TSE (Tallinn) Market Overviews
Estonian Stock Market Overview14/11/2005-18/11/2005
This week was a hard one on Tallinn Stock Exchange, 9 companies faced a decrease in stock value, forcing the Tallinn OMX index fall down by 0.92% from 685.16 to 678.88. On the bright side, the stock value of 3 companies went up and 2 companies experienced no changes. The week’s total turnover was equal to € 9,540,333.41.
Kalev (KLV1T), the biggest and the oldest confectionery factory in Estonia, was this week’s leader in Tallinn OMX Stock Exchange Market with a 4.90% increase in stock value. The value of shares began to increase after the previous Friday’s (11.11.2005) extremely active trade, when 352,000 shares were involved in transactions, mostly made by Suprema investment bank clients. Presumably, this happened due to high expectations for the quarter results that are to be announced at the end of November. The best season for sweets producers – the Christmas trading – will start in a month, and Kalev is preparing for the peak time by recruiting 100 temporary workers. It is expected that the rising of stock value not stop only after the Christmas and New Year’s boom ends.
Tallinna Kaubamaja (TKM1T), one of Estonia’s biggest wholesale and resale companies, continued to suffer stock value decrease this week, which amounted 3.83%. The most important reason is the decision of the Management Board of Tallinna Kaubamaja from 11.11.2005 to close its fashion store in Rocca al Mare shopping centre by the end of this year. It was motivated by a need to pay more attention to Tallinn and Tartu shopping centers, but the shareholders may as well draw from this that the company is having financial problems. In the long run the stock value of Tallinna Kaubamaja has taken the downward direction and there are no signs that this will change.
Eesti Telekom (ETLAT) made one of the biggest turnovers €2,455,557.89 and faced the second biggest increase in stock value by 1.71%. Supposedly, the increase occurred on the wave of the positive results of purchase of Microlink (a large Estonian IT company). Another thing worth mentioning is the fact that Eesti Telekom pays the highest dividends, 6.6%, amongst the 14 Tallinn Stock Exchange participating companies, and as long as it persists, its share value is predicted to steadily increase.
By Andrii Shekhirev
Linas Liktorius
