Middlesea Insurance shares gain 1.5% as the MSE Index sheds 0.39%

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The Malta Stock Exchange (“MSE”) Index shed 0.39% over the week with activity remaining low. Eleven equities were traded in all with gains in Middlesea Insurance (“MSI”), Malta International Airport (“MIA”) and International Hotel Investments (“IHI”) shares being mainly wiped out by losses in the local banking sector. 193 transactions were recorded in the equity market with volume standing at 437,739, for a turnover of only Lm446,142.

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The week’s top equity performer was MSI as it gained 1.54% to close 3c higher at the level of Lm1.98. This was attained across three transactions which saw a mere 942 shares change hands. MIA shares also ended in positive territory gaining 0.72% to close at Lm1.39. This was however also achieved on minimal trades as 1,000 shares traded across two transactions.

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A 0.43% increase in IHI shares pushed the equity back up to the Eur1.17 level. Activity was strong with 141,111 shares being traded over eighteen transactions. The week’s daily high and low prices traded at stood a Eur1.17 and Eur1.16.

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The local banking sector however pushed the local bourse into negative territory as HSBC Bank Malta (“HSBC”), Bank of Valletta (“BOV”) and Lombard Bank (“LOM”) all registered losses.

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Just below 75,000 shares changed hands in HSBC with the price losing 2c to close 0.52% lower on a week-on-week basis. The equity closed at Lm1.90. BOV shed 0.56% with 21,534 shares being traded to close below the Lm3.60 level, at the price of Lm3.58. A single transaction of 1,000 shares at Lm4.95 was also recorded in the last session of the week in LOM. This represented a 5c or 1% drop in its share price from last week’s closing price.            

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Within the same sector, early during the week FIMBank announced the attribution price for calculation of the scrip dividend, which was established at US$1.55. Activity was strong in the equity with 156,185 shares changing hands across 22 transactions. Notwithstanding this, the share price closed unchanged on a weekly basis at US$1.875.

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Grand Harbour Marina was the week’s worst equity performer as its share price declined by 2.8% to close at Lm0.70. This was however attained over a single transaction of 1,000 shares in the last session of the week. Moreover, Maltacom slipped by 1% as its share price dropped 1c4 to close at Lm1.396. Nearly 38,000 shares were traded in all during the week, across 27 transactions.

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Plaza Centre was amongst the active equities this week as 800 shares were traded over one transaction with the share price remaining stable at Lm0.71. Plaza also announced that its Board of Directors are scheduled to meet on Tuesday 20th March 2007 to consider and approve the company’s final audited accounts for the financial year ended 31st December 2006. The Board will also consider the declaration of a final dividend to be recommended to the company’s shareholders at the forthcoming annual general meeting.

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Simonds Farsons Cisk also closed unchanged at Lm0.82 in a week which saw 1,836 shares trade across 3 transactions.

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No trades were registered in GlobalCapital, Datatrak holdings and Medserv.

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This article which was compiled by Jesmond Mizzi Financial Services Limited (JMFS) does not intend to give investment advice and the contents therein should not be construed as such. Readers are encouraged to seek professional advice regarding their personal financial situation. The value of investments can go down as well as up.  Past performance is no guarantee for future performance. Jesmond Mizzi Financial Services Limited is licensed to conduct investment services by the Malta Financial Services Authority. The directors or related parties, including the company, and their clients are likely to have an interest in securities mentioned in this article. For further information please contact JFMS at 67/3 South Street Valletta or on tel:  21224410 or email [email protected]