MSE Weekly Round-Up Report: 17th – 21st December 2007

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GlobalCapital share price soars over 16% on the week

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The Malta Stock Exchange Index gained 1.4% to close at 4,918.74 points on the week following strong share price gains in GlobalCapital and Lombard Bank shares. HSBC Bank Malta (HSBC), Bank of Valletta (BOV), GO and Malta International Airport were also positive performers on a weekly basis, while the only equities to suffer share price losses were Middlesea Insurance, Plaza Centres’ and FIMBank.

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A total of 387 deals were registered on the stock exchange for a turnover above Lm7 million. In the equity market, activity was high with 307 deals being executed for a traded value of Lm1.62 million, while 75 transactions were performed in local corporate bonds and government stocks for a turnover just below Lm5 million. In addition, 5 deals were executed in Treasury Bills for a value of Lm426,837.

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GlobalCapital had over 485,000 shares traded during the week across 114 deals to register a turnover of Lm1.034 million. Its share price climbed 16%, recouping all losses and closing 4.5% higher year-to-date, at the Lm2.299 level. Its weekly high and lows were Lm2.30 and Lm1.98.

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Lombard Bank also registered strong share price gains advancing by 10.5% to close the week at Lm5.799. This was attained over a volume of 47,714 shares which were negotiated across thirty-seven deals during a week in which the high and low prices recorded were Lm5.80 and Lm5.25 respectively.

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Also within the banking sector, HSBC advanced by 1.5% to close just below the Lm2 at Lm1.99 on a volume of 39,500 shares which were transacted over thirty-seven deals. BOV edged 0.14% higher to close at Lm3.515 as 43,382 shares changed hands across forty-five deals. On the other hand, FIMBank shed 1.5% on a week-on-week basis to close at US$1.744. The latter was however attained over thin volume with less than 10,000 shares being traded across five transactions.

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Malta International Airport was amongst the positive performers on a weekly basis having advanced 1.2% to reach the Lm1.40 level. A total of seventeen deals were in fact registered with 24,520 shares being traded.

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The worst equity performer was Middlesea Insurance which dropped 4% or 7c to close at Lm1.65. This was however registered over a mere single deal of 116 shares. Plaza Centres’ also ended in negative territory having declined by 2.9% or 2c to Lm0.67, on a volume of 5,460 shares. During the week Plaza issued its interim directors’ statement in which it was stated that the company’s new extension project is at an advanced stage to-date, and is moving according to plan and within budget. The completion date remains unchanged in early 2008, while the occupancy for the period being reported remained high at 98.26%.

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Moreover, International Hotel Investments and Grand Harbour Marina were also active however both closed unchanged from the previous week. The former had a single deal of forty-one shares transacted at EUR1.04, while the latter closed at Lm0.75 as 4,616 shares were traded over three deals.

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With regards to the local bonds market, the traded volume registered in Malta Government Stocks amounted to Lm4.94 million, with the 7.8% MGS 2012 and 5.7% MGS 2012 accounting for the majority of such turnover. On the other hand, the turnover in the local corporate bonds market was rather low and amounted just above Lm53,400.

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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]