MSE Weekly Round-Up Report: 10th — 14th September 2007

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Banking sector pushes local bourse in negative terrain

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The local bourse declined by 0.8% on the week following losses in the two large local banks HSBC Bank Malta and Bank of Valletta, as well as in Lombard Bank. Datatrak Holdings’ share price slumped steeply downwards, while International Hotel Investments shares edged marginally lower.

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On the other hand, Plaza Centres, Simonds Farsons Cisk and San Tumas Holdings were the positive equity performers on a week-on-week basis. This was however not enough to prevent the Malta Stock Exchange Index from closing 39 points lower on a weekly basis, at the level of 4,880.56 points.

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A total of 140 deals were executed in the equity market for a turnover of Lm373,757. Plaza Centres was the top equity performer having climbed 4.2% to close at Lm0.74. This was attained on a volume of 31,600 shares which were transacted across five deals, all at the same price.

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Simonds Farsons Cisk also registered five deals during the week as 13,432 shares changed hands. Its share price moved nearly 2% upwards to the Lm1.05 level, this being the equity’s highest weekly traded price, while its lowest was Lm1.048.

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San Tumas Holdings was amongst positive equity performers having gained 8.6% in its price to reach the Lm1.25 level. This was however attained on a single transaction of a mere 550 shares.

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Such gains made in the mentioned equities were however wiped out mainly by losses in the local banking sector. Bank of Valletta shares declined by nearly 1% to close at Lm3.595 as 33,534 shares were transacted across thirty-two trades. Its weekly high and lows were Lm3.63 and Lm3.59 respectively. HSBC Bank Malta registered the greatest number of deals during the week, thirty-seven, with 30,298 shares changing hands. Its equity price however declined by 1.5% to close at Lm1.901. Lombard Bank was also active having traded 1,866 shares across three deals. The equity dropped 3.5% to Lm4.799 after having declined by 17c5 in Tuesday’s session and a further 0c1 on Friday. FIMBank was also active during the week however its shares kept being traded stable at the US$1.94 level.

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The most heavily traded equity of the week was International Hotel Investments which registered a volume of 142,827 shares, across twenty-one deals. Its share price however edged 0.2% lower to close at EUR1.097. In addition, Datatrak Holdings also closed in the red having slumped by over 22% to close at Lm0.171 on a volume of 4,300 shares spread across two trades.

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Maltacom’s and Malta International Airport’s shares closed unchanged on a week-on-week basis, both at the Lm1.40 level. Maltacom had 12,400 shares change hands across ten deals during the week with its high and low being Lm1.42 and Lm1.40. On the other hand, Malta International Airport had 23,491 shares transacted across nineteen deals with Lm1.40 being the highest price traded at and Lm1.35 being its lowest.

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Moreover, Medserv registered a single transaction of 3,850 shares to close unchanged at Lm1.60.

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During the week, 6pm Holdings plc announced that the 1.5 million shares on offer on the pre-placement period were fully taken up. The remaining balance of 750,000 shares will be available for subscription to potential investors as from Monday 17th September.

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Turning to the local bond market, a total of thirty seven transactions were executed in Malta Government Stocks for a turnover of Lm815,690. The 5.7% MGS 2012 and 5% MGS 2021 accounted for the majority of the traded volume in stocks. Such stocks in fact recorded price increases on the week. Similarly, most of the other stocks traded kept their positive upward trend. Finally, trading in local corporate bonds was modest, with thirty deals were registered for a total traded value of Lm98,132.

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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]