Business News

SBI TOP Gains Almost 10% During Week

Ljubljana, 29 September (STA) - Fast growth was restored on the Ljubljana Stock Exchange this week with five days of trading in the black. Almost across-the-board gains for the blue chips lifted the SBI TOP index 9.69% higher to 591.22 points. Total turnover was just shy of EUR 9m.

Telekom Slovenije was the biggest winner, soaring 16.81% to EUR 76.51, insurer Zavarovalnica Triglav jumped 16.05% higher to EUR 14.39 and energy trader Petrol closed 13.68% higher at EUR 216.

Triglav surged 6.59% to EUR 14.39 on the back of announced plans for a takeover bid for furniture trader Slovenijales, while Petrol announced this week it would reduce natural gas prices by up to 15% on 1 October.

Also up substantially was household appliance maker Gorenje (9.24% to EUR 4.59), the NKBM bank recovered with a 8.60% gain to EUR 1.2, while drug maker Krka was up 7.10% to EUR 49.8.

The only blue chip to close lower this week was retailer Mercator, which lost 0.13% to EUR 111.90.

Marko Pavlović from brokerage GBD argued for the STA that the growth could be spurred by "rumours about the sale of state assets" or possibly newspaper articles on "unofficial potential sales prices of individual companies".

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