Thu, 19 Nov 1998: Stock markets: weekly report (November 10 – 16)…



At the same time it is also clear that Unibanka's management decided to cover themselves by creating huge provisions and the actual losses may be considerably less.Unibanka's share price might continue to decline, however. Foreign investors may not have had time to react to the news on Friday Nov. 13 and may move to sell their shares this week. The bank has created reserves for loans going bad due to the Russian crisis, but as they do go sour over the next few months it will create lots of bad news to further rattle investors.It also can't be excluded that the announcement of such a large loss at one of the Baltic's biggest banks might trigger a wider negative reaction against the market, which in the worst case could affect the stability o... Read the rest of this entry »

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