MSE Trading Report weekly round-up for the week ending 10th October 2008

Local investors focus on the fixed income market as equities continue to fall.


The Malta Stock Exchange Index closed at 3,471.978 points, losing another 4.67% per cent on the week, as the international markets continue to fall at a much faster pace than the local index. This week, fourteen equities were negotiated, with only one equity closing in positive territory, ten equities closing in negative territory and two equities remaining unchanged.

On Wednesday, the Governing Council of the ECB decided that the minimum bid rate on the main refinancing operations of the Eurosystem will be reduced by 50 basis points to 3.75 %.

A total of three hundred and eighteen trades were registered on the stock exchange, with a total turnover EUR25.15 million. In the equity market, two hundred and five deals were executed for a total value of EUR800,478. In the corporate bond market, fifty two deals were carried out, for a value of EUR420,576, whilst forty eight deals were executed in government bonds for a total value of over EUR21.254 million. In the Treasury Bills market, thirteen deals were executed for a total value of nearly EUR2.67 million.


In the banking sector, Bank of Valletta plc, registered a fall of 8.86 per cent on the week,  as 42,892 shares changed hands over fifty eight deals. BOV traded at a high of EUR3.94 and a low of EUR3.50 but recovered to close at EUR 3.60. In fact the share price of BOV gained EUR0.10 on Friday. HSBC Bank Malta plc registered a fall of 3.33 per cent in its share price, closing the week at EUR 2.90, as 63,612 shares changed hands on fifty nine deals. The equity traded at a high of Euro3.00 and a low of Euro2.75. Lombard Bank plc also lost some ground, as it registered a loss of 1 per cent on the week. The closing price for the week was EUR2.97, as 37,895 shares traded over nine deals. FIMBank plc was the other banking equity to register a decrease in its share price, as it closed the week at USD1.63, losing 11.41 per cent, with a volume of 29,100 shares changing hands over six deals. GO plc registered a loss of 9.09 per cent to close the week at EUR2.00. The total volume traded amounted to 32,815 shares across thirty three deals. GlobalCapital plc also lost 9.50% on one deal of 1000 shares. Middlesea Insurance plc also traded once as 1000 shares changed hands as the price fell 0.03% closing at EUR 2.949. Likewise Plaza Centres plc also traded once as 1,000 shares changed hands at EUR 1.75. International Hotel Investments plc suffered a drop of 2.00 per cent on its share price this week and closed the week at EUR0.98. Thirteen transactions were registered for a total volume of 96,488 shares. MaltaPost plc also lost last week’s gain as its share price fell by 2.84 per cent and closing at EUR0.82 with five transactions being registered for a volume of 37,828 shares. Malta International Airport plc traded six times and closed the week down 3.30% at EUR 2.90 as 15,000 shares changed hands.

Crimsonwing plc closed the week unchanged at EUR0.50 as 33,300 shares were traded in over four deals. Grand Harbour Marina plc closed unchanged at EUR2.20 as 18,200 shares changed hands on 8 deals.

Finally, on a positive note, the only equity to close up this week was Santumas plc which traded a mere 123 shares and gained 13.21% on the week.

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].