Baltic markets move in different directions

  • 1998-12-10
Opponents to the unification of the Baltic bourses can feel smug after this past week, which saw the markets moving in different directions.

After rallying the previous two weeks the Lithuanian market had a strong correction last week, mostly due to the fall in Vilniaus Banka's share price.

Trading on the Estonian market was anemically thin, and a hint of uncharacteristic optimism appeared among Latvian traders.

Even if the Baltic bourses decided to merge today the action would unlikely impress anyone. A united Baltic market would have a daily turnvoer of just $1.3 million and its market capitalization would not even hit $2 billion. These figures are unimpressive not only on the world scale but on the Eastern European scale as well.