Weekly Round-Up — 11th -15th February 2008

–

BOV shares plunge 10%

–

It has been a negative week for the local banking sector with Bank of Valletta’s, HSBC Bank Malta’s and FIMBank’s shares all declining in price and causing the Malta Stock Exchange Index to close 3% lower at 4,713.26 points. The top weekly equity performer was Plaza Centres followed by Middlesea Insurance, while GO’s and Malta International Airport’s shares also closed in positive territory even though the gains were marginal.

–

A total of 374 deals were registered on the stock exchange for a turnover above EUR5.38 million. In the equity market 273 deals were executed for a traded value of EUR1.26 million, while 84 transactions were performed in local corporate bonds and government stocks for a turnover just below EUR3.29 million. In addition, 8 deals were executed in Treasury Bills for EUR774,094.

–

Bank of Valletta shares plunged 10% on a week-on-week basis having registered five consecutive negative sessions. The equity had over 100,000 shares change hands across 112 transactions with the weekly high and low prices ranging between EUR6.219 and EUR5.50. BOV’s share however closed the week at EUR 5.65, nearly 17% down year-to-date.

–

Within the same sector, HSBC Bank Malta’s shares lost 1.6% to close at EUR4.65, less than half a percentage point lower, year-to-date. Activity in the equity during the week was relatively low with just above 56,000 shares being traded over forty-seven deals. After two consecutive positive weeks for FIMBank’s shares, the equity’s share price retreated US$0.02 to the US$2.00 level, this representing a 1% drop on a weekly basis. This was attained on a volume of 35,431 shares which were negotiated over seven deals. Moreover, Lombard Bank’s shares were also active however they closed at the same level, that of EUR13.00 having traded 3,703 shares over three trades.

–

GO was also active during the week edging 0.7% higher to close at EUR3.05 as 22,451 shares were swapped across twelve deals. Middlesea Insurance advanced 1.1% to the EUR3.70 level even though this was registered on a negligible volume of less than 300 shares. Malta International Airport moved 0.3% upwards to close at EUR3.18 on a volume of 31,250 shares which were traded over twenty-one deals. Plaza Centres was however the week’s top performer gaining 4.1% to EUR1.60, even though this was recorded on a single transaction of 1,640 shares.

–

On the other hand, International Hotel Investments saw its shares suffer a 2.9% decline as 46,000 shares were negotiated across seven deals. The equity closed the week at EUR1.02, two percent lower year-to-date. The other equity to close in negative territory was Crimsonwing, which shed half a percentage point on a single transaction of 2,000 shares and closed at EUR0.597.

–

Moreover, Maltapost shares were active and registered the largest volume traded. Just below 142,000 shares were transacted across fifty-nine deals with the weekly high and low prices registered ranging  between EUR0.668 to EUR0.66, before closing stable on the week at EUR0.665.

–

With regard to trading in the local bond market, the traded value in Malta Government Stocks amounted to over EUR2.53 million, the majority of which was recorded in the 5.4% MGS 2010 which closed at EUR103.14. Turning to the local corporate bond sector, the 4.6% HSBC EUR Bond 2017 was the most actively traded, however it suffered a drop in price to close the week at EUR97.60.

–

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]