The negative performance of Baltic markets continues and this week was not an exception. A discussion about possible “hard lending” of the Baltics continued and
Latvia is still considered to be the most vulnerable. During this week the turnover of the Baltic Main list increased by 379.8% from 600 722.55 EUR to 2 882 515.64 EUR. The whole market turnover was affected by this major change. Index of OMXR had decreased by 6.99%. However, the number of deals had increased slightly compared with the previous week from 340 to 496. SAF Tehnika (SAF1R) was the firm that experienced the biggest stock price fall by -28.57%. None of the companies from the Baltic Main list had an increase in their stock prices; therefore there was no winner of the week.
SAF Tehnika (SAF1R), a company which core business is manufacture and sale of telecommunications equipment, continuous to plummet as it is experiencing a constant drop for 8 month. SAF Tehnika experienced a major decline in the stock price by 0.86 EUR. The reason for that may be the loss in faith in this company as it constantly keeps hitting anti-records of stock market.
Grindex (GRD1R) which is one of the leading pharmaceutical companies had experienced a considerable drop in their stock prices by 15% from 10.13 EUR to 8.40 EUR. The turnover of the week had reached 80532.73 EUR with 62 deals. The company has experienced a fluctuation in its stock prices for a month already. However this was so far the biggest decline in its stock prices.
Ventspils Nafta (VNF1R), which is Latvian oil company, was another company that ended up this week with negative changes in stock price. It experienced a decrease by 18.3%. The turnover of this week was 100066.37 EUR with 143 deals. The stock price has been plummeting already since the start of October, which may be the result of the news in the mass media that
Switzerland and Lichtenstein have begun investigation in criminal procedure concerning the owners of Ventspils Nafta.
