Share turnover in August shows that investors find the Lithuanian securities market attractive, and interest in it is retained. Prices of just five listed companies decreased. As a result, capitalisation of listed shares improved by 6% and climbed over the margin of EUR 2.6 billion. The growth of equity indices, which started in March, accelerated even more in August, and indices reached the highest values of 52 weeks. During the month under review, index LITIN improved by 15%, and LITIN-G and LITIN-10 increased by 8% each.
The total turnover of this month was not the biggest this year and reached EUR 46 million. Nevertheless, share turnover, as compared with June, augmented by 60% amounting to EUR 24.5 million and was the largest among monthly turnovers of this year. Moreover, it also exceeded share turnover of the first quarter. Since the beginning of the year, share turnover on the central market was increasing, and in August it reached the second best result in the ten-year history of the Stock Exchange - EUR 14.5 million. On the central market, the most active trading was carried out in shares of Sanitas, Lietuvos Telekomas, Snaige, Klaipedos Nafta and Rokiskio Suris. The total NSEL turnover of eight months (EUR 377 million) was by 20% higher than that during the same accountable period last year, share turnover (EUR 112 million) - by 60% higher, and that in debt securities - by 9% higher.
On 14 September 2003, the NSEL is celebrating the 10th anniversary of its activities.
Tallinn
Tallinn Stock Exchange turnover in August was EUR 20.22 million, while TALSE index gained 5.93%.
Financial results of all listed companies have been published, making the share prices to boost to new records day by day. The shares Merko Ehitus, Estiko and Harju Elekter were the TOP performers in August, rising by 54%, 41% and 30%, respectively.
On September 2, the 10,000 bonds of Hansa Capital were listed on TSE Bonds List. The 39,500 additionally issued shares of clothing producer Baltika were listed on the Main List on August 5.
The total number of people joined the 2nd pillar pension was 278 118 at the end of August 2003. Current joining period lasts until October 31.
By preliminary estimations the y-o-y GDP growth in Estonia stood at 4.1% in the 2nd quarter of 2003.
On September 4 OMHEX, the parent company to HEX Tallinn, Riga Stock Exchange and Latvian CSD, announced the first day of operations and the commencement of trading in the OMHEX share. Created through a merger between the Swedish company OM and the Finnish company HEX, the new company OMHEX is a leading provider of marketplace services and transaction technology, facilitating efficient securities transactions. OMHEX operations are based on two divisions; HEX Integrated Markets, northern Europe's largest securities market, offering access to approximately 80 per cent of the Nordic and Baltic equity market, and OM Technology, a leading provider of transaction technology for the world's financial and energy markets.
Riga
In August the Riga Stock Exchange trading volume amounted to EUR 12.5 million: equity trading volume was EUR 3.72 million, and was surpassed by debt trading of EUR 8.78 million. Grindeks with EUR 0.657 million and Rigas KB with 0.65 million trading volume were the top two companies. Latvijas Gaze with EUR 380 million retained its leader position in terms of capitalisation, to be followed by Ventspils nafta with EUR 198.38 million, Latvijas kugnieciba with EUR 117.1 million and NORD/LB Latvija with EUR 111.6 million.
Price increase was experienced by nearly every Official and Second list company, the main price winners being Rigas TF (27.78%), Olainfarm (23.81%), Liepajas metalurgs (22.22%). The overall price increase is reflected by the rise of capitalisation figure to EUR 951.5 million (10.95% increase over July). Dow Jones Riga Stock Exchange index has gained another 9.45% during August; the increase since the beginning of the year is already 43.26%. Total debt market value was EUR 631.51 million.
Two more Free list companies (Viesnica Latvija and Poligrafists) have announced their intentions to buy out shares from minority shareholders.
Riga Sock Exchange, jointly with brokerage company Suprema, is organising roadshows to the potential Latvijas kugnieciba investors in the anticipation of the auction of 5.75% of share capital put out for sale in domestic and international market. The roadshows will take place in Stockholm, Helsinki, Tallinn and Riga; the auction will be held on September 15, 2003.
