This week the Malta Stock Exchange Index closed at 2,969.834 points, a drop of 2.53 per cent. During the week, 11 equities were negotiated, with one closing in positive territory, eight closing in negative territory and two remaining stable. Fimbank plc was the best performer of the week as its share price appreciated by 1.70 per cent and closed at $1.495. On the other hand HSBC Bank Malta plc lost most ground as its share price dropped by 5.81 per cent and closed at €2.45.
During the week 268 deals were registered on the stock exchange for a turnover of over €5.18m. In the equity market 128 transactions were carried out for a total value of €507,293. In the corporate bond market, 81 transactions for a total value of €863,924 were executed. While in the government bond market 42 transactions were executed for a value of over €1.14m. Sixteen transactions were carried out in the Treasury Bills market for a value of over €2.67m.
Malta Government Bonds had a good week as only one bond traded ended the week at a lower price than the previous week traded prices. The best performer was the MGS 4.8 per cent 2016 II which appreciated by 2.01 per cent. In the corporate bonds market the 6.20 per cent - 6.80 per cent International Hotel Investments 2013 was up 2.25 per cent and the new MIDI plc GBP bond hit the 103 level.
On Monday the share price of Bank of Valletta plc (BOV) dropped by 1.60 per cent to €2.46, the lowest price in five years. Following Tuesday's public holiday on Wednesday the share price of BOV recovered some of its losses and increased by 0.85 per cent to €2.481. On Thursday BOV was the most active but the share price fell by 1.25 per cent. On Friday, BOV was the only equity which changed in value as its share price dropped by 0.41 per cent to €2.44 to new five year lows and thus losing 2.40 per cent on the week.
HSBC Bank Malta plc (HSBC) saw its share price drop by 3.88 per cent on Monday to a new 49-month low at €2.50. On Wednesday, HSBC gained some territory as its share price increased by 1.20 per cent to €2.53. However, on Thursday HSBC lost most territory among the traded equities as its share price dropped by 3.16 per cent to a new 49-month low of €2.45. Although 2,100 shares were negotiated on Friday the share price remained stable. HSBC will be announcing the Bank's 2008 full-year results next Friday.
Lombard Bank Malta plc dropped in value on Monday as its share price lost 3.77 per cent to the lowest in three years at €2.55. However, on Wednesday Lombard was the best performer as its share price regained 1.96 per cent to €2.60 when 6,000 shares were negotiated across three deals.
Fimbank plc was the only positive performer on Monday as its share price increased by 2.04 per cent to $1.50 on a single deal of just 1,267 shares. However, on Thursday the share price of Fimbank dropped by 0.33 per cent to $1.495 when 20,900 shares were negotiated across four deals.
Datatrak Holdings plc was negotiated for the first time this year on Monday; however the share price remained stable at €0.19 as 2,000 shares changed hands across two deals.
The share price of Go plc dropped by 2.80 per cent to an all-time low of €1.70 as 20,700 shares were negotiated across 10 deals on Monday.
A single deal of 1,000 shares left Plaza Centres plc losing most territory on Monday as its share price dropped by 4.76 per cent to €1.60. However, on Thursday Plaza was the only positive performer of the day as its share price increased by 5.00 per cent to €1.68 when 25,800 shares were negotiated across six transactions. This meant that no price movement was registered this week.
Malta International Airport plc was negotiated on Wednesday and its share price dropped by 1.96 per cent to €2.45 on a single deal of 5,000 shares. On Thursday MIA announced that it will be issuing its 2008 results on March, 12. The share price of the company dropped by a further 0.86 per cent to €2.429. During the week 35,000 shares were traded across five transactions leading to a drop of 2.80 per cent in the share price.
A single deal of just 1,000 shares left Maltapost plc as the worst performer on Wednesday as its share price dropped by 3.66 per cent to €0.79. The postal operator is expected to hold its annual general meeting next Tuesday.
RS2 Software plc was negotiated for the second time this year on Thursday and its share price dropped by 1.25 per cent to €0.789 as 10,000 shares were negotiated across three deals.
Simonds Farsons Cisk plc was negotiated on Thursday with its share price dropping by 0.05 per cent to €1.90 when just 200 shares were negotiated across two deals.
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 telephone 2122 4410 or e-mail jmizzi@jmfs.net.