Local Weekly Round up 8th June – 14th June 2005

Malta Stock Exchange – Weekly Round Up   For the period 8th June, 2005 to 14th June, 2005   By Jesmond Mizzi Chairman –Jesmond Mizzi Financial Services     The MSE index decreased by 0.59%   Best performer for the week was Lombard Bank – the only gainer for the week.       The Malta Stock Exchange index decreased by 20.011 basis points to close at 3362.256. The MSE index decreased by 0.59% on a week on week basis, whereas year to date performance, the index is up 9.56%.   The total equity volume for the week was 194,210 nominal shares which exchanged hands in a total of 98 transactions.  The total value in the equity market for the week was Lm433,306.    Once again, the possibility of mixed feelings in the banking sector as well as investors further consolidating their profits is what could have resulted in this week’s trading on HSBC, BOV, Lombard Bank and FIMBank.  As a matter of fact, the best performer of the week as well as the only gainer of the week was Lombard Bank increasing a week on week by 0.98%, an increase of 5c0 in its share price to close at Lm5.15.  This was achieved in a total of 2 deals with somewhat more 15,000 shares exchanging nominal hands.  HSBC Bank Malta plc and Bank of Valletta plc fell in their share price throughout the week by 0.82% and 0.41% respectively.  As at year to date, HSBC is at a gain of 21.21% whereas BOV is at a gain of 7.35%.  Bank of Valletta saw a total of 10,869 shares exchanging hands in a total of 20 deals whereas HSBC saw a total of 21,209 nominal shares being traded in 29 deals.  HSBC closed at the price of Lm4.81 and Bank of Valletta at Lm4.82.  On the other hand, FIMBank (Lm1.210) kept its prices at level throughout the last five trading days.  As at year to date FIMBank stands at 22.84%. FIMBank saw a total of 90,000 shares exchanging hands throughout the last five trading days.   International Hotels Investments plc and Maltacom plc were the only other two shares that closed in negative territory throughout the last five trading days.  As at week on week, IHI plc stands at a loss of 1.25% whereas Maltacom plc stands at a loss of 1.08%.  Although IHI closed yesterday at the price of 79c0, it traded as low as 78c0 throughout the week. On the other hand, Maltacom plc traded as low as Lm1.375 and as high as Lm1.40 throughout the week, and closed yesterday’s trading at the lowest price of Lm1.375.  Maltacom plc saw a total of 11 deals with approximately 11,000 shares exchanging hands whereas IHI saw a total of 7 deals with 11,481 shares being traded.   Together with FIMBank, Middlesea Insurance plc, Malta International Airport plc and Simonds Farsons Cisk traded throughout the week with the price still closing at levels in yesterday’s trading on the local bourse.  MSI closed at the price of Lm3.30 with the share trading only once throughout the week and a total of 10,7000 shares exchanging hands.  As at year to date, MSI still stands as the best performer for another week as at year to date of 32.00%.  Malta International Airport saw a total of 16 deals transacting a total of 22,866 shares.  As at year to date, MIA stands at a gain of 16.81%.  The lowest price MIA traded throughout the week was that of Lm1.31.  On the other hand, Simonds Farsons Cisk traded and closed at the level price of Lm1.00 in a total of 1,030 shares.  As at year to date, SFC stands in negative territory of 10.71%.   Global Financial Services Group, Plaza Centres, Suncrest Hotels, Datarak and San Tumas Shareholding equities saw no trades throughout the week.  As at year to date, Plaza Centres and Suncrest stand in positive territory of 5.69% and 6.99% respectively whereas GFSG and Datatrak stands in negative territory of 16.25% and 16.10% respectively.  On the other hand, San Tumas Shareholding equities are at level even as at year to date.   A total value of Lm688,120 was traded in Malta Government Stock whilst trading in Corporate Bonds amounted to a value of Lm58,140.  In the fixed interest market we saw a total of 74 deals summing up 690,700 nominal shares exchanging hands.      Company Announcements   International Hotel Investments plc   International Hotel Investments plc held its Fifth Annual General meeting on 8th June 2005 when the shareholders approved all the resolutions on the agenda.   Hotels San Antonio plc   Hotels San Antonio approved its Income Statement on the 8th of June 2005 as at 31st December 2004.   Operating profit before depreciation and finance charges increased by 69,547 from Lm694,470 (2003) to Lm764,017.  Cash flow from operations increased from Lm661,970 (2003) to Lm816,913 (2004).  The company incurred a loss before taxation of Lm189,367 as compared to a loss before tax of Lm236,174 in the previous year, an improvement of Lm46,807.   Middlesea Insurance plc   MSI plc announced on the 14th of June 2005 that the company is authorised to acquire a number of its own shares subject to the limitations and conditions set out in the Companies Act 1995 including in particular: –          The maximum number of its own shares that the Company is authorised to acquire is 1,250,000 ordinary shares. –          The authorisation hereby given to the Company expires at the end of the next AGM or on the 18th December 2006 whichever is earlier. –          The consideration, which the Company is authorised to pay with respect to each of such shares, shall not be less than one lira and sixteen cents (Lm1.16) per share and not more than three liri and forty-eight cents (Lm3.48) per share.        For further information please call at our offices on 21224410 or email [email protected].  This article does not intend to give investment advice and the contents therein should not be construed as such. Readers are encouraged to seek professional advice regarding their personal financial situation. The value of investments can go down as well as up.  Past performance is no guarantee for future performance. Jesmond Mizzi Financial Services Limited is licensed to conduct investment services by the Malta Financial Services Authority.