6pm Holdings up 6.85% this week.

The Malta Stock Exchange Index lost 1.85% over the previous week to close at 4,545.81 points at a loss of nearly 8% since the beginning of the year.  Fifteen equities were active during the week with five equities closing in positive territory, eight closing in negative territory and two remaining stable. 6pm Holdings plc was the week’s top equity gainer whilst the shares of MaltaPost plc suffered the largest weekly drop.

A total of three hundred and twenty deals were registered on the stock exchange for a turnover above EUR11.7 million.  In the equity market two hundred and twenty one deals were executed for a total value of EUR972,645.14. In the corporate bond market there were thirty-four deals for a value of EUR205,188.51, and in the government bond market there was a turnover of EUR10,475,062.72, across seventy-two deals.  Moreover, there were three hundred and twenty deals in Treasury Bills for a total value of EUR 64,906.80.

The value of shares of 6pm Holdings plc increased by 6.85% over the previous week as 88,804 shares changed hands for a total value of EUR85,491.16.  This performance followed the results’ announcement and a declaration of £0.013 dividend per share to shareholders registered with the Company on the 22nd April 2008.

During the week, in the banking sector, the share price of Bank of Valletta plc dropped by 3.67% to close at EUR5.25, its 2008 low ahead of interim results due to be announced on the 29th April 2008. In total 67,240 shares changed hands in seventy one deals for a total value of EUR356,909.54. On the other hand,  27,047 shares of HSBC Bank Malta plc changed hands with the share price losing 2.60% to close at a weekly low of EUR4.30 across thirty-eight deals for a total value of EUR117,672.86. 

Although there were fourteen deals transacted in shares of Lombard Bank Malta plc for a total value of EUR146,744 the share price remained stable at EUR13.00.  A turnover of EUR28,946.80 was registered over two deals in shares of FimBank plc were the price closed at US$1.909, at a loss of 0.31% over the previous week.

The share price of Middlesea Insurance plc lost 0.40% to close at EUR3.50 on one deal. This week GO plc share price dropped by 0.03% over the previous week to close at EUR3.014, this despite the announcement of a share purchase agreement of ForthNet to acquire the pay-TV operator NetMed NV.  International Hotel Investments plc saw their share price drop by 0.93% on a turnover of EUR95,526.02.  The share price of GlobalCapital plc dropped by 4.44% over eight deals of 5,450 shares. GlobalCapital p.l.c. announces on Friday that on 16 April 2008 it agreed terms for the acquisition of 85.5% of the issued share capital of Medifin Holding Limited which holds 99.9% of the issued share capital of Mediterranean Bank p.l.c.. Mediterranean Bank p.l.c. is licensed by the MFSA to carry on the business of banking under the Banking Act, 1994 and to provide investment services under the Investment Services Act 1994. The agreed terms are subject to confirmation following due diligence and all necessary approvals.

MaltaPost plc was the biggest loser this week with a drop of 6.37% in the share price which closed at EUR0.735 on twelve transactions where 25,106 shares changed hands for a total value of EUR19,028.61.

The share price of Grand Harbour Marina plc remained stable at EUR2.25.

The shares of Simonds Farsons Cisk plc gained 1.56%. 2,852 shares changed hands for a total value of EUR 7,382.22. Plaza Centres plc gained 1.47% on two deals for the value of EUR4,937.63. The share price of Crimsonwing plc gained 0.89% on one deal of 5,000 shares for a value of EUR2,825. The share price of Malta International Airport plc increased by 0.60% to close at EUR3.35.

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]