Slovenian Stocks Partly Recover in Higher Turnover

The blue-chip SBITOP index of the Ljubljana Stock Exchange (LJSE) gained 1.71% to 1,108.08 and the broader 15-share SBI20 index went up 1.27% to 4,890.67.

The Slovenian indices plunged more than six percent each on Monday, shadowing losses on global markets.

“After four days of red colour there was green colour today,” Darko Kovacic, an analyst at Maribor-based Raiffeisen Banka, told SeeNews.

The LJSE follow trends on global markets, Kovacic said. “It is important how the financial problems and the recession in the world will develop,” he added.

Food retailer Mercator was the top blue-chip gainer on Tuesday, surging 6.23% to an average price of 179.86 euro ($225) on turnover of 533,000 euro. Rubber-to-tourism holding company Sava was the biggest loser among the 10 blue chips, falling 2.93% to 241.52 euro on 155,000 euro of turnover.

Shares in Slovenia's third largest bank by assets, Abanka Vipa, gained 6.31% to 47.31 euro on 34,000 euro of turnover on Tuesday after making their debut on the bourse the previous day.

Shares in heavyweight blue-chip drug maker Krka were traded most on Tuesday as they gained 3.11% to 62.59 euro on 2.52 million euro of turnover.

LJSE's total turnover rose to 8.6 million euro on Tuesday from 7.88 million euro on Monday with the bond market contributing 3.6 million euro to the total turnover. Blue-chip gainers outnumbered losers by seven to three.

($ = 0.8006 euro)