Business News

Mercator Dominates Shortened Week on Stock Market

Ljubljana, 03 November (STA) - Retailer Mercator dominated the trading on the Ljubljana Stock Exchange in the week, shortened by bank holidays to only three days. The share accounted for EUR 4.7m of the EUR 7.6m in total volumes. The SBI TOP blue-chip index shed 0.33% from last Friday and finished the week at 586.63 points.

According to Marko Pavlović of the GBD brokerage, Abanka managed to offload its entire 2.75% share in the retailer (down 2.17% to EUR 112.50 this week) and the buyer of the entire package was probably the Croatian Hypo bank.

Abanka put 103,400 Mercator shares on sale in mid-October after leaving a consortium of sellers who own a majority stake in the retailer.

Pavlović noted that the inflow of foreign capital in Slovenia increased in the past few days, especially on the account of the sale of Slovenian companies.

The referendum initiative filed by the opposition late on Tuesday regarding the laws establishing the Slovenia Sovereign Holding and a bad bank have not affected the stock market, which is already characterised by low liquidity, the broker said, adding that the rest of the year may still be very lively.

In the three days of trading, the NKBM bank lost 1.28% to EUR 1.23, insurer Zavarovalnica Triglav was down 0.84% to EUR 15.35, drug maker Krka slid down 0.79% to EUR 47.60 and telco Telekom Slovenije shed 0.34% to EUR 76.35.

On the winning side, energy company Petrol added 1.65% to EUR 215 and household appliance maker Gorenje was up 1.06% to EUR 4.40.

Among other shares outside the blue-chip index, shipping company Intereuropa surged 30% to EUR 0.65, reinsurer Sava Re edged up 0.29% to EUR 7 and port operator Luka Koper was down 1.82% to EUR 7.56.

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