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Sep 14, 2007 17:00 EEST
September 14 (SeeNews) - Slovenian stock indices fell further on Friday with most blue chips losing value in increased turnover, brokers said.
The Ljubljana Stock Exchange’s (LJSE) broader 15-share SBI20 index fell 0.5% to 11,869.04 points, while the blue-chip SBITOP index ended 0.38% lower at 2,579.96.
“Indices ended a bit lower today. In the last days there has been selling pressure at almost all important shares, excluding maybe only Aerodrom Ljubljana” Andraz Vrh, asset manager with Ilirika brokerage house, told SeeNews.
The company operating the international airport of Ljubljana, Aerodrom Ljubljana, part of the SBI20 index, lost 2.07% an average price of 133.76 euro on Friday after hefty gains in the previous few sessions.
“We were in some way surprised today by the fact that Petrol announced plans to place takeover bid for Istrabenz,” Vrh said. Slovenian fuel trader Petrol said on Friday that it plans to place a takeover bid for energy-to-tourism holding firm Istrabenz within 30 days.
“Investors were waiting for Istrabenz to place a buyout bid for Petrol,” Vrh added. Istrabenz owned 10.28 % of Petrol at the end of July.
The Ljubljana Stock Exchange (LJSE) halted trading in shares of blue chips Petrol and Istrabenz temporarily from 0844 GMT on Friday. By that time, Petrol lost 1.53% to 967. 27 euro and Istrabenz ended 0.27% lower to 127.11 euro.
Vrh finds it difficult to forecast the further development of the story with Petrol’s bid but said the bid will make trading on the LJSE livelier. “An interesting autumn is coming,” he added.
Heavyweight blue-chip drug maker Krka gained 0.42% to 116.48 euro on Friday in the day’s highest turnover of 2.26 million euro.
Losing stocks among the blue chips outnumbered gainers by seven to three. Total turnover on the LJSE rose to 8.83 million euro ($12.3 million) on Friday from 6.81 million euro the previous day.
($ = 0.72 euro)
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