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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%
Latvian Stock Market Overview 27/11/2006 - 01/12/2006
This week was less active than previous one. The total market turnover went down from EUR 2 143 088 to EUR 1 671 469, showing a decrease of 22%. The main reason for decreased activity was state holidays associated with NATO summit, which decreased investor activity. Similarly stock values on this week did not change much – there were 4 rises 4 falls and 3 unchanged positions on both Baltic Main list and I – list. Nevertheless OMX Riga experienced a slight increase of 0.67% and BALTIX of 0.96%.
The leader of this week was Liepajas Metalurgs (LME1R), which showed increase by 7.8% from EUR 2.93 to EUR 3.16. This increase was very rapid and occurred only on 1st of December, when its turnover and number of deals peaked EUR 108932,29 and 101 respectively. This mainly was associated with the release of unconsolidated financial report for first 9 months. During this period LME1R 4 times increased its profit after taxes and all other major financial data showed significant improvements as well. Nevertheless, during last 6 months the stock value has been increasing and there is no reason to doubt this increase; however investors should be careful when deciding in investing, because future increase might be slowed with change of investor interest in this enterprise due to news related with other enterprises. Thus, LME1R can be strongly expected to increase.
The largest fall of this week was experienced by Valmieras Stikla Skiedra (VSS1R), which experienced loss of 4.7% from EUR 3.39 to EUR 3.23. These news and the rapid decrease of price during 2 days were associated with the release of first 9 month financial report. During this period the profit decreased rapidly from 2 million EUR to 50 thousand, nevertheless this decrease of profits was associated with a change of stock, and other financial data showed an improvement: total turnover, assets and generated cash at the end of the period. Thus negative news should be taken with caution, because a rapid recovery might come. However, during last 9 months the stock value has already fluctuated a lot, thus investors should carefully reconsider investing in VSS1R, because trend of movement here suddenly might change and become both bearish and bullish. Thus, we suggest waiting on VSS1R.
The best performer of last week Olainfarm (OLF1R) experienced a decrease of 3.1%, which were associated with release of 2006 first 9 month unconsolidated and unaudited results. During this period enterprise increased profits, yet increased amount of stock. Also during this period total assets and generated cash increased significantly. Similarly during last 6months Olainfarm experienced a rather constant increase in share value, thus this negative signal might be very easily offset by a market in a near future. Thus we moderately suggest buying OLF1R.
By Nataļja Avramenko
Aleksandrs Graholskis
Juris Rumba
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