MSE Weekly Round-Up Report: 23rd — 27 th July 2007

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Malta Stock Exchange closes flat 

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Gains in four of the nine active equities during the week were not enough to push the local bourse into positive territory. Three equities registered declines in their share prices while the remaining two closed flat. The Malta Stock Exchange Index ended the week flat on a week-on-week basis, shedding less than two points to close at 4,883.76. Activity in the equity market was rather low this week as 122 transactions were executed for a turnover of Lm212,961. The value traded in local bonds and government stocks was nearly Lm3.19 million while an amount of Lm269,968 was traded in Treasury Bills.

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The top equity performer of the week was Plaza Centre which gained 6% to close at Lm0.69 on a low volume of 1,800 shares. These were transacted across three deals.

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Simonds Farsons Cisk’s shares closed the week at the Lm1.00 level after having gained 3c on a volume of 4,562 shares traded across five deals. This was equivalent to a 3.1% rise on a weekly basis. During the week the Company announced that during the first five months of the financial year commencing on 1st February 2007, the Group achieved its expressed performance objectives over the corresponding period in 2006.

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Malta International Airport (MIA) also had a positive week. Its share price gained 1.5% to close at Lm1.35 as 5,218 shares changed hands across ten transactions. Friday morning, the Company approved the interim unaudited financial statements for the financial period 1st January to 30th June 2007. MIA’s profit after tax for the period amounted to just over Lm1.13 million, 32% higher than the profit after tax for the same period last year. Such a significant improvement in the company’s results was largely due to the increase in the passenger and aircraft movements as well as increases in revenues from retail concession outlets in the first six months of the financial year. During the meeting, the Board of Directors also approved a net dividend per share of Lm0.025 to all shareholders of the Company on the Register of Members on the 3rd August 2007.

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Maltacom was amongst the positive performers this week. Activity was high with over 34,400 shares being transacted across twenty-two deals to see its share price gain 1.4% and close at Lm1.42.

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On the other hand, the worst equity performer was GlobalCapital which slumped by 5.1% to close 10c2 lower at the Lm1.90 level. This was attained on a thin volume, with a mere 155 shares changing hands across two deals. Middlesea Insurance shed 0.6% on a week-on-week basis to close at Lm1.70 as 5,750 shares were transacted across 10 deals.

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HSBC Bank Malta’s (HSBC) share price declined by 0.5% on a weekly basis to end at Lm1.95, as 17,680 shares were transacted across twenty-nine deals. The weekly high and low prices traded at in the equity were Lm1.96 and Lm1.94 respectively. HSBC’s Board of Directors are scheduled to meet on Monday 30th July 2007 to approve the Group’s and Bank’s Interim Accounts for the half-year ending 30th June 2007 and also to consider the declaration of an interim dividend.

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Within the same sector, Bank of Valletta shares closed unchanged at Lm3.60 on a volume of 17,315 shares traded over thirty-three deals. This was the highest traded price during the week while the lowest recorded was Lm3.58. During the week BOV reported that during the period 1st April 2007 to date (24.07.07), the Group’s financial performance has been much in line with expectations, and showed an improvement over the equivalent period last year.

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Moreover, FIMBank shares were also traded during the week, with over 74,500 shares changing hands across eight deals. Its share price closed stable at US$1.95 with all transactions recorded being executed at this same price.

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In the local bonds sector, the majority of the government stocks registered gains in their prices while the majority of the corporate bonds traded rather stable. The turnover in government stocks amounted to Lm3.11 million while that in corporate bonds was just below Lm80,000.

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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]