Riga - The three small Baltic stock exchanges stayed in positive territory Wednesday, with some excitement sparked by news of a takeover of a Lithuanian ceramic tile manufacturer.

Trading in the company, Dvarcioniu Keramika, was temporarily suspended after its price soared on the back of news that majority shareholder Cersanit, a Polish maker of bathroom furniture, would implement a mandatory takeover.

At the end of the day, Dvarcioniu Keramika shares had gained more than 26 per cent in value.

The NASDAQ OMX Tallinn exchange was up 0.43 per cent, Vilnius was up 1.77 per cent, and Riga enjoyed a 3.57 per cent rise.

The Baltic Benchmark Index (BBI) which includes data from all three exchanges, closed up 1.49 per cent, at 277.93. (dpa)