VSE (Vilnius) - Lithuanian Stock Market Overview

Lithuanian Stock Market Overview

19/10/2008-24/10/2008

OMX Vilnius last week‘s results come back to falling tendency. Even after a small rise the week before, the stock exchange went on falling and dropped by 11.12%, from 264.15 at the 19^th of October to 234.77 at the 26^th, which is the lowest level in last 52 weeks. This decrease surpassed Dow Jones Industrial Average, S&P 500 and NASDAQ almost by a half. There were 2 winners and 13 losers in Vilnius market main list and 7 winners versus 15 losers in the secondary list. The top gainers of the past week was Linas (LNS1L) with an increase by 66.67% and Dvarčionių keramika (DKR1L), as the share prices of it increased by 50.89%. Also, Snaige (SNG1L) showed quite good results, it has risen by 11.11% in the last week. However, the investors are still feeling pessimistic and there were way more losers. The largest losses got Stumbras (STU1L) and Invalda (INV1L), their shares have dropped by 26.62% and 22.11% respectively during the week. The total week’s turnover was 5,069,799.43 EUR. 

Linas (LNS1L), the largest producer and exporter of linen textiles in the Baltic States, has performed very well this week with the mentioned increase by 66.67% (turnover 7,633.25 EUR). This could be considered as an expected recovery after the bankruptcy of a subsidiary company Lino audiniai, announced 14^th July, 2008. The investors might feel optimistic after some announcements about specified consolidate strategic aims of the company for the year 2008.  

Snaige (SNG1L) has risen by quite a reasonable amount 11.11%, which is quite unusual, taking into consideration that in last 6 months it has decreased by 55.88%. The Investors might still feel optimistic after the announcement at the 6^th of October about changing the production strategy and the other announcement about the transactions of Snaige’s managers. 

Quite huge losses were suffered by Stumbras (STU1L). Shares have decreased by even 26.62% during the week, from 2.01Lt per share to 1.48Lt. Even though the investors were impressed by the Sales Report at 13^th of October their hopes faded away and the global financial situation motivated them not to invest. Moreover, the significant Friday’s loss was caused by the announcement of plans to temporary stop the production from the 25^th of December till the 5^th of January.  

Observing broader situation, media is spreading daunting announcements all over the investing world (‘Situation in USA market can become more horrible even than Halloween,’ publishes www.handelsblatt.de; ‘Markets are totally out of control,’ says Yuji Ogino, „Meiji Dresdner Asset Management“). So stay tuned, bulls.