Mondo Visione Worldwide Financial Markets Intelligence

FTSE Mondo Visione Exchanges Index:

National Stock Exchange Of Lithuania Monthly Bulletin - May 2003

Date 05/06/2003

In May, the securities turnover (LTL 188 million) was the highest this year and one of the highest May turnovers in the history of the Exchange. Debt securities subject of solely negotiated deals accounted for 71% of this index and their turnover was by a quarter higher than last month. Share turnover was 3.6 times bigger than in May last year and slightly lower than in April 2003, when it reached the current year's record level. In May, the interest of market participants was attracted mainly by price dynamics and active share trading on the central market (CM), with a record total 5542 transactions.

On the CR investors traded in all shares of the Official and Current Lists (except Panevežio Pienas AB), though most interest was exhibited in alcohol companies placed under privatisation and power distribution networks companies anticipating privatisation. The number of persons expressing interest in those companies has not declined so far. During the month under review, each of them endeavoured to assume best initial standing thus gradually boosting the companies' share prices. The share prices of East Distribution Networks Company and West Distribution Networks Company have exceeded the LTL 1 threshold and have grown by over 24%. The price of Vilniaus Degtine AB shares grew by a third and an 11% growth was recorded by Stumbras AB and Alita AB. The shares of the companies intended for privatisation accounted for one third of the CM turnover. The demand for Snaige AB's shares remained on the same level, with a 17% rise in the share price. The shares of Lietuvos Telekomas AB traditionally accounted for the major portion of the CM turnover (nearly LTL 4 million). Positive operation results, announcement of the establishment of a joint company with 55% of foreign capital, and the intension to take over another company of the Current List, Naujieji Verkiai AB, boosted the price of Grigiškes AB shares by yet other 23%. Also notable is that in May prices of only four companies went down.

From the beginning of 2003 share price indices LITIN-G and LITIN-10 have been on the rise, while index LITIN has been mowing upward from February 2003. Their growth in May was 12,8%, 9%, and 11% respectively. Active involvement of investors caused growth of the CM turnover - turnovers were rising since the beginning of the year amounting in May to LTL 30 million. This is the highest monthly share turnover on the CM in the history of the Stock Exchange. The share turnover on the CM during the current year's first quarter summed up to LTL 32 million making up 40% of the total share turnover, compared with share trades of two months of the second quarter amounting to LTL 53.5 million and accounting for 47% of the total share turnover. Turnover of shares in negotiated deals went down by 40% compared with the data of April, while in other transactions it grew by LTL 2 million, upon execution of the tender offer to buy up the shares of Sanitas AB.

From the beginning of the year, the total securities turnover has summed up to LTL 763 million, which is 7% more than during a corresponding period last year. Share turnover has reached LTL 192 million and that of debt securities has summed up to LTL 570 million, which is by 18% and 4%, respectively, more that in 5 months of 2002.