Positive week on the MSE â

Positive week on the MSE — BOV up 16.36%

The Malta Stock Exchange Index ended the trading week at 2,825.915 points, increasing by 2.84% from last week, reducing the year to date loss from 14.35% to 12%. The index decreased only on Friday by 2.797%.

During the week, eight equities were negotiated, with four closing in positive territory, and four others closing in negative territory.

During the week a total of 365 deals were registered on the Malta Stock Exchange with a turnover of over Euro 14.56m. In the equity market, 232 transactions were executed for a total value of over Euro 1.79m, while in the government bond market 57 transactions were carried out for a total value of over Euro 3.38m. The corporate bond market saw 60 deals changing hands for a total value of Euro 388,974, while 16 transactions were carried out in the treasury bills market for a total value of over Euro 9m.

In the banking sector, three out of the four banks registered a rise in their share prices. Bank of Valletta plc (BOV) was the best performing equity during the week, registering a rise of Euro 0.36. The equity closed at Euro 2.56, with 70,841 shares changing hands over 87 deals, having traded at a high of Euro 2.60 and a low of Euro 2.354. BOV decreased only on Friday, having depreciated by Euro 0.04. BOV’s highest increase was on Monday, as it increased by 7%. The equity is now at a year to date loss of almost 11.5%.

Lombard Bank plc registered an increase of 8.16% in its share price. Lombard closed at Euro 2.65, a rise of Euro 0.20 on the week, after trading 509,097 shares across 19 deals, for a total value of over Euro 1.28m.

HSBC Bank Malta plc (HSBC) also had a positive week, as it increased by Euro 0.083, or 3.52%. The equity closed the week at Euro 2.44, as 112,051 shares changed hands over 94 deals. HSBC traded at a high of Euro 2.60 and a low of Euro 2.43.

FIMBank plc was the only banking equity to suffer a loss in its share price. FIMBank decreased marginally by 1.16 per cent, or US $0.016, closing the week at US $1.364, trading 1,450 shares across three transactions.

Malta International Airport plc (MIA) was the other equity to register an increase in its share price, as it appreciated by Euro 0.11, or 5.34%. The equity closed the week at Euro 2.17, with 1,700 shares changing hands on five deals. MIA increased both on Monday (increase of 0.49%) and Tuesday (increase of 4.83%), while remaining unchanged on Friday.

GlobalCapital plc was the worst performing equity during the week, losing an incredible Euro 0.991 on just one deal of 480 shares on Friday, having closed at Euro 1.00, a decrease of almost 50% from its previous share price.

International Hotel Investments plc (IHI) was one of the equities to register a loss in its share price, closing the week at Euro 0.73, a loss of 3.82%, or Euro 0.029, on the week. IHI traded 2,990 shares over two deals.

GO plc decreased marginally this week, as it lost Euro 0.001 from its previous share price, having traded 23,529 shares across 21 transactions. The equity decreased both on Monday and on Wednesday, but recovered Euro 0.006 on Thursday. GO closed the week at Euro 1.549.

During the week, 6pm Holdings plc announced that the Board of Directors are scheduled to meet on 28 April 2009 to consider and approve the Company’s Final Audited Accounts for the financial year ended 31 December 2008, and consider the declaration or otherwise of a dividend to be recommended at the Annual General Meeting.

On Wednesday, Plaza Centres plc announced that four resolutions will be presented for consideration at the Ninth Annual General Meeting of the Company being held on Wednesday April 22, 2009. Among these resolutions, the Annual Report and Financial Statements for the year ended 31 December 2008, comprising of the Financial Statements, Directors’ Report and Auditors’ Report, will be received and approved, and the meeting will approve the payment of a Net Dividend of Euro 0.0791 (after taxation) representing a net amount of Euro 744,647 as recommended by the Board of Directors. On Thursday, the Company then announced that at the Annual General Meeting the shareholders approved all the ordinary resolutions on the Agenda.

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].