Yesterday, CROBEX10 reported an increase of 1.9% driven by both heavyweights along with yesterday’s clear winner, AD Plastik.

In yesterday’s trading session, CROBEX10 noted an increase of 1.9% starting 2023 strong, which was driven by both heavyweights and companies with single-digit weight. Podravka, which is the constituent with the highest weighting (c. 21%) noted an increase of 2.1%. Further, HT with c.19% weight in CROBEX10 ended the day slightly in the green. Furthermore other liquid issuances which valuations are looked at from perspective of consumers spending and intensity of tourist season, Adris (pref.), Valamar Riviera and Atlantic Grupa increased by 4.4%, 3.5% and 3.1%, respectively.

Looking at the low single-digit weights, AD Plastik is the clear winner of yesterday’s trading session on ZSE. AD Plastik noted an intraday double-digit growth in share price amounting to as much as 12.3% but ended the day with a 7.5% gain. Furthermore, Atlantska Plovidba also increased by 2.9% along with Arena Hospitality Group with a slight 0.6% share price increase.

Overall, AD Plastik noted the highest increase in share price along all index constituents. The only constituent ending the day in red was Ericsson Nikola Tesla, which observed a 1.7% decrease.

Yesterday’s trading session returns (%)

Source: Bloomberg, InterCapital Research

At the end of 2022, SBITOP declined by 16.9% YoY, ending the year at 1,046.13 points. Also, during December sentiment did not distinguish with SBITOP decreasing by 1.5% on MoM basis.

The total equity turnover on the Ljubljana Stock Exchange amounted to EUR 430.8m in 2022, representing an increase of 13.4% YoY. This would also mean that the average daily turnover in the previous year amounted to EUR 1.7m. Looking at the data for December only, equity turnover contributed with the value of EUR 28.2m worth of equity trading.

In terms of the block trades, total equity turnover amounted to EUR 44.3m with Krka being the highest contributor with block trading amounting to EUR 18.4m (or 41.6% of total block turnover). Petrol follows Krka with EUR 12.7m worth of block trades. Further, NLB and Luka Koper are to follow with a turnover of EUR 6.6m and 6.5m, respectively. Total block equity turnover represents 10.3% of the total equity traded on LJSE in 2022.  During December, three block transactions were made, this being Krka at EUR 3.4m, Luka Koper with EUR 2.9m and Petrol at EUR 306k.

Further, looking at total equity turnover (blocks included) for the whole year, the largest turnover was recorded by Krka, with a turnover of EUR 190m (or 44.1% of total turnover). Krka is followed by NLB and Petrol, which noted a turnover of EUR 81.7m and 52.3m, respectively, which resulted in 19% and 12.1% of total equity traded value during 2022. Overall, the top 5 most traded stocks accounted for 87% of the total turnover during the previous year, while the top 10 most traded stocks accounted for almost all equity turnover with 99% share of total value traded on the stock exchange.

In terms of the indices, Slovenia’s main index, SBITOP, decreased by 16.9 % in 2022 and ended the year at 1,046.13 points. At the same time, SBITOP TR noted a partially lower decline of 10.8%, ending the month at 1,318.70 points. Looking only at data for December, the negative sentiment continued and SBITOP declined by 1.5% MoM.

Looking at the SBITOP constituents’ performance during 2022, we can see that 5 out of 9 companies recorded better performance than SBITOP itself, but only Luka Koper noted a positive share price development in the previous year. The mentioned increase in Luka Koper’s share price amounted to 1.6%. Luka Koper is followed by Unior, Triglav and Cinkarna, which reported a decrease of 4.7%, 6.2% and 11.2%, respectively. At the bottom of the list, the worst performers during 2022 were Krka and Petrol. Krka declined by 22%, while Petrol noted a 21.3% decrease in share price. Sava Re and NLB follow the list with 19.7% and 18.1% decline, respectively.

Performance of SBITOP constituents (2022, YoY, %)

Source: Bloomberg, InterCapital Research