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Local Weekly Round Up: 1st – 7th December 2006

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The MSE Index edges slightly lower by 0.13% in this four-day week with losses mainly in GlobalCapital and Medserv plc. A total of 294 deals were placed on the market for a value traded of Lm1,438,289 out of which Lm347,836 was generated from the equity market and Lm1,090,094 from the bond market. 11 equities were active in all, two of which ended in positive territory while six performed negatively.

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Bank of Valletta registered a marginal gain of 0.03% on a week-on-week basis to close at Lm3.60. The equity share price see-sawed through the week, as it gained 0c1 on Monday, kept constant on Tuesday, to fall back by 0c1 on Wednesday. On Thursday, it however recouped such loss to close the week back at the Lm3.60 level.

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HSBC Bank Malta was the most active equity of the week however it remained stable at Lm1.99 on a weekly basis. The weekly high and low prices registered were Lm1.99 and Lm1.98 respectively.

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Maltacom plc was the second positive performer of the week as the share price increased by 0.67% on Tuesday to keep the same level of Lm1.50 until the end of the week. On Wednesday Maltacom announced that its subsidiary Datastream Limited is to be merged with it. Maltacom plc announced that the merger progress will be initiated with immediate effect, and is part of a high level group restructuring exercise.

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GlobalCapital on the other hand was the worst performer of the week. Trading in this equity was only registered in Wednesday’s session with just 760 shares changing hands across one deal. This trade was done at the price of Lm2.00 which meant a 10c or 4.76% decline on a weekly basis.

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Medserv plc also had a quiet week as it only registered one single trade of 2,000 shares in Thursday’s session. Notwithstanding this, the share price fell by 4c or 2.96% on a week-on-week basis.

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Malta International Airport plc dropped 2c or 1.46% in the first session of the week across three trades which saw 4,300 shares move hands. No other trades in the equity were recorded during the week to close at Lm1.35.

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Simonds Farsons Cisk was another equity to have a few shares trade and see its share price fall. On Wednesday 3,000 shares were traded across one transaction to see its price fall by 1c or 1.25% and close at the Lm0.79 level.

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Minor losses were also recorded in Lombard Bank and International Hotel Investments plc. Lombard Bank edged marginally lower by 0.39% to see its share price close at Lm5.10 while IHI plc lost Eur0.001 to close 0.1% lower at Eur0.999.

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Datatrak holdings plc and Plaza Centre were amongst the active eqiuites however none of these registered any changes. The prices closed the week stable at Lm0.26 and Lm0.68 respectively.

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In addition, earlier during the week AX Investments plc announced it is issuing a new 10-year bond at a coupon of 6.7% per annum. The opening day for subscription is on 11th December while the closing of subscription is on the 15th December 2006. To receive a copy of the prospectus or for any other queries please do not hesitate to contact us at our offices.

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