Local Weekly Round-Up: 29th December 2006 – 5th Janaury 2007

Local Weekly Round Up: 29th December 2006 — 5th January 2007

The MSE Index lost 2.38% this week and closed 116 points lower at the level of 4,873.47. Seven equities ended in negative territory while only the equity of Malta International Airport managed to register a gain.


The banking sector had a bad week with HSBC, BOV and Lombard all registering losses. Lombard was the week’s worst equity performer as it dropped 8.85%. HSBC closed 5c lower from last week’s closing price thus ending 2.63% lower. BOV lost 10c over the week, a decline equivalent to 2.70%.

Furthermore, Maltacom plc lost 2.68% with its losses incurred in Thursday and Friday’s sessions. Middlesea Insurance also closed lower this week with its share price declining by 1.52%. During the week Middlesea Insurance also announced that it subscribed for its 89.98% of the issued share capital equivalent to EUR3,599,200 consisting of shares of a nominal value of EUR0.01 each fully paid up from an issue of EUR4,000,000 of nominal value in Progress Assicurazioni SpA. These shares were allotted on 29th December 2006 to existing shareholders on a pro-rata basis. The Company has thus retained its shareholding in this unlisted Italian Company at the 89.98% level previously held.


The other equities to perform negatively were Datatrak holdings plc and International Hotel Investments plc which shed 0.40% and 0.50% respectively, in the last session of the week.

On the other hand, Malta International Airport plc was the only equity to perform positively. It gained 0c5 in each of the last two sessions to close the week just 1c or 0.73% higher.


The other equities such as those of FIMBank plc, Medserv plc and Simonds Farsons Cisk plc were also active during the week however these closed unchanged.