|WEEK 19th 2003
Friday 9th of May, 2003
Inflation on the lowest level in history
According to the statistics board, consumer price index decreased in April down to 1.3%, which is the lowest level in history and is below the level of Euro zone. Compared to March, the prices of goods and services decreased by 0.2%.
Turnover of Merko construction to increase by 60%
First-quarter turnover of Merko Ehitus Group, Estonia's largest construction group, went up 59 % in a year. The turnover in the first quarter was EEK 467 million. A year ago its Q1 turnover was EEK 293.7 million. Group's quarterly profit went up from EEK 18.8 million in 2002 to EEK 28.2 million in Q1 2003.
Wednesday 7th of May, 2003
Hansa closed on the level of EEK 270
Yesterday, the share of Hansapank closed on the level of EEK 270.06, which is 0.29% higher than a day before yesterday. Trading activity of Hansapank has increased as well. Turnover of the leading share was EEK 23.8 million, which is the biggest turnover since April 15. The number of transactions (76) was the greatest since February 14.
Editorial: Estonian economic growth to accelerate despite of foreign markets
Business daily Äripäev still prognosticates 8% of economic growth to Estonia this year. Äripäev brings out the factors that influence positive growth of economy. In January, export increased by 17.8% and in March by 7.5%, which means that the trend of export is positive. Several foreign investments made in Estonia indicate an improvement of export in the future. Low credit interests and favourable tax environment increase the amount of investments. In addition, Estonia will receive single purposed aid from European Union.
Hansa Capital group quarter profit was EEK 189 million
Total assets of Hansa Capital group increased by EUR 55.1 million up to EUR 1.604 billion or EEK 25.1 billion during the first three months of the year. Net profit of the group was EUR 12.1 or EEK 189 million. 70.8% of net profit was earned in Estonia, 13,9% in Lithuania, 11.8% in Latvia, 2.2% in Russia and 1.2% in Ukraine.
Tuesday 6th of May, 2003
Hansa share has increased by EEK 22 in four days
Yesterday, Hansapank share closed on a record high level EEK 269.28. During the day, the share increased even up to EEK 272.25. Together, the leading share of Baltic States has increased by EEK 22.06 or by 9% in four days. Trading with Hansapank share was active 61 transactions, which turnover was EEK 11.5 million.
Export increased by fifth in a month
Positive changes occurred in foreign trade in March, announced the ministry of economics and communications. Export increased by 18% compared to February, and exceeded the growth of import by 3%. Both normal and subcontract export, being accordingly 16% and 20% bigger than last month, supported the strong export increase.
Monday 5th of May, 2003
Hansapank made a price record
On Friday, the closing price of Hansapank share increased by EEK 7 and reached the price of EEK 261.92 for the first time in history. In addition, Fitch Ratings increased Hansapank's rating of financial strength to the level of B/C, expressing bank's good profitability and quality of assets, conservative risk politics and successful integration of Lithuanian Deposit Bank. Ühispank's analysts expect Hansapank share to increase up to EEK 274 (EUR 17.5) by the end of the year.
Economic growth will be better than expected
According to analysts, Estonian economic growth of the first quarter will be better than earlier economic prognosis, reaching up to 7%. Industry increased by 10.8% in the beginning of the year. Sales in trade have increased by tenth. Construction will continue to grow fast. Hansabank Markets expects first quarter economic growth to be 7%. Ühispank and Suprema expect 5.5% of economic growth.
Third of state budget accomplished
In four months, EEK 12.5 billion or 32.53% of planned income have returned to the state budget. Last year, 30% of planned income had arrived to the state budget in four months.
Baltic Weekly MonitorA