Baltic bourses attractive for Western investors

  • 1999-10-21
Compared with the recent sharp drops in share prices in New York and London, the performance of the Baltic securities markets looks relatively good. The low correlation of the share price movement between the world and Baltic bourses provides strong incentive that for a well-diversified investment portfolio, Western investors should be placing some of their funds in these markets.

Only the Litin-10 index in Lithuania posted a correction of 3.54 percent, last week, mostly due to the 12 percent drop in Mazeikiai Oil's share price, which was attributed to yet another stoppage in its unreliable crude oil supply from Russia. Bank shares continued their rise in Lithuania in active trading.

The Tallinn Stock Exchange's TALSE index climbed 0.27 percent thanks to a 7.12 percent gain in Norma's share price. The Latvian indexes DJRSE and RICI were up by an average of 1.7 percent, but trading volume dropped as compared with previous weeks.