MSE index up 2.56 per cent   

The Malta Stock Exchange Index recovered last week’s losses as it ended the week up 2.56 per cent. The MSE index is now at the 3,059 level but is still down 4.64 per cent year to date. Ten equities were negotiated with five closing in positive territory, three equities closing in negative territory and two remained unchanged.

A total of 291 deals were registered over the week with a turnover of over Eur11.7m. In the equity market, 121 transactions were executed for a total value of Eur275,162, while in the government bond market 75 transactions were registered for a value traded of over Eur7.75m. A total of 77 transactions were registered in the corporate bond market for a value of Eur747,293. In the treasury bills market a total of 15 transactions were registered for a total value of just over Eur2.89m.

The share price of Bank of Valletta plc (BOV) closed the week at Eur2.39, up a mere 0.04 per cent as 39,348 shares changed hands in 52 transactions. BOV was the most traded equity this week both in volume traded and deals executed. Next Thursday June 4, 2009 applications will be received from shareholders of BOV and authorised intermediaries in a pre-placement agreement, for the new ten-year 5.35% per annum Subordinated Bond issue. The bond issue will be for Eur35m and subject to an over-allotment option not exceeding Eur15m. Applications from the public will be received on Monday June 8, 2009.

HSBC Bank Malta plc (HSBC) regained all last week’s loss as the share price closed at Eur2.598, up 3.92 per cent on the week. The volume traded was 28,997 shares spread across 25 deals. The equity traded at a low of Eur2.569 and a high of Eur2.599.

Lombard Bank plc’s share price gained 1.89 per cent as a mere 3,435 shares changed hands in six deals. The equity closed the week at Eur2.70 having traded at a low Eur2.65, that is last week’s closing price.

FIMBank plc also had a quiet week as 2,600 shares changed hands in two transactions leaving the price unchanged once again at the $1.29 level.

GO plc registered a drop in its share price of 1.15 per cent, having also registered a loss of 0.85 per cent last week. The equity closed the week at Eur1.72 as 23,030 shares changed hands across 19 transactions. The share price traded at a high of Eur1.749 and a low of Eur1.72.

Simonds Farsons Cisk plc suffered a loss of 0.43 per cent in its share price to end this week’s trading session at Eur1.86. Only two transactions for a total volume of 3,000 shares changed hands.

The share price of Malta International Airport plc (MIA) ended the week up 6.97 per cent as 3,200 shares changed hands in three deals. The share price closed the week at Eur2.332 and was the best performer of the week despite the low volume traded.

On Friday, the MIA issued the interim directors’ statement in which they stated that the financial position of the Company remained sound. For the period January to April 2009 passenger traffic was down by 9.4%. The directors anticipate that this downward trend will continue throughout 2009, however the company has embarked on an investment programme to diversify its source of revenues by opening up retail and food and beverage outlets for the non-travelling public.

International Hotel Investments plc registered another increase in its share price, gaining 5.26 per cent as 38,000 shares changed hands on nine deals. The equity closed at the Eur1.00 level having traded at a low of Eur0.95.

MaltaPost plc’s share price remained unchanged again this week at Eur0.71 and only two transactions were executed for a volume of 1,896 shares.

MaltaPost plc published their interim financial results for the period ending  March 31, 2009. The company announced a profit before tax of Eur1.92m compared to Eur2.60m for the same period last year. The company commented that the drop was mainly due to the fact that in the same period last year the company benefited from increased volume generated as a result of the general election and the issue of philatelic material commemorating the introduction of the euro.  

RS2 Software plc’s share price fell by 4.17 per cent and closed at Eur0.69, as one transaction of 5,000 shares changed hand.

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].