The Malta Stock Exchange index closed at 3,409.554 points, at a loss of 3.13 per cent over last week. This was another negative week for equity markets worldwide as fears of global recession escalate. Since the beginning of the year the MSE index has now lost 30.95 per cent. During the week, nine equities were negotiated, with seven equities closing in negative territory and two remaining stable. In anticipation of the financial result due next Friday, Bank of Valletta plc lost most territory this week.
A total of 252 deals were registered on the stock exchange for a turnover of over €7.2 million. In the equity market 122 transactions were carried out for a total value of €296,499. In the corporate bond market 73 transactions for a total value of over €1 million were carried out, while in the government bond market 40 transactions were executed for a value over €3.4 million. Seventeen transactions were carried out in the Treasury bills market for a value of over €2.5 million.
Yesterday the Treasury issued a press release to announce the allocation of the Government Stock issues which were open to the public and institutional investors. The Treasury received 1,792 applications having a total value exceeding €61 million against the authorised sum on issue of €50 million (subject to an over-allotment option for an additional amount of €15 million). Allotment of the two stocks on issue will be as follows: MGS five per cent 2021 (I) issued at 99.50 - €23,307,400 and MGS 5.10 per cent 2014 (III) issued at 101.50 - €29,863,400.
The Treasury announces that all subscriptions by members of the public, amounting to €26,260,800 will be accepted in full while the offers by the institutional investors will be allotted in the order of the bid price offered.
During this week the banking sector had the toughest time as Bank of Valletta plc lost 8.11 per cent and closed at €3.40. This occurred as 31,784 shares changed hands across 51 transactions for a total value of €112,742. BoV traded at a high of €3.67 during the week. HSBC Bank Malta plc lost 3.33 per cent and closed at €2.90 as 36,033 shares changed hands over 34 deals for a total value of €105,984. Lombard Bank Malta plc saw its share price decrease minimally by 0.03 per cent to €2.948 on just one deal of 359 shares. The share price of FIMBank plc remained stable at $1.60 as 5,070 shares changed hands across three deals.
Go plc saw its share price decrease by 4.76 per cent from €2.10 last week to €2. In total 20,962 shares for a value of €42,700 changed hands across 23 deals. The share price of International Hotel Investments plc decreased by 1.22 per cent from €0.98 to €0.96 on three deals for a total volume of 3,000 shares and a total value of just €2,915. The share price of Grand Harbour Marina plc lost 2.23 per cent to €2.15 on a single deal of 5,000 shares for a value of €10,750. MaltaPost plc retained last week's value which was at €0.818 even though three transactions for a total volume of 5,500 shares for the value of €4,496 were executed.
Finally, the share prices of RS2 Software decreased by 4.11 per cent to €0.78 as three deals were executed. Some 12,500 shares changed hands for a total value of €9,700. At the beginning of the week RS2 software announced that one of the company's service providers signed a deal with OK-Q8, Sweden's largest chain of petrol stations. RS2 Software will be customising the Bankworks software for use by OK-Q8.
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, or on tel. 2122 4410 or e-mail jmizzi@jmfs.net.