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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 13/11/2006 – 17/11/2006
This week the total turnover of Tallinn Stock Exchange market was €25,670,476 which is €2,113,218 more than previous week. Tallinn OMX index increased by 4.39% from 738.93 to 765.30. The biggest increase in share value was shown by PTA Grupp AS (PTAAT1) – growth of 20.54%, and Kalev (KLV1T) – growth of 17.36%. Olympic Entertainment Group (OEG1T) came up with the biggest number of deals having a turnover of €10,868,771. This week the investors were more active as there were 915 deals more than previous week, which is 3544 deals in total. This is also indicated by the increase in value of 13 stocks and decrease only in 2 positions this week.
This week the largest increase in value - equal to 20.54% - was done by the shares of PTA Grupp AS (PTAAT) – an international woman apparel design, manufacturing, marketing, and trade group. On Tuesday, 14 November, company announced that a wholly-owned subsidiary of PTA Grupp is going to increase its share of capital in the leading producer of women lingerie in Byelorussia, SP ZAO Milavitsa. However, the investors did not seem to react to this message adequately as it probably looked unimportant. But the situation changed on Thursday, 16 November, when the company made another announcement stating that AS Silvano Fashion Group, also a 100% subsidiary, concluded the purchase contract of one Polish lingerie retail chain operator. As a consequence of these two messages, the value of shares of PTA Grupp by the end of the week had grown up to €4.05 compared to €3.39 at the beginning of the week. Due to this dramatic increase after which it is very unlikely that the value will increase even more and taking the fact the company is not listed in the Baltic Main List into consideration most likely in the nearest future the value of the shares will level off.
The second biggest increase in shares value this week belongs to Kalev group. Kalev (KLV1T) shares went up by 17.36% from €1.44 to €1.69. The biggest increase was shown on Tuesday (14.48%), 14 November, when it was publicly revealed that Kalev group will refinance its loan and leasing obligations to its existing creditors. Among other things, a 3.63 million euro (60 million EEK) pledge on Estonia’s best-known trademark, KALEV, was eliminated. Non-surprisingly this was the biggest daily increase for the whole market in this week. In the long run Kalev will certainly be better off and the shares will definitely rise even more.
The biggest turnover this week belongs to Olympic Entertainment Group (OEG1T) - 10,868,771 €, which was the biggest turnover not only in Tallinn stock exchange but also in all the Baltics this week. There were 1195 deals with the stocks made, which is 1/3 of all the transactions. The value of shares of the leading casino entertainment company in the Baltic States increased by 12.09% from 6.70 € to 7.51 €. The high activity of trading of the stocks is probably due to the fact that the company has had extremely successful beginning from the first day of coming to the market. It is very likely that the increase in shares value will continue in short run.
The stocks of Tallink Grupp (TAL1T) showed the second largest turnover, which was €5,544,913.96. The week was quite full with announcements from Tallink which were both of positive and negative manner therefore this might have been the reason for high turnover numbers but not a large change in value. During the week the company announced the statistics for October 2006. Comparing with the same period last year the total amount of passengers carried increased by 124.7%, cargo units – by 137.3%, and vehicles – by 78.3%. Moreover, the stage of the process of building new ships was reported. The keel of the newest and most modern cruise vessel of Tallink to be ready in 2008 was laid on Tuesday. Another high speed passenger ship was ordered and should be finished in 2007. As the company is set to grow and shows very positive results it might be expected that in the long run the value of shares will grow. Therefore Tallink Group may be treated as a good position for longer term investments.
By Janar Merilo
Justas Lešinskas
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