December 6 (SeeNews) - Slovenian stock indices rose for a fourth day running on Thursday with heavyweigh blue-chip drug maker Krka extending its gains by adding 2.58%, brokers said.
The broader 15-share SBI20 index of the Ljubljana Stock Exchange (LJSE) gained 0.54% to close at 11,314.89 points. The blue-chip SBITOP index rose 0.85% to 2,509.27.
Krka was the biggest gainer among the blue chips, rising 2.58% to an average price of 122.38 euro, local brokerage house Ilirika said in a daily note. The company gained 2.65% on Tuesday and 1.57% on Wednesday after Austria’s Erste Bank raised its target price for the company, brokers have said. On Monday Erste Bank said it had upgraded its "accumulate" stock recommendation on Krka to “buy” and raised its target price to 139.50 euro per share from 130.
Telekom Slovenije was the biggest loser among the blue chips on Thursday, falling 1.12% to 397.40 euro.
Brokers have said investors are awaiting the listing of the country’s second largest bank by assets, Nova Kreditna Banka Maribor (NKBM). On Wednesday NKBM said it expects trading in its shares to start on December 10. The Slovenian government said on Tuesday it had set the final price of the initial public offering (IPO) of NKBM, at 27 euro per share, at the very top of the indicated price range.
NKBM's IPO will be the first one on the LJSE in eight years. It is expected to attract investors hungry for new listings and stimulate the stagnating bourse, analysts said.
Total turnover on the LJSE fell to 8.83 million euro ($12.9 million) on Thursday from 13.2 million euro on Wednesday.
($ = 0.6863 euro)