First Quarter Report (January -March 2006)

During the first quarter of 2006 the MSE share index climbed by 30.97% as it closed the session on the 30th of March at a level of 6508.656.  The grand total number of trades and the value of turnover which was recorded in the equity market during these past three months portrayed a significant increase in the level of liquidity.  In fact 13,426 deals were carried out reflecting a total market value of Lm39.9 million.  The leading equity for this period was Global Financial Services Group registering a 52.67% rise as it began to generate strong gains mostly during the past month before and after the publication of the positive results generated during 2005 and its declaration of a final dividend.  Middlesea Insurance also performed positively recording a 45.23% increase in its share price where within this period the company recorded an all-time high level of Lm5.35c.  HSBC Bank Malta p.l.c also reached a record level of Lm11.80 and registered overall gains of 42.50%.  Other listed equities as well recorded considerable gains such as Bank of Valletta (32.1%), Lombard Bank Malta (30%), Maltacom (19.57%) and FIM Bank (6.97%). Negative performances were recorded by Simonds Farsons Cisk, IHI and Datatrak equities dropping by 2.30%, 5.23% and 3.87% respectively. Plaza Centres shares maintained the same share price of 0.68c.