Bank of Valletta share price recovering

This week the Malta Stock Exchange Index (MSE) closed at 4,128.503 points, at a loss of 1.07% over the previous week.  Since the beginning of the year the Index lost over 16% and this is the tenth consecutive negative week for the MSE. During the week, twelve equities were negotiated, with three equities closing in positive territory, six in negative territory and three remaining stable.  During the week Bank of Valletta plc was the best performer whilst HSBC Bank Malta plc lost most ground.

A total of two hundred seventy three deals were registered on the stock exchange for a turnover of over EUR4.8 million.  In the equity market two hundred and four deals were executed for a total value of EUR612,611 whilst in the corporate bond market eleven deals for a total value of EUR117,537 were carried out.  In the government bond market forty-nine deals were executed for a total value of over Eur2.8 million. During the week, most Malta Government Stocks experienced falls in the prices negotiated. In Treasury Bills market nine deals were executed for a total value of over Eur1.2 million.

In the banking sector the share price of Bank of Valletta plc appreciated by 2.58% to Eur4.739 as 43,437 shares changed hands across seventy-three deals.  On the other hand the share price of HSBC Bank Malta plc fell sharply by 4.00% as 44,799 shares changed hands across fifty-two deals.  The share price of FIMBank plc dropped by 0.05% to $1.889 as 93,340 shares changed hands across sixteen deals.

Simonds Farsons Cisk plc saw its share price decrease by 0.73% to Eur2.71 on three deals for a total volume of 1,076 shares.  The share price of Grand Harbour Marina plc dropped by 0.05% to Eur2.049 on one deal of 1,425 shares.  International Hotel Investments plc lost 1.12% in its share price which closed at Eur1.06 after 780 shares changed hands across four deals.  The share price of GlobalCapital plc continued to lose ground as it fell by 1.82% to Eur2.70 as 2,720 shares changed hands across three deals.

The share price of GO plc remained stable at Eur2.65 as six deals were executed during which 6,649 shares changed hands. On Friday GO plc announced that Forgendo Limited (the joint venture company between Go PLC and Emirates International Telecommunications (Malta) Limited) has acquired a further 353,958 shares in Forthnet S.A. issued share capital, for a total consideration of Euro 1,875,977.40.   Malta International Airport plc also retained the share price of last week as it closed at Eur3.12 although 11,240 shares changed hands across seven transactions.  This follows the 18.2% increase in passenger departures during the month of May.  Crimsonwing plc continues to hold its IPO price of Eur0.50 as 6,500 shares changed hands across three deals. On Wednesday Crimsonwing plc announced that it has entered into a Share Purchase agreement for the acquisition of the total issued share capital of VDA Informatiebeheersing BV, a company based in Hilversum, The Netherlands, for the sum of €1.9 million.  The transaction is expected to close on or around the first week of July 2008.

The share price of Plaza Centres plc increased by 1.47% to Eur1.725 as 3,818 shares changed hands across three deals.  Following the strong increase in half-year profits, MaltaPost plc saw its share price increase by 2.56% to Eur0.80 as 68,629 shares changed hands across thirty-three deals.

On Wednesday it was announced that the Initial Public Offering of RS2 Software plc which opened to the public on Monday, was closed as it was oversubscribed.

This article which was complied 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 JMFS at 67/3, South Street, Valletta or on Tel: 21224410 or email [email protected].