TSE (Tallinn) Market Overviews
12/11/2007-16/11/2007
Another week in
Tallinn with lack of market driving news and rather pessimistic mood had passed. The latter and continuing negative tendencies in major markets had its reflection in OMX Tallinn index, which went down by 3.87% but still did better than OMX Riga with its even larger decline. Comparing to previous week the turnover rose more than by 5 million euros and reached 22,206,246 euro, it was mostly contributed by Kalev, Eesti Telecom, and Olympic Entertainment Group. Relatively best performing companies were AS Viisnurk (VNS1T), Tallinna Kaubamaja (TKM1T), and Kalev (KLV1T) with increases of 4.91%, 1.28%, and 0.55% respectively. The three weakest stocks included Olympic Entertainment Group (OEG1T), Baltika (BLT1T), Silvano Fashion Group (SFGAT). The decreases were -17.16%, -10.53%, and -6.24% respectively.
The stocks of Olympic Entertainment Group (OEG1T) continued to be heavily influenced by sellers pushing down the price to 4.20 Euro, with turnover of 1,633,937 Euro. The drop in price was a consequence of publishing upsetting consolidated operating results for three quarters of this year: though turnovers have risen, net profit decreased by 2% and other important indicators are negative. This can be partly explained by company’s expansion but still acts as a warning sign.
This week’s winner – AS Viisnurk (VNS1T) has increased by 4.9% to 2.29 Euro, with turnover reaching mere 6,590 Euro. Major part of the increase was due to financial results of 6 months. However, relatively good results will hardly stop this stock from further falling after the division of the company in September and given overall situation in the market.
Second most increased stock – Tallinna Kaubamaja (TKM1T) has more potential. This week turnover was 1,241,590 (191 deals). Its unaudited financial results for 9 months pleased with 60% increase in net profits. This stock is very likely to rise in the nearest future thought this week it only increased by 1.28%, but it is mainly because of the market and not the company’s actual performance.
By Ervinas Škikūnas
Justinas Noreika
