Slovenian Stock Indices Power Back, Sharp Price Fluctuations Forecast

The blue-chip SBITOP index of the Ljubljana Stock Exchange (LJSE) surged 5.84% to 1,206.06 and the broader 15-share SBI20 index gained 5.57% to 5,401.31 on Monday. The indices plunged almost seven percent each on Friday amid global market woes.

Slovenian investors keep an eye on global markets and react accordingly on the bourse in Ljubljana, the head of the brokerage department of local Abanka Vipa, Tomislav Apollonio, told SeeNews.

European and Asian markets rallied on Monday, and the U.S. market opened sharply up as governments in those countries have agreed over measures to support their banking systems. Global stocks, including those in southeastern Europe, lost serious ground last week prompted by concerns over the spread of the global financial crisis.

Apollonio expects steep fluctuations in share prices in the days ahead. “The market will be very volatile in the next few days,” he added.

All 10 blue chips gained ground on Monday with brewer Pivovarna Lasko as the top gainer. It surged 8.46% to an average price of 54.97 euro ($75) on turnover of some 108,000 euro.

The brewer was followed by blue-chip food retailer Mercator, which gained 7.32% to 179.54 euro on 44,000 euro of turnover.

Shares in heavyweight blue-chip drug maker Krka were the most traded on Monday. They were up 5.23% to 66.81 euro on 3.13 million euro of turnover.

LJSE's total turnover fell to 5.98 million euro on Monday from 7.48 million euro on Friday.

($ = 0.7342 euro)