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Local Weekly Round Up: 17th – 24th November 2006

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The MSE Index registered a 0.88% loss on a week-on-week basis and closed 42.551 points lower at 4,886.589. Twelve equities were active on the stock exchange this week, two of which registered gains while four ended in negative territory. The value traded in the equity market amounted to Lm738,245, in the corporate bond market Lm87,112, while in Government stocks Lm433,256.

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BOV declined by 3.77% on a week-on-week basis to close at the Lm3.50 level; a 13c7 drop. The total number of trades recorded in the equity was 75, equivalent to 26% of all trades in the equity market this week, while the total turnover amounted to Lm274,290. The equity immediately started the week off with a 0c3 decline and dropped another 0c34 on Tuesday to close at Lm3.60. On Wednesday it traded at the same level while on Thursday no trades were recorded. The equity was active once again on Friday to see its share price unexpectedly drop by 10c to close at the Lm3.50 level.

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The other major local bank, HSBC, was the most actively traded equity of the week and accounted for 47% of the total number of trades during the week. 135 trades were performed in all for a total value traded of Lm322,086. On Monday the equity traded at the same level it closed in the previous week – Lm2.01 – to gain 1c on Tuesday and remain trading Lm2.02 on Wednesday. In the following session the equity price edged marginally lower to close at Lm2.019 to lose 0c9 on Friday and close unchanged on a weekly basis. The equities weekly high price was Lm2.02 while the low was Lm2.01.

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Lombard Bank was the week’s top performer as it gained 4.17% to close at Lm5.00. This was the highest price it traded in three months. The equity started the week off positively as it soared by 18c or 3.75% to close just 2c below the Lm5 level. No trades were recorded on Tuesday however it traded three times on Wednesday to register a further share price increase of 2c. On Thursday no activity was recorded while on Friday it registered a single trade of 1,000 shares at the same price to close the week in positive territory.

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Maltacom was the only other gainer of the week as it rose by 1.29%. The share price increased by 1c9 during the week to close at Lm1.495. On Monday, the equity immediately recouped the 2c4 it had lost in Friday’s session to close back at the Lm1.50 level. The price remained trading stable on Tuesday with the equity even recording an intra-day high of Lm1.501 during the session. On Wednesday the share price shed 1c to close at Lm1.49 and maintained this level even in the subsequent session. In Friday’s session the share edged slightly higher by 0c5 to end the week at Lm1.495. A total number of 25 trades were recorded in Maltacom equity this week with 30,033 shares changing hands at a value of Lm45,023. The high and low prices traded at were Lm1.501 and Lm1.49.

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1,344 shares were traded across five deals in Middlesea Insurance this week with the share price dropping 1.90% or 4c in the last session of the week to close at Lm2.06. Activity was low as just one trade of 255 shares was performed until Friday’s session, which proved to be a negative one for Middlesea.

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Datatrak Holdings plc was the worst equity performer of the week as it stumbled by 6.77% in Thursday’s session to close at Lm0.289 across one deal of 2,464 shares. This was the only trade registered in the equity during the week.

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Amongst the negative performers this week there was also Medserv plc. The equity was inactive in the first four sessions. However, in Friday’s session the equity slumped by 4.93% or 6c9 across three trades to close the day and week at Lm1.33.

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Following Friday’s announcement that IHI entered into a Memorandum of Understanding, with each of Corinthia Palace Hotel Company Limited of Malta and Istithmar Hotels FZE, a global hotel investment firm based in Dubai Arab Emirates, the equity registered a gain of Eur0.02 on Monday to close at Eur1.02. The equity was also traded at an intra-day high of Eur1.03 during the session. This 2% gain was however lost in Tuesday’s session as the equity dropped back to the Eur1.00 level. A single trade was registered in each session on Wednesday, Thursday and Friday with the price always closing at the same level of Eur1.00, unchanged on a week-on-week basis.

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Simonds Farsons Cisk ended the week unchanged. The equity traded 3,000 shares across four deals on Monday all at the price of Lm0.80. In the following sessions no other trades were recorded.

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Malta International Airport was also active and remained stable on a week-on-week basis. One trade of 1,000 shares was registered in the last session of the week to remain unchanged at Lm1.335.

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Also unchanged from the previous week was FIMBank, which traded 800 shares across two deals on Thursday, at the price of US$1.70.  

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San Tumas Holdings plc was only active in Wednesday’s session as it traded four times at the price of Lm1.15 to remain fixed at the same level as the previous week’s close.

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