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Ljubljana Stock Exchange Monthly Statistical Report January 2001

Date 26/02/2001

Turnover

In January 2001 the total turnover on all market segments of the Ljubljana Stock Exchange amounted to SIT 33.27 billion, which was 37% lower than in December 2000 and 60% over the January 2000 figure.

In January 2001 the biggest share of the total turnover was that of shares with 57.55%, followed by shares of investment funds with 30.60% and bonds with 11.17%. Turnover of ordinary shares and shares of investment funds recorded a 4 % increase compared to the previous month, while the turnover of bonds dropped by a good 5%. In January trading in short-term securities did not occur. The turnover of pension coupons was SIT 229 million or 0.69% of the total turnover. The share of the official market in total turnover in January was 59.70%. The turnover of shares on the official market made up 92.27% of the total turnover of shares, which was the highest figure in the last two years.

The average number of transactions per day in January was 1,281 or 26,891 transactions in 21 trading days. That was below the 2000 daily average of transactions, which was 1,586. In January 49.56% of all trades were concluded with shares of investment funds. The average number of transactions with shares of investment funds was 635 per day, for company shares the figures were 544 or 42.45%. The average daily turnover in January was SIT 1.58 billion, which was above the year 2000 average of SIT 1.08 billion. The average value of a single transaction in January was SIT 1.2 million. That was above the year 2000 average of SIT 680 thousand. The number of shares of companies traded was 2,726,262 and t e number of shares of investment funds traded was 174,179,939.

Block trading

129 block trades were concluded with a total value of SIT 20.06 billion, which represented 60.29% of the total monthly turnover. That was above the year 2000 average of 57.7% and above the 1999 average of 49.1%. The average block trade in January amounted to SIT 155 million.

Indices

The Slovenian Stock Exchange Index - SBI 20

At the end of January 2001 the index SBI 20 amounted to 1,875.35 points, an increase of 3.73% compared with 1,807.94 points at end of December 2000. In January 2001 the leading Exchange index recorded two considerable shifts in trend. Its three-month upward trend continued until 9 January and exceeded the value of 1,900 points, for the first time after January 2000. On 9 January it peaked at 1,903.03 points. In the following ten days its value plunged to its lowest level of 1,808.62 points (18 January). Then the index again moved upwards. Its highest daily growth of 2.17% occurred on 8 January and its lowest drop of 1.42% on 10 January.

The Non-weighed Slovenian Stock Exchange Index - SBI 20NT

The performance of the Non-weighed Slovenian Stock Exchange Index - SBI 20NT was similar in movement to the weighed index SBI 20 since the beginning of its calculation on 1 July 2000. In January the value of the index SBI 20NT increased by 3.37% from 1,769.15 to 1,828.76 points. The average daily change of the index was slightly lower compared to the weighed index, it reached from 0.02% to 2.09 %.

The Free Market Index - IPT

Among all the Exchange indices the value of the index IPT recorded the sharpest drop in January. At the end of January 2001 the value of IPT was 1,521.54 points, a 6.51% decrease compared to 1,627.44 points at the end of December. The index recorded its highest daily drop on 5 January, when it fell by 6.03% to 1,503.05, mainly on account of the decline in value of the share of the company Fructal. In the following days the index recorded a slight growth , however its daily values did not change much.

Index of Authorised Investment Funds - PIX

In January the index PIX recorded a considerable change in its trend twice, hence its monthly growth was not significant. It decreased by 0.65%from 1.520.79 points to 1,510.93 points. Its trend was similar to t at of t e index SBI 20 throughout the month. Until 9 January PIX continued to grow to reach 1,558.97 points, its maximum value of the month. In the following eight days its value plummeted to its lowest level of the month 1,481.25 points (17 January). In the following days the index recorded positive, but slight daily changes in value.

The Stock Exchange Bond Index - BIO

At the end of January 2001 the value of the Bond Index BIO was 109.48 points, an increase of 0.41% compared with its value of 109.03 at the end of December. The index recorded the smallest changes in value among the Exchange's indices. Thus in January its highest daily change was 0.72%.

Industrial Sector Indices

Four out of six industrial sector indices increased in January (Pharmaceuticals, Chemicals, Oil and gas and Transport), the highest increase was recorded by the index Pharmaceuticals - 6.72%. The value of both shares included in the index (Krka and Lek) grew in this month. Considerable growth in value was recorded also by the index Oil and gas - 4.60%, while the remaining two indices recorded a slower upward trend. The value of the indices Food and beverages and Trade dropped, the former by 4.23% and the latter by 1.51%.

Price movements of selected shares

In January 2001 prices of twenty-four shares on the official market increased, four of them by more than 10%. The highest price growth rate in January was recorded by shares of SKB banka (25.38%) although their trading was suspended from 11 to 24 January for protection of investors' interests. A more that 10% increase in price was recorded by ordinary shares of the companies Kompas MTS, Banka Koper and Radenska. The prices of thirteen shares decreased in January, the highest decline was recorded by Kovinotena - 17.69%, Zivila Kranj, GPG and Koloniale each by more than 10%. Other shares with negative monthly return recorded a less than 6% fall in price in January.

In one year 's time the value of eleven listed shares increased - among them SKB banka with the highest rise of 53.17%, and ordinary and preferred shares of the company Lek - by a good 36% growth. The value of nineteen shares fell - shares of Radenska, Kovinotena (ordinary and preferred ), Nika, and Tehnounion were the most affected. The price of these five shares fell in one year 's time from between 41.2% and 32.6%.

Foreign investments

In January a net outflow of all foreign investments (direct and portfolio investments in shares and bonds, except primary issues) was recorded and amounted to SIT 347.5 million. Net outflow generated on the organised and off-the-organised market was last recorded in March 2000. In January Exchange transactions recorded a net outflow after a net inflow for four month running. It amounted to SIT 14.8 million.

Foreign investors accounted for 1.0% of the turnover of securities on the Exchange market in January. The share of foreign ownership in the market capitalisation of shares on the Exchange was 7.77% at the end of December. Foreign ownership reached its highest level in May 1998 - 12.23%.

Capitalisation

On 31 January 2001 the total market capitalisation of securities, traded on the Exchange (including shares of investment companies - SIT 150.62 billion) amounted to SIT 1,136.93 billion, which was SIT 1.5 billion or 0.1 % less than the month before. Market capitalisation of listed shares grew by SIT 25.2 billion, while capitalisation of other market segments decreased. Market capitalisation of investment funds recorded the strongest drop, by SIT 21.0 billion. Market capitalisation of shares on the free market decreased by SIT 3.2 billion. The market capitalisation of shares listed on the official market of the Exchange increased from SIT 484.59 billion to SIT 604.66 billion or by 10.85% in one year 's time. The capitalisation of shares on the free market decreased in the same period by 13.26%. On 31 January 2001, the market capitalisation of all shares traded on the Exchange (SIT 727.11 billion) made up 19.99% of GDP in the year 1999 - SIT 3,637 billion at current prices.(Source: Statistical Office of the Republic of Slovenia).