Treasury announces MGS issue as MSE recovers 1.38%

This week the Malta Stock Exchange Index closed at 3,519.719 points, at a gain of 1.38% over last week.  Since the beginning of the year the Index lost 28.72%.  During the week, fourteen equities were negotiated, with four closing in positive territory, eight in negative territory and two remaining stable.  During the week Go Plc was the best performer whilst Middlesea Insurance plc lost most territory.

A total of three hundred and three deals were registered on the stock exchange for a turnover of over Eur5.3 million.  In the equity market two hundred and one transactions were carried out for a total value of Eur878,395.  In the corporate bond market seventy-six transactions for a total value of Eur454,774 were carried out. Whilst in the government bond market sixteen transactions were executed for a value over Eur1.6 million.  Ten transactions were carried out in Treasury Bills for a value of over Eur2.3 million.

On Monday, the Treasury announced the issue of two new Malta Government Stocks for a total amount of Eur50 million subject to an over-allotment option of up to a further Eur15 million. Whilst the 5.1% MGS 2014 III will be offered at Eur101.50 for every Eur100 nominal giving a yield to maturity of 4.79% per annum, the 5.0% MGS 2021I will be offered at Eur99.50 for every Eur100 nominal giving a yield to maturity of 5.05% per annum.  Subscriptions will be available for the public as from Monday 20th October and will close on Wednesday 22nd October 2008.

The most active during the week was the banking sector where both Bank of Valletta plc and HSBC Bank Malta plc ended the week in positive territory as they appreciated by 2.78% and 3.45% respectively.  The share price of Bank of Valletta plc closed at Eur3.70 from Eur3.60 as 79,828 shares changed hands across seventy-four deals, for a total value of Eur293,846. The equity traded at a low of Eur 3.549 and at a high of Eur 3.75.  The share price of HSBC Bank Malta plc closed at Eur3.00 from Eur2.90 at the end of the previous week as 75,932 shares changed hands across sixty-one deals for a total value of Eur222,428. HSBC shares traded at a low of Eur 2.849 during the week. Lombard Bank Malta plc lost 0.71% and closed at Eur2.949 whilst FIMBank plc lost 1.84% as it closed at $1.60. The volumes traded were 28,219 shares and 8,550 shares respectively.

Go plc saw their share price increase by 5.00% during this week as it closed at Eur2.10 from Eur2.00 last week.  Twelve transactions were carried out as 11,441 shares changed hands for a total value of Eur23,611.  Simonds Farsons Cisk plc also increased in value as its share price appreciated by 1.15% and closed at Eur2.63.  This as only 1,500 shares changed hands across three deals.

Middlesea Insurance plc experienced a decline in its value as its share price dropped by 6.75% to Eur2.75.  This was the result of just 2,000 shares changing hands across three deals for a total value of Eur5,520.  The share price of Malta International Airport plc dropped by 5.17% and closed at Eur2.75 on six transactions for a total volume of 17,325 shares.  RS2 Software plc experienced a drop of 2.19% from Eur 0.821 to Eur0.803 on a single deal of 30,000 shares.  The share price of Crimsonwing plc dropped by 0.40% and closed at Eur0.498 as three deals were executed for a total volume of 49,000 shares.  MaltaPost plc saw its share price drop by 0.24% from Eur0.82 to Eur0.818 as 16,000 shares were traded across seven deals.

Grand Harbour Marina plc saw its share price decrease by 0.05% from Eur2.20 to Eur2.199 on four deals of a total volume of 15,300 shares.  On Wednesday Grand Harbour Marina plc issued its Interim Directors’ Statement in which the Directors confirmed the sale of a second 30 metre super-yacht berth also concluded for a value of €0.5 million. This was initially announced on 18 September through the Company’s majority shareholder Camper & Nicholsons Marina Investments Ltd.  

The share price of Santumas Shareholdings Plc remained stable at Eur3.00 on a single deal of 477 shares.  Likewise the share price of International Hotel Investments plc remained stable at Eur0.98 despite 124,712 shares changing hands across eleven deals for a total value of Eur121,078.

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].