MSE Trading Report for week ending April 3, 2009

Mixed week for local shares as MSE Index falls

The Malta Stock Exchange Index ended the trading week at 2,657.203 points, falling by 1.14 per cent from last week, continuing to increase the year to date loss to over 17 per cent. The index increased by 0.388 per cent on Monday, but then decreased throughout the rest of the week.

During the week, eight equities were negotiated, with three closing in negative territory, four closing in positive territory, and one remaining unchanged.

This week a total of 222 deals were registered on the Malta Stock Exchange with a turnover of over €3.87m, including two put-through trades of €5,716. In the equity market, 115 transactions for a total value of €270,415 were executed, while in the government bond market 49 transactions were carried out for a total value of €525,740. The corporate bond market saw 40 deals changing hands for a total value of €348,589, while 16 transactions were carried out in the treasury bills market for a total value of just under €2.72m.

HSBC Bank Malta plc was the worst performer for this week. The equity traded 32,421 shares over 30 transactions, closing the week at €2.08, a decrease of 4.37 per cent, or €0.095. This week HSBC traded at a low of €2.08 and a high of €2.151.

Bank of Valletta plc (BOV) continued to lose ground this week, after last week’s decrease of 1.36 per cent. BOV closed the week at €2.08, a decrease of €0.09, or 4.15 per cent, after trading 61,313 shares across 55 deals. BOV traded at a high of €2.18 and a low of €2.08.

Lombard Bank plc also saw a decrease in its share price this week, having traded 400 shares over just one deal. Lombard’s share price depreciated by 3.95 per cent, closing the week at €2.43, a loss of €0.10.

The share price of 6pm Holdings plc remained unchanged this week, as 1,500 shares were traded on two deals, closing the week at £0.59.

Malta International Airport plc (MIA) was the best performer for this week, as it registered an increase of 7.5 per cent in its share price, having closed the week at €2.18. MIA saw 2,000 shares being traded across two deals, registering a rise of €0.152. The equity traded at a high of €2.18 and a low of €2.15.

FIMBank plc increased just on Monday, and remaining unchanged on Friday, as it registered an increase of €0.09 in it share price. FIMBank closed the week at USD1.39, having registered a rise of 6.92 per cent during the week. During the week, the equity saw 12,575 shares changing hands across seven deals. On Wednesday, FIMBank plc announced its agenda for the Annual General Meeting, to be held on Thursday 23 April, 2009. Among other resolutions, the Board of Directors will be proposing the payment of a net dividend of USD3.03m (representing US cents 2.251215 per ordinary share in issue).

GO plc closed the week at €1.50, therefore appreciating by €0.05, or 3.45 per cent, with 34,396 shares being traded on 17 transactions. GO traded at a high of €1.50 and a low of €1.43.

MaltaPost plc traded just on Friday, as it saw 1,500 shares changing hands over just one deal. The equity closed at €0.728, thus registering a rise of 1.11 per cent, or a rise of €0.008.

On Thursday, the Governing Council of the ECB decided that the interest rate on the main refinancing operations of the Eurosystem will be decreased by 25 basis points to 1.25 per cent (starting from the operation to be settled on 8 April 2009), the interest rate on the marginal lending facility will be decreased by 25 basis points to 2.25 per cent (with effect from 8 April 2009), and that the interest rate on the deposit facility will be decreased by 25 basis points to 0.25% (with effect from 8 April 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].