This week the Malta Stock Exchange Index closed at 3,317.114 points, at a loss of 0.58 per cent over last week. In November the MSE index fell by 1.33 per cent and since the beginning of the year the Index has now lost 32.82 per cent. During the week, 12 equities were negotiated, with six equities closing in negative territory, five closing in positive territory and one remaining stable. Shares of Datatrak Holdings plc lost most territory as its share price dropped by 35.16 per cent while Grand Harbour Marina plc gained most territory with an appreciation of 2.78 per cent and closing at €1.85.
A total of 246 deals were registered on the stock exchange for a turnover of over 5.1 million. In the equity market one 138 transactions were carried out for a total value of €478,111.
In the corporate bond market 51 transactions for a total value of €231,052 were executed. While in the government bond market 43 transactions were executed for a value over €2.4 million. Fourteen transactions were carried out in the Treasury bills market for a value of over €1.9 million. The two large banks remain the most active equities on the stock exchange. Bank of Valletta plc saw its share price increase by 0.56 per cent to €3.62 as 36,715 shares changed hands across 42 deals. HSBC Bank Malta plc, on the contrary, saw its share price drop by 1.03 per cent to €2.89 as 60,221 shares changed hands across 41 deals.
The share price of Lombard Bank Malta plc increased by 0.07 per cent to €2.95 as 2,699 shares were negotiated across two deals. Meanwhile, the share price of FIMBank plc dropped by 0.43 per cent to $1.394 as 47,849 shares changed hands across nine transactions.
On Tuesday the share price of Maltapost plc dropped by 6.70 per cent, but on the week the equity was up 1.33 per cent as 22398 shares changed hands on 10 deals. As mentioned earlier the share price of Datatrak plc fell 35.16 per cent to an all-time low of €0.201. This was the result of a single transaction carried out on Tuesday during which 1,000 shares were negotiated.
On Wednesday, Crimsonwing plc published its interim results for the six months ended September 30. The group's turnover during the first half of the year increased by 45.5 per cent to €6.3 million but the Company's after-tax profits declined from €442,201 to a loss of €58,677. No trades have been executed in the equity since November 5.
As mentioned earlier the share price of Grand Harbour Marina plc increased by 2.78 per cent. This was the result of a single deal of 249 shares carried out on Thursday.
On Thursday, 6pm Holdings plc issued an interim directors' statement whereby it was stated that as anticipated, the company increased the order book substantially, particularly in relation to public sector activities. However, the company has been affected by the current conditions in the UK economy which are leading to the postponement of work starting. The company has been negatively affected by the rate of exchange between the euro and the sterling as well as escalating logistics costs. The Company is therefore taking appropriate measures to limit the impact on its profitability.
Yesterday, Simonds Farsons Cisk plc issued an interim directors' statement where it was stated that during the first nine months of the current financial year, the group registered increased turnover levels over the corresponding period last year in its brewing, production and sale of branded beers and beverages segment, in its food importation business and the operation of franchised food retailing establishments. The substantial reduction in sales value per litre of carbonated soft drinks continues to have a negative impact on the profitability of this segment.
The directors expect that the group's results for the current financial year will show a material decline in profitability over those for the year ended January 2008. Still, the directors believe that the company, through the measures being undertaken, remains well positioned to handle the challenges ahead.
During this week Middlesea Insurance plc experienced a drop of 5.45 per cent in its share price which closed at €2.55. This came as the result of two trades for a total volume of 2,000 shares. Malta International Airport plc was another negative performer with a drop of 0.44 per cent in its share price which closed at €2.24. A total of 13,900 shares were negotiated across five transactions. The share price of International Hotel Investments plc dropped by 1.10 per cent to €0.90. A total of 20,252 shares were negotiated across 11 deals.
The share price of Go plc appreciated by 0.05 per cent to €1.90 as 8,536 shares were negotiated across 11 deals. Meanwhile the share price of RS2 Software plc remained stable at €0.75 as 30,000 shares were traded across three deals.
This article, compiled by Jesmond Mizzi Financial Services Ltd (JMFS), does not intend to give investment advice and the contents thereof 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, on 2122 4410 or e-mail jmizzi@jmfs.net.