MSE Weekly Round-Up Report: 9th — 13th July 2007

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HSBC Bank Malta shares up 3.1% on the week

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HSBC Bank Malta’s (HSBC) positive run helped the Malta Stock Exchange Index gain 0.8% and close 39 points higher at the level of 4,894.13. Nine equities were active during the week three of which closed in positive territory, five others ended lower while the remaining equity closed unchanged. A total of 145 transactions were executed in equities for a turnover just below Lm308,900 while 90 deals were performed in local bonds and government stocks for a value of nearly Lm5.27 million. In addition, 3 deals were executed in two treasury bills for a nominal value of Lm87,000.

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HSBC registered five consecutive share price increases this week (seven if considering the previous week) to close 3.1% higher at the level of Lm1.96. This was attained on a volume of 63,624 shares which were traded across forty-six deals. The equity was the week’s top equity performer, in anticipation of the publication of the half-yearly results and the declaration of an interim dividend which is expected in the coming weeks.

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Within the same sector, FIMBank also closed in positive territory moving 2.1% up and closing at US$1.94. However, activity in the equity was rather low with 16,980 shares changing hands across four deals. On the other hand Bank of Valletta closed in the red, dropping 0.4% to Lm3.595 on a volume of 22,205 shares which were transacted over thirty-four trades.

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International Hotel Investments recorded the largest volume of shares traded this week. In fact, nearly 83,900 shares changed hands across nineteen transactions to see its share price climb 1% and close at EUR1.05. This is equivalent to a 5% increase year to date.

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Maltacom was the worst equity performer on a week-on-week basis sliding down 3% to close at Lm1.401. The volume traded over fifteen deals amounted to 26,841 shares, with the weekly high and low prices traded at being Lm1.44 and Lm1.401 respectively.

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Malta International Airport (MIA) also closed in negative terrain after having lost 1.48% on a mere volume of 3,600 shares traded across three deals. The equity ended the week at the price of Lm1.33. Meanwhile, the Board of Directors of MIA is scheduled to meet on 26th July 2007 to approve the interim financial statements for the six months ended 30th June 2007.

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Moreover, Middlesea Insurance as well as Simonds Farsons Cisk performed negatively on a weekly basis losing 1.1% and 1% respectively. Middlesea Insurance’s share price closed at Lm1.73 on a volume of 2,500 shares spread across five deals. Year to date, this is equivalent to a 12.6% decline. Simonds Farsons Cisk closed at Lm0.97 after having dropped 1c in the last session of the week. Throughout the week, 10,359 shares changed hands in this latter equity, over a total of seventeen transactions. The equity however is still the best performer this year, having gained over 21%.

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In addition, the only active equity to close unchanged was Datatrak Holdings, which closed stable at Lm0.23 as 1,900 shares traded over two deals.

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Moving onto the bonds market, twenty three Malta Government Stocks (MGS) were traded for a total turnover of Lm5.17 million, while twelve local corporate bonds were traded for a value above Lm93,300. It was a mixed week for MGSs, with some of these stocks gaining in their prices while few others suffered declines.      

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Earlier during the week, the European Union’s 27 finance ministers confirmed Malta’s January 1st 2008 entry into the euro zone and set the rates at which the single currency will replace the lira. The Maltese lira would be replaced at the expected rate, that is, 0.429300 Maltese lira which would be worth 1 euro.

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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]