MSE Weekly Round-Up Report: 4th — 8th June 2007

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The local bourse closed this four-day trading week 1.47% or 72 points lower at the level of 4,802.22. Eleven equities were traded during the week, four of which closed higher, six ended lower while an equity closed unchanged. A total of 134 transactions were registered on the regular equity market for a value of Lm377,898 while over Lm5.88 million was recorded in local bonds and government stocks. Moreover, four transactions were also executed across 3 Treasury Bills for a total value of Lm911,011, a part from a single transaction performed in the ‘Put-Through’ market for a value of Lm17,280.

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The top performer of the week was Simonds Farsons Cisk which saw its equity price reach the Lm1 level. This represented a 7.5% gain over last week and was attained on a volume of 39,520 shares traded across sixteen deals.

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Grand Harbour Marina also posted a strong gain, rising over 5% to close 3c8 higher at Lm0.788. A total of nine transactions were performed in the equity with 18,595 shares changing hands.

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Minor gains were also registered in the two large caps, Maltacom and Bank of Valletta (BOV). Maltacom’s share price edged 0.7% higher to close at Lm1.449 with nearly 25,000 shares being transacted across eighteen deals.

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BOV was the only positive performer in the banking sector on a week-on-week basis. BOV’s share price moved 1.1% up to close 4c higher than a week ago, at Lm3.64. Trading in this latter equity was modest with just below 19,000 shares trading across thirty deals.

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In contrast, HSBC Bank Malta (HSBC), Lombard Bank and FIMBank ended the week in a negative terrain. HSBC had 49,388 shares change hands across forty deals to register a 1% drop and close at Lm1.91, while Lombard Bank slipped 1.5% or 7c to close at Lm4.56, on low activity. FIMBank also ended in negative territory on a weekly basis having lost 2.5% to close at the US$1.90 level on a volume of 147,079 shares traded across seven deals.

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As was announced by International Hotel Investments (IHI) on 29th May 2007, on 4th June the Company capitalized nearly EUR5 million from its revaluation reserves through the issue of fully paid-up bonus shares of a nominal value of EUR1. Friday was the first time the equity traded since the allotment of the bonus shares however trading was thin, with just 3,037 shares changing hands across three deals, all at the price of EUR1.00. This price reflected the bonus share issue. IHI shareholders may also opt for the buy-back option at EUR1.00 per share, until 11 July 2007.

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A 2% drop was also registered in Middlesea Insurance’s share price on minimal activity. The equity ended the week 3c8 lower at the Lm1.86 level having traded 767 shares across two transactions. Datatrak holdings was amongst the equities to close in negative territory. The equity slumped by nearly 7% to close at Lm0.242 even though this was attained over a single transaction of a mere 233 shares.

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Turning onto the local bond market, trading was dominated by Malta Government Stocks in which 101 transactions were executed across nineteen different issues for a total value of Lm5.76 million. Similarly to last week, the majority of these government stocks registered declines in their prices. On Wednesday, the Treasury also announced that the Government is going to issue three new stocks, namely, the 5.7% MGS 2012 (III) Fungible issue, 4.8% MGS 2016 (III) Fungible issue, and another stock which will be issued at par. However further details for the latter will be announced later on. With regard to local corporate bonds, 28 trades were executed for a value just above Lm78,000.

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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]