Bank of Valletta share price up 8.2 per cent
MSE
Trading Report for week ending June
05 2009
Bank of Valletta share price up 8.2 per cent
The Malta Stock
Exchange Index gained 1.48 per cent to closed at 3086.62 and is now only
3.79 per cent down year to date.
On Monday the index had its
best day as it opened the week with a positive move of 0.664%. On Tuesday and
Wednesday the index gained another 0.20% and 0.369% respectively. The positive
trend continued on Thursday as the index increased of 0.27%. However, the end
of week session saw a slight drop in the index of 0.027%.
A total of 259 deals were registered over the week
with a turnover of just over Eur2.84m. In the equity market 133 transactions were executed for a total value of Eur645,724,
while in the government bond market 46
transactions were registered for a value traded of Eur872,298. A total of 65
transactions were registered in the corporate
bond market for a value of Eur515,822. In the treasury bills market a total of 14 transactions were registered
for a total value of Eur 807,948.
The share price of Bank
of Valletta plc (BOV) closed the
week up a staggering 8.21 per cent. On Monday BOV was up 4.12% and on Tuesday
it was up again by another 1.18%. On Wednesday as 14,642 shares changed
hands the share price climbed another 2.33% while on Thursday six trades
of 4,950 shares resulted in an increase of 0.38%. The volume traded this week
reached 56,667 shares across 58 deals.
HSBC
Bank Malta plc (HSBC) also ended the week in positive territory as the
share price increase by 0.78%. This increase was registered
on Thursday as
8,090 shares changed hands in eight deals. The equity ended the week at Eur2.60
as 48,940 shares changed hands on 36 deals.
Lombard
Bank plc was the only loser in the banking sector as the share price fell by 3.7%
to close the week at Eur2.60. Infact on Tuesday Lombard Bank plc shares were the only equities
to fall in price as 1,100 shares were exchanged in a single trade. Once again on Friday the equity was the worst
performer of the day, shedding 1.89% on a single trade of 1,500 shares executed
at Eur2.60.
On
the other hand FIMBank plc retained last weeks price at
$1.28 as 317,500 shares changed hands in 10 deals. This week, FIMBank plc announced that the Board of Directors will be meeting on Thursday, August 13, 2009
to approve the half-yearly financial report for the six months period ending June 30, 2009 and to
consider the payment of an interim dividend, if any.
Go
plc was another positive performer this week as the share price was up 1.16%
as 33,685 shares changed hands across 22 deals. On Friday GO plc was the only gainer in the equity market as it gained 0.64% on a
volume of 6,000 shares.
The best performer on Tuesday was GlobalCapital plc which gained 3.33% over its previous closing
price, as only 100 shares changed hands in a single deal. The equity had last
traded on May 7, 2009.
The share price of Malta International Airport plc (MIA) ended the week in negative
territory as the share price fell by 0.91% to Eur2.18 as
on Monday a single trade of 1,500 shares was executed.
On Wednesday, Simonds Farsons Cisk plc was the day’s worst performer as only 400
shares changed hands in a single deal, closing at Eur1.85, a loss of 0.54%
On Thursday, Tumas Investments plc announced a Eur20
million bond issue at a coupon of 6.25% per annum, with an option to increase
the amount by a further Eur5 million in the event of over-subscription. The
bonds have a final maturity date of July 31, 2016 but may be redeemed between July 31, 2014 and July 30,2016.
The bonds are guaranteed by Spinola Development Company Ltd (SDC), the owner
and operator of the Portomaso project which incorporates the Hilton Malta hotel
and various commercial amenities. The proceeds from the bond issue will be
advanced to the guarantor and mainly used to refinance existing banking
facilities.
The Bonds constitute the general, direct,
unconditional, unsubordinated and unsecured obligations of the Issuer and shall
at all times rank pari passu with other outstanding unsecured obligations.
The offer to the public will open on July 3 while the
pre-placement agreements by intermediaries will be placed on July 1, 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].