MSE Weekly Round-Up Report: 13th-17th August 2007

MSE Weekly Round-Up Report: 13th-17th August 2007

MSE records marginal change in a short week of trading.

The holiday month of August brings a short week of trading for the MSE because of the mid week public holiday and the suspension of last Thursday’s session just after one hour of trading when connectivity was hindered  because of technical issues. In fact during Thursday’s session only 5 trades in HSBC were executed and these for a total of 2,290 shares.

Over the week the index moved 0.23% higher after gaining 11 points over last week’s reading of 4,847 points. The two major banks, BOV & HSBC Bank Malta plc together with International Hotel Investments were the three gainers on the day to put the index in positive territory on Monday after eight equities were active, registering between them 39 transactions.

On Tuesday the positive vibe continued to be felt in the local market after a 0.25% upward move was recorded, which was brought about by gains being registered in HSBC Bank Malta, BOV & GlobalCapital shares.GlobalCapital ended the week at Lm1.95 and the Company announced that the Board of Directors will be meeting to consider and  approve the interim results as at 30th June 2007.

The other busy day of the week for the MSE was Friday which session ended 0.26% down from the previous one to make the index close at 4,858. During the day 8 equities were traded over 49 transactions. Surprisingly enough, the three equities which caused the MSE to open in positive territory at the beginning of the week, were the same three companies to push the index down by 13 points on the last day of the week. The losers were the two major banks BOV & HSBC Bank Malta which registered marginal negative changes of 004c and 009c respectively to close at Lm3.596 (BOV) and Lm1.92 (HSBC). IHI shares closed 01c lower at Eur1.04.

FIM Bank and Maltacom closed unchanged at USD1.94 and Lm1.44.

The gainers for the day were the smaller caps Plaza (Lm0.70c), Farsons (Lm1.001) and MIA (Lm1.38), the former and the latter gaining 01c each whilst Farsons gaining 001c on two trades of 3,364 shares.

In the bond market, from the corporate end minimal activity was recorded, whilst activity in Malta Government Stocks brought about some decline in their prices at the beginning of the week but MGS prices moved substantially higher on Friday probably as an effect of the recent market turmoil in the international markets this week.

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]