A bad week for BOV shareholders
This week the Malta Stock Exchange Index closed at 3,197.240 points a drop of 1.61 per cent. During the week, nine equities were negotiated, with seven closing in positive territory, and two closing in negative territory. San Tumas Shareholding plc gained most territory with an increase of 3.23 per cent in its share price which reached an all-time high of Eur3.20, as 24,673 shares were negotiated across five deals. On the other hand, Bank of Valletta plc lost most ground as its share price dropped by 11.15 per cent and closed at Eur2.63. During this week 46,300 Bank of Valletta plc shares were negotiated across 52 deals.
During this week 223 deals were registered on the stock exchange for a turnover of over Eur16.8 million. In the equity market 95 transactions were carried out for a total value of Eur355,982. In the corporate bond market 43 transactions for a total value of Eur209,981 were executed. While in the government bond market 55 transactions were executed for a value of just under Eur6.7 million. Twenty-eight transactions were carried out in the Treasury Bills market for a value of over Eur9.5 million.
On Monday Malta Government Stock prices close sharply lower as Central Bank of Malta Stockbroker revised its bid prices downward following a recovery in eurozone yields. Corporate bond prices closed lower also. Then on Tuesday the Central Bank of Malta Stockbroker raised its bid prices following Monday’s heavy declines. Mid-week some of the Malta Government Stocks were traded in high volumes. Most stocks lost ground as the Central Bank of Malta Stockbroker revised downward its bid prices in line with widening spreads between euro area government bonds. Corporate bonds remained generally stable. On Friday the Central Bank of Malta Stockbroker continued to lower bid prices as euro area yields widen to reflect weak economic data and an increase in national debt. During this week, long-term Malta government stocks bid prices lost considerable ground.
Bank of Valletta plc started the week by recovering last week’s losses on fresh demand. Bank of Valletta plc saw its share price appreciate by 1.28% to Eur2.998 as 2,215 shares were negotiated across seven deals. On Tuesday, Bank of Valletta plc was the only negative performer as its share price dropped by 0.13% to Eur2.994 as 1,829 shares were negotiated across four deals. On Wednesday, Bank of Valletta plc was the most active and lost most ground as its share price dropped by 4.81% to Eur2.85 when 25,160 shares changed hands across 19 deals. The share price of Bank of Valletta plc dropped by 3.51% to Eur2.75 as 6,238 shares changed hands across ten deals, on Thursday. On Friday the share price of Bank of Valletta plc lost most ground as it dropped by 4.36% to Eur2.63, a 58-month low as 10,858 shares were negotiated across 12 deals.
On Monday, HSBC Bank Malta plc was the only equity which lost territory as its share price dropped by 3.54% to Eur2.70 as 20,150 shares were negotiated across seven deals. On Wednesday, HSBC Bank Malta plc was the best performer as its share price increased by 3.70% to Eur2.80 as 7,635 shares were negotiated across five deals. On Thursday the share price of HSBC Bank Malta plc dropped by 0.36% to Eur2.79 as a total volume of 9,600 shares were negotiated across five deals. A single trade of 400 HSBC Bank Malta plc shares led to an increase of 1.25% in the share price which closed at Eur2.825 on Friday. During this week HSBC Bank Malta plc gained 0.93 per cent across 18 deals for a total volume of 37,785 shares.
Fimbank plc saw its share price rise by 1.38% on Wednesday, as it closed at $1.47 on a single deal of 1,400 shares.
On Monday, Go plc continued to appreciate in value as its share price increased by 1.08% to Eur1.87 as 11,514 shares changed hands across three deals. On Tuesday, the share price of Go plc remained stable at Eur1.87 on a single deal of 1,500 shares. Then on Friday, Go plc saw its share price lose 0.53% to Eur1.86 on a single deal of 1,500 shares. During the week Go plc appreciated by 0.54 per cent as a total of 14,514 shares were traded across five deals.
Maltapost plc traded higher on Monday which happened to be the last day to gain entitlement to the final dividend of Eur0.04 per share declared by the Company last week and which is to be approved by shareholders at the Annual General Meeting of the Company scheduled for February 17, 2009. Shareholders may receive the dividend either in cash or by the issue of new shares at the price of €0.77 per share. The share price of Maltapost plc increased by 1.23% to Eur0.82 as 3,000 shares were negotiated across six deals. For this week Maltapost plc gained 1.23 per cent as a total of 3,000 shares were negotiated across six deals.
The share price of Malta International Airport plc increased by 0.40% to Eur2.50 as 2,200 shares were negotiated across three deals, on Wednesday. On Friday, the share price remained stable at Eur2.50 as three trades were executed for a total volume of 800 shares. During this week Malta International Airport plc appreciated by 0.40 per cent as 3,000 shares were negotiated across six deals.
Plaza Centres plc was a negative performer on Wednesday, as its share price dropped by 2.89% to Eur1.68 when only 60 shares were negotiated in a single deal.
For the first time this year, a single deal of 1,000 shares led to an increase of 0.05% in the share price of Simonds Farsons Cisk plc which closed at Eur1.901 on Friday.
On Tuesday, MIDI plc announced its allotment policy in respect of its recent Eur40 million bond issue. The Company stated that applications having a nominal value up to and including Eur100,000 or GBP87,000 will be met in full. Applications with a nominal value in excess of Eur100,000 or GBP87,000, will have the first Eur100,000 or GBP87,000 met in full while 66.59% of the remaining portion will be allotted. The Company stated that all allotments will be rounded to the nearest Eur100 or GBP100. Final allocations will result in the listing of Eur31.7 million (nominal) 7% EUR Bonds 2016/18 and GBP7.2 million (nominal) 7% GBP Bonds 2016/18. Trading in both euro and sterling bonds is expected to commence next Monday, January, 26.
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].