Local Weekly Round-up 17th – 21st April

For five sessions in a row, the Local Equity Market performed a downward trend during this week where the MSE index went down by 7.69% but still up 20.99% this year. Following the listing of bonus shares, a substantial selling activity was evident for HSBC equity resulting in a registered overall loss of 14.33%.  A strong trading activity was also recorded as a total of just over 1,003,000 shares were exchanged across 4,473 deals.  After toughing a weekly high of Lm3.00 the share settled on Friday at a level of Lm2.57c.     Profit taking also took place in BOV shares which registered continual losses throughout the whole week contributing to a weekly loss of 5.50%.  This week the bank announced that it  will be holding a Board meeting on Thursday the 27th of April where the Board of Directors is expected to discuss the Group’s and Bank’s interim financial statements for the half-year ended 31st March 2006 and also consider the declaration of an interim dividend.   Both Maltacom and GFSG turned ex-div this week.  As for Maltacom shares after the ex-div date investors reduced their bids and as a result an overall loss of 2.15% was recorded.  Whereas for GFSG, despite trading ex-div, on Thursday’s session the share price rose to 2.11c9 and closed the week at that same level registering a weekly gain of 5.95%. IHI also recorded substantial gains of 4.65% where the price closed on Friday at 0.90c.  The Full-year results of IHI and also Simonds Farsons Cisk are due to be published on Wednesday the 26th of April. The Board of Directors of Middlesea Insurance p.l.c. are also to meet on Friday the 28th of April in order to announce their financial full-year results for the year ended 31 December 2005 and consider the declaration of a dividend.  Meanwhile the company’s share price rose by 0.98% during this week. MIA was another gainer for this week reporting an increase of 1.75%.