.jpg)
In November Riga Stock Exchange total trading volume amounted to EUR 26.2 million. Equity trading volume of EUR 13.71 million surpassed debt trading, which was EUR 12.49 million. The two top equities in terms of trading volume were Latvijas kuìniecîba with EUR 7.4 million and Venstpils nafta with EUR 4 million; while Grindeks with EUR 1.64 million turned out be number three. Latvijas Gâze with EUR 356.37 million continued to be the top company in terms of capitalisation, to be followed by Venstpils nafta with EUR 116.86 million.
During November the main price gainers were Kaija with 20.83%, Rîgas Transporta flote with 16.67% and Ventspils nafta with 9.84%. Liepâjas metalurgs and Latvijas Gâze share prices also increased Œ by 4.17% and 3.48% respectively. Latvijas kuìniecîba lost 10.71% in value since the previous month, Rîgas Kuìubûvçtava 8% and Valmieras Stiklaðíiedra 1.96%.
Equity market capitalisation at the end of November reached EUR 707.96 million (a 1.05% decrease since October). Total debt market value was EUR 503.02 million. Dow Jones Riga Stock Exchange index has dropped insignificantly (-0.08%) since the end of October, whereas the loss since beginning of the year is 18.39%. It should be noted that at the same time the other RSE index RICI (equal-lat weighted) has gained 27.1% in value.
The macroeconomic indicator prospects continue to be promising for year 2002. According to Bank of Latvia, it is expected that GDP increase will be about 5%, and the inflation about 2%. Moody's Investor Service has increased the country credit rating for Latvia from Baa2 to A2.
Tallinn
TALSE index went up by 9.88% during November supported by the share price rally in other world markets. The equities in Estonia are up by 29% since the beginning of the year. The Stock Exchange turnover was 11 million EUR in November.
Moody's upgraded Estonia's foreign currency ratings ceilings to A1 from Baa1. The ratings were upgraded for eight central European countries expected to join the European Union in 2004. The process of economic and financial integration with the EU is virtually irreversible, said the agency.
Following the upward revision of Estonia's foreign currency ceiling, Moody's placed Hansabank™s Baa1 deposit and debt ratings on review for possible upgrade.
The net sales of TSE listed companies was 13% higher in 9 months 2002 compared to the same period last year, Äripäev newspaper reported. The relevant figure for net profit was 4.5% higher. By preliminary estimations the economic growth in Estonia was 7% in the third quarter of 2002 compared to the same period a year earlier, the Statistical Office said.
Vilnius
As the prices of dominating shares have increased during the period under review, the capitalisation of listed shares grew by 4% and the share indices went up: LITIN by 10% and LITIN-G by 2.9%. Lack of positive news resulted in a rather passive trading by investors on the Stock Exchange. In November the total turnover was the lowest of the current year standing at EUR 21.2 million. This month's turnover of the Government securities (EUR 16.4 million) was higher only than that of August and the turnover of shares (EUR 4.8 million) left behind only that of May. Share trading was marked by the prevailing trend of the current year: central market trading, where the amount of shares sold tripled, accounted for almost 70% of share turnover and produced a turnover (EUR 3.6 million) two times higher than through other transactions. Shares of Aliejus AB, which sought to purchase its own securities, made up one third of the central market turnover, while the turnover of Lietuvos Telekomas AB shares accounted for EUR 0.52 million on the central market. The turnover of shares in block trading in November (EUR 0.52 million) ranks among the lowest in the history of the Stock Exchange. Block trading was dominated by the turnover of Ðiauliø Bankas AB shares amounting to EUR 0.87 million.
Calculating from the beginning of the year, the turnover of the Exchange amounted to EUR 487 million, which is 4% higher than during 11 months of the previous year. Due to a notable growth throughout the year the debt securities turnover is 28% higher than during the same period of 2001 and stands at EUR 319 million. Shares account for 34% or EUR 163 million of the total turnover.
