Index up after 10 negative weeks

The Malta Stock Exchange index appreciated by 0.14 per cent over the previous week as it closed at 4,134.099 points after 10 consecutive negative weeks. One hundred eighty-four transactions across 12 equities were executed in the equity market for a total value of €948,036. Fifteen transactions for a total value of €102,032 were carried out in the corporate bond market and 51 transactions for a total volume of over €5.1 million were carried out in the government bond market. Five transactions for a total value of €303,433 were carried out in Treasury bills. During this week on the Malta Stock Exchange, a total value of over €6.4 million was negotiated across 255 transactions.

The banking sector dominated the trading during this week as high volumes were negotiated in Bank of Valletta plc, HSBC Bank Malta plc and, above all, FIMBank plc shares. On the positive side, the share price of bank of Valletta plc appreciated by 3.61 per cent to €4.91 as 69,413 shares changed hands across 76 deals, while HSBC Bank Malta plc appreciated by 0.56 per cent to €3.62 as 54,010 shares changed hands across 43 deals.

On the other hand, the share price of FIMBank plc dropped by 0.48 per cent to $1.88 as 180,516 shares changed hands across 12 deals. On Monday, FIMBank plc announced that Menafactors Ltd - originally a joint venture between FIMBank plc and National Bank of Dubai, authorised and regulated by the Dubai Financial Services Authority (DFSA) to provide credit, arrange credit or deals in investments and advice on financial products or credit as well as forfaiting and factoring and operating from the Dubai International Financial Centre (DIFC) - has with effect from May 28, become a fully-owned subsidiary of FIMFactors BV, a fully-owned subsidiary of FIMBank Plc, incorporated in the Netherlands.

Finally, the share price of Lombard Bank Malta plc dropped by 2.28 per cent on two deals, for a total volume of 1,250 shares.

Crimsonwing plc was the best performer during this week as its share price appreciated by six per cent from €0.50 to €0.53 on five deals for a total volume of 34,500 shares. International Hotel Investments plc lost most ground as its share price dropped by 3.77 per cent from €1.06 to €1.02 on 12 deals for a total volume of 37,145 shares. On Monday, CHI announced it signed a 10-year agreement with Mainland Investment LLC of Abu Dhabi, which is UAE's leading investment house, for the operation of the Mafraq Hotel in Abu Dhabi which is due to open in 2010.

Medserv plc lost 1.34 per cent to €3.99 on a single deal of 2,000 shares. On the other hand, the share price of Simonds Farsons Cisk plc gained 0.37 per cent to €2.72 on three deals for a total volume of 3,436 shares. Likewise, the share price of Maltapost plc gained ground as it appreciated by 1.87 per cent to €0.815 as 25,654 shares changed hands across 11 deals.

The share prices of Grand Harbour Marina plc, Go plc and Malta International Airport plc remained stable respectively. In total, 18,500 Grand Harbour Marina plc shares changed hands across six transactions, while 22,835 Go plc shares changed hands across 11 transactions and 800 shares changed hands in two transactions in Malta International Airport plc.

Trading in Malta Government Stocks was mainly dominated by the 5.1 per cent MGS (III) 2014 which closed the week at 98.66 and the five per cent MGS 2021(I) which closed at 96.00 with volumes reaching the two million mark.

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 JMFS at 67/3, South Street, Valletta, or on Tel: 2122 4410 or e-mail jmizzi@jmfs.net.