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Profit Taking Depresses Indices

Ljubljana, 22 December - Stock market indices on the Ljubljana Stock Exchange fell on Friday as investors began cashing in on the recent gains by the blue chips. Mixed trading dragged the SBI 20 benchmark index down 26.94 points to 6,405.15, while the SBI TOP index of the six biggest blue chips shed 3.16 points to 1,484.51.

Drug maker Krka was not as stellar as some of the smaller blue chips this week, but it climbed steadily throughout the week and added 0.6% today to close at SIT 188,733 (EUR 787.57), less than 1% below its all-time high.

Technical goods chain Merkur plummeted 4.6% to SIT 50,305 (EUR 209.92) as investors cashed in on heavy gains made in the first four days of trading.

Another stellar performer of late, food company Droga Kolinska, suffered a similar fate and shed 4% to SIT 4,682 (EUR 19.54).

Other big names on the losing side included energy company Petrol (-0.76% to SIT 119,391/EUR 498.21) and retailer Mercator, which was down 2.07% to SIT 51,440 (EUR 214.66).

In yet another twist in the takeover of food company Mlinotest, asset management firm Vipa today acquired 16.5% of Mlinotest at a price of SIT 709.8m (EUR 2.9m).

Combined with the stakes of its subsidiaries, Vipa in effect increased its stake to over 50% and said it would publish a takeover bid next week.

The free market saw very little action but major investment funds nevertheless posted solid gains to take the PIX investment fund index 31.38 points higher to 5,099.52.

The bond BIO index shed 0.93 points to 119.31.

Volumes topped SIT 884m (EUR 3.7m), with an additional SIT 1.1bn (EUR 4.7m) coming in block trade.

Benchmark Index, SBI 20               6,405.15          -26.94            -0.42%
Slovenian Blue Chip Index, SBI TOP    1,484.51           -3.16            -0.21%
Investment Fund Index, PIX            5,099.52          +31.38            +0.62%
Bond Index, BIO                         119.31           -0.93            -0.77%
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© STA, 2006