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Baltic bourses down, but brighter than world markets

  • 2002-07-25
  • Boris Epsteins
During the past week the 14 blue chip Baltic stocks on the Baltic List index fell 1.11 percent to 158.63 points.

Seven shares fell in value, five gained and two Lithuanian stocks remained unchanged.

Highly capitalized Baltic List stocks fell, causing the Baltic List capitalization to fall from 2.85 billion euros ($2.85 billion).

The Baltic List turnover last week stood at 4.75 million euros, a four-fold drop compared with last week.

Estonian stocks accounted for 82 percent of the turnover. Latvian and Lithuanian stocks contributed 9 percent each.

As usual, Latvian and Estonian Baltic List shares held dominating positions in trade on local bourses, while the Lithuanian Baltic List's contributed 20 percent.

The second-quarter results of Norma and Eesti Telekom provided some action on an otherwise quiet week on the Estonian bourse.

The TALSE index fell 1.97 percent to 172.42 points over the week. The price index of Estonian Baltic List shares fell 1 percent to 146.46 points.

The week's turnover was 63.3 million kroons ($4.11 million), 69 percent of which derived from Hansapank stock deals.

The five Estonian Baltic List stocks contributed 96.1 percent of the total turnover, 60.8 million kroons.

Shares in Hansapank fell 1.94 percent to 205.13 kroons on trade of 43.4 million kroons over the week.

Shares in Eesti Telekom ended the week 2.86 percent down at 69.16 kroons. The stock's turnover totaled 12.2 million kroons, nearly one-fifth of the total turnover of the week.

Norma ended the week 1.22 percent up at 64.93 kroons as positive Q1 results inspired an increased price target.

Most Latvian stock exchange indexes fell last week. One reason was Latvijas Gaze's dividend payout, which caused a fall in share price.

The Dow Jones Riga Stock Exchange index fell 1.83 percent to 177.51 points, while the RICI price index gained 0.48 percent to 216.42 points.

The euro-priced Baltic List Latvian index, which felt the effect of currency exchange rate drops, was down 3.36 percent last week to 194.39 points.

The stock market's turnover was 280,000 lats ($471,380). Baltic List shares provided 92 percent of the turnover.

Compared with the previous week, stock turnover fell by 97 percent. Latvijas Gaze shares fell by 5 percent in value to 5.32 lats on a turnover of 67,597 lats.

LASCO shares over the week fell 2.94 percent to 0.35 lats on a turnover of 76.095 lats.

The further trade of LASCO shares will depend on an upcoming shareholders meeting and also on legal procedures regarding the privatization of these shares.

Shares of the oil terminal Ventspils Nafta were the single most-traded share, with a turnover of 112,473 lats.

News on the postponement of the privatization of Ventspils Nafta until at least late fall should create a positive boost for the market.

The Lithuanian stock market was stuck in midsummer doldrums over the last week. Market heavyweight Lietuvos Telekomas was the focus of brisk trading interest, while most other stocks ended amid modest trading volumes.

The bourse's benchmark price index Litin-10 edged down 0.47 percent to 1218.56 points. The blue chip index Litin fell 1.12 percent to 305.40 points and the broad index Litin-G was off 0.47 percent to 921.14 points.

The price index of six Lithuanian Baltic List shares, calculated in euros, inched up 0.31 percent to 150.79 points.

Equity turnover totaled 6.4 million litas ($1.88 million) last week. Baltic List share turnover was 1.25 million litas, 20 percent of the total.

On the Official List, Lietuvos Telekomas closed 1.77 percent lower at 1.11 litas on a turnover of 323,100 litas. The electronics firm Vilniaus Vingis skidded down 3.33 percent to 5.80 litas on a turnover of 54,300 litas.

Television tube manufacturer Ekranas slid 1.72 percent to 5.70 litas in trade worth 35,100 litas. Refrigerator maker Snaige held steady at 33 litas on a turnover of 33,100 litas and dairy producer Pieno Zvaigzdes rose 0.74 percent to 1.37 litas in trade worth 24,300 litas.

Knitwear manufacturer Utenos Trikotazas climbed 3.75 percent to 2.49 litas with 5,900 litas' worth of shares traded. The shares moved up ahead of the privatization sell-off of 4.25 percent of the company due to start in the bourse this week.

On the secondary Current List, shipper Lisco Baltic Service closed flat at 0.39 litas amid a turnover of 154,200 litas. Beverage maker Alita edged up 1.01 percent to 1 litas in trade worth 117,300 litas. The oil company Mazeikiu Nafta jumped 4.62 percent to 0.68 litas on a turnover of 71,800 litas and the marine transport company Klaipedos Transporto Laivynas remained at 0.39 litas on a turnover of 67,100 litas.