The Malta Stock Exchange (MSE) ended the holiday week at 2646.803 points, a meager 0.38% loss despite a slight recovery on Thursday. During the week, eight equities were traded, with three ending the week higher, four equities closing lower and one remaining unchanged. Go plc, HSBC plc and BOV plc gained while Lombard plc remained stable. Simonds Farsons plc performed worst, falling 7.41% to close at EUR1.75.

This week, 216 deals worth slightly over EUR6.1 million took place on the MSE. There were 83 transactions for EUR196,081 in the equity market, 35 deals for EUR268,919 in the corporate bond market, EUR1.54m changed hands in 88 transactions in the government bond market, while only 6 deals wroth over EUR4m took place in the Treasury bills market.

Bank of Valletta plc (BOV) posted a gain of 0.82% this week as 30,660 shares were traded in 30 deals. BOV had a fairly mixed week with little changes in its price throughout the four trading days.

HSBC Bank Malta plc (HSBC) was the most traded equity as 43,037 shares changed hands in 36 deals. The week started with decent trading keeping the price unchanged. Tuesday and Wednesday saw lower volume and a mixed direction in the price. The equity price however never closed below EUR2.08, last week’s closing price. Thursday was the most active day for this equity, with the price heading up and closing at EUR2.125, which meant a rise of 2.16% on the week.

GO plc’s share price increased by 3.33% this week, from EUR1.50 to EUR1.55, as a total of 16,000 shares changed hands across 5 trades.

On Tuesday, a single trade for a volume of 350 shares in International Hotel Investments registered a loss of 2.5% bringing the closing price to EUR0.78

Fimbank plc’s share price decreased by 6.47% from USD1.39 to USD1.30 in one single trade on Thursday of 1,942 shares.

Another equity registering a decrease of 5.96% this week was Malta International Airport plc whose price fell to EUR2.05 from EUR2.18 at the start of the week. The largest decrease in price was registered on Monday when a total of 2,891 shares were traded. Two single trades on Tuesday and Wednesday of 350 shares and 1,400 shares respectively registered no movement in the price of Eur2.05.

 Lombard Bank Malta plc maintained its share price at EUR2.43 despite three deals of 1,984 shares on Thursday.

Simonds Farsons Cisk plc was the week’s worst performer declining by 7.41% on light volume on the last day of the short trading week as 366 shares changed hands on a single deal.

In a company announcement, Middlesea Insurance announced that the Board of Directors is scheduled to meet on Monday April 27, 2009 to approve the financial statements for the year ended 31 December 2008 and to consider the declaration of a final dividend.

Similarly, Corinthia Finance plc issue an announcement that the Board of Directors will be meeting to approve the Company’s Financial Statements as at 31 December 2008.

This week the Board of Directors of Gasan Finance plc announced the issue of a 6% Bond due 2014-2016 for an aggregate principal amount of EUR15m with an option to increase up to EUR20m in case of over-subscription.

The proceeds of the bond will be used as follows:

i)                    to redeem the outstanding principal amount of EUR10.87m of the 6.4% Gasan Finance Bond 2008/2011;

ii)                   for the general funding of the Issuer;

iii)                 to refinance part of the debt of the Group Companies; and/or

iv)                 directly or indirectly, in being on-lent to Group Companies.

Preference will be given to existing bond holders and employees of the Group Companies. The issue will open for investors on April 27, 2009, and the pre-prepayments agreements with intermediaries will be held on April 24, 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].