In June 2024, the total turnover on the LJSE decreased by as much as 17.6% MoM but also recorded a decent 52.8% increase YoY. Meanwhile, the SBITOP recorded a 5.2% increase in MoM, ending at 1,577.93 points. In this overview, we bring you a general overview of the trading and share performance of the LJSE during June.

Recently, LJSE released its latest monthly trading activity report for June 2024. According to the report, the total equity turnover on the LJSE amounted to EUR 35.4m, representing a 17.6% decrease MoM, but a significant 52.8% increase YoY. The average daily turnover in June was EUR 1.8m. The SBITOP index recorded a solid increase of 5.2%, reaching 1,577.93 points. Additionally, the SBITOP TR index ended the month at 2,175.64 points, a 7.2% increase from the previous month.

Monthly equity turnover on LJSE (January 2022 – June 2024, EURm)

Source: LJSE, InterCapital Research

In terms of the most traded stocks, Krka led the way with a turnover of EUR 14.1m, accounting for 39.8% of the total equity turnover. NLB followed with a turnover of EUR 10.1m, representing 28.6% of the total. The rest of the top five traded stocks had significantly lower turnovers: Petrol with EUR 2.8m (8.1%), Zavarovalnica Triglav with EUR 2.6m (7.4%), and Sava Re with EUR 2.1m. Combined, the top five stocks accounted for 90% of the total turnover, while the top ten accounted for as much as 99.8%.

Regarding the performance of the SBITOP constituents in June, seven out of nine companies recorded an increase. Zavarovalnica Triglav remained flat, while Sava Re was the only company to record a negative return, with a decline of 1.2%. The biggest gain was recorded by Luka Koper, with a 9.3% increase, followed by NLB’s 8.1% growth. Krka also positioned itself among the top three gainers with a 6.2% MoM increase.

Performance of SBITOP constituents (June 2024, MoM, %)

Source: Bloomberg, InterCapital Research

Turning our attention to the YTD performance, the best performer by far has been NLB, which on the basis of good results, the new 2030 strategy, and the ongoing takeover bid for Addiko has grown by 51%. Following them there is Krka, which also recorded solid business results, which was also favored by the stability of the rouble as Krka has a significant share of operations in the country, resulting in a 29% return. Next up is Petrol with a 27% gain, which came more due to the normalization of operations after 2022 and 2023’s strong restrictions on margins. Telekom Slovenije, Luka Koper, and Sava Re also recorded noteworthy double-digit growth, at 21% for the former two, and 18% for Sava Re, on the back of improved business operations in their respective industries, as well as solid dividends. Overall, all companies in the index recorded positive returns, leading to an overall 28% increase in the SBITOP since the start of the year.

Performance of SBITOP constituents (2024 YTD, %)

Source: Bloomberg, InterCapital Research