Business News

Stock Market Index Hits New All Time Low

Ljubljana, 14 July (STA) - The SBI TOP index of blue chips on the Ljubljana Stock Exchange closed the week at a new all-time low of 515.01 points, down 1.23% on the week before. Weekly turnover amounted to EUR 5.6m.

The most liquid item, the share of pharma company Krka fell 2.58% on the week to close at EUR 41.40 on EUR 2.1m in trading volume. Krka shareholders (as of Wednesday) will get a divided of EUR 1.50 per share within 60 days.

Retailer Mercator clocked up EUR 1.7m in deals, shedding 0.41% to EUR 121.50. The remaining shares saw modest turnover.

The biggest percentage loser among blue chips was the share of Slovenia's second largest bank, NKBM, which plummeted 9.60% to EUR 1.60.

The supervisory board of NKBM, meeting for the last session before the new line-up takes over, endorsed a revised business and financial plan which projects a net loss of EUR 70m for the year instead of a minor profit originally planned.

Insurer Zavarovalnica Triglav shed 2.90% to EUR 11.70 and Telekom Slovenije was down 0.41% to EUR 60.25.

The telco's supervisory board appointed Rudolf Skobe new chairman on Wednesday. He will take over on 1 September when the incumbent boss Ivica Kranjčević is set to retire.

The only SBI TOP chips to gain ground this week were those of the household appliances maker Gorenje and fuel retailer Petrol. The items added 2.32% to EUR 4.86 and 0.73% to EUR 173.25, respectively.

Among the other prime market shares, logistics company Intereuropa plummeted 22.22% to EUR 0.35, port operator Luka Koper lost 6.81% to EUR 7.50 and reinsurer Sava Re was down 1.98% to EUR 5.

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