TSE (Tallinn) Market Overviews

Estonian Stock Market Overview
31/10/2005-04/11/2005

Although this week’s biggest changes in stock value were shown by Tallinna Farmaatsiatehas (TFA1T) – 14.29% increase, and Klementi (KLEAT) – 3.41% decrease, they were caused by single small deals and cannot characterise the overall situation. Tallinn OMX index rose by 0.79% from 672.10 to 677.38, mostly because of the dramatic increase on Monday. The stock value of 8 companies went up, whereas other 5 companies faced a decrease in the stock value and one company experienced no changes in indices. The total turnover was equal to € 7,049,439.42.

Tallinna Vesi (TVEAT), the company which tends to be one of the main players in Tallinn Stock Exchange, is also worth mentioning this week. More precisely, it was characterised by the biggest turnover (€ 2,733,289.90) and one of the most significant falls in stock value. The company revealed its financial results for the last nine months, but the investors weren’t pleased with them: Tallinna Vesi is investing in fixed assets, resulting in the company’s low net profit for the third quarter. During October, stock price has been fluctuating and it is hard to say which direction it will go in the nearest future.

Viisnurk (VNU1T), a wood processing company that produces home furniture, insulation fibre-boards and interior finishing panels, published its financial results for the third quarter 2005. This is the main reason why Viisnurk is one of this week’s leaders in stock value increase (12.76%). The company also made the biggest turnover in the Baltic I-list, amounting € 267,044.33. Although the Q3 2005 report was published on Friday, the 4th of November, the peak at stock value of € 3 was reached on Wednesday, the 2nd of November, which means that investors had been expecting the high performance. The stock value for Viisnurk is expected to preserve its growing trend, as the net profit for nine months has almost doubled compared with the previous year.

Eesti Telekom (ETLAT), Estonia’s biggest communications services provider, was one of the leaders in the group of companies whose stock value rose this week. Following the last week’s trend, when the rising was due to the fact of negotiations concerning the purchase of MicroLink by AS Elion, one of the subsidies in of Eesti Telekom, this week the stock value increased sharply by 2.28% after the news that the contract was signed. As MicroLink provides services for Lattelekom SIA (Latvia) and Lietuvos Telekomas AB (Lithuania), the profit from these operations will now go into the pocket of Eesti Telekom. Bearing that in mind, the company can be considered to be a profitable investment.


By: Linas Liktorius
Andrii Shekhirev