MIA rises 1.47% while the MSE Index moves 1.2% lower

The local bourse lost 1.18 per cent this week as 11 equities traded, five of which closed in negative grounds while three others registered increases. In total 154 transactions were executed in the equity market with volume amounting to 1,286,425, for a value of Lm966,984. The Malta Stock Exchange Index closed 58 points lower at 4,815.41.

Middlesea Insurance was the equity's worst weekly performer as it lost 5c in Thursday's session to close the week 2.54 per cent lower at Lm1.92. This was attained across seven transactions with only 1,030 shares changing hands.

In the banking sector, HSBC Bank Malta ("HSBC"), Bank of Valletta ("BOV") and Lombard Bank all closed in the red on a week-on-week basis, while FIMBank was the only equity within the sector to move ahead.

Even though HSBC shares were the most actively traded during the week, trading was relatively thin, with just 64,105 shares changing hands across 51 transactions. The equity closed the week 1.57 per cent lower following losses performed on Wednesday's and Thursday's sessions, to close 3c lower at the level of Lm1.88.

BOV's share price headed 2.04 per cent downwards as it dropped 7c5 over the week. On Monday's session the equity was traded unchanged, Tuesday it edged minimally lower by 0c1, while on Wednesday it declined by 7c3. On Thursday it shed another 0c1 to remain stable in the last session of the week and close at Lm3.61. A total of 24 transactions were performed in BOV shares with the high and low price being Lm3.68,5 and Lm3.59 respectively. Similarly, Lombard Bank also closed in negative territory as it shed 0.60 per cent at Lm4.97 even though this was achieved over two trades totalling 600 shares.

Within the same sector, FIMBank added US$0.001 on Tuesday to continue being traded stably throughout the rest of the week at US$1.90. Trading in such equity was strong with over one million shares being traded across 23 trades.

GlobalCapital was the other equity to close lower as it registered a drop of 1c during Tuesday's session to close at the Lm2.00 level. The equity was only active in this session with 10,667 shares being traded across two deals. No other trades were performed in any of the subsequent sessions.

On the other hand, the best equity performer of the week was Malta International Airport rising 1.47 per cent across nine trades which saw 12,514 shares change hands. The equity closed the week at Lm1.38.

Maltacom also registered a minor increase closing 0c3 higher from last week's price. It lost 0c7 on Monday to fall to Lm1.39, remaining traded at this level throughout the rest of the week, before closing in positive territory yesterday as it gained 1c5 in its share price. This resulted in a 0.21 per cent gain on a weekly basis, with 34,630 shares being traded across 31 transactions and ended the week at Lm1.40.

The remaining active shares, International Hotel Investments ("IHI"), Plaza Centres and Medserv closed the week unchanged at €1.17, Lm0.715 and Lm1.42 respectively. In total 24,058 shares were traded in IHI across two transactions, while 4,000 shares changed hands across two deals in Plaza shares. Moreover, a single transaction of 1,000 shares was performed in Medserv shares.

With regards to the local corporate bond market, 72 transactions were executed for a turnover of Lm237,587, while in the local government stock market the value traded stood at Lm865,787 across 18 deals.

During the week Gap Developments plc announced a public issue of Lm15 million or €35 million in seven per cent secured bonds, offered at a nominal value of Lm100 and €100 per bond at par, maturing in 2013, but redeemable in whole or in part at the company's option in 2011 and 2012.

Year to date the MSE index is down 1.19 per cent with the best performing equity being IHI which gained 17 per cent followed by FIMBank which gained nearly 10 per cent. The worst performing equity was Lomband Bank which fell nearly 14 per cent.

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 please contact JFMS at 67/3, South Street, Valletta, or on tel. 2122 4410 or e-mail jmizzi@jmfs.net.