The Malta Stock Exchange Index closed the week at 2,776.066 points, at a loss of 1.52% over the previous week and thus increasing the year to date loss to 13.47%. During the week, 12 equities were negotiated, with nine closing in negative territory, one closing in positive territory and two remaining stable. Lombard Bank Malta plc was the best performer as its share price increased by 2.48% and closed the week at Eur2.521 while Medserv plc lost most ground as its share price dropped by 7.68% and closed at Eur3.69 on a single trade of just 500 shares which took place on Friday.

During the week 265 deals were registered on the stock exchange for a turnover of over Eur4.6m.  In the equity market 133 transactions were carried out for a total value of Eur413,383.  In the corporate bond market 69 transactions for a total value of Eur522,652 were executed. While in the government bond market 56 transactions were executed for a value of over Eur1.5m.  Seven transactions were carried out in the Treasury Bills market for a value of over Eur2.1m.    

On Monday indicative Malta Government Stock prices increased as eurozone yields moved lower.  On Tuesday indicative Malta Government Stock prices were revised downward as eurozone yields edged higher.  There was a mixed performance in the corporate bond market.  On Thursday there was low trading activity in the bond market as investors were awaiting further details in relation to the new bond issues.  On Friday several stocks were traded with most corporate stocks remaining stable and most government bonds gaining ground.

This week the Treasury announced the issue of two new Malta Government Stocks for a total aggregate amount of Eur70 million subject to an over-allotment option of up to a further Eur25 million. The 3.6% MGS 2013 (IV) will be issued at Eur100 while the 5.0% MGS 2021 (I) will be issued at Eur101.50 with a yield to maturity of 4.84%. Subscriptions will open on Monday, March,9 and will close on Wednesday, March,11 for applications which do not exceed Eur 100,000. applications in the form of sealed bids(auction) will close on Friday, March,13. 

On Monday Bank of Valletta plc (BOV) was the most active equity of the day as 60,667 shares were negotiated across 30 deals resulting in an increase of 0.09% in the share price which closed at Eur2.25. On Tuesday BOV dropped by 1.78% to Eur2.21 as 15 deals were executed for a total volume of 19,710 shares. The share price of BOV appreciated by 0.45% to Eur2.22 as five deals were executed for a total volume of 9,500 shares on Wednesday.  On Thursday BOV dropped by 0.05% to Eur2.219 as 6,700 shares were negotiated across nine deals. On Friday BOV dropped by 0.86% to Eur2.20 as 5,000 shares were negotiated across four transactions. In total BOV traded 63 times this week as volume reached 101,577 as the equity lost 2.14% on the week.

On Monday HSBC Bank Malta plc (HSBC) saw its share price drop by 1.79% to Eur2.20 as five deals were executed for a total volume of 3,120 shares. On Tuesday the Bank was the only positive performer of the day as its share price increased by 1.82% to Eur2.24 as 2,850 shares were negotiated across five transactions. On Wednesday it then lost 0.45% to Eur2.21 as 14,570 shares were negotiated across eight deals. On Thursday the share price of HSBC dropped by 0.45% as four deals were executed for a total volume of 6,050 shares. On Friday HSBC was the only positive performer as its share price increased by 0.45% to Eur2.21 as 4,250 shares changed hands across four deals. HSBC this week lost 1.34% as 31,440 shares changed hands on 27 deals.

On Monday Lombard Bank Malta plc (Lombard) was a positive performer as its share price appreciated by 0.81% to Eur2.48 on a single deal of 4,500 shares. On Thursday Lombard was the only positive performer of the day as its share price increased by 1.65% to Eur2.521 as 11,200 shares were negotiated across six deals. This week Lombard traded 7 times on a volume of 15,700 shares.

On Monday the share price of Go plc (Go) dropped by 0.07% to Eur1.50 as 7,550 shares were negotiated across four deals. On Tuesday Go retained this price on a single deal of just 400 shares. On Thursday Go retained its price of Eur1.50 as 22,000 shares changed hands across ten deals. Three trades for a total volume of 4,375 shares left the share price of Go stable at Eur1.50 on Friday. Go this week fell by 0.07% on a total of 18 deals as 34,325 shares changed hands.

On Monday Malta International Airport plc (MIA) lost most ground among the traded equities as a single deal of just 200 shares led to a drop of 2.04% in the share price which closed at Eur2.40. On Tuesday a single deal of 1,000 shares led to a drop of 1.25% in the share price which closed at Eur2.37, making it the equity which most lost territory during the day. The share price of MIA fell 3.27% this week on a mere two deals.

On Monday a single deal of 300 shares led to a drop of 0.47% in the share price of Simonds Farsons Cisk plc which closed at Eur1.89.

On Wednesday the share price of Maltapost plc (Maltapost) dropped by 1.19% to Eur0.75 as 6,595 shares were negotiated across five transactions. On Thursday Maltapost dropped by 0.67% to Eur0.745 on a single deal of 145 shares.  On Friday a single deal of 200 Maltapost shares left the share price unchanged at Eur0.745.

On Tuesday Middlesea Insurance issued a statement in which it revealed that the company experienced a material deterioration in the technical performance of a certain class of business during the last quarter of 2008. Together with the current financial difficulties which obviously affected the investment results of the Group, results for the year 2008 are expected to be below expectations. Following this announcement, on Wednesday Middlesea Insurance plc (MSI) lost most ground among the traded equities as its share price dropped by 4.85% to Eur2.45 when 5,000 shares changed hands across three deals.

On Wednesday Datatrak Holdings plc published its results for the six months ending December,31, 2008. The Group registered a turnover of Eur1.5m during the period under review, marginally higher than that recorded in the same period in the previous year. However due to a substantial exchange rate loss and the postponement of IT investments by the Group’s clients, Datatrak incurred a pre-tax loss of Eur0.43m when compared to Eur0.36m in the six months ended December,31, 2007.

On Thursday two deals for a total volume of 100 shares led to a drop of 2.47% in the share price of International Hotel Investments plc which closed at Eur0.829.

On Friday a single deal of 1,300 shares left the share price of Plaza Centres plc unchanged at Eur1.70.

RS2 Software plc was negotiated on Friday however, the share price remained unchanged at Eur0.75 on a single deal of 1,500 shares.

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].