Prices up on the Baltic bourses

  • 1999-08-19
Last week prices of most liquid shares climbed, but with low trading volumes it is difficult to call this a turnaround. Average daily turnover on the most liquid of the three Baltic bourses - the Tallinn Stock Exchange - has been hovering around $1 million for some time.

Turnover on the Riga Stock Exchange remains lethargic. Last week's average daily turnover was just $40,000. Even $2 million in trading of government T-bills did not change the impression of critically low activity on the market. In Lithuania turnover on the central market was also very low.

However, a large direct deal in Svyturis shares, worth $10 million dollars, skewed the overall securities turnover figure. The joint list of securities currently under discussion could help revive trading, but it appears unlikely it will be in place before the middle of next year.