Business News

Stocks Down This Week Despite of Mixed Earnings

Ljubljana, 27 October (STA) - Slovenian stocks lost ground this week as the start of third-quarter earnings reports provided a mixed bag of results. The SBI TOP benchmark lost 1.61% to 588.55 points.

NKBM bank was hit the hardest, losing over 10% to EUR 1.25 after reporting a January-September net loss in excess of EUR 100m on continued write-downs.

On the other hand, energy company Petrol added 1.68% to EUR 211.5 on the back of 18% year-on-year revenue growth for the first nine months and a 16% increase in net profit, to EUR 41.9m.

Drug maker Krka lost 1.17% to EUR 47.98, with the company taking advantage of the low price to increase treasury purchases.

Home appliances maker Gorenje shed 4.31% to EUR 4.35 and Telekom Slovenije was down 3.39% to EUR 76.61.

Retailer Mercator lost 3.32% to EUR 115, but it may recover somewhat next week after a 1.6% stake was sold at EUR 115 per share on Friday by Abanka.

Insurer Zavarovalnica Triglav lost 2.03% to EUR 15.48.

Turnover exceeded EUR 13.24m, but this includes two deals in Mercator stock on Friday worth EUR 7.2m.

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