In the last full trading week of the year, the MSE Index closed 1.2 per cent lower at 4,868.316, just 52.9 points away from the year's low of 4,815.343 on January 5.
HSBC Bank Malta plc (HSBC), opened at Lm1.96,9 and dipped to a Lm1.94 close yesterday - a fresh post-bonus low, and within a whisker of its January 6 equivalent low of Lm1.93,8. HSBC made up the bulk of trading with 186,763 shares changing hands, accounting for 43.5 per cent of the week's total equity turnover by value of Lm838,796. At the end of trading, the best bid was for 7,000 shares at Lm1.93, while the best offers for 5,000 shares stood at Lm1.95,5.
Bank of Valletta plc (BOV)'s trading range over the whole week was between Lm3.58 and Lm3.60, closing at Lm3.58 yesterday to end the week virtually unchanged. Turnover amounted to 36,698 shares for a market value of Lm131,638. At the end of trading best bids totalled 250 shares at Lm3.57,5, while supply for 980 shares started at Lm3.58,5.
BOV, and Middlesea Insurance plc (MSI), announced that, out of an issue of two million Lm1 shares in Middlesea Valletta Life Assurance Co Ltd, both acquired 50 per cent each - thereby retaining each party's pre-existent percentage holding. These shares were allotted on December 15. On Thursday BOV announced that all the resolutions on the agenda were approved at the annual general meeting on Wednesday.
Maltacom plc (MLC) on Monday slid from a Lm1.49,5 open to a Lm1.45 close - a fresh low for 2006. It traded very late in the day on both Tuesday and Wednesday retaining the Lm1.45 open but climbing to Lm1.46,8 close. In a single deal for 2,500 shares yesterday, it closed at Lm1.47, bringing the week's drop down to just 1.7 per cent. At the end of the session, the best bid was for 2,500 shares at Lm1.45, and the best offer for 2,500 shares at Lm1.47,5. Activity for the week amounted to 41,636 shares for a market value of Lm61,153.
Malta International Airport plc was only active on Monday and Tuesday. Opening at Lm1.32 on Monday, it recovered to Lm1.33,5 to close unchanged. It was stable on Tuesday closing the day - and the week at this price. Volume was a respectable 22,925 shares for a value of Lm30,566. At the close of yesterday's session, encouragingly, best bids totaled 3,400 shares at Lm1.35 while offers for 3,129 shares started at Lm1.37.
Lombard Bank plc (LOM) was the week's top performer with a 4.9 per cent gain. It advanced five cents to Lm5.15 for Monday's opening deals rising to Lm5.20 by the close. It continued to gain ground on Tuesday, climbing to Lm5.25 and Lm5.30, rising a further five cents to Lm5.35 on Wednesday - the last trade for the week.
GlobalCapital plc (GCL) opened and closed virtually unchanged: Lm2.10 to Lm2.10,1. It rocketed to Lm2.24 on Wednesday when 32,100 shares were vacuumed, slumped to Lm2.10 for Thursday's opening deal, and yo-yoed back to Lm2.20,9 for the second and last deal of the day. It fell to Lm2.10,1 in yesterday's single deal for 800 shares.
Medserv plc traded uneventfully at Lm1.35 from Monday to Thursday. Likewise Fimbank plc was stable at US$1.70 with turnover at 136,100 for a market value of Lm75,554. The board will meet on February 21, in Kuwait City to consider and approve the audited annual financial statements as at December 31, and to consider the payment of a dividend.
Middlesea Insurance plc (MSI) lost one per cent to Lm1.98 in the week's only deal for a minimal 116 shares. Datatrak plc was practically flat at 25c1.
On Wednesday Suncrest Hotels plc announced that Suncrest Bondholders' applications for the Lm5 million 6.7 per cent Bond 2014-16, were met in full. Notice was given that the remaining balance of 8.25 per cent Suncrest Bonds 2005-07 will be redeemed on March 23. AX Investments plc will be acquiring 1,883,483 Suncrest shares, 92 per cent of the 2,045,000 listed, thereby issuing Lm930,000 in the four per cent Bonds 2013 and paying Lm8,064 in cash.
In Malta government stocks there were 42 deals with a turnover by value of Lm618,273.61. In corporate bonds there were 22 deals completed for a total turnover by value of Lm44,069.44.
Report by Financial Planning Services Limited, tel. 2134 4244, fax. 2134 1202, e-mail: info@bonellofinancial.com
Financial Planning Services Limited is licensed by the MFSA to provide investment services, including stockbroking (IS/3608). The Directors or related parties, including the company, and their clients, are likely to have an interest in securities mentioned. This article is only meant to provide information and is not intended to give investment advice. The value of securities, and the currencies in which they are denominated, may go down as well as up.