Business News

SBI TOP Down in Another Week of Meagre Trading

Ljubljana, 07 July (STA) - The Ljubljana Stock Market saw another week of meagre trading as brokers wrapped up only EUR 3.1m in deals. The SBI TOP benchmark index lost 0.48% to 521.42 points, with the winner of the week, energy company Petrol, gaining 2.99% to EUR 172.

"The Slovenian capital market is suffering from a chronic lack of liquidity and uninterested investors," Marko Pavlović of the brokerage GBD told the STA. He added that major signs of optimism cannot be expected before the end of the year.

Pavlović however noted that many Slovenian companies, such as retailer Mercator, will probably have to be sold slowly.

Apart from Petrol, insurer Zavarovalnica Triglav was the only blue chip to end the week in the black, adding 1.69% to EUR 12.05.

The losing side was headed by bank NKBM, which dived 11.06% to EUR 1.77 before it announced it would start selling off non-strategic assets.

Household appliance producer Gorenje lost 5% to EUR 4.75 in the week its shareholders decided to pay out EUR 0.15 gross dividends.

Telco Telekom Slovenije lost 3.97% to EUR 60.50 and Mercator was down 0.33% to EUR 122.

Pharma company Krka, whose shareholders announced EUR 1.50 dividends this week, accounted for nearly one third of this week's turnover. Krka's shares slid 0.25% to EUR 42.49.

Outside the blue chip index, port operator Luka Koper gained 1.26% to EUR 8.05, while reinsurer Sava Re dropped 6.90% to EUR 5.11 and logistic company Intereuropa shed 1.96% to EUR 0.45.

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