Banks pull down MSE index on Friday.
MSE Trading Report for week ending 19th December 2008
Banks pull down MSE index on Friday.
This week the Malta Stock Exchange Index closed at 3,278.842 points, at a loss of 1.04% over last week. Since the beginning of the year to date the Index has lost 33.60%. During the week, seven equities were negotiated, with six equities closing in negative territory and one closing in positive territory. Shares of Simonds Farsons Cisk plc lost most territory as its share price dropped by 27.76% to Eur1.90 while Maltapost plc was the only positive performer with an appreciation of 1.25% and closing at Eur0.81.
A total of 270 deals were registered on the stock exchange for a turnover of over Eur5.8 million. In the equity market 103 transactions were carried out for a total value of Eur283,592. In the corporate bond market 35 transactions for a total value of Eur302,091 were executed. While in the government bond market 121 transactions were executed for a value of over Eur1.2 million. Eleven transactions were carried out in the Treasury Bills market for a value of over Eur 4 million.
This week Bank of Valletta plc was the most active and lost 2.51% to Eur3.50 as 42,786 shares were negotiated across 45 deals for a value of Eur153,112. On Tuesday the share price of Bank of Valletta plc appreciated by 0.5% as investors enter the market to gain right to the 1 for 5 bonus share issue effective on 15 January. On Wednesday during its Annual General Meeting shareholders of Bank of Valletta plc approved a number of resolutions including the payment of a final dividend of Eur0.0675 per share and the 1 for 5 bonus share issue together with the renewal of the share buy-back option.
HSBC Bank Malta plc saw its share price fall by 3.51% as it closed at Eur2.75 when 31,540 shares were negotiated across thirty deals. On Monday HSBC Bank Malta plc continued to fall after last week’s decline of 1.7%. It started the week with a drop of 0.35% and closed the day’s session at Eur2.84 as 4,650 shares changed hands across four deals. Trades during Tuesday’s and Wednesday’s sessions left the share price of HSBC unchanged. Then on Friday, the share price dropped by 3.34% to Eur2.75 as 8,565 shares were negotiated across ten transactions.
On Monday the share price of Fimbank plc lost 0.72% to $1.38 as 1,720 shares were traded across two transactions, following last week’s appreciation in price by 6.9%.
As mentioned above Simonds Farsons Cisk plc lost most territory during the week as its share price dropped by 27.76% to Eur1.90 when 2,950 shares were negotiated across seven deals. On Wednesday Simonds Farsons Cisk plc saw its share price decrease by 23.95% to Eur2.00 as 1,100 shares were negotiated across two deals. This follows the recent removal of the trade range. Selling pressure continued to increase after the publication of the Company’s Interim Statement of November,28. The Directors notified investors of a material decline in the Group’s profitability for the year ending 31 January 2009. Although there were increased turnover levels across all operational units except from carbonated soft drinks, the Group suffered from illicit importation in the soft drink sector.
On Wednesday a single deal of 1,491 shares led to a drop of 0.56% in the share price of International Hotel Investments plc. The share price closed the session at Eur0.895 a fresh 28-month low.
The share price of Go plc dropped by 2.37% to Eur1.85 as 5,407 shares were negotiated across ten deals.
On Wednesday Medserv plc had its trade range temporarily removed.
As mentioned above Maltapost plc was the only positive performer during the week with an increase of 1.25% to Eur0.81 in its share price. On Wednesday the share price of Maltapost plc remained stable at Eur0.80 as three deals for a total volume of 15,091 shares were executed. On Thursday five deals for a total volume of 12,801 shares led to an increase to Eur0.81 in the share price. The Company is to publish its full-year results on 15 January 2009.
This article which was compiled 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 contact JMFS at 67/3, South Street, Valletta or on Tel: 21224410 or email [email protected].