TSE (Tallinn) Market Overviews

Stock traders experienced another moody week in Tallinn Stock Exchange (TSE). Turnover was 14,849,478 EUR, an average for Tallinn. The OMX Tallinn index dropped down by 7.12 percentage points, which was worst of all Nordic indices. Once again, the fall can be partly explained by imminent recession in the USA, world’s economy driver, and lack of superior performance from the companies in the region.  Those negative tendencies were reflected by stock prices – almost all stocks fell. Only two, Ekspress Grupp (EEG1T) and Starman (SMN1T) managed to lock their positions at 0%. The Starman, however, showed miniature turnover of 336 EUR. The worst performing stocks: Arco Vara AS (ARC1T), Tallinna Kaubamaja (TKM1T), and Merko Ehitus (MKO1T) with -21, 17%; -12, 53%; -12, 43% respectively.

Arco Vara (ARC1T) turnover was 429,346 EUR, price settled at 1.08EUR. The company is expanding to Romania, allegedly profitable market for a real estate company, but the market is still not in favour of real estate firms.  The most probable scenario is that the price will fluctuate according to overall TSE directions until disclosure of financial reports.

 

Tallinna Kaubamaja (TKM1T) is the second worst stock: decrease of -12.53%, turnover 497,396. This week everybody waited for annual sales report, which was suspected to be positive and this common opinion pushed the price downwards. The report showed rather good results (among other indicators, sales revenue increased by more that 30%). No need to be an expert to predict an increase next week. However, one must consider the overall negative tendency of the stock market.

 

Another interesting position was Tallink Group (TAL1T), a decrease of -8.33% and turnover of 7,703,411 EUR. The company has ended six week procurement of its stocks. During that time the price constantly declined and at the end of the day the company bought only two thirds of the planned amount.  Since there is very little support for the stock, the price will probably go down even more.