Tallinn Stock Exchange posts strongest performance in 5 years

TALLINN - The new year has started surprisingly well for investors in Estonia: the Tallinn Stock Exchange index OMXT rose in January by 8 percent, which are the best January results in five years, Postimees Online reports.
The last time prices of the shares increased so much over the course of one month was in back in March 2013, while in the month of January, the Estonian stock market index registered such strong performance was January 2010. Then the monthly increase was as much as 45 percent.

The stock market turnover in January was 13.3 million, which was by a million less than in January last year. However, 11.3 million securities changed hands, which is the highest volume of trading since March 2013.
The rise can be partly attributed to the European Central Bank’s money print, which the markets were waiting for a long time to receive, and which could have encouraged greater activity on the Estonian stock exchange.

The biggest share price rise was from Arco Vara with a share price increase of 22 percent. It is an illiquid security, which is also shown by the turnover of January - 30,268 euros. Arco Vara has, throughout almost all of its trading history, witnessed a major shareholder power struggle. In January this year it got worse and a shareholders general meeting was convened.

The second biggest riser was Tallink’s shares, which rose 15 percent, to 0.778 euros. The stock had a turnover of six million euros, which was several times larger than last year’s average monthly turnover.
During the month, the prices of nine stocks rose and four fell.