MSE Weekly Round-Up Report: 20th – 24th August 2007

MSE Weekly Round-Up Report: 20th — 24th August 2007


Local bourse up 0.4% as seven equities move higher

The local bourse moved 0.4% higher as seven of the nine active equities during the week registered weekly gains. The Malta Stock Exchange Index closed 21 points higher at 4,878.61 points. International Hotel Investments was the top equity performer of the week having registered the highest volume of shares traded, while FIMBank suffered the largest weekly drop to close in negative territory.

A total of 130 deals were executed in the equity market for a total turnover Lm429,513, while 36 transactions were placed in local bonds and government stocks for a value over Lm1.33 million. In addition a total of 5 transactions were executed in four different Treasury Bills for a traded value over Lm662,000.

International Hotel Investments gained 2.9% on the week as over 343,000 shares changed hands across twenty deals to close at EUR1.07. The equity registered gains in four sessions, with the high and low prices traded at being EUR1.07 and EUR1.04 respectively.


Simonds Farsons Cisk and Plaza Centres also closed in positive territory even though gains were registered on low volumes. Farsons’ shares gained 1.9% on a mere two deals to close at Lm1.02 while Plaza shares added 1.4% on a single trade of 800 shares.

Malta International Airport shares moved 1.1% higher to Lm1.395 as 3,635 shares changed hands across four deals. Moreover, Middlesea Insurance edged 0.6% upwards on a weekly basis to end the week at Lm1.66 as 2,421 shares were transacted across five deals. Maltacom was also amongst the week’s positive performers having added 0.7% on a volume of 23,138 shares which were transacted across seventeen deals. The equity’s price ended 1c higher from the previous week at the level Lm1.45.

In the banking sector, HSBC Bank Malta shares were the only to post gains. Its share price gained 0.5% to close at Lm1.93 on a volume of 35,450 shares which were traded across twenty-five deals. On the other hand, Bank of Valletta shed 0.6% over the week, as over 38,000 shares were transacted across forty-four deals. The equity closed at its lowest traded price during the week, that of Lm3.575.

In addition, FIMBank was the worst equity performer on a week-on-week having dropped 2% to US$1.90 on a volume traded of 42,075 shares. On Friday, the company announced its interim financial statements for the half-year ended 30th June 2007. It was noted that FIMBank Group posted an after tax-profit of USD3.46 million, equivalent to an increase of 11% over the USD3.13 million registered for the same period in 2006. Group net interest income increased by 22% on 2006, while net fee and commission income increased by 24%. On the other hand, net trading income booked by the Group for the period under review remained at the same levels as 2006. Group net operation income grew by 22% to USD12.22 million while group operating expenses (before adjustment to Goodwill) increased by 23% highlighting the increased activity and operating base of the Group.

In the local corporate bonds market, a total of twenty-nine transactions were performed across fifteen different bonds for a total turnover of Lm130,713. With regard to Malta Government stocks, a traded value of over Lm1.2 million was registered across ten different stocks. The highest volume was recorded in the 5% MGS 2021 which closed at Lm99.41 having registered a turnover of nearly Lm410,000.

Meanwhile, following the closure of Friday’s trading session, GlobalCapital plc announced its half-yearly report for the period ended 30th June 2007. The company registered a profit after tax for the period of Lm388,919 compared to the corresponding result last year of Lm735,180. Also worth noting, is the increase in operating profit of 21.9% and the continued healthy returns on the international investment property portfolio of the company and its subsidiaries. Moreover, as pointed out in the company announcement, their were significant fair value losses on securities held by the company and its subsidiaries, including the life insurance company, attributable to negative market conditions which prevailed during the year to date.

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]