Renewed activity in Tallinn

  • 2003-03-13
  • Thomas Foulquier
RIGA

A rush of activity with Estonian stocks was the highlight of local equity markets, as the Baltic Index gained 1.1 percent over the week ending March 7, finishing at 179.1 points.

The Tallinn Stock Exchange saw its biggest turnover in three months, and the Estonian index finished at 169.4 points. Hansapank gained 1.4 percent over the week to 15.6 euros and also saw its stock change hands more than at any other time in recent months.

Eesti Telekom's share price, by contrast, was down 1.8 percent to 5.32 euros on the stock's biggest weekly turnover this month.

Tallinna Kaubamaja's financial results did not meet expectations, and the stock dived 4.1 percent over the week, making it to the week's losers' list, along with LASCO an Ventspils Nafta.

In Latvia, Arnis Malbergs, a financial market analyst for Unibanka, said the trading atmosphere was dull.

"Judging by the indexes it appears the week was slow. The share price index and capitalization index were down, as well as bonds," he said.

Malbergs said the fall in market activity was linked to the previous week's auction of government bonds that had seen better-than-average activity.

Regarding equity, LASCO was down 5 percent on a low trade to 0.39 euros per share on sales of shares by employees, explained Malbergs, while Ventspils Nafta and Latvijas Gaze were also down, 4 percent and 1 percent respectively.

Markets were typically quiet in Vilnius. Investors' interest focused on three stocks: Vilniaus Vingis, Stumbras and Anyksciu Vynas. The latter two - both on the Current List - generated the bulk of the trade.

Lithuania's index ended the week at 188.2 points.

Meanwhile, on the Official List, Vilniaus Vingis was up 2 percent, while refrigerator maker Snaige charged ahead with a 7.1 percent increase to 34.7 euro per share and was the Baltic gainer of the week.

Fixed-line operator Lietuvos Telekomas rose 2.3 percent to 0.26 euros on a low turnover and was also among the week's gainers. TV-tube producer Ekranas closed 0.87 percent lower, and dairy producer Rokiskio Suris was up 0.2 percent.