SBI Top Falls 7.28% on COVID-19 Fears

By , 09 Mar 2020, 17:21 PM Business
SBI Top Falls 7.28% on COVID-19 Fears Wikimedia - Gregory Slobirdr Smith CC-by-SA-2.0

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STA, 9 March 2020 - The benchmark index on the Ljubljana Stock Exchange suffered the sharpest decline since the early stages of the financial crisis on Monday, moving in lockstep with global markets spooked by the potential impact of the global spread of coronavirus on economies around the world.

The SBI Top lost 7.28% to 817.92 points, the third sharpest decline since its introduction in 2006 and the biggest daily loss since October 2008, as the sell-off affected all blue chips regardless of industry.

Drug maker Krka and insurer Zavarovalnica Triglav were the hardest hit, the former losing 9.2% to EUR 63 and the latter down 9.4% to EUR 29. Another insurer, Sava, was down 7.3% to EUR 17.80.

Telekom Slovenije and port operator Luka Koper also lost in excess of 7%.

The only major issue to lose less than 5% was energy group Petrol, which was down 3.7% to EUR 340.

Turnover approached EUR 6 million, several times the normal daily volume.

With the market now being cheaper, perhaps you’d like to learn more about the SBI Top and the companies it includes – you can do that here

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