Local Weekly Roundup – 28th September – 4th October 2005

Stock Exchange – Weekly Round Up   For the period 28th September 2005 to 4th October, 2005   By Jesmond Mizzi Chairman –Jesmond Mizzi Financial Services     The MSE Index  – all time high as at year to date. (+4.55%)    Lombard Bank has once again peaked its all time high.   FIMBank plc remains the best performer as at year to date.   Government of Malta sold 7.17% of its shareholding in Middlesea Insurance The Malta Stock Exchange saw a change from last week’s trend over the period under review, as the index closed in positive territories throughout its trading period. The MSE index rose by 147 basis points (+4.55%) over the last five trading days and is now up 32.34% since the beginning of the year.  The MSE Index closed at 4031.463 yesterday. The MSE Index has reached its highest peak as at year to date.    The reason of the change from last week’s trend over this period’s trading on the Malta Stock Exchange has developed by the continuous positive performance in almost all the traded equities, mainly, Lombard, Maltacom, HSBC, BOV, FIMBank and Middlesea Insurance.   The banking sector on the local market has acted positively throughout the period.  Lombard Bank has once again reached a new all time high at the Lm7.00 level (+27c0).  HSBC has reached the Lm6.41 level throughout the last five trading days.  HSBC was hovering round the Lm6.22 level, but took a positive outburst during yesterday’s trading when it closed 19c0 higher.  BOV was also in positive territory throughout the week when it closed at Lm5.60 during yesterday’s trading; an increase of 11c5 throughout the period.  FIMBank, which is so far the best performer as at year to date (77.66%), was also in positive territories as its share price rose by a total of $0.15 throughout the last five days.  FIMBank was the highest traded equity in terms of nominal shares (103,380 shares) whereas Bank of Valletta was the equity to see the highest number of deals throughout the period (131 deals).   Maltacom plc was also active during the last five trading sessions where we saw the share price deal as high as Lm 1.598 and as low as Lm1.45.  Throughout yesterday’s session, we saw Maltacom share price close at Lm1.589; 13c9 higher when compared to last week’s closing price.  Maltacom’s share price rose by 9.59% as at week on week and now stands at a 5.93% increase as at year to date.  Maltacom saw a total of 89 deals summing up a total of approximately 100,000 nominal shares.   Datatrak and International Hotels Investments were also two very good gainers for the week.  Datatrak was the highest gainer as at week on week (+16.05%).  Datatrak’s share price rose by 4c8 to close at 34c7.  Such an increase was only achieved through a total of 6 deals exchanging 9,500 nominal shares.  On the other hand, IHI was quite stable throughout the week.  IHI traded on Wednesday 28th September and Tuesday 4th October.  Although on Wednesday the equity price closed stable, during yesterday’s trading, the share price rose by a total of 4c9 and thus incinerated a week on week increase of 7%.  As at year to date, IHI still stands in negative territory of -0.13%.   After publishing its interim results last week, Middlesea Insurance was a highly demanded equity with a total of 101,891 nominal shares exchanging hands.  The equity share price rose by a total of 15c5 and now stands at Lm3.255.  As at week on week, MSI rose by a total of 5% whereas as at year to date, MSI stand in positive territory at 30.20%.   Plaza Centres was also a gainer throughout the period with a total increase of 2c0.  Plaza Centres closed at 62c0 yesterday.  Such an increased was achieved by 4,200 nominal shares exchanged in 3 deals.  As at week on week, Plaza Centres rose by 3.33%.   Global Financial Services Group was the only equity which saw a small decline in its equity price throughout the last five trading days.  GFSG’s share price fell by 1c5 – a week on week fall of 1.15%.  Such a changed was caused through 2 deals summing a total of 2,120 shares.   Malta International Airport and Simonds Farsons Cisk were traded but kept their prices at level. MIA saw a total of 31 deals exchanging 49,085 nominal shares whereas SFC saw a total of 5 deals exchanging 2,750 nominal shares.  MIA stands at Lm1.40 whereas SFC stands at 85c0.   There were no trades throughout the week for San Tumas Shareholding  and Suncrest Hotels.  San Tumas Shareholding’s price stands at Lm1.00 whereas that of Suncrest Hotels stands at 35c5.   Trading in the bond market consisted of a total of 127 deals of a total volume of over 905,800 nominal shares, whereas trading in the equity market saw a total of 563,507 shares being traded in a total of 381 deals.  The total value dealt in equities was Lm1,438,860 whereas that dealt in the corporate bond market was that of Lm84,149.  MGS totalled a value of Lm886,779.   Company Announcements   Maltacom p.l.c.   On the 29th of September, Maltacom p.l.c. announced that it had been informed by the Privatisation Unit that the Government of Malta has undertaken the first phase of a selection process on the basis of indicative non-binding bids for its 60 per cent shareholding in Maltacom p.l.c.  Following this initial selection process the Government of Malta has short-listed a number of bidders. Each of the selected bidders will now be expected to undertake its own due diligence exercise on the company.   Maltacom p.l.c. later announced that it has appointed Rothschild Spa as its adviser in connection with the sale by the Government of Malta of its shareholding in Maltacom plc.   Middlesea Insurance p.l.c.   Middlesea Insurance (‘The Company’) has been informed that a trade took place on the the Malta Stock Exchange on the 30th of September, where the Government of Malta sold 7.17% of its shareholding in the Company to Munchener Ruckversicherungs Gesellschaft who have thereby increased their existing shareholding from 12.73% to 19.99%.  These trades were all executed at a price of Km3.00 per share.  The Government of Malta now holds a balance of 0.76% shareholding of the Company.   Wignacourt Funds SICAV The fifth Annual General Meeting of the Wignacourt Funds SICAV p.l.c. is to be held at the Chameleon Suite, Corinthia Palace Hotel on Tuesday, 18 October 2005 at 6.00pm.       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, its directors, the author of this report, other employees or clients of the company may have or have had an interest in the securities mentioned herein. Jesmond Mizzi Financial Services Limited is licensed to conduct investment services by the Malta Financial Services Authority.