Flat week on Riga bourse

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The Baltic blue chips index OMX Baltic Benchmark GI (OMXBBGI) increased 2.25 percent over the week to 663.39 points and the total weekly turnover rose 36.6 percent to 3.76 million euros, reported the BNS newswire Saturday.

The Estonian ferry operator Tallink Grupp was the biggest gainer on the Baltic main lists for the second week in a row. Tallink Grupp charged ahead by 7.33 percent in the outgoing week to 0.849 euros.

The Lithuanian energy company Lietuvos Energijos Gamyba jumped 6.06 percent to 0.84 euros, and the Estonian wood-processing company Skano Group climbed 6.05 percent to 0.859 euros.

The Latvian telecommunications equipment maker SAF Tehnika suffered the biggest loss, slipping down 1.96 percent to 3 euros.

In Latvia, trading was calm over the week with Riga's OMXR capitalization index adding just 0.11 percent over the week to close on 443.48 points, while the total turnover rose 61.4 percent from the week before, reaching 138,200 euros - still extremely modest by international standards.

Janis Springis, a representative of Swedbank Latvia, told BNS: "Summertime trends prevailed. Trading activity was not particularly high, and the index remained practically unchanged.”

The SAF Tehnika telecommunications equipment maker was the most actively traded stock on the Riga stock exchange in the outgoing week with 48,600 euros in weekly trade but the stock price slipped down 1.96 percent to close the week at 3 euros per share.

Springis noted that this week SAF Tehnika had published its annual results for the fiscal year that had lasted from July 1, 2014 to June 30, 2015, showing that the company’s turnover in the last quarter of the fiscal year had been 3.22 million euros, down 6.9 percent year-on-year, and its profit had decreased 2.6 times to 276,600 euros.

Olainfarm pharmaceutical company with 38,200 euros was the second most actively traded stock on the Riga bourse in the outgoing week, and its price gained 2.17 percent over the week to 8.02 euros.

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