Renewed activity in Tallinn

  • 2003-03-20
  • Thomas Foulquier

The Baltic Index ended last week at 179.11 points, gaining 1.17 percent over the week on moderate turnover that slowed by the week's end.

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

"By the indexes it appears the week was slow," he said. "The share price index and the capitalization index were down, as well as bond activity."

Malbergs links the decreasing activity to the previous week's auction of government bonds that had led to an over average activity.

As far as stocks are concerned, sales of shares by LASCO employees and a previous increase of the stock's price are the reason for last week's decline, according to Malbergs.

LASCO was down 5 percent on a low trade to 0.39 euros per share. Ventspils Nafta and Latvijas Gaze were also down, 4 percent and 0.9 percent respectively.

Equity trading on the Estonian market was brisk last week, with the Tallinn Stock Exchange posting its largest turnover in three months. The Estonian index finishing at 169.4 points.

Hansapank gained 1.4 percent over the week - to 15.69 euros, while Eesti Telekom's stock fell 1.85 percent to 5.32 euros on the stock's busiest week in the past week.

Tallinna Kaubamaja's financial results did not meet investors' expectations, and the stock dived 4.1 percent, giving it a place on the week's losers list along with LASCO and Ventspils Nafta.

Vilnius was quiet as usual. Investors' interest in three stocks - Vilniaus Vingis, Stumbras and Anyksciu Vynas (the two latter stocks on the Current List) generated the bulk of the trade. Lithuania's index ended the week at 188.2 points.

On the Official List, Vilniaus Vingis was up 2 percent, while refrigerator giant Snaige charged ahead with a 7.14 percent increase to 34.75 euros per share, making it the Baltics' stock of the week.

Fixed-line operator Lietuvos Telekomas gained 2.3 percent on low turnover and was also among the week's gainers. TV-tube producer Ekranas closed 0.8 percent lower, while dairy producer Rokiskio Suris was flat.