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Sep 26, 2007 18:03 EEST
September 26 (SeeNews) - Slovenian stock indices recovered in calm trading on Wednesday after falling in the previous session, brokers said.
The Ljubljana Stock Exchange's (LJSE) broader 15-share SBI20 index gained 0.15% to 12,031.97 points, while the blue-chip SBITOP index ended 0.26% higher at 2,607.16.
“The market started a bit negatively but recovered after that [...] Nothing special, the positive mood has come back,” Franci Tusek, an analyst with the Medvesek Pusnik brokerage house, told SeeNews.
Tusek expects the indices to extend their gains on Thursday, albeit moderately.
“I do not expect anything special by the end of this week [...] Nothing special happens on our stock exchange, which is expected after the sharp rises this year,” he said.
Slovenian stock indices have added some 80% since the beginning of the year. Traders have attributed the gains to speculation about takeovers of some companies and the expected privatisation of others.
Energy-to-tourism holding firm Istrabenz was the biggest gainer among the blue chips on Wednesday, rising 1.79% to an average price of 141.28 euro ($199.57). Two weeks ago blue-chip fuel trader Petrol unveiled plans to place a takeover bid for Istrabenz within 30 days. “Probably Petrol is buying Istrabenz,” Tusek said.
Petrol added 0.94% to 992.21 euro in the day’s highest turnover of 1.915 million euro. On Monday Istranbenz said that its supervisory board had decided that the company bought up to 24.9% of Petrol. Istrabenz now owns some 14% of Petrol.
Heavyweight blue-chip drug maker Krka gained 1.22% to 113.19 euro.
Another blue chip, household appliance manufacturer Gorenje, rose 0.36% to 49.48 euro. “Probably the price [of Gorenje] will remain at this level,” Tusek said.
Telekom Sloveniej was the biggest loser among the blue chips on Wednesday, falling 2.52% to 455.58 euro. Last month Slovenia's government called a tender for the sale of 49.13% of the majority state-owned company. Interested companies can place non-binding bids by October 15.
Gaining stocks among the blue chips outnumbered losers by six to four on Wednesday. The total turnover on the LJSE rose to 8.33 million euro on Wednesday from 6.99 million euro the previous day.
($ = 0.71 euro)
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