TSE (Tallinn) Market Overviews
Estonian Stock Market Overview30/01/2006-03/02/2006
It seems like the sad days continue for Tallinn Stock Exchange, where the results of the week were even more depressing than of the previous ones. Seven of the Main List companies failed to avoid decreases in value, and only one stock, Baltika (BLT1T) went up; the same situation was observed in the I-List. Due to such poor performance, the OMX Tallinn index fell by 1.70% to 646.30. The overall trade turnover, however, increased quite substantially compared to the previous weeks and amounted €16,773,098.91, with AS Eesti Telekom (ETLAT) transactions (€11,044,947.18 made in 1,425,972 deals) comprising more than a half of this result.
The only Main List company that was lucky to see its share value increase this week was AS Baltika (BLT1T). The value rise by 1.16% was a consequence of 124,547 deals with a turnover of €1,621,668.61, the third largest this week. On Tuesday, 31st of January, the company announced a 12.4% increase of its ownership in AS Elina STC, a subsidiary specializing mostly on apparel production. As a result of a 22-thousand-Euro transaction, 62.5% of AS Elina STC share capital now belongs to AS Baltika. This may have influenced the company’s share value rise in the beginning of this week. The value has been fluctuating around €13 from the beginning of January, so the current increase is hardly a tendency.
This week was the first one for a long time when AS Tallink Grupp (TAL1T) is not the turnover leader – the figures are €2,140,190.34, which is almost the same as the previous week. On Wednesday the company released a statement informing that the cornerstone for the new Tallink Spa Hotel was laid that day, a €28.8 mil project to be completed at the end of the year. This news, however, did not prevent the company’s share value from falling further by 3.72%, reaching the €4.40 point.
AS Merko Ehitus (MKO1T) announced a new contract with OU Premium Trade for constructing a shopping center in Tallinn. The project cost has not yet been made public, but the share value of the company had been rising until Friday, when a sudden decrease led to the overall result of a minor negative value growth over the week – 0.28%. Despite of a dramatic increase at the beginning of January, the stock had a tendency to lose in value over the second half of the month, and a definite prognosis is a very hard thing to make.
By Andrii Shekhirev
