Weekly Round-Up — 17th — 20th March 2008

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Maltapost’s shares 70% up since IPO

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The Malta Stock Exchange Index shed 0.2% to close seven points lower from the previous week at 4,651.55. Activity was rather low on the local bourse, with four of the eleven active equities closing in positive territory, whilst six others closed in the red. Maltapost followed by Simonds Farsons Cisk were the top gainers whilst Middlesea Insurance and Bank of Valletta were the equities to suffer the largest share price drops during the week.   

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A total of one hundred twenty two deals were registered on the stock exchange for a turnover above EUR2.58 million. In the equity market eighty-eight deals were executed for a traded value of nearly EUR656,345, while twenty-eight transactions were performed in local corporate bonds and government stocks for a turnover just above EUR717,400. In addition, five deals were executed in Treasury Bills for EUR1.2 million.

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Maltapost was the week’s top equity performer rising by twenty per cent, from EUR0.711 to EUR0.848 on a volume of 57,321 shares which were negotiated across twelve trades. This increase is equivalent to a seventy per cent rise since the equity was made publicly available for trading on the local bourse earlier this year. Friday afternoon Maltapost announced that as a result of a further acquisition of shares this week, Mr M I Marafie (a Kuwaiti investor) now holds 5.0255% of the equity capital of the company.

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Simonds Farsons Cisk gained two point four percent on a volume of 7,725 shares to close at EUR2.56, whilst GO added nearly one per cent to end the week at EUR3.029 having traded three thousand shares across two deals.

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In the banking sector, HSBC Bank Malta was the only positive performer edging 0.5% higher to close at EUR4.41. This was attained over a volume of 16,595 shares which were transacted across fourteen deals. On the other hand, Bank of Valletta, which was the week’s most actively traded equity, declined by one point six percent to end the week at EUR5.65. Over 84,500 shares swapped hands over forty-five transactions with the weekly highest and lowest prices traded at being EUR5.70 and EUR5.40 respectively.

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Lombard Bank and FIMBank also closed in negative terrain. Lombard Bank had two thousand shares traded over two deals to lose 1.5% or EUR0.20 and close back at the EUR13.00 level. FIMBank shed 0.1% or US$0.002 to end the week at US$1.74 on a single minor deal of 825 shares.

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Middlesea Insurance was however the worst performer having declined two point eight per cent, from EUR3.60 to EUR3.50 during a week in which 2,006 shares changed hands across four deals. International Hotel Investments shed 0.5% on a mere volume of 700 shares to close at EUR1.034, whilst Malta International Airport shares lost point eight percent to close at the EUR3.30 level on a single deal of two hundred shares.

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Crimsonwing was the only equity to trade however close unchanged during the week, having executed a deal of 4,658 shares at EUR0.55.

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In the bonds market activity was also relatively low. In fact, seven local government stocks were traded for a total turnover just above EUR645,300, with the 5.4% MGS 2010 accounting for the majority of the turnover registered on the stock exchange. In the corporate bonds sector, the highest volume traded was recorded in the 7% Pavi Shopping Complex Bond which however traded unchanged at EUR100.

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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]