In 2003, trading in securities on the Stock Exchange was
exceptionally stable - the turnover of nine months exceeded LTL 150
million. Trading was stable in December too: total turnover of seven
sessions was higher than LTL 10 million, and turnover of shares on
the central market exceeded LTL 1 million in as many as fifteen
sessions. Investors' incentive was stimulated not only by willingness
to review their investment portfolios at the end of the year but also to
supplement them with shares of three companies, Lietuvos Telekomas,
Vakaru Skirstomieji Tinklai and Rytu Skirstomieji Tinklai, which were
distributed to the citizens as a compensation for the existing real
property being bought out by the state. It is no surprise then that in
December among shares of 8 companies with the turnover exceeding
1 million litas on the central market the first positions were taken by
shares of these particular companies. Compared to other months of
2003, however, December differed in a higher turnover of negotiated
deals; it was the largest in 2003 and amounted to LTL 45.5 million.
As many as 31% of this turnover accounts for shares of AB Ekranas.
The share turnover on the central market - LTL 27 million - not only
was 2.4 times higher than in November but also the highest of all
Decembers in the history of the Stock Exchange. The share portion
in the total turnover of the month (LTL 74.6 million) reached LTL 180
million, rocketing from 20% in November to 41% in December.
Trading in T-bills was not as active as usual at the end of the
year. Its turnover was below the average monthly value and made
up LTL 106 million.
As investors' activity persisted, the supply and demand ratio
remained steady, so did the share price level. Other shares on the
Stock Exchange trading lists found their place in investment portfolios
as well. During the month prices of 23 shares went up, and those of
14 shares went down. Share indices increased: LITIN - by 3.9%;
LITIN-10 - by 5.5%; LITIN-G - by 4.8%. Capitalisation of listed
securities augmented as much, while total capitalisation of the Stock
Exchange came very close to the record limit of LTL 18 billion.
At the end of the year there were changes in the trading lists of
the Stock Exchange. Shares of the companies Naujieji Verkiai and
Anyksciu Kvarcas were delisted from the Current List and shares of
the companies Trinyciai, Kelmes Pienine, Naftos Terminalas were
removed from the Tier of Unlisted Securities that are subject to the
central market procedures.
In the fourth quarter, the turnover of securities reached LTL 485
million, 30% of which account for that of shares. In 2003, total turnover
of securities was LTL 45 million lower than in 2002 and amounted to
LTL 1.98 billion. Annual turnover of shares, in which central market
turnover exceeded that of negotiated deals, although amounting to
LTL 594 million, was by 8% lower than that of the year 2002.
