In July the Riga Stock Exchange trading volume amounted to EUR 44.63 million. Both equity and debt trading figures boosted: equity trading increased by 763% during one month and reached EUR 9.74 million, while increase in trading of debt instruments was 135.18%, amounting to EUR 34.89 million. Valmieras SS with EUR 6.04 million became the leader of the month in terms of trading volume, to be followed by Liepajas metalurgs with EUR 0.63 million and Ventspils nafta with EUR 0.38 million. Latvijas Gaze with EUR 343.48 million retained its leader position in terms of capitalisation; Ventspils nafta with EUR 177.32 million is the second largest company, followed by NORD/LB Latvija (EUR 107.89 million) and Latvijas kugnieciba (EUR 103.97 million).
Price increase was experienced by every single Official and Second list company, the leading price winner being Liepajas metalurgs (31.71%). The overall price increase is reflected by the rise of capitalisation figure to EUR 857.63 million ( 8.79% increase over June). Dow Jones Riga Stock Exchange index has gained another 6.58% during July; the increase since the beginning of the year is already 30.9%. Total debt market value was EUR 599.24 million.
The Free list companies Solo Riga and Ventspils ZKK have accomplished their mandatory buyout offers and will be delisted from the RSE Free list starting with August 1. As a result, 59 companies will remain listed on the Riga Stock Exchange (3 on Official list, 10 on Second list and 46 on Free list). This is in line with the RSE securities list restructuring policy.
Tallinn
In July the turnover of Tallinn Stock Exchange relapsed to EUR 29.15 million while TALSE index grew by 3.6%. The price of Hansabank share hit its historical highest at EEK 300 (EUR 19).
3,500 bonds of state-owned postal services provider Eesti Post were listed on the Bonds' List on July 11.
Financial results of vehicle components producer Norma were released on July 16. The company's consolidated net profit in H1 2003 was EUR 4.5 million, a 21% drop compared to the same period last year. Earnings per share stood at EUR 0.34.
The net profit of Estonian Telecom in the first half-year of 2003 was EUR 28 million or EUR 0.21 per share. Corresponding figures for H1 2002 were EUR 31 million and EUR 0.22 per share.
The percentage change of the consumer price index in Q2 2003 compared with Q1 2003 was -0.3%. It was mainly influenced by the decrease in the prices of motor fuel, by the seasonal increase in the prices of vegetables and by special offers of communication services, according to the Statistics Office. On average, the prices of goods and services in Q2 2003 were 0.7% higher than year before, according to the Statistics Office.
Vilnius
In July, the number of transactions in shares increased by more than 12%, and the turnovers both on the central market and by block and other transactions exceeded those recorded in June. The total share turnover, reaching EUR 17.6 million, was the largest not only this year but also among turnovers generated in July over the last four years. This came as a result of the dynamics of share prices and positive changes thereof.
Activeness on the share market created conditions for the increase of capitalisation of listed shares by 14% and for further growth of equity indices. In July, the weight of the index LITIN-10, in the basket of which three companies were replaced as of 1 July, added another 14%, and on 30 July it climbed over the margin of 2000 points. The LITIN-G index demonstrated a similar growth, and at the end of the month it stood at LTL 1559.21. The last time when the index had reached this level was recorded in June 1998. The Official List index LITIN grew by 6.9%.
Active trading in shares slightly diverted attention of market participants from trading in Government securities. In July, the number of transactions concluded in the Government securities was by a third smaller and their turnover was twice lower than that in June. Therefore, the share of these securities in the total turnover lowered from 79% (in June) to 69,5%, and the total securities turnover was relatively small standing at EUR 43.5 million.
