Local Weekly Roundup 28Feb-03March 2006
The MSE index rose by 5.5% on a span of a week reaching the current level of 6184.635 on Friday. Following Tuesday’s company announcements, Global Financial Services Group registered the highest gains as its price rose by 15.23% over this week and closed on Friday at a price of Lm1.49c8. The Board of Directors are expected to meet on Friday 24th March 2006 in order to consider the Financial Statements of the Company for the financial year ended 31 December 2006 and to decide on the recommendation of a dividend to its shareholders. Lombard Bank equity also registered strong gains of 12.44% closing at a historical high of Lm 11.75c as investors reacted positively to this week’s announcements. Strong demand for HSBC shares persisted during this week since the price climbed by 10.70% as investors are still entitled to the 3 for 1 bonus share issue till the 18th of April 2006. The price closed on Friday at Lm10.85c. BOV share price was volatile during this week registering an overall rise of 4.97%. Throughout this whole week Maltacom share price was on the rise and recorded a total increase of 7.58% closing at a price of Lm2.13c. Midddlesea Insurance recorded high gains of 11.60%. MIA gained 6.67% as a result of the announcement that VIE (Malta) Ltd acquired a 10.1% shareholding in the company. As opposed to last week, FIM Bank suffered most of the losses this week since its price fell by 12.21% as from Tuesday the shares were being traded ex-div and ex- 1 for 5 bounus share issue. Other losses where incurred by Simonds Farsons Cisk (2.14%), IHI (1.10%) and Plaza Centre shares(0.15%).