Baltic markets close down

A generally poor week on the Baltic stock markets ended Friday with both the main Baltic Benchmark Index (BBI) and the individual Riga Index down.

 

The BBI finished the week down 0.51% on 602.62 while Riga under-performed even that mark by falling 1.41% on the week to close on 439.14.

There was good news from Valmiera Glass Group however when the company revealed in a market announcement it had enjoyed a profitable first six months of the year, reaching a consolidated net profit of €3.94m - 54% more than in the first six months of 2013. 

The company's share price rose by nearly 65% in the first half of the year and the maker of fiberglass products exported to 38 countries worldwide.

Earlier in the week LSM reported on Valmiera Glass' plans to open a new US plant in early 2015.

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