MSE Weekly Round-Up Report: 17th — 20th September 2007

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HSBC Bank Malta and BOV shares move higher

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The local bourse closed this four-day trading week rather flat after mere gains in HSBC Bank Malta and Bank of Valletta’s shares made up for most losses in International Hotel Investments, Middlesea Insurance, Lombard Bank and Datatrak Holdings’ share prices. The Malta Stock Exchange Index lost 3 points to close at 4,877.72, still slightly higher (+0.09%) from the level at the start of 2007.

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During the week, eleven equities were actively traded on the market. A total of 125 deals were registered for a turnover of Lm440,873 in the sector, while 44 transactions were also executed in local corporate bonds and government stocks for a total value of Lm237,394. Moreover, 8 deals were performed in Treasury Bills for a value of Lm90,219 respectively.

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Bank of Valletta recorded the largest number of deals during the week. In fact, over 74,000 shares changed hands across forty-one deals with its share price edging 0.7% higher to close at Lm3.619. This was the equity’s weekly highest trading price while the lowest traded at was Lm3.596. HSBC Bank Malta shares also rose by 0.7% and closed at Lm1.914. This was attained on a volume of nearly 30,000 shares which changed hands across twenty-eight transactions. The weekly high and lows in this latter equity were Lm1.92 and Lm1.902.

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Also within the banking sector, FIMBank had a strong volume of 77,765 shares transacted across eleven deals however its share price remained stable at the US$1.94 level. Lombard Bank was also active but closed the week 1% lower at Lm4.75. Worth noting however that this decline was registered on a negligible deal of 8 shares only.

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The worst equity performer on a weekly basis was International Hotel Investments which share price dropped 2.5%, even though this was attained on a single deal of 7,736 shares.  The equity thus closed at the EUR1.07 level, still 7% higher from the beginning of the year.

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Middlesea Insurance shares declined by 1.8% to Lm1.65 on a volume of 2,974 shares spread across six deals, while Datatrak Holdings shed 0.6% to close at Lm0.17 on a transaction of 500 shares.

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Trading was rather strong in Maltacom as 28,689 shares changed hands across seventeen trades. The equity’s weekly low price was Lm1.39 even though it managed to close back at Lm1.40, unchanged from the previous week’s closing level. Malta International Airport shares were also active and closed unchanged at Lm1.40. This was however recorded on a volume of 8,680 shares which were transacted across eight deals.

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Moreover, Simonds Farsons Cisk closed stable at Lm1.05 on a volume of 8,000 shares, while Medserv had 600 shares transacted on a single deal at Lm1.60, to close unchanged from the previous week.

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In the local corporate bonds market, a total of nine transactions were performed across six different bonds only, for a total turnover of Lm22,110. The most active bond was that of Gap Developments that pays 7% however it bond price suffered a drop of 25c to Lm99.75. With regard to Malta Government stocks, a traded value of Lm215,283 was registered across eleven different stocks with the majority of the stocks registering price decreases. The largest price changes were recorded in the 5% MGS 2021 which dropped below the Lm100 level to Lm99.39 and the 5.2% MGS 2020 which closed the week 75c lower at Lm101.88.

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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]