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Local Weekly Round Up: 26th Jan — 2nd Feb 2007

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The MSE Index dropped 0.78% on a weekly basis. Thirteen equities were active, six of which ended in negative territory while four registered gains. The top gainer of the week was International Hotel Investments while GlobalCapital was the worst performer. 164 transactions were performed in the regular equity market with volume traded amounting to 308,466 for a total turnover of Lm343,626. Activity in the corporate bond market stood at 58,100 for a value of Lm41,517, Lm690,240 was the value traded in government stocks this week.

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The top gainer of the week was International Hotel Investments (“IHI”) which share price gained 3.73%. Activity was strong in the equity as 145,229 shares changed hands across 30 transactions. During the week, the Company held an Extraordinary General Meeting in which the shareholders approved all the resolutions on the Agenda, in particular the bonus issue of one share for every six held.

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Medserv also had a positive week as it gained 2.19% across 12 transactions with 19,900 shares being traded. The other equities to register gains were FIMBank and Plaza Centre whose share prices rose by 0.58% and 1.28% respectively.

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On the other hand, GlobalCapital was the week’s worst performer as it lost 3.37% in Monday’s session, across two transactions to close at the price of Lm2.125. The four subsequent transactions performed in the following sessions, were all executed at this same price, thus leaving the equity in negative grounds on a weekly basis.

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HSBC Bank Malta was the most actively traded equity however it share price declined by 1.38% on a week-on-week basis. Activity was relatively thin when compared to other weeks as 39,523 shares were traded in all. Similarly, trading in Bank of Valletta shares was quite low with just 18,615 shares changing hands across 34 transactions. The equity shed 0.79% on a week basis.

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Maltacom also closed lower as its share price dropped 1.35% in Thursday’s session. This was attained across 9 transactions with just 6,200 shares being traded. The other two equities to close in negative territory were Middlesea Insurance and Malta International Airport with the share dropping 0.98% and 0.36% respectively.

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Datatrak Holdings registered two trades during the week, however it closed unchanged as the 0c5 gain registered on Wednesday was lost in the following session. On Friday 2nd February, it was announced that Datatrak IT Services Ltd, a subsidiary of Datatrak Holdings Ltd, has partnered with Medcomms Ltd, the exclusive distributor of the satellite navigation system GARMIN, to offer Malta based maps for satellite navigation, using GARMIN’s GPS technology, to the Maltese driver’s community and tourists. This satellite navigation system will be utilising Datatrak’s extensive range of mapping products and services. The satellite navigation for driving in Malta and Gozo is expected to be available as from the 28th March 2007.

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Lombard Bank and Simonds Farsons Cisk also registered a couple of trades during the week however they closed stable on a weekly basis.

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