MSE Trading Report for week ending October 30,

2009

BOV profits return to the EUR 80m level

Bank of Valletta plc yesterday announced that the Group

registered a profit before taxation of EUR 81.80 million for the year ended September 30, 2009 compared

to EUR 40.6 million in 2008. This staggering rise of 101.51 per cent in

profitability resulted from the gradual stabilisation of conditions in the

global financial markets in the second half of the year, and the consequent

write back of some of the unrealised fair value markdowns on BOV’s Financial

Markets portfolio previously recognised in the Bank’s accounts for the

financial year of 2008 and the first six months of the financial year of 2009.

Earnings per share for the financial year increased from EUR 0.163 to EUR 0.306.

The

Board of Directors further resolved to recommend for the approval of the Annual

General Meeting the payment of a final Gross Dividend of EUR 0.215 per share

making for a final Net Dividend of EUR 0.13975 per share which, if approved by

the Annual General Meeting, would make for a total gross dividend for the year

of EUR 0.25 per share (total net dividend per share EUR 0.1625). The final

dividend, if approved at the Annual General Meeting, will be paid on the December 17, 2009 to the

shareholders on the Bank’s share register, at the Central Securities Depository

of the Malta Stock Exchange as at the close of business on Tuesday, November 10, 2009.

A bonus

share issue of one share for every four shares held which will be allotted to

shareholders on the Bank’s share register as at close of business on January 15, 2010. The bonus

issue will be funded by a capitalisation of reserves amounting to EUR 40

million. Application will be made for the necessary authorisations concerning

the listing of the bonus share issue on the Malta Stock Exchange.

Meanwhile,

the Malta Stock Exchange Index gained

0.31 per cent this week, closing the week at 3,123.837 points. The Index has a

mixed week, registering gains on three trading sessions. The highest rise was

registered yesterday, an increase of 0.939 per cent, while the highest loss was

registered on Tuesday, with a decline of one per cent. Nine equities were

traded this week, with three closing in positive territory, one remaining

unchanged, and five closing in negative territory.

A total

of 309 deals were registered over the week with a turnover of over EUR 5.39m. In

the equity market 148 deals were

executed for a total value of EUR 419,271. This week, the corporate bonds

exceeded both in volume and value traded government bonds. In the corporate bond market, 110 transactions were registered for a

value traded of over EUR 1.08m, while a total of 43 deals were registered in

the government bond market for a

value of EUR 776,980. In the treasury

bills market, a total of eight transactions were registered for a total

value of over EUR 3.11m.

FIMBank plc was the best performing equity this week, recouping

3.64 per cent from last week’s loss. FIMBank share price increased on Monday

despite having traded on Tuesday and Thursday. The equity closed the week at USD

1.14, a rise of USD 0.04, as 34,105 shares changed hands on 19 deals.

The

share price of Bank of Valletta plc registered

gains throughout the week, with a total gain on the week of almost three per

cent. The closing share price for the week was EUR 3.449, as the equity

registered the most trades, with 47,237 shares changing hands on 47 deals, for

a total value of EUR 160,297.

This

week, HSBC Bank Malta plc lost a

marginal 0.04 per cent, with 39,652 shares changing hands on 35 deals. HSBC closed

the week at EUR 2.749, a marginal decline of EUR 0.001. The equity registered

three consecutive losses of 0.04 per cent, 2.15 per cent, and 1.12 per cent

from Monday to Wednesday, while rising by 1.13 per cent and 2.19 per cent on

Thursday and yesterday.

GlobalCapital plc registered an overwhelming loss of 33.33 per cent on

just three trades of 950 shares, closing at EUR 1.00, a decline of EUR 0.50.

Meanwhile

GO plc continued its positive run despite an increase of just EUR 0.01 as

it closed the week at EUR 1.63. GO increased only on Tuesday by 0.62 per cent,

remaining unchanged on the other trading session, as 51,484 shares changed

hands over 26 transactions.

RS2 Software plc remained unchanged at EUR 0.62, as 1,000

changed hands on a single deal.

The share price of MaltaPost plc registered a massive decline of seven per cent, with 4,277 shares

changing hands on a single transaction, closing the week at EUR 0.651, a

decrease of EUR 0.049.

International

Hotel Investments plc registered a marginal decrease of EUR 0.001,

closing the week at EUR 0.82, as 12,345 shares changed hands on six deals.

Malta

International Airport plc closed the week at EUR 2.101, 4.5 per cent less

than last week, having registered declines of 6.52 per cent and 2.28 per cent

on Wednesday and Thursday respectively, while registering an increase of 4.55

per cent on Tuesday.

The

Treasury of Malta announced that the Accountant General will be

offering an aggregate of EUR 80 million of Malta Government Stocks, which are

being offered and made available in any combination of the following issues: i)

3.6% MGS 2013 (IV) F.I. (November’09); (ii) 4.6% MGS 2020 (II) and (iii)

Floating Rate MGS 2015 (V) Linked to the 6 Month Euribor. The issue is subject

to an over-allotment option of EUR 20 million. The prices of issues will be

determined on Thursday, November 5, 2009 in the afternoon. Applications will

open on Monday, November 9, 2009.

This article, which was compiled by Jesmond

Mizzi, Managing Director of 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].