In a recent review of stock performance in the Baltic region, Parex Asset Management reports slow movement in Latvia and Lithuania while trading in Estonia appears to be looking up.
Turnover in Latvia during the first part of August was light and resulted in only EUR 71,100. Though the country reported slow movement on its exchange, the period from July 31 to Aug. 4 marked the second largest weekly turnover of the summer.
The OMX Riga index waffled around 600-point mark, but had difficulty in achieving ground in the territory above 600 points. Most of the stocks suffered over the week, and OMX Riga decreased by 0.65%, to 592.23 points.
In Lithuania, the Vilnius Stock Exchange reported steep downfalls over the same week, its index OMX Vilnius index plummeting 6.33%, to 366.10 points, marking the largest one-week decrease on the VSE since February.
Parex says the Mazeikiu Nafta index was primarily to blame as its shares stumbled by 15%.
In Estonia, however, Tallinn Stock Exchange proved itself to be the only one among Baltic exchanges that could report end of the week trading in positive territory.
Though losers outnumbered gainers by 9 to 6, the OMX Tallinn capitalization index gained 1.02%, ending the week at 631.86 points, because large caps mainly appreciated. Turnover was low for the week, Parex says, amounting to only EUR 3.3 million.