The Malta Stock Exchange index yesterday closed at 4158.185 points, losing 0.12 per cent on the week and now close to 16 per cent on the year. During the week, 11 equities were negotiated, with five equities closing in positive territory, four in negative territory, while the rest remained stable. During the week, Grand Harbour Marina plc was the best performer while Go plc lost most ground.
A total of one 158 trades were registered on the stock exchange for a turnover of over €12.1 million. In the equity market 89 deals were executed for a value of €710,291, while in the corporate bond market 18 deals were carried out for a total value of €63,499. In the government bond market 43 deals were executed for a total value of over €8.4 million. In the Treasury bills market eight deals were executed for a total value of over €2.92 million.
In the banking sector, the share price of HSBC Bank Malta plc lost some ground during the week. The equity closed at €3.81, falling by €0.01, on a turnover of 27,640 shares traded over 24 deals. HSBC announced that the board of directors is scheduled to meet on July 25 to approve the group's and the bank's interim accounts for the half-year ended June 30 and consider the declaration of an interim dividend. On the other hand, the share price of Bank of Valletta plc started recovering from last week's fall, as it increased by 1.52 per cent, with 20,879 shares changing hands over 22 deals, on a total turnover of €97,068. BOV closed the week at €4.67, having gained €0.07 during the week. Lombard Bank plc retained last week's share price as it closed at €2.90, with 1,093 shares changing hands, having traded once during the week. FIMBank plc experienced an increase in its share price, closing the week at US$1.869, increasing by 0.48 per cent on the week, on a turnover of 8,300 shares traded over two deals.
Grand Harbour Marina plc was the best performer of the week, as it saw its share price increase again during the week by more than four per cent, closing the week at €2.25, with 6,437 shares changing hands over six deals. Crimsonwing plc registered an increase of 1.92 per cent in its share price, recovering some of last week's losses. Crimsonwing closed at €0.53 with a volume of 6,762 shares on two deals. The board of directors of Crimsonwing are due to meet on July 29 to, among other matters, approve the financial statements for the year ended March 31. Simonds Farsons Cisk plc share price appreciated by 1.07 per cent over the week, as it closed at €2.83, with 2,135 shares changing hands over just one deal.
Go plc lost most ground during the week, as its share price decreased by 3.85 per cent to €2.50. Go traded 12 times during the week for a total volume of 7,594 shares. The share price of Malta International Airport plc (MIA) lost 1.89 per cent of its value and closed at €3.061 as 9,762 shares changed hands in five deals, on a turnover of €29,886. MIA announced that at a meeting of the directors the interim financial statements for the financial period ended June 30 were approved. Profit after tax for the six month period to June 30 was of €3.322 million, which is 26 per cent higher than the profit after tax for the same period last year. This significant increase was largely due to the increase in traffic during the period. The group's turnover for the period compared to the same period in 2007 was up 9.3 per cent. The directors have also approved a net interim dividend of €0.06 per share equivalent to €4,059,000, for payment to shareholders on the register of shareholders as at close of business on July 31. International Hotel Investments plc experienced a 0.10 per cent decrease in its share price, as it closed the week at €1.049, with 1,500 shares changing hands on three transactions.
Maltapost plc retained last week's price, with 520,031 shares changing hands over 12 deals, closing the week at €0.80.
Subscriptions for the 6.75 per cent €10 million bond issued by United Finance plc, a member of the United Group, closed as scheduled on Thursday. The bond issue was fully subscribed and the company will be exercising the over-allotment option of €2 million bringing the total bond issue to €12 million.
Mediterranean Investments Holding p.l.c. (MIH), a subsidiary of Corinthia Group of Companies, is issuing a new bond for €15 million bearing an interest rate of 7.5 per cent per annum and maturing on August 4, 2015. The funds will be utilised to finance further planned expansion in the Libyan market by MIH. If over-subscribed, the issue may be increased to €20 million. This is the second bond issue by MIH, who issued its first bond in November 2007 to finance the building of Palm City Residences - a newly-built village in Janzour, Libya. MIH, that is a joint venture between the Corinthia Group of Malta and the National Real Estate Company of Kuwait. Subscriptions for the bond issue will open on July 28.
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.