MSE trading report - week ended January 23

This week the Malta Stock Exchange index closed at 3,197.240 points, a drop of 1.61 per cent. During the week, nine equities were negotiated, with seven closing in positive territory, and two closing in negative territory. San Tumas Shareholding plc gained most territory with an increase of 3.23 per cent in its share price which reached an all-time high of €3.20, as 24,673 shares were negotiated across five deals. On the other hand, Bank of Valletta plc lost most ground as its share price dropped by 11.15 per cent and closed at €2.63. Fourteen Malta Government stocks fell in value while six appreciated in value on the week.

During this week 223 deals were registered on the stock exchange for a turnover of over €16.8 million. In the equity market 95 transactions were carried out for a total value of €355,982. In the corporate bond market, 43 transactions for a total value of €209,981 were executed. In the government bond market, 55 transactions were executed for a value of just under €6.7 million. Twenty-eight transactions were carried out in the Treasury Bills market for a value of over €9.5 million.

Bank of Valletta plc (BOV) was the most active equity as 50 deals were transacted with volume reaching 46,300. Although the share price fell by over 11 per cent, BOV started the week by recovering last week's losses on fresh demand. In fact its share price appreciate by 1.28 per cent to €2.998 as 2,215 shares were negotiated. On Tuesday, BOV was the only negative performer as its share price dropped by 0.13 per cent to €2.994 as 1,829 shares were negotiated across four deals. On Wednesday, the equity was the most active and lost most ground as its share price dropped by 4.81per cent to €2.85. The share price dropped by another 3.51 per cent to €2.75 as 6,238 shares changed hands across ten deals, on Thursday. Yesterday the share price dropped by 4.36 per cent to €2.63, as 10,858 shares were negotiated across 12 deals.

During this week HSBC Bank Malta plc gained 0.93 per cent across 18 deals for a total volume of 37,785 shares. On Monday, HSBC Bank Malta plc was the only equity which lost territory as its share price dropped by 3.54 per cent to €2.70 as 20,150 shares were negotiated across seven deals. However, on Wednesday, HSBC Bank Malta plc was the best performer as its share price increased by 3.70 per cent to €2.80. On Thursday the share price dropped by 0.36 per cent and yesterday a single trade of 400 led to an increase of 1.25 per cent in the share price which closed at €2.825.

Fimbank plc saw its share price rise by 1.38 per cent on Wednesday, as it closed at $1.47 on a single deal of 1,400 shares.

During the week Go plc appreciated by 0.54 per cent as a total of 14,514 shares were traded across five deals. On Monday, Go plc continued to appreciate in value as its share price increased by 1.08 per cent to €1.87 as 11,514 shares changed hands across three deals. However on Friday, the equity lost 0.53 per cent to €1.86 on a single deal of 1,500 shares.

Maltapost plc traded higher on Monday which happened to be the last day to gain entitlement to the final dividend of €0.04 per share declared by the company last week and which is to be approved by shareholders at the Annual General Meeting of the company scheduled for February 17, 2009. Shareholders may receive the dividend either in cash or by the issue of new shares at the price of €0.77 per share. The share price of Maltapost plc increased by 1.23 per cent to €0.82 as 3,000 shares were negotiated across six deals. This week Maltapost plc gained 1.23 per cent as a total of 3,000 shares were negotiated across six deals.

The share price of Malta International Airport plc increased by 0.40 per cent to €2.50 as 2,200 shares were negotiated across three deals, on Wednesday. On Friday, the share price remained stable at €2.50 as three trades were executed for a total volume of 800 shares. During the week Malta International Airport plc appreciated by 0.40 per cent as 3,000 shares were negotiated across six deals.

Plaza Centres plc was a negative performer on Wednesday, as its share price dropped by 2.89 per cent to €1.68 when only 60 shares were negotiated in a single deal.

For the first time this year, a single deal of 1,000 shares led to an increase of 0.05 per cent in the share price of Simonds Farsons Cisk plc which closed at €1.901 yesterday.

On Tuesday, MIDI plc announced its allotment policy in respect of its recent €40 million bond issue. The company stated that applications having a nominal value up to and including €100,000 or GBP87,000 will be met in full. Applications with a nominal value in excess of €100,000 or GBP87,000, will have the first €100,000 or GBP87,000 met in full while 66.59 per cent of the remaining portion will be allotted. The company stated that all allotments will be rounded to the nearest €100 or GBP100. Trading in both euro and sterling bonds is expected to commence next Monday.

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