In June LITIN index went up by 12%, LITIN-G index grew by 11%, and LITIN-10 rose by 7.5%. From the beginning of the year, share prices of 20 issuers grew 1.5 times, while prices of 10 issuers' shares more than doubled. The indices also grew remarkably: by 34%, 50%, and 33%, accordingly.
By decision of the NSEL Board of 23 June 2003, as of 1 July 2003 securities of public companies Ukio Bankas, Pieno Zvaigzdes, and Rokiskio Suris entered in LITIN-10 are replaced by shares of Rytu Skirstomieji Tinklai AB, Vakaru Skirstomieji Tinklai AB, and Klaipedos Nafta AB. On 1 July 2003, the comparative weight of Snaige AB's shares in the LITIN-10 was cut down to 20% and the resulting surplus was distributed among other shares proportionally.
The total securities turnover in June was the highest this year, amounting to EUR 68.6 m. The same is true about the T-bills turnover, which totaled EUR 54.5 m, accounting for 79% of the overall turnover of the month. A total sum of EUR 14.2 m was transferred in share trading. Though it is somewhat less than during the previous months of this quarter still the good news is that for a second consecutive month a greater share of stock turnover is produced via central market trading. Securities of Lietuvos Dujos AB, Lietuvos Telekomas AB, and Sanitas AB were traded on the CM for a total exceeding LTL 2 m and a fractionally smaller sum was processed in trading of the securities of Vakaru Skirstomieji Tinklai AB, Rytu Skirstomieji Tinklai AB, Klaipedos Nafta AB, and Vilniaus Degtine AB.
The securities turnover of the second quarter was 45% higher than that of the first quarter, amounting to EUR 171.7 m. The share turnover (EUR 47.5 m) doubled compared with the data of the first quarter and constituted 28% of the total turnover.
Riga
In June the Riga Stock Exchange trading volume amounted to EUR 16.01 million. Debt trading of EUR 14.88 million by far surpassed equity trading, which was only EUR 1.13 million. Ventspils nafta with EUR 0.3 million was the top traded company; Rigas KB with EUR 0.1 million followed. Latvijas Gaze with EUR 342.7 million continued to be the top company in terms of capitalisation, t be followed by Ventspils nafta with EUR 160.2 million and Latvijas kugnieciba with 92 million.
In June the main price winners were Kaija and Rigas TF - both 14.29%, to be followed by NORD/LB Latvija (formerly Pirma banka) with 10.24%. Ditton (5.56%), Valmieras SS (4.55%), Liepajas metalurgs (2.5%) and Ventspils nafta (2.04) also were among price gainers. Latvijas balzams shares lost 7.92% in price during the month; Olainfarm - 5.56%; Rigas KB - 2.5%.
Equity market capitalisation at the end of June stood at EUR 788.36 million; total debt market value was EUR 593.41 million. Dow Jones Riga Stock Exchange index has gained another 1.14% during June; the increase since the beginning of the year is already 22.81%.
As a part of the RSE securities list restructuring, two more Free list companies - Solo Riga and Ventspils ZKK - have displayed an intention to offer the mandatory share buyout to minority shareholders.
Tallinn
Trading activity of Tallinn Stock Exchange grew to 81 mln EUR and share prices gained 5.90% during June. Investors' interest was kept alive by listing of Klementi and Eesti Telekom additional shares.
Until the share capital increase has been registered with the Commercial Register, the 575,000 additional A-shares of AS Klementi are traded separately under shortname KLE2T and the additional shares of Eesti Telekom are traded under shortname ETL2T.
The percentage change of the consumer price index in June 2003 was 0.4% compared to May 2003. The consumer price index was mainly influenced by the decrease in prices of motor fuel, but also by special offers of communication services and increase in prices of housing services. On average, the prices of goods and services in June 2003 were 0.3% higher than in June 2002.
Estonian Bank announces that due to the anticipated European Union membership, the Estonian economy is in a situation characterised by highest ever reliability, practically similar interest rates with the EU, almost unlimited foreign borrowing and a large external deficit that has lasted for a whole year. Estonia is going to have a referendum on EU membership on September 14, 2003.
