Bank of Valletta share price up 3.75%

This week the Malta Stock Exchange Index closed at 3,227.670 a gain of 0.61 per in the first week of trading in 2009.  During the week, seven equities were negotiated, with two closing in positive territory, four closing in negative territory and one remaining stable. Bank of Valletta plc gained most territory with an increase of 3.75% to Eur3.60 in its share price while Fimbank plc lost most ground as its share price dropped by 1.76% and closed at $1.45.

During this week 266 deals were registered on the stock exchange for a turnover of over Eur9.6million.  In the equity market 121 transactions were carried out for a total value of Eur311,177.  In the corporate bond market 48 transactions for a total value of Eur450,255 million were executed. While in the government bond market 73 transactions were executed for a value of over Eur1.8 million.  Twenty-four transactions were carried out in the Treasury Bills market for a value of over Eur7.1 million.    

On Monday Malta Government Stocks closed lower amid high trading activity as the Central Bank of Malta Stockbroker decreased its bid prices in line with a recovery in the yields of the eurozone.  Towards the end of the week Malta Government Stocks prices continued to drop as the Central Bank of Malta stockbroker continued to revise downward his indicative bid prices in line with another rise in eurozone yields. On Friday out of six Government Stocks traded, five traded at a higher price although on the week most government stocks were down particularly the longer dated bonds.

Next Tuesday, January,13 Midi plc will open to the public its bond issue of Eur30 million bonds available in euro and in sterling.  The 10-year bonds carry a coupon of 7% per annum and are due to be redeemed on December, 15, 2008.  The Company reserves the right to increase the amount up to an equivalent of Eur10 million.

During this week Bank of Valletta plc which as mentioned above was the best performer appreciated by 3.75% to Eur3.60 as 70 deals were executed for a total volume of 48,301 shares for a total value of Eur173,034.  The equity was the most active most probably the result of the fact that shareholders of Bank of Valletta plc as at next Monday, January,12, will be eligible to the 1 for 5 bonus share issue. However, the increase was not in a straight line as on Wednesday and Thursday the share price dropped back to Eur3.56, to go up again on Friday.

The share price of HSBC Bank Malta plc remained stable at Eur2.70 as 36,422 shares changed hands across 28 deals for a total value of Eur96,803. On Wednesday, HSBC dropped by 3.7% to a fresh 47-month low of €2.60.

After ending the year with a rally of 7%, on Monday Fimbank plc was traded 1.8% lower than the previous price.  On Wednesday Fimbank announced that its Board of Directors is scheduled to meet on 9 March 2009 to consider and approve the Company’s Annual Financial Statements for the financial year ended 31 December 2008 and consider the declaration of a final dividend to shareholders. This week Fimbank plc dropped by 1.76% to $1.45 on two transactions for a total volume of 2,400 shares.

On Monday Malta International Airport was traded for the first time since December,10, 2008.  During this week MIA dropped by 0.40% to Eur2.49 as 3,500 shares were negotiated across four deals.

RS2 Software plc closed marginally lower on a single trade of 6,000 shares at Eur0.799, that is, lower than the Eur0.80 IPO level. 

Maltapost plc lost 0.12% to Eur0.817 as 2,021 shares were negotiated across two deals for a total value of Eur1,651.

Go plc was a positive performer during the week as its share price increased by 0.46% to Eur1.76 when 13,463 shares were negotiated across 28 deals for a total value of Eur23,638.

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]