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Indices: / OMXR 0.00% / OMXV 0.00% / OMXT 0.00% / OMXS30 0.00% / OMXH25 0.00% / MICEX 0.00% Stocks: VTBR 0.00% / OMXV 0.00% / OMXR 0.00% / EEH1T 0.00% / GAZP 0.00% / VTBR 0.00% / OMXV 0.00% / OMXR 0.00% / EEH1T 0.00% / GAZP 0.00% Porfolios: StraterS 0.00% / koncik 0.00% / Laime 0.00% / Life 0.00% / RIX 0.00%
Latvian Stock Market Overview 29/01/2007 – 02/02/2007
This week was more active that the previous one. The turnover in the Baltic main list increased by 35% and reached heights of EUR 6 221 852, however the turnover in the Baltic I – list decreased by a small amount of 9% and was EUR 221 153, yet the upward trends of both turnovers are still holding and also there are no significant evidence that investors would lose trust in this market. Similarly, both BALTIX and OMXR indices experienced an increase of 2,81% and 0,41% respectively. This difference can be explained by the significantly better performance in other markets, which index BALTIX takes account for, yet that should not be reason for fund withdrawal, because Riga market as a whole has shown steady growth last time. Nevertheless, during this week there were 1 fall, 3 rises and 2 unchanged positions in the Main List, and 3 falls, 2 rises in the I – List. In the I – List fall was experienced by Liepajas Metalurgs (LME1R) of 2% and largest rise by Rigas Kugu Buvetava (RKB1R). In the Main list largest rise of 3% was experienced by Ventspils Nafta (VNF1R)and the largest fall of 1% was experienced by SAF Tehnika (SAF1R).
The largest increase in this week of 5% was experienced by Rigas Kugu Buvetava (RKB1R), which showed a steady increase after 31st January. However there are no sufficient evidence or news release that could base this price increase, yet as volume has increased from the previous week by 80%, it should be assumed that either there is no information published by this enterprise, either this increase is purely technical matter (which could be reasonable due to its magnitude) or formation of unreasonable expectations for this company. Thus our advice is to act cautiously.
The largest fall in this week of 2% (to EUR 3,43) was experienced by the Liepajas Metalurgs (LME1R). This decrease also was not formed on any new information but can be explained by the lack of information concerning the possible LME1R development and new investment project plans. Therefore, investors feel lack of confidence in these shares, nevertheless, it should be explained that such projects cannot be undertaken in a very short time span, thus it is only reasonable to experience some short term fluctuations, yet it is virtually impossible to tell about the long term plans for this enterprise concerning its plans. Thus our advice is to act cautiously.
Last week’s largest raise (13%) for Grindeks (GRD1R) was followed by a nominal increase of 2%, yet on the 2nd of February the board was changed and it is not possible to predict the future plans of Grindeks nor board decisions and performance. Thus our advice is to act cautiously.
By Nataļja Avramenko
Aleksandrs Graholskis
Juris Rumba
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