Tallinn Stock Exchange Turnover at Record Low

12/31/2012 11:43 AM
Category: Economy

The NASDAQ OMX Tallinn enjoyed a strong year but turnover in 2012 was at record low since its inauguration in 1996.

The OMX Tallinn index saw an 38 percent increase in 2012, reaching 734 points – a colossal advance compared to the 24 percent decrease in 2011. The overall turnover dropped from 190 million euros last year to only 140 million this year, according to Postimees.

The Tallinn Stock Exchange registered its highest turnover ever in 2005 with 1.9 billion euros.

Alo Vallikivi, head of the Stockbroking Department at LHV Bank, said that the main reason is the passivity of big institutional players such as pension and investment funds and hedge funds.

The decline in trading volume is a worldwide trend, according to Vallikivi.

The year's biggest gainers were fashion retailer Baltika rising 91 percent, Olympic Entertainment Group with a 68 percent increase and construction giant Järvevana AS with 64 percent.


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