Local Weekly Round Up: 19th-26th January 2007

Local Weekly Round Up: 19th — 26th January 2007

The MSE Index gained 0.38% on a weekly basis. Ten equities were active in all with the number of transactions in the equity market amounting to 152. The total volume of shares traded were 175,853 with the value traded being Lm247,523. With regards to the corporate bond market 30 transactions were performed for a value of Lm51,449, while 48 transactions were executed in Malta Government stocks for a value of over Lm1.075 million.


Five equities closed in positive territory on a week-on-week basis while four closed in the red. International Hotel Investments was the week’s top equity performer as it gained 2.71% to close just below the Eur1.10 level at Eur1.099. Maltacom added 2.07% across 16 transactions while Simonds Farsons Cisk gained 2.5% to close at Lm0.82. Marginal gains were also registered in Bank of Valletta which edged slightly higher by 0.27% and Medserv which saw its share price rise by 0.74%.

On the other hand, Datatrak holdings was the worst performer of the week as it touched its lowest level in the last year and a half; that of Lm0.245 which represents a weekly decline of 2%. Malta International Airport was down 1.07% on a weekly basis while Plaza lost 0.57%. A minor drop of 0.05% was also registered in HSBC Bank Malta shares as its price lost 0c1 over the week.

On Thursday, the Central Bank of Malta raised the central intervention rate by 25 basis points to 4.00%. The decision was taken by the Governor at the end of the Monetary Policy Advisory Council meeting in the morning.

Meanwhile, HSBC Bank Malta has announced the allocation policy for the Lm20 million bond issue, offered in both liri and euros, which was over-subscribed within hours of the opening of subscriptions. The bank has exercised the over-allotment option of a further Lm5 million, bringing the total bond issue to Lm25 million. Public offer applications up to a value of Lm3,000 on the lira bond and €5,000 on the euro denominated bond will be accepted in full. In the case of applications over Lm3,000, the first Lm3,000 will be met in full, while 36.45 per cent of the remaining amount will be met. In the case of applications over €5,000, the first €5,000 will be met in full, while 26.6 per cent of the remaining amount will be met.