MSE Weekly Round-Up Report: 22nd — 26th October 2007

– 

BOV financial results announced

– 

Strong activity on the local stock exchange during a week in which, five of the nine active equities closed in positive territory. The Malta Stock Exchange Index gained 0.27% or 13 points over the previous week to close at 4,853.25 points. The banking sector was very active with HSBC Bank Malta, Bank of Valletta, Lombard Bank and FIMBank accounting for 62% of the total volume registered in the equity market.

– 

A total of 346 deals were registered on the local bourse for a turnover of Lm2.38 million. In the equity market, 260 deals were executed for a traded value of Lm755,187, while 75 transactions were performed in local corporate bonds and government stocks for a turnover above Lm1.06 million. In addition, nine deals were executed in Treasury Bills for a value of Lm558,415.

–

In anticipation of Bank of Valletta’s Bank and Group’s publication of financial results for the year ended 30th September 2007, the equity gained nearly 1% on the week to close at Lm3.61. The equity registered the largest number of deals with 90,414 shares being transacted across eighty-seven deals. The weekly low and highs were Lm3.58 and Lm3.62 respectively.

– 

After Friday’s trading session closed, BOV’s Board of Directors announced and issued the final audited financial statements. The Board also further resolved to recommend for the approval of the AGM the payment of a final gross dividend per share of Lm0.135, which if approved by the AGM would make for a total gross dividend per share for the year of Lm0.2025 (Lm0.1316 net dividend per share).

– 

BOV Group also registered a profit of Lm43.7 million before taxation for the year under review, compared to Lm38.4 million in 2006, representing an increase of 13.9%. Return on equity for the year also increased to 26.4% (2006: 25.2%), while earning per share amounted to Lm0.263, up from Lm0.2333 in 2006.

– 

Back to trading on the stock exchange, for the second consecutive week Lombard Bank was the top equity performer having climbed a further 7.9% to close at Lm5.49. This was attained on a volume of 17,753 shares which were traded across twenty-four deals. Within the banking sector, FIMBank also posted a gain even though minimal. The equity closed at the US$2.00 level having edged 0.5% higher on a volume of nearly 59,000 shares. On the other hand, HSBC Bank Malta was the worst equity performer of the week having declined by 0.5% or 1c to close at Lm1.89. The latter resulted during a week in which over 68,000 shares changed hands across seventy-one transactions.

–

Amongst the equities to close in positive territory on the week is Malta International Airport which managed to edge 0c1 or 0.07% higher to the Lm1.40 level. Activity was fairly high in the equity having recorded a trade volume of 30,700 shares spread over twenty-three trades. 6PM shares also closed in positive grounds having added a further 1 penny or 1.4% to close at £0.73.

– 

Maltacom was the second and only equity to close in the red on a week-on-week basis. The equity closed at Lm1.395 even though it was traded at weekly highs and lows of Lm1.41 and Lm1.39 respectively. The total volume traded was fairly high as 76,400 shares were negotiated across twenty-five deals.

–

International Hotel Investments and Simonds Farsons Cisk both closed unchanged on a weekly basis. IHI had 31,097 shares traded across five deals to close at EUR1.04, while Farsons had 3,404 shares change hands across four deals all at the stable price of Lm1.10.

– 

Turning onto the local bond market, a number of Malta Government Stocks kept registering price increases, with the total value traded in this sector reaching just above Lm1.02 million. With regard to the local corporate bond sector, the total turnover recorded amounted to Lm45,780.

– 

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]