The blue-chip SBITOP index of the Ljubljana Stock Exchange (LJSE) edged up 0.59% to 1,151.56 and the broader 15-share SBI20 index rose 0.45% to 5,068.92. The Slovenian indices have registered moderate gains in the last few days, following an upward trend on foreign markets.
“The [Slovenian] bourse bounced back a bit later than the foreign markets,” Andraz Vrh, an assets manager at local brokerage Ilirika, told SeeNews.
He said the local market will continue to track the European bourses in the following days.
Market analysts have said information about the impact of the financial crisis on the global economy will set the tone for the future movements of the capital markets. The outcome from the U.S. presidential vote on Tuesday will also give the markets direction in the short-term.
Earlier on Tuesday blue-chip brewer Pivovarna Lasko said it together with its biggest shareholder Infond Holding plan to sell their joint stake of nearly 48% in the country’s biggest food retailer Mercator in a tender by the end of March.
Shares of blue chip Mercator added 0.28% to an average price of 190.88 euro ($243) on Tuesday and blue chip Pivovarna Lasko rose 1.06% to 53.16 euro. The statement was released after the end of the trading session.
Market analysts said the companies were unlikely to get a good price for their stakes in light of the current situation on the market. “It is difficult to get a good price in these times,” Vrh said. He added companies need to find new sources of financing and sell assets in order to overcome the crisis.
Rubber-to-tourism holding company Sava was the top blue-chip gainer on Tuesday as it rose 2.26% to 254.68 euro on turnover of some 47,000 euro. Sava was followed by the country’s largest insurer, Zavarovalnica Triglav, which rose 2.11% to an average price of 24.65 euro on turnover of some 190,000 euro.
Fuel trader Petrol was the biggest loser among the 10 blue chips, falling 0.8% to 358.05 euro on some 107,000 euro of turnover.
Blue-chip gainers outnumbered losers on Tuesday by seven to three. LJSE's total turnover more than doubled to 4.66 million euro on Tuesday from 2.04 million euro on Monday, with the bond market contributing 1.53 million euro to the total turnover.
