Extract from the 1998 guide to central and eastern European equities
Despite the negative effects of the financial turmoil in emerging markets as a result of the economic meltdown in Asia, the Tallinn Stock Exchange (TSE) still enjoyed a successful year in 1997.
Boosted by Estonia’s impressive economic performance, which earned the country Baa1 and BBB+ ratings from Moody’s Investors Service and Standard&Poor’s respectively, in 1997 the TSE’s headline TALSE index recorded a 65% increase for the year in both local currency and Deutschmark terms, closing on December 31 1997 at 265.35,
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