MSE index up after ten negative weeks – Crimsonwing up 6%; BOV up 3.6%

This week the Malta Stock Exchange Index appreciated by 0.14% over the previous week as it closed at 4,134.099 points after ten consecutive negative weeks.  One hundred eighty four transactions across twelve equities were executed in the equity market for a total value of Eur948,036.  Fifteen transactions for a total value of Eur102,032 were carried out in the corporate bond market and fifty-one transactions for a total volume of over Eur5.1 million were carried out in the government bond market.  Five transactions for a total value of Eur303,433 were carried out in Treasury bills.  During this week on the Malta Stock Exchange a total value of over Eur6.4 million was negotiated across two hundred fifty five transactions. 

The banking sector dominated the trading during this week as high volumes were negotiated in Bank of Valletta plc, HSBC Bank Malta plc and above all FIMBank plc shares.  On the positive side, the share price of Bank of Valletta plc appreciated by 3.61% to Eur4.91 as 69,413 shares changed hands across seventy-six deals.  HSBC Bank Malta plc appreciated by 0.56% to Eur3.62 as 54,010 shares changed hands across forty-three deals. 

On the other hand, the share price of FIMBank plc dropped by 0.48% to $1.88 as 180,516 shares changed hands across twelve deals. On Monday FIMBank p.l.c. announced that MENAFACTORS Limited, originally a joint venture between FIMBank plc and National Bank of Dubai, authorised and regulated by the Dubai Financial Services Authority (“DFSA”) to provide credit, arrange credit or deals in investments and advice on financial products or credit as well as forfaiting and factoring and operating from the Dubai International Financial Centre (“DIFC”), has with effect from 29th May 2008, become a fully owned subsidiary of FIMFactors B.V., a fully owned subsidiary of FIMBank Plc, incorporated in the Netherlands.  Finally, the share price of Lombard Bank Malta plc dropped by 2.28% on two deals, for a total volume of 1,250 shares.

Crimsonwing plc was the best performer during this week as its share price appreciated by 6.00% from Eur0.50 to Eur0.53 on five deals for a total volume of 34,500 shares.  International Hotel Investments plc lost most ground as its share price dropped by 3.77% from Eur1.06 to Eur1.02 on twelve deals for a total volume of 37,145 shares.  On Monday CHI announced it signed a 10-year agreement with Mainland Investment LLC of Abu Dhabi, which is UAE’s leading investment house, for the operation of the Mafraq Hotel in Abu Dhabi which is due to open in 2010.

Medserv plc lost 1.34% to Eur3.99 on a single deal of 2,000 shares.  On the other hand the share price of Simonds Farsons Cisk plc gained 0.37% to Eur2.72 on three deals for a total volume of 3,436 shares.  Likewise the share price of MaltaPost plc gained ground as it appreciated by 1.87% to Eur0.815 as 25,654 shares changed hands across eleven deals. 

The share prices of Grand Harbour Marina plc, GO plc and Malta International Airport plc remained stable respectively. In total 18,500 Grand Harbour Marina plc shares changed hands across six transactions, whilst 22,835 GO plc shares changed hands across eleven transactions and 800 shares changed hands in two transactions in  Malta International Airport plc.

Trading in Malta Government Stocks was mainly dominated by the 5.1% MGS (III) 2014 which closed the week at 98.66 and the 5% MGS 2021(I) which closed at 96.00 with volumes reaching the 2 million mark. 

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