Slovenian Stock Indices Rebound in Higher Turnover

The blue-chip SBITOP index of the Ljubljana Stock Exchange (LJSE) rose 1.86% to 907.85 points and the broader 15-share SBI20 index added 1.66% to 3,892.23 points on Thursday.

“After yesterday’s bounceback on the U.S. equity market, the LJSE also closed mostly in the green today,” local brokerage Ilirika said in a daily note.

The country’s largest insurer, Zavarovalnica Triglva, was the top blue-chip gainer on Thursday, rising 3.35% to an average price of 17.58 euro. Fuel trader Petrol was the biggest blue-chip loser, falling 1.33% to 276.23 euro ($358).

Shares in blue-chip drug maker Krka were most traded, gaining 2.33% to 53.21 euro on turnover of some 1.25 million euro.

After the end of trading Krka said that it expects its 2008 group net profit to be in line with its plan of 160 million euro as sales rose 22% to 950 million euro. The company said it will release its unaudited 2008 financial results at the end of February.

Total turnover on the LJSE rose to 2.89 million euro from 1.32 million euro on Wednesday.

The Slovenian share indices lost some two-thirds of their value last year amidst global market woes.

Market analysts have said the Slovenian stock exchage is likely to be the first to recover among the markets in southeastern Europe because it is dominated by local investors and foreign investors, who fled the region last year, have a limited role on it.

($ = 0.7725 euro)