Tallinn 10:00-14:00
Riga 10:00-14:00
Vilnius 10:00-14:00
Moscow 09:30-17:45
Stockholm 10:00-18:20
Helsinki 10:00-18:20

All times: GMT +2
2008-02-09 16:35:01
EUR/USD 0.6894
EUR/LVL 1.4362
EUR/LTL 0.2896
EUR/EEK 0.0639
EUR/SEK 0.1061
EUR/RUB 0.0279
Indices: / OMXR 0.00% / OMXV 0.00% / OMXT 0.00% / OMXS30 0.00% / OMXH25 0.00% / RTS 0.00%                     Stocks: BANE 0.00% / SEBA 0.00% / SCVB 0.00% / SCVA 0.00% / SCRIB 0.00% / BANE 0.00% / SEBA 0.00% / SCVB 0.00% / SCVA 0.00% / SCRIB 0.00%                     Porfolios: pantera 5.38% / Reliance 4.31% / AC 3.55% / Kraujas 3.48% / Vito 3.39%
 

RSE (Riga) - Latvian Stock Market Overview

Year: 2008 Week: 5
This week the Riga Stock exchange market experienced decrease; the OMX Riga index turned out negative -3.37%. The number of deals decreased by -34%, it declined form 517 deals in the last week to 341 deals in this week. Also the total turnover in this week decreased from 3941729.83EUR in the previous week to 1523848.84EUR. So the decrease in turnover of the main list was -158.67%. However, there were 4 losses and 2 raises in the main list. This week SAF Tehnika (SAF1R) surprisingly was the winner of the week; it faced a stock value rise by +13.84 % and reached the price of 1.62 EUR at the end of the week. Rise in stock value was experienced also by Grindex (GRD1R) and it was +1.21% respectively. The loser of this week was the previous week’s winner Olainfarm (OLF1R) which stock price decreased by -10.97%. The downward trend form previous week was experienced by Latvijas Kuģniecība (LSC1R) and Latvijas Gāze (GZE1R) with stock prices’ decreases by -3.51% and -3.89% accordingly. Another loser in this week was Ventspils Nafta (VNF1R) which experienced the decrease in stock market value by -4.61%.
 
Stock value of the week’s loser Olainfarm (OL1R) declined in this week by -10.97% and reached the price of 2.85 EUR at the end of it. The decrease was not expected since in the previous week Olainfarm (OL1R) was the winner of the week. The reason of such a rapid fall in stock price is resignation of one of the members of JSC „Olainfarm” Council. Deputy Chairman of the Council resigned from his position and therefore created negative impression to investors concerning the expected financial situation in the company. 
 
Latvijas Kuģniecība (LSC1R) faced decrease in stock value of -3.51% and reached price of 1.51EUR at the vary end of the week. The decrease in stock value this week is less than in the previous week. There were many events which influenced the value of stocks of Latvijas Kuģniecība (LSC1R). During this week the board of the company changed regarding division of positions. The fleet of the company has been enlarged by a new tanker. At the end of the week it was announced that this company is recognised as a victim in a criminal procedure. Because of illegal contracts signed by the previous management, Latvijas Kuģniecība (LSC1R) suffered losses.
 
Stock value of the company Latvijas Gāze (GZE1R) decreased by -3.89% and at the end of the week reached the value of 10.53 EUR. It is expected that the price will increase due to the growth of gas prices in the spring of year 2008. The growth in gas prices are set to be 50%. Latvijas Gāze (GZE1R) signed an agreement with company “Gazprom” which supplies gas to Latvijas Gāze (GZE1R). It is expected that after the rise in prices in this spring the prices will not increase so rapid for the next 3 years. This fact might not be beneficial for potential investors in the long run.


Review by: Armands Liseks, Kristine Katlinska