At the end of February 2023, SBITOP grew by 5.6% MoM, ending it at 1,191.90 points.
The total equity turnover on the Ljubljana Stock Exchange amounted to EUR 23.1m, representing a decrease of 55.4% YoY, and a slight 2% MoM increase. This would also mean that the average daily turnover in February amounted to EUR 1.1m.
In terms of the block trades, four block transactions were made during the month, this being Sava Re at EUR 3.4m, Triglav at EUR 673k, NLB at EUR 347k and Krka at EUR 318.5k. Excluding these transactions, total equity turnover amounted to EUR 18.4m. Including blocks, the largest turnover was recorded by Krka, with a turnover of EUR 7.8m (or 33.9% of the total equity turnover), followed by NLB, at EUR 4.7m (or 20.2% of the total), Sava Re at EUR 4.4m due to a mentioned block trade (or 19% of the total), Triglav at EUR 2.4m (or 10.3% of the total) and Petrol at EUR 1.3m (or 5.4% of the total). In fact, this would mean that the top 5 most traded stocks accounted for 88.8% of the total turnover, while the top 10 would account for 99.6%.
In terms of the indices, Slovenia’s main index, SBITOP, increased by as much as 5.6% and ended the month at 1,191.90 points. At the same time, SBITOP TR grew by 5.6%, ending the month at 1,506.90 points.
Taking a look at the SBITOP constituents’ performance during the month, we can see that 9 out of 10 companies recorded growth during February. Two companies recorded a double-digit growth with the largest increase recorded by NLB, with a growth of 13.5%. NLB was followed by Triglav with an 11.4% share price increase with both of those companies driving SBITOP’s growth. Further, the third financial company within SBITOP also noted a positive share price development with a 5.9% increase during the month. Finally, Cinkarna, Telekom Slovenije and Unior also recorded solid performance with 9.3%, 7.7% and 7.1% increases during February, respectively. On the flip side, the only decrease was recorded by Equinox, which declined by 5.5%.
Performance of SBITOP constituents (February 2023, MoM, %)
Source: Bloomberg, InterCapital Research
Overall, the Slovenian equity market noted a strong start since the beginning of the year. On a YTD basis, SBITOP as an index noted an exceptional double-digit growth of 13.9%. This growth was mainly driven by an increase in share price by the two biggest heavyweights – Krka and NLB with 14.1% and 18.9% share price increases, respectively. Further, SBITOP’S performance was further amplified by the remaining two financials: Tiglav and Sava Re which noted a strong performance with 13.3% and 12.9% increases, respectively. Further, Cinkarna noted the biggest increase in 2023 so far, amounting to 22.6%. Almost every SBITOP constituent noted a positive development on LJSE.
YTD Performance of SBITOP constituents (YTD, %)
Source: Bloomberg, InterCapital Research
