The Malta Stock Exchange Index closed at 3,938.573 points after experiencing five positive consecutive sessions and gaining 3.77 per cent on the week, therefore recovering from last week's losses of 0.74 per cent. This week, 12 equities were negotiated, with four closing in negative territory, five in positive territory and three others remaining unchanged. During the week, Bank of Valletta plc was the best performer, while FIMBank plc lost most ground.
A total of 260 trades were registered on the stock exchange, with a total turnover of over €15.86 million. In the equity market, 177 deals were executed for a total value of over €1.14 million. In the government bond market 57 deals were carried out, for a value of over €13.77 million, while in the corporate bond market, 19 deals were executed for a total value of €173,722. In the Treasury Bills market, seven deals were executed for a total value of €765,137.
In the banking sector, Bank of Valletta plc registered a rise of €0.399, closing the week at €4.699, thus increasing by 9.28 per cent, with 55,772 shares being traded over 56 deals. During the week, BOV traded at a high of €4.72, and a low of €4.30. On the other hand, FIMBank plc was the only banking equity which lost some of last week's share price. FIMBank registered a loss of USD 0.049, as it closed the week at USD 1.909, decreasing by 2.50 per cent on the week, with a volume of 265,600 shares traded over nine deals, for a total value of €351,276. HSBC Bank Malta plc recovered from the last two weeks' losses, as it registered an increase of 5.81 per cent. The equity closed the week at €3.28, a rise of €0.18, with 57,157 shares changing hands over forty one deals. Lombard Bank plc also registered a rise in its share price, increasing by €0.101, or 3.42 per cent. The closing price for the week was €3.05, with 60,588 shares changing hands on 16 deals.
GO plc registered a rise of 4.55 per cent in its share price. GO closed the week at €2.30, €0.10 higher than last week, with a volume of 34,062 shares changing hands on 24 deals. Maltapost plc was the other equity which registered a rise in its share price. The equity closed the week at €0.77, increasing by €0.02 from last week, as 2,000 shares were traded over just one deal.
International Hotel Investments plc (IHI) continued to retain its previous share price of €1.05. IHI traded 44,628 shares over seven deals. Datatrak Holdings plc also registered its previous share price during the week, as it closed the week at €0.29, with 15,000 shares changing hands on just one deal. Likewise, RS2 Software plc closed the week at its previous share price. The closing price for the week was €0.829, with 14,900 shares changing hands over eight deals.
Crimsonwing plc registered a loss of almost two per cent in its share price. The equity closed the week at €0.51, thus losing €0.009 on the week, having traded 22,500 shares over four deals. Malta International Airport plc also experienced a loss in its share price, as it closed the week at €2.95, therefore decreasing by 1.63 per cent on the week, or €0.049, with 9,350 shares changing hands on nine deals. Medserv plc traded once during week, as it fell by just 0.08 per cent, closing the week at €3.997, €0.003 less than last week, as 1,000 shares changed hands.
Last week, Grand Harbour Marina plc announced that the board of directors had approved the half-yearly financial statements of the company for the period January 1, 2008 to June 30, 2008. Grand Harbour Marina registered a loss after tax of €84,760, compared to a loss of €315,751 in the first six months of last year. Revenue for the first six months ended June 30, 2008 was €1.08 million, compared to revenue of €472,905 registered last year, including revenue generated from the licensing of long term super yacht berths of €508,475. No super yacht berth sales were reported in the first six months of 2007. Pontoon fees and revenue from ancillary services for the first six months ended June 30, 2008 grew from €472,905 to €571,879, an increase of 21 per cent over the first 6 months of 2007. Operating costs, excluding direct costs of revenues from long term berth licensing for the six months ended June 30, 2008, were in line with those for the first six months of 2007. The decrease in total assets to €12.31 million at June 30, 2008 from December 2007 (€17.67 million) is mainly related to the decrease in cash and cash equivalents due to the payment of dividend and payments related to taxation.
On Thursday, the governing council of the ECB decided that the minimum bid rate on the main refinancing operations and the interest rates on the marginal lending facility and the deposit facility will remain unchanged at 4.25%, 5.25% and 3.25% respectively. This announcement seems to have had a positive impact on Malta Government Stocks yesterday, as all MGS's traded appreciated in value.
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.