Slovenian Stock Indices Bounce Back

The blue-chip SBITOP index of the Ljubljana Stock Exchange (LJSE) gained 1.91% to 1,245.36 and the broader 15-share SBI20 index went up 1.66% to 5,544.95.

“Today there was a bounceback from yesterday’s levels [...] This week was definitely very turbulent,” Darko Kovacic, an analyst at Maribor-based Raiffeisen Banka, told SeeNews.

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

Kovacic said trends on the Slovenian bourse follow global markets. “When there is a green colour abroad, it is green here, as well. There are no big differences,” he added.

Drug maker Krka was the top blue-chip gainer on Friday, rising 3.84% to an average price of 70.39 euro ($95) in the day’s highest turnover of 1.1 million euro. Krka’s CEO Joze Colaric said in an interview with SeeNews that the company sticks to its earnings targets this year despite the global financial woes.

Blue-chip fuel trader Petrol followed Krka on Friday, rising 3.39% to 390.51 euro on 138,000 euro of turnover. The country’s second largest bank by assets, Nova Kreditna Banka Maribor (NKBM), was the top blue-chip decliner, falling 2.3% to 16.60 euro on turnover of 128,000 euro.

On Friday the country’s third largest bank by assets, Abanka Vipa, said it has filed a request with the LJSE to list its shares on the bourse.

LJSE's total turnover fell to 2.92 million euro on Friday from 11.53 million euro on Thursday when 7.34 million euro of turnover was generated on the bond market.

($ = 0.7431 euro)