisen Banka, told SeeNews.

Lack of investor confidence rules the market, Kovacic said, adding that long-term investors are also selling off. “On the other hand, there is no demand. No one knows how long it will last.”

Trends on the LJSE in the days ahead depend on events on the global markets.

“As long as there is no better news on the western markets, we do not expect anything encouraging on the Ljubljana bourse,” Kovacic said.

All 10 blue chips lost value on Tuesday with fuel trader Petrol as the top loser. It plunged 8.02% to an average price of 372.71 euro ($506) on turnover of 334,000 euro.

Petrol was followed by blue-chip logistics company Intereuropa, which tumbled 6.45% to 17.12 euro on some 29,000 euro of turnover.

Heavyweight blue-chip drug maker Krka dropped 2.07% to 71.48 euro in the day’s highest turnover of 3.2 million euro.

LJSE's total turnover fell to 9.52 million euro on Tuesday from 28.65 million euro on Monday when it was lifted by a 25.48 million euro turnover on the bond market.

($ = 0.736 euro)