The pan-Baltic capitalization index, BALTIX, declined 0.01 percent over the outgoing week to 491.48 points. Among blue chip stocks, Ventspils Nafta underwent the steepest gain 's up 2.22 percent to 2.62 euro 's on news that the government intended to sell its stake to the public on the Riga Stock Exchange.
The big story, however, was Starman, the cable communication company that was listed on the Tallinn Stock Exchange on June 28. Its total surge amounted to 12 percent for the outgoing week to 58.67 kroons (3.75 euros).
"Investors spent their main steam on Starman. Small investors traded with it through the week, and the share price went into a fall after the first day," SBM Bank capital markets director Marti Veskimagi told the Baltic News Service. "The situation with Starman is not going to improve before bigger investors emerge. Presumably the price of the share will not fall below the IPO price."
Meanwhile, the STV cable television company predicted that a large foreign investor would acquire the stock of both the recently-listed Internet service providers. "Looking at the cable television market as a whole, there has to be a leading company in it like (Eesti Telekom's fixed-line telephone subsidiary) Elion is in its sector, which is engaged in a trial of strength with smaller firms and is the policy-maker in the market," he said.
Shares in Tallinna Vesi (Tallinn Water), the water company, edged up 0.09 percent to 175.87 kroons.
In Lithuania, Mazeikiu Nafta shed 1.85 percent to close the week at 9 litas. The price moved higher at the start of the weekly session, but after Russia asked Lithuania and the Netherlands' justice ministries to ban registration of any transactions with Yukos-controlled shares of the oil refinery, the price moved down.
