MSE Trading Report weekly round-up for the week ending 11th July 2008.

Grand Harbour Marina up 4.88%

The Malta Stock Exchange Index (MSE) closed at 4163.057 points, losing 0.76% on the week and just over 15% on the year. During the week, thirteen equities were negotiated, with six equities closing in negative territory, five in positive territory whilst the rest remained stable.  During the week, Grand Harbour Marina plc was the best performer whilst Bank of Valletta plc lost most ground.

A total of two hundred and nineteen trades were registered on the stock exchange for a turnover of over EUR 13.53 million.  In the equity market one hundred and thirty four deals were executed for a value of EUR 585,635, whilst in the government bond market fifty three deals for a total value of over EUR 3.51 million were carried out. In the corporate bond market twelve trades were executed for a total value EUR 74,546.  In the Treasury Bills market twenty deals were executed for a total value of over EUR 9.36 million.

In the banking sector, the share price of Bank of Valletta plc continued to lose ground as it fell through out the whole week.  In fact, the equity closed at Euro 4.60, falling EUR 0.27, on a turnover of 31,303 shares traded over thirty nine deals. On the other hand, the share price of HSBC Bank Malta plc increased by 0.53%, as 59,061 shares changed hands over forty six deals, with a total turnover of EUR 226,370. HSBC closed the week at EUR 3.82, having traded at a high of EUR 3.85. Lombard Bank plc also continued to lose ground this week as its share price fell by 1.69% and closed at EUR 2.90, EUR 0.05 less than last week’s closing price, with 4,075 shares changing hands over four deals.  FIMBank plc experienced a negative performance as its share price closed the week at USD 1.86, decreasing by 1.59% on the week, on a turnover of 3,230 shares traded over three deals.

Crimsonwing plc saw its share price decrease by 3.70%, thus giving up all of last weeks gains. Crimsonwing closed at EUR 0.52 on two deals with a volume of just 2,500 shares. GlobalCapital plc also gave up some of its share price as it fell by 3.85%, as it closed at EUR 2.50, with 2,000 shares changing hands over two deals.  Middlesea Insurance plc closed the week at EUR 3.34, down 2.05% over three deals and a turnover of only 860 shares. 

Grand Harbour Marina plc (GHM) was the best performer of the week, as its share price increase by 4.88% to EUR 2.15. GHM traded four times during the week for a total volume of 23,153 shares. The share price of GO plc gained 4% and closed at EUR 2.60 as 25,772 shares changed hands in seventeen deals. GO plc announced that Forgendo Limited (“Forgendo”) (the joint venture company between GO plc and Emirates International Telecommunications (Malta) Limited) has acquired a further 676,277 shares in Forthnet S.A. (“Forthnet”) in issued share capital, for a total consideration of €2,870,175.78. Simonds Farsons Cisk plc experienced a 1.45% increase in its share price, as it closed the week at EUR 2.80, as 12,510 shares changed hands on four transactions. Malta International Airport plc also registered an increase in its share price as it closed at EUR 3.12, EUR 0.01 higher than last week’s price. In total 8,100 shares changed hands during the week over five deals.

International Hotel Investments plc maintained last week’s price, as it closed at EUR 1.05, with 9,523 shares changing hands over three deals. MaltaPost plc also registered last week’s price, with 3,257 shares changing hands over two deals. MaltaPost closed at EUR 0.80.

This week, United Finance p.l.c. offered investors in Malta €10 million 6.75 per cent Bonds due 2014-2016 having a nominal value of €100 each (the “Bonds”). The Bonds will, unless previously purchased and cancelled, be redeemed at any date between 30 June 2014 and 30 June 2016, as the Issuer may determine, on giving not less than sixty (60) days notice (subject to “Terms and Conditions of the Bonds”). In the event that during the Offer Period the Issuer receives applications for Bonds in excess of the first €10 million Bonds, the Issuer has the option to increase the Bonds in issue to an aggregate amount of €12 million (the “Over-allotment Option”). The closing date for subscription is Thursday, 17 July 2008 or before in the event of over-subscription.

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].