During the week the index lost 1.03 percent closing at 104.73 points as Eesti Telekom plummeted down over 8 percent to 6.4 euros and Lietuvos Telekomas lost over 4 percent to 0.59 euros.
Last week losers outpaced gainers 10 to five on the Baltic List of blue chips traded on Riga, Vilnius and Tallinn bourses.
The loss by Eesti Telekom pulled down the Estonian composite index by 1.83 percent to 99.29 points.
The TALSE index fell even more losing 4.37 percent to 133.3 points.
The composite index of Lithuanian stocks of the Baltic List dropped 0.8 percent closing the week at 102.73 points, dangerously close to the 100 point benchmark.
The index's fall was rather modest though as only Lietuvos Telekomas posted losses over the week while the other four Lithuanian stocks of the Baltic List stayed almost unchanged.
The official list index LITIN, which fully depends on Lietuvos Telekomas, fell 3.08 percent to 411.25 points.
The composite Latvian index of the Baltic List stocks dropped just 0.09 percent to 116.73 points as losses posted by Latvian Unibanka and Ventspils Nafta were balanced by gains of Latvijas Gaze and Balta,.with capitalization index DJRSE closing the week 0.49 percent higher at 103.24 points and the price index RICI surging by 1.22 percent to 156.4 points.
On the Tallinn Stock Exchange transactions with Reval Hotelligrupp shares and Eesti Telekom bonds saw active trading, therefore the Baltic List stocks accounted for just 50 percent of Estonian bourse'turnover. In Latvia the respective indicator was 93.5 percent and in Lithuania nearly 60 percent of the Vilnius bourse's turnover.
The falls by telecommunications companies listed on the Baltic List pulled down the list's capitalization by 3.8 percent to 2.81 billion euros.
Capitalization of the Baltic List's Estonian stocks on August 18 was 1.72 billion euros, down 5 percent from a week ago, Latvian stocks - 414 million euros, unchanged from the previous week, while for Lithuanian stocks the indicator was 672 million euros, down 3.2 percent.
Estonia: Slack, no-news week ends on Tallinn Stock Exchange
The outgoing week was quiet on the Tallinn Stock Exchange, with passive trading dominated by lack of news and a slightly negative undertone.
The TALSE stock index fell 4.37 percent over the week, pushed down by Eesti Telekom.
The price index of Estonian Baltic List stocks was off 1.83 percent at 99.29 points - again below the 100-points benchmark.
"It was a quiet week, nothing significant happened," Alvar Roosimaa of Suprema said. "Estonian Telecom was sold down quietly and that left an imprint on the week."
Shares in Telekom lost 8.26 percent of their value during the week and closed at 100 kroons (6.391 euros). With a total turnover of 11.3 million kroons (719,560 euros), the share was the most-traded during the week.
"If such a share is sold down, the general mood also smacks of selling," Roosimaa said.
Hansapank generated 9.5 million kroons (609,486 euros), Telekom bonds - 7.7 million kroons and Reval Hotel Group shares 6.7 million kroons of turnover in the outgoing week.
The total trade of the week was 51.3 million kroons (3.27 million euros). The Estonian Baltic List stocks generated turnover of 1.69 million euros, approximately 50 percent of the total.
Latvia: Activity subsides again
Trading activity subsided again on the Riga Stock Exchange over the last week amid sharp falls by two of the leading stocks compensated by gains of two others.
The capitalization index DJRSE jumped 0.49 percent over the week to 103.24 points while the price index RICI gained 1.22 percent to 156.4 points.
From Latvian stocks of the Baltic List, gains posted by Latvijas Gaze and Balta corrected the losses posted by Latvian Unibanka and Ventspils Nafta leaving the composite Latvian index of the Baltic List almost unchanged over the week as it closed just 0.09 percent lower at 116.73 points.
Only Latvian Unibanka raised a noteworthy turnover changing hands for 256,300 lats or 460,400 euros. The bank's share price fell 3.13 percent over the week to 2.495 euros (1.39 lats). The reason for the share price decrease, most likely, is apathy on the market as Unibanka's financial operations cause no grounds for pessimism.
Both Latvijas Gaze and Ventspils Nafta generated turnovers of some 50,000 lats (85,000 euros) on average each.
Latvijas Gaze gained 3 percent over the week to 4.577 euros (2.55 lats). Analysts predict the gas company's stocks could fall again next week as speculators on the market may try to gain some profits from the last week's share price increase.
The stock market turnover last week was 380,500 lats or 685,000 euros, from this Baltic List stocks accounted for 94 percent.
The failure of Ventspils Nafta's biggest shareholders to reach mutually satisfactory agreement over the dividend payment has retained the interest of the small shareholders low and the oil terminal's stock price last week lost 2.66 percent to 1.077 euros (0.6 lats).
Lithuania: Telekomas pushes indexes down again
Lithuania's major stock indexes ended the week in the negative territory as market trendsetter Lietuvos Telekomas returned to a downward path after a brief rally at the end of the previous week.
The bourse's continuously tracked price index Litin-10 was off 0.99 percent at 958.82 points, the blue-chip Official List index Litin eased 3.08 percent to 411.15, and the Current List index Litin-A slipped 0.97 percent to 1056.27. The stock exchange was closed for a holiday on Monday and Tuesday.
The price index of five Lithuanian Baltic List stocks was off 0.8 percent to 102.73 points - its lowest point since mid-January.
Lietuvos Telekomas ended the week 4.22 percent lower at 2.16 litas (0.592 euros) with 656,800 litas (180,210 euros) worth of shares traded on the exchange. Another 412,500 litas changed hands for shares in the monopoly fixed-line telephone operator via block deals.
The decline was in line with expectations. Experts say Telekomas' share price is likely to drop further next week as the date when employee shares will appear on the market is approaching.
"Some panicking may be felt, which may drive (Telekomas) share price even lower," said Dmitrijus Dutovas, head of the Trading Unit at Baltijos Vertybiniai Popieriai (Baltic Securities).
The government sold a five percent stake in Telekomas to the company's employees a year ago, subject to a lock-up agreement, which expires on Aug. 23.
Cheese maker Rokiskio Suris held steady at 20.80 litas (5.7 euros) amid 67,500 litas (18,522 euros) turnover, and Vilniaus Bankas edged up 0.24 percent to 29.00 litas on 71,800 litas (19,689 euros) turnover.
Brewer Kalnapilis remained unchanged at 3.10 litas in light trading, while other blue-chip stocks were largely neglected during the three-day week.
Power utility Lietuvos Energija, flat at its usual 5.00 litas, led the way on the Current List, posting a turnover of 75,900 litas.
Some 320,400 litas worth of shares in dairy group Pieno Zvaigzdes were sold through block deals.
The equity turnover on the bourse came to 1.39 million litas (380,000 euros). The Lithuanian Baltic List shares accounted for 57.3 percent of this turnover with 218,727 euros.
Please enter your username and password.
2024 © The Baltic Times /Cookies Policy
