TSE (Tallinn) Market Overviews
Estonian Stock Market Overview21/11/2005-25/11/2005
On Monday the Tallinn OMX index fell by 1.45% and the main reason for this was that Tallink Group announced their emission and that they plan to enter the market on 9th of December. The OMX index went up every day after that but altogether it could not make an increase when we look at all the week. The Tallinn OMX index fell by 0.29% from 678.88 to 676.93. The greatest turnover of €3,882,240.60 was made by AS Tallinna Vesi (TVEAT), which made about 25% of the week’s total turnover €11,472,412.95. 4 companies faced an increase in the value of shares whereas for 8 companies the value of shares went down.
This week the clothing retailer AS Baltika (BLT1T) shares’ value decreased by 4.67% from €10.49 to €10.01. As during the year 2005 there has been 438.17% increase, so it is no surprise that the shares have been overvalued and now the market is adjusting the price to the real one. We can expect a further fall in the short run, though in the long run it is expected for the value of shares to raise.
AS Tallinna Vesi (TVEAT), which made the greatest turnover of €3,882,240.60, faced a marginal increase of shares’ value of 0.14%. Having in mind that the exclusive supplier of drinking water and sewerage services in the main service area in Tallinn is rather new in the stock market, people still expect that its shares’ value will go up even more in the long run but only by marginal increases.
AS Kalev (KLV1T) had a bad week as its value of shares declined by 6.54%, which shows that the expectations on AS Kalev have changed, especially compared to the previous week. It now seems that the peak reached in the middle of November is over, though the value of shares is now about 10 % higher than it was at the beginning of November. Perhaps the Christmas season for this producer and seller of confectionery products will fix the situation and the price of shares will go up.
By Ramojus Gineika,
Harro Rannamets.
