Business News

SBI TOP Gains 0.8% in Week of Modest Trading

Ljubljana, 01 September (STA) - The SBI TOP benchmark index gained 0.8% to 505.28 points this week on a modest turnover of EUR 5m. The biggest gainers of the week were NKBM bank and telco Telekom Slovenije, which gained 6.78% to EUR 1.23 and 3.37% to EUR 60.50, respectively.

While the summer holidays and the accompanying lull are coming to a close, "we could expect more vigorous trading on the Ljubljana stock market, but we have not seen it yet," Alenka Eržen of the brokerage GBD told the STA.

Pharma company Krka, which added 1.30% to EUR 42.70, was the busiest item with almost EUR 1.82m in turnover, followed by Telekom (EUR 541,000) and retailer Mercator (EUR 264,000). Slovenia's biggest retailer lost 0.88% to EUR 112.60.

Energy company Petrol edged up 0.09% to EUR 172.15, while insurer Zavarovalnica Triglav remained flat at EUR 11.60.

Apart from Mercator, household appliance maker Gorenje also closed the week in the red, losing 1.48% to EUR 4.05.

Outside the blue chip index, logistics company Intereuropa gained 14.29% to EUR 0.48 and port operator Luka Koper added 2.76% to EUR 6.70, while reinsurer Sava Re remained level at EUR 5.25.

The not-so-successful half-year results of companies listed on the stock market are "also reflected in the value of shares", Eržen noted, adding that SBI TOP had lost almost three percent since the beginning of July when reports had started coming in.

She also said that an increase in turnover and share values could be encouraged by takeover activities, as some big companies, like Mercator and coatings producer Helios, are entering sales procedures.

"However, we can only guess whether the sales will actually go through," she added.

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