Grand Harbour Marina share price up 20 per cent

The Malta Stock Exchange index closed up 0.92 per cent over the previous week at the 4693 level. Year to date the MSE index is down just under five per cent, which is a much better performance than most international indices.

Thirteen listed equities were active this week, eight of which closed in positive territory, while three closed in negative territory. FIMBank plc was the highest traded equity while Grand Harbour Marina plc was the best performer over the week. Maltapost plc, on the other hand, was the worst performer after reaching new highs in the previous week.

A total of 234 deals were registered on the stock exchange for a turnover just under €4 million. In the equity market 149 deals were executed for a traded value of €1.255 million, while 50 transactions were performed in local corporate bonds and 23 in government stocks for a turnover just above €1.02 million. In addition, 12 deals were executed in Treasury bills for a total of €1.71million.

In the banking sector, FIMBank was once again highly active during the week having seen 549,370 shares in 30 deals to close at US$1.90. FIMBank's annual general meeting is scheduled to be held on April 10, when, among other things, a net dividend of US$0.038023 per ordinary share is to be recommended. On Tuesday, FIMBank was the best performer as its share price gained 6.13 per cent to close at US$1.836. The turnover was high at 258,000 on a total of 20 trades. On Wednesday, the shares experienced another positive performance as its share price gained 3.49 per cent to close at US$1.90. However, only 2,000 shares changed hands. On Thursday, the share price remained unchanged although the turnover was high as 289,370 shares changed hands. The equity did not trade yesterday and, therefore, ended the week 9.83 per cent up.

Bank of Valletta (BOV) had a positive week all-round as its share price increased by 1.61 per cent to close the week at € 5.69. Thirty six deals were executed totalling 49,031. The equity traded at a low of €5.50 and at a high of €5.75. Rating agency Moody's during the week re-affirmed all BOV's ratings, as last awarded in May 2007. The ratings are as follows: Bank deposits A3/Prime-1, bank financial strength D+, baseline credit assessment Baa 3 and senior unsecured debt A3. The outlook for the bank is stable.

HSBC Bank Malta plc (HSBC) moved slightly up (0.11 per cent) to end the week at €4.42. Eighteen deals were executed reaching a total volume of 18,713 shares. HSBC shares traded between €1.43 and €1.415.

Lombard Bank's shares were also traded during the week. However, they closed unchanged at the €13.00 level on a volume of 3,200 shares.

Middlesea Insurance plc share price fell 2.22 per cent during the week as only four transactions were executed totalling 1,154.

Crimsonwing was also active during the week as 6,500 shares changed hands in two deals at the closing price of €0.56.

Go (€3.014), International Hotel Investments (€1.05) and Malta International Airport (€3.35) all ended the week in positive territory, gaining 0.13 per cent, 0.96 per cent and 0.90 per cent respectively on minimal trading. International Hotel Investments announced that the board of directors will be meeting on Tuesday to approve the financial statements for the period ended December 31.

Plaza and Maltapost plc ended the week in negative territory. Plaza lost 1.94 per cent at close at €1.67 and Maltapost plc ended the week at €0.73 losing a staggering 13.51 per cent on 13 transactions totalling 38,220 shares.

6pm traded nine times this week, closing at last week's price of £0.72, having traded at £ 0.70 and £0.73. The total traded shares this week was of 43,660 executed in nine deals.

Grand Harbour Marina (GHM) share price rose by a whopping 20.69 per cent, on five transactions totalling 12,500. On Monday, the company published its preliminary financial statement for the year ended December 31. The company announced that the board of directors is proposing to the annual general meeting the payment of a net dividend of €0.20 per share. The results for the year ended December 31 show a profit after tax of Lm1,675,032 compared to a profit of Lm318,552 for the same period in 2006. Earnings per share as at December 31 was up 17c compared to 3c in the previous year. Profit before tax for 2007 increased to Lm2.82 million from Lm419,236. Yesterday, GlobalCapital also announced the preliminary results of the Group for the financial year ended December 31. GlobalCapital announced that the Group registered a profit before tax for the year of Lm151,662 compared to Lm3.17million for 2006. The company stated that 2007 was characterised by a severe downturn in the capital markets which had an adverse effect on the results and operating performance for the year. The board further stated that, despite the prevailing environment, the Group is well positioned to take advantage of an upturn in due course.

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.