MSE Weekly Round-Up Report: 14th -18th May 2007

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Medserv’s share price climbs 6.7%

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The local bourse declined by nearly 1% during a week which saw eight equities trade, out of which four closed in positive territory and four others ended in negative terrain. Gains in Medserv, Malta International Airport (MIA), Maltacom and International Hotel Investments (IHI) were not enough to prevent the Malta Stock Exchange Index from falling, as the two largest local banks, HSBC Bank Malta (HSBC) and Bank of Valletta (BOV), both registered losses in their share price. In addition, FIMBank and GlobalCapital were also negative performers on a week-on-week basis.

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The MSE Index dropped 48 points to close at 4,855.58. The total value traded was Lm10.6 million with 232 deals being executed. In the equity market 169 deals were executed for a value of Lm510,811, while 54 transactions were recorded in local corporate bonds and government stocks for a turnover over Lm8.6 million. One however notes that a single deal of Lm7.1 million was performed in 5.75% Malta Government Stock maturing in 2010.

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Medserv was the week’s top equity gainer climbing by 6.7% to close at the Lm1.60 level. The equity gained 5c on Monday, 1c on Wednesday and another 4c on Thursday to end the week 10c higher. This was attained across ten transactions which saw 74,470 shares change hands.

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Malta International Airport also closed in the blue, gaining 3c or 2.2% on a weekly basis to close at Lm1.38. Trading was however thin in this equity, with just 4,600 shares being transacted across six deals. Maltacom was amongst the positive performers, having moved 2% higher on volume of 20,000 shares, spread across twelve deals. The equity closed at Lm1.48.

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The last session of the week saw IHI’s share price add EUR0.011 or 1% to close at EUR1.091. Activity in the equity was strong on Friday’s session, with nearly 120,000 shares were being traded across five transactions.

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On the other hand, it was a negative week for GlobalCapital’s share price as it headed 5.3% downwards, to close 10c lower at the level of Lm1.90. This was however registered on two trades which saw a mere 706 shares change hands.

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In the banking sector, HSBC declined by 2.6% while BOV lost 1.1% to close the week at the levels of Lm1.90 and Lm3.64 respectively. HSBC had 78,932 shares transacted across seventy-five trades while 35,023 shares were negotiated in BOV, across fifty-two deals. Moreover, FIMBank shed 0.3% on a week-on-week basis to close at US$1.94. The equity dropped US$0.005 on Tuesday and a further US$0.01 on Thursday’s session to remain stable in the last session of the week. This was attained across seven transactions which saw over 37,000 shares transacted.

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Turning onto the local corporate bond market, thirteen different bonds were active. The turnover in this market stood at Lm51,591 with twenty-four transactions being registered in all. With regard to Malta Government Stocks, sixteen issues were traded most of which recorded losses during the week. The nominal value traded in this market amounted to Lm8.54million with thirty deals being executed. In addition, the value traded in Treasury Bills was above Lm1.2 million, as nine transactions were performed across five different issues.

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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. 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]