Maltapost's shares 70 per cent up since IPO

The Malta Stock Exchange index shed 0.2 per cent to close seven points lower from the previous week at 4,651.55. Activity was rather low on the local bourse, with four of the 11 active equities closing in positive territory, while six others closed in the red. Maltapost followed by Simonds Farsons Cisk were the top gainers while Middlesea Insurance and Bank of Valletta were the equities to suffer the largest share price drops during the week.

A total of 122 deals were registered on the stock exchange for a turnover above €2.58 million. In the equity market 88 deals were executed for a traded value of nearly €656,345, while 28 transactions were performed in local corporate bonds and government stocks for a turnover just above €717,400. In addition, five deals were executed in Treasury bills for €1.2 million.

Maltapost was the week's top equity performer rising by 20 per cent, from €0.711 to €0.848 on a volume of 57,321 shares which were negotiated across 12 trades. This increase is equivalent to a 70 per cent rise since the equity was made publicly available for trading on the local bourse earlier this year. Friday afternoon Maltapost announced that as a result of a further acquisition of shares this week, M. I. Marafie (a Kuwaiti investor) now holds 5.0255 per cent of the equity capital of the company.

Simonds Farsons Cisk gained 2.4 per cent on a volume of 7,725 shares to close at €2.56, while Go added nearly one per cent to end the week at €3.029 having traded 3,000 shares across two deals.

In the banking sector, HSBC Bank Malta was the only positive performer edging 0.5 per cent higher to close at €4.41. This was attained over a volume of 16,595 shares which were transacted across 14 deals. On the other hand, Bank of Valletta, which was the week's most actively traded equity, declined by 1.6 per cent to end the week at €5.65. Over 84,500 shares swapped hands over 45 transactions with the weekly highest and lowest prices traded at being €5.70 and €5.40 respectively.

Lombard Bank and FIMBank also closed in negative terrain. Lombard Bank had 2,000 shares traded over two deals to lose 1.5 per cent or €0.20 and close back at the €13.00 level. FIMBank shed 0.1 per cent or US$0.002 to end the week at US$1.74 on a single minor deal of 825 shares.

Middlesea Insurance was, however, the worst performer having declined 2.8 per cent, from €3.60 to €3.50 during a week in which 2,006 shares changed hands across four deals. International Hotel Investments shed 0.5 per cent on a mere volume of 700 shares to close at €1.034, while Malta International Airport shares lost 0.8 per cent to close at the €3.30 level on a single deal of 200 shares.

Crimsonwing was the only equity to close unchanged during the week, having executed a deal of 4,658 shares at €0.55.

In the bonds market activity was also relatively low. In fact, seven local government stocks were traded for a total turnover just above €645,300, with the 5.4 per cent MGS 2010 accounting for the majority of the turnover registered on the stock exchange. In the corporate bonds sector, the highest volume traded was recorded in the seven per cent Pavi Shopping Complex Bond which, however, traded unchanged at €100.

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.