Slovenian Stock Indices Rise Slightly in Weak Turnover

After falling more than one percent the previous day, the blue-chip SBITOP index of the Ljubljana Stock Exchange (LJSE) rose 0.88% to 928.15 points and the broader 15-share SBI20 index was up 0.37% to 4,023.81.

Similar to the moderate gains on European markets on Wednesday, trading on LJSE was only slightly positive, local brokerage house Ilirika said in a daily note.

Blue-chip drug maker Krka was the top blue-chip gainer, rising 2.02% to an average price of 54.10 euro ($70) on the day’s highest turnover of 1.04 million euro.

The country’s largest insurer, Zavarovalnica Triglav, was the top decliner among the 10 blue chips, falling 1.51% to 15.01 euro.

In terms of margin of decline it was followed by blue-chip household appliance manufacturer Gorenje, which moved 1.32% lower to 11.99 euro.

The stock sank 5.74% on Tuesday after the company said market conditions are deteriorating sharply.

The news dragged Gorenje’s share price further down on Wednesday, Darko Kovacic, an analyst at Maribor-based Raiffeisen Banka, told SeeNews.

Exactly half of the blue chips lost ground on Wednesday.

LJSE's total turnover rose slightly to 2.996 million euro on Wednesday from 2.93 million euro on Tuesday, with the bond market contributing 994,000 euro to the total turnover. Weak turnover has been dominating the market in the last few trading sessions.

($ = 0.7751 euro)