HSBC and BOV gains boost MSE Index by 1.5 per cent

Equity turnover by value this week increased to Lm635,000 - its second best this year. The positive vibes extended to the MSE Index which gained 1.5 per cent to close the week at 5123.766. The Government Bond market was also quite active with 49 deals resulting in a market value turnover of Lm1.4 million. In Corporate Bonds, HSBC's newly listed 4.6 per cent 2017 bond started trading last Monday. The Lm bond closed at a premium of 11c whilst the Euro one closed at Eur101.

HSB was the week's best performer, with a gain of 2.6 per cent. It started Monday practically flat opening at Lm2.08 and closing at Lm2.079, but headed higher on Tuesday ending the session at Lm2.10. On Wednesday, HSB opened at Lm2.11 but then fell back to Lm2.10. Thursday saw a 3c gain to Lm2.13 close while yesterday HSB closed at Lm2.135. The week's total turnover was 96,470 shares, with a value of Lm203,180. At the end of trading, the best bid was for 2500 shares at Lm2.13, while the best offer for 3040 shares stood at Lm2.135.

The board will meet next Friday to consider and approve the final audited accounts for the year ended December 31, and consider the declaration of a final dividend to be recommended to the bank's annual general meeting.

BOV enjoyed a comeback, starting the week on a positive note. It made headway on Monday, starting out at Lm3.651 and rising to Lm3.68,while it climbed to Lm3.70 on Tuesday. It was stable at this price on Wednesday and for most of Thursday when it hit an intra-day high of Lm3.72, but closed back at Lm3.70. Despite the slack trading yesterday - two deals for 1,948 shares - BOV still managed to inch ahead, closing at Lm3.719 for a 1.9 per cent increase on the week.

The week's turnover totalled 65,418 shares for a market value of Lm241,354. At the end of trading, best bids totalled 2,000 shares at Lm3.705, while supply of 2,500 shares started at Lm3.72.

International Hotels Investment plc (IHI), for the fifth week on the trot, closed at a fresh all time high of Eur1.16. From a Eur1.14 open on Monday, it rose to Eur1.15, did not trade on Tuesday but was stable at the Eur1.15 level on Wednesday and Thursday. Yesterday, it broke into previously uncharted territory, pushing ahead to an all-time peak of Eur1.16 for a gain on the week of 1.7 per cent on a turnover of 57,448 shares.

Malta International Airport plc (MIA) had a good week gaining 1.45 per cent and closing at Lm1.40 on turnover of 14,560 shares. After falling to intra-day low of Lm1.364 on Wednesday, it recovered strongly on Thursday to close at Lm1.399 and inch up another one mil to yesterday's Lm1.40 close. At the end of the session, best bids were for 1,000 shares at Lm1.351 while offers for 5,000 shares started at Lm1.399.

Medserv plc gained 1.4 per cent on the week after closing at an all-time high of Lm1.42 on Wednesday.

Maltacom plc (MLC) placed sixth in the "positives" table with a gain of 1.4 per cent to Lm1.48 on a comparatively low turnover of 28,206 shares with a value of Lm41,061. The Company's shareholders are being starved of even a snippet of information of what must be massive happenings since Tecom's takeover. From a communications company one expects a lot more communication!

The biggest loser was Lombard Bank plc (LOM) which closed the week at Lm5, a hammering drop of 7.4 per cent. GlobalCapital plc only traded on Wednesday and Thursday, at consecutively lower prices of Lm2.10 and Lm2.05, for a drop of 3.5 per cent on the week.

Middlesea Insurance plc (MSI) shed 3c in its opening deal on Tuesday falling to Lm2.00 It traded steadily at this price on Wednesday and Thursday but had another 2c chipped off its price yesterday to end the week at Lm1.98 - down 2.5 per cent. In total, turnover was a comparatively busy 28,192 shares for a value of Lm56,311.

Fimbank plc and Datatrak plc were unchanged at US$1.74 and 24c5 respectively. Simonds Farsons Cisk, Plaza Centres plc and Santumas Shareholdings plc did not trade.

Report by Financial Planning Services Ltd, tel. 2134 4244, fax. 2134 1202, email: info@bonellofinancial.com

Financial Planning Services Ltd is licensed by the MFSA to provide investment services, including stockbroking (IS/3608). The Directors or related parties, including the company, and their clients, are likely to have an interest in securities mentioned. This article is only meant to provide information and is not intended to give investment advice. The value of securities, and the currencies in which they are denominated, may go down as well as up.