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Indices: / OMXR 0.00% / OMXV 0.00% / OMXT 0.00% / OMXS30 0.00% / OMXH25 0.00% / MICEX 0.00% Stocks: VTBR 0.00% / OMXV 0.00% / OMXR 0.00% / EEH1T 0.00% / GAZP 0.00% / VTBR 0.00% / OMXV 0.00% / OMXR 0.00% / EEH1T 0.00% / GAZP 0.00% Porfolios: StraterS 0.00% / koncik 0.00% / Laime 0.00% / Life 0.00% / RIX 0.00%
Tallinn Stock Market (TSE) Overview 06/11/2006 – 10/11/2006
This week’s total turnover in Tallinn Stock Exchange market was €23,557,258 which is €2,386,191 less than previous week. Tallinn OMX index increased by 3.48 % from 714.08 to 738.93 during this week. Tallinna Kaubamaja (TKM1T) showed the biggest increase in their shares value, which was a significant rise of 20.78%. The shares of Olympic Entertainment Group (OEG1T) were traded the most actively and finished the week with 834 deals and the largest turnover of €6,733,451.80. Overall, the stock value of 12 companies went up and for 4 companies it decreased, which reflects optimistic investors’ moods.
The value of shares of Tallinna Kaubamaja (TKM1T) has gone up by 20.78%, which was the biggest increase not only in Tallinn stock exchange but also in all the Baltics this week. On Monday, 6 November, the company announced the financial results of 9 months of 2006 which showed positive results of the company’s activity during the year. The net sales of Tallinna Kaubamaja Group have increased by 55% comparing the periods of 9 months in 2005 and 2006. The net profit has grown significantly during from 2.7 to 11.2 million euros during the same period. Moreover, this week the company made an announcement about buying ten new properties for the realization of projects being developed, including building additional sales space. Taking all this into account it is very likely that interest in the shares will remain high in the nearest future and that the value will keep rising.
The second biggest increase this week was made by Eesti Ehitus (EEH1T) shares. Their value increased by 10.60% from €8.49 to €9.39 and total turnover was €1,107,373. Estonian construction company published their financial report for three quarters on 8 November where the company claimed that the unaudited profit for the period was €3,985,000. They also established a development company in Ukraine. Future looks promising for this company because they have made big contracts (construction works of western breakwater and quays in port of Sillamäe) and there is probability that their share value will increase in the future.
With a turnover of €6,337,298.53 Tallink Group (TAL1T) shares value decreased 0.48% from €4.20 to €4.18. The week started with news that Tallink Group directors had allegedly exercised their power on Silja Line’s ship Symphony, which had negative impact on Tallink Group. Also, Estonian ministry of economics sued Tallink Group for not having paid for lighthouse and ice-breaking services in the year 2003 and first half of 2004. This week had bad influence on Tallink Group reputation therefore it is very likely that share value will continue to fall. However if they manage to solve these problems it is likely that the value of shares will recover.
Olympic Entertainment Group (OEG1T), a leading casino entertainment company in the Baltic States, was the one the shares of which were the most intensively traded in the stock exchange reaching 834 deals worth 6.733.451,80 euros. This might be caused by several reasons. First of all, the company is still on the wave of high interest as it went public into stock market less than a month ago. Second, two new casinos were opened in Lithuania and Ukraine continuing the company’s quick growth. And last but definitely not the least fact was that the financial results of three quarters of 2006 were published on Friday. The Group ended the first nine months of 2006 with consolidated revenue of 74.2 million euros, a roughly two-fold improvement on the 37.7 million euros attained a year ago. Consolidated net profit grew 2.3 times from 7.7 million euros earned a year ago to €17.8 million. As these numbers were announced only in the end of the week it is a very promising start for the next week while the increase in share value could be highly expected.
By Justas Lešinskas
Andres Maser
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