The Malta Stock Exchange index closed at 3,642.039 points yesterday, losing 4.96 per cent per cent on the week, as the financial markets awaited an American bailout. This week, 10 equities were negotiated, with two equities closing in positive territory, seven equities closing in negative territory and one equity remaining unchanged. Maltapost plc was the best performer, while BOV plc lost most ground.
A total of 265 trades were registered on the stock exchange, with a turnover of €15.28 million. In the equity market, 146 deals were executed for a total value of €500,464. In the corporate bond market 26 deals were carried out, for a value of €178,192, while 61 deals were executed in government bonds for a total value of over €8.75 million. In the Treasury bills market, 32 deals were executed for a total value of nearly €5.85 million.
Bank of Valletta plc was the worst performer, after registering a fall of 8.35 per cent on the week, closing the week at €3.95, as 48,456 shares changed hands over 47 deals. BOV traded at a high of €4.27 and a low of €3.90. In fact the share price of BOV gained slightly yesterday. HSBC Bank Malta plc registered a fall of 7.98 per cent in its share price, closing the week at €3, as 63,051 shares changed hands on 62 deals. The equity traded at a high of €3.20 and a low of €2.99. Lombard Bank plc also lost some ground, as it registered a loss of 1.61 per cent on the week. The closing price for the week was €3, as 6,800 shares traded over five deals. FIMBank plc was the other banking equity to register a decrease in its share price, as it closed the week at $1.84, losing 3.06 per cent, with a volume of 9,170 shares changing hands over three deals, for a total value of €11.921.
Crimsonwing plc closed the week unchanged at €0.50. Only 8,500 shares were traded in two deals. Maltapost plc was the best performer with its share price increasing by 2.93 per cent and closing at €0.844 with only two transactions being registered for a volume of 466 shares. International Hotel Investments plc suffered a drop of 3.85 per cent on its share price this week and closed the week at €1. Six transactions were registered for a total volume of 26,564 shares. Grand Harbour Marina plc gained 2.33 per cent in one deal of 1,500 shares. The share price closed at €2.20.
Go plc registered a minimal loss of 0.05 per cent to close the week at €2.20. The total volume traded amounted to 18,225 shares across 17 deals. Simonds Farsons Cisk plc traded only once during on a volume of 3,111 shares. The share price fell by 1.22 per cent to €2.60.
This week Simonds Farsons Cisk plc announced that the board of directors approved the group's financial statements and half-yearly report for the six-month period ended July 31. The board of directors of Simonds Farsons Cisk plc resolved to distribute, out of tax exempt profits, an interim dividend of €0.0078 per share on all ordinary shares. This dividend will be paid on October 24 to the ordinary shareholders on the Register as at the close of business on October 10. This will amount to a total interim net dividend of €200,000. The results show an increase of 4.6 per cent in turnover and a decrease in the gross profit margin from 23.4 per cent to 21.5 per cent. The operating profit of the Farsons Group fell from €2.9 million to €2 million. The profit before tax amounted to €1.5 million compared to a profit of €3.3 million for the same period in 2007.
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 please contact JMFS at 67/3 South Street, Valletta, or on tel. 2122 4410 or e-mail jmizzi@jmfs.net.