Positive week on the MSE - BOV up 16.36%

The Malta Stock Exchange Index ended the trading week at 2,825.915 points, increasing by 2.84 per from last week, reducing the year to date loss from 14.35 per cent to 12 per cent. The index decreased only yesterday by 2.797 per cent.

During the week, eight equities were negotiated, with four closing in positive territory, and four others closing in negative territory.

This week a total of 365 deals were registered on the Malta Stock Exchange with a turnover of over €14.56 million. In the equity market, 232 transactions were executed for a total value of over €1.79 million, while in the government bond market 57 transactions were carried out for a total value of over €3.38 million. The corporate bond market saw 60 deals changing hands for a total value of €388,974, while 16 transactions were carried out in the Treasury bills market for a total value of over €9 million.

In the banking sector, three out of the four banks registered a rise in their share prices. Bank of Valletta plc was the best performing equity during the week, registering a rise of €0.36. The equity closed at €2.56, with 70,841 shares changing hands over 87 deals, having traded at a high of €2.60 and a low of €2.354. BOV decreased only yesterday, having depreciated by €0.04. BOV's highest increase was on Monday, as it increased by seven per cent. The equity is now at a year to date loss of almost 11.5 per cent.

Lombard Bank plc registered an increase of 8.16 per cent in its share price. Lombard closed at €2.65, a rise of €0.20 on the week, after trading 509,097 shares across 19 deals, for a total value of over €1.28 million.

HSBC Bank Malta plc also had a positive week, as it increased by €0.083, or 3.52 per cent. The equity closed the week at €2.44, as 112,051 shares changed hands over 94 deals. HSBC traded at a high of €2.60 and a low of €2.43.

FIMBank plc was the only banking equity to suffer a loss in its share price. FIMBank decreased marginally by 1.16 per cent, or €0.016, closing the week at US $1.364, trading 1,450 shares across three transactions.

Malta International Airport plc was the other equity to register an increase in its share price, as it appreciated by €0.11, or 5.34 per cent. The equity closed the week at €2.17, with 1,700 shares changing hands on five deals. MIA increased both on Monday (increase of 0.49 per cent) and Tuesday (increase of 4.83 per cent), while remaining unchanged yesterday.

GlobalCapital plc was the worst performing equity during the week, losing an incredible €0.991 on just one deal of 480 shares yesterday, having closed at €1.00, a decrease of almost 50 per cent from its previous share price.

International Hotel Investments plc (IHI) was one of the equities to register a loss in its share price, closing the week at €0.73, a loss of 3.82 per cent, or €0.029, on the week. IHI traded 2,990 shares over two deals.

Go plc decreased marginally this week, as it lost €0.001 from its previous share price, having traded 23,529 shares across 21 transactions. The equity decreased both on Monday and on Wednesday, but recovered €0.006 yesterday. Go closed the week at €1.549.

During the week, 6pm Holdings plc announced that the board of directors are scheduled to meet on Tuesday to consider and approve the company's final audited accounts for the financial year ended December 31, 2008, and consider the declaration or otherwise of a dividend to be recommended at the annual general meeting.

On Wednesday, Plaza Centres plc announced at the ninth annual general meeting of the company that four resolutions will be presented for consideration. Among these resolutions, the annual report and financial statements for the year ended December 31, 2008, comprising of the financial statements, directors' report and auditors' report, will be received and approved, and the meeting will approve the payment of a net dividend of €0.0791 (after taxation), representing a net amount of €744,647 as recommended by the board of directors. Yesterday, the company then announced that at the annual general meeting the shareholders approved all the ordinary resolutions on the agenda.

This article, which was compiled by Jesmond Mizzi Financial Services Ltd (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 telephone 2122 4410 or e-mail jmizzi@jmfs.net.