RSE (Riga) Market Overviews
Latvian Stock Market Overview16/01/2006 – 21/01/2006
This week the total turnover decreased slightly to 1,241,245.04 EUR compared to last week’s 1,346,888.87 EUR. For the 2nd week in a row, OMX Riga index increased (+0.09%) while BALTIX decreased (-0.40%).
For the top gainer Grindeks (GRD1R) this was an eventful week. On Wednesday its largest stockholder Kirovs Lipmans made an official announcement about buying yet another 2.99% of Grindeks’s shares from another shareholder Jānis Naglis. On Friday in an extraordinary shareholders’ meeting councilors of Grindeks were reelected; together with the 4 previous members there is one new, the director of Latvian Institute of Organic Synthesis. Consequently, after being constant on Monday and Tuesday the share price fluctuated during the rest of the week. Next week we expect the share price to rise somewhat because councilors have been reelected without difficulties and one of them seems to be an expert in the drug industry.
This week was rather active for Latvijas Balzams(BAL1R) with a high turnover. However, the price per share didn’t change and it’s 7.54 EUR per share. Two previous weeks were quite intensive for BAL1R, because the share price went up by 3.92% and 13.33%. There were no news, published by BAL1R, so still there is a chance for the price to go up, because of the excise tax for alcohol that was increased two weeks ago.
One of the losers of this week was SAF Tehnika (SAF1R). The total turnover for the company was 52,677.57 EUR and the share price fell by 0.43% and amounted to 16.58 EUR per share. In the beginning of the week Ivars Bergamins, a member of SAF Tehnika Supervisory Council resigned and left the office. However, this resignation didn’t affect the situation in the stock market. The share price didn’t chance dramatically.
By Arturs Kanepajs
Jevgenijs Mihailovs
