Baltic markets still shaky, but investors starting to return

The NASDAQ OMX Tallinn exchange in Estonia suffered the biggest hit of the day, down 4.67 per cent. The Vilnius exchange in Lithuania was down 1.73 per cent. Meanwhile, Riga dipped just 0.75 per cent, despite the suffering of three of the larger listed Latvian companies.

Drinks maker Latvijas Balzams, steel producer Liepajas Metalurgs and pharmaceuticals manufacturer Rigas Farmaceitiska Fabrika all suffered double-digit falls in their share prices. The Baltic Benchmark Index (BBI), which includes data from all three exchanges, closed down 3.88 per cent, at 299.17, repeating a similar fall from the day before.

It is the first time the BBI has dipped below the 300 mark since February 2004. Indars Ascuks, head of development at NASDAQ OMX Baltic markets told Deutsche Presse-Agentur dpa: "Crossing the 300-point mark today does not have a strong psychological effect because investors in the Baltics have witnessed high volatility and price fluctuations for a year already." Ascuks added that, although trading activity has decreased in recent months, there are some signs that turnover is starting to rise again.

Some financial institutions report that they see investors returning," Ascuks said.

Source http://topnews.in/baltic-markets-still-shaky-investors-start~

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