Malta Stock Exchange Weekly Round Up: 20th — 23rd March 2007

Bank of Valletta plc up nearly 3%, MSE up 0.96%

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The Malta Stock Exchange (MSE) Index regained 0.96% over the week closing at 4872.876 just below the 2006 year end reading. Activity was lower than last week although this week the MSE traded four times as Monday was a holiday. Twelve equities were traded in all with gains in six equities and losses in three and no changes in the other three equities traded. In total a hundred and fifty nine deals were executed in the equity market with volume standing at 227,021, for a turnover of  Lm434,626.

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The week’s top equity performer was Bank of Valletta plc as it gained 2.93% to close 10c5 higher at the level of Lm3.685, having also traded at LM3.69 on Friday. This was attained across fifty one transactions as 64,469 shares changed hands.  The increase in the price occurred on Friday as the share price moved up from Thursday’s close at   Lm3.59 to Lm3.685 on a volume of 16,625.

The second best performer of the week was Lombard Bank plc which ended the week up 1.01% up at Lm5.00, five cents up on the week. This was achieved on a mere three transactions totaling 1,975.

HSBC Bank Malta plc was also up two cents or 0.53% to close at LM1.91. In total 38, 354 shares changed hands on 44 deals. The equity traded between Lm1.89 and Lm 1.91.

To complete a positive performer for the banking sector, FIMBank plc was also up 0.8% to close at US$ 1.89, as 2,500 shares changed hands in one transaction.

Maltacom plc was up 0c1 on the week closing at Lm1.397. In total 36,740 shares changed hands in 17 deals as the equity recovered from a low price of Lm1.375.

Plaza Centres plc was up 0.7% or 0c5 on a turnover of 4,300 in two deals closing at Lm0.715. During the week the company announced improved profits over the previous financial year. Infact, the profit before tax improved from LM427,494 in 2005 to Lm471,417 in 2006. The Board of Directors resolved to recommend the payment of a gross dividend of 4c7 per share and a final net dividend of 3c06 per share which will be paid on the 27 April 2007.

Three companies saw their share price fall during the week, namely, Middlesea Insurance plc (MSI), GlobalCapital plc, and Malta International Airport plc (MIA).

MIA suffered a loss of 3cents on the week and closed at Lm1.36 as 12,600 shares changed hands in eight deals. MSI and GlobalCapital share price fell by 1cent to close at Lm 1.97 and Lm2.01 respectively, in thin trading.

On Friday afternoon GlobalCapital plc, announced that the Board of Directors had approved the Group’s financial statements and also resolved to recommend to the shareholders a final dividend of 1cent gross per share(0c65 net of tax) and a special dividend of 5cents (3c25 net of tax). If approved both shall be paid not later than the 6 July 2007. The Group announced that operating profit increased by 60% to LM2.72million compared to 2005. Earning per share increased to 15c4 up 26.2% and net assets increased to LM12.7 million compared to Lm11.2million in 2005. Profit after tax for the current year represents a return on shareholders’ funds of 16.1% compared to 14.4% in 2005.

The share price of International Hotel Investments, Simonds Farsons Cisk and Medserv closed unchanged at Euro 1.17, LM0.82 and LM.70 respectively. The most active of the three was IHI which traded 14 times with 49,400 shares changing hands.

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Trading in the bond market totalled a mere Lm350K of which Lm232K was traded in Malta Government Stocks. Five corporate bonds and twelve government bonds traded during the four sessions held this week.

week which saw 1,836 shares trade across 3 transactions.

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No trades were registered in

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. JMFS is licensed to conduct investment services by the MFSA. 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]