BOV and HSBC recover on Thursday and yesterday

The Malta Stock Exchange index closed the week at 2,818.996 points, at a loss of 1.54 per cent, bringing the year to date loss to 12.13 per cent. During the week, 13 equities were negotiated, with eight closing in negative territory, four closing in positive territory and one remaining stable. Plaza Centres plc was the best performer as its share price increased by 1.19 per cent and closed the week at €1.70 while 6pm Holdings plc lost most ground as its share price dropped by 15.71 per cent and closed at £0.59.

During the week 369 deals were registered on the stock exchange for a turnover of over €10 million. In the equity market 259 transactions were carried out for a total value of €753,663. In the corporate bond market 58 transactions for a total value of €347,703 were executed, while in the government bond market 44 transactions were executed for a value of over €3 million. Seven transactions were carried out in the Treasury bills market for a value of over €5.8 million.

Bank of Valletta plc appreciated by 0.04 per cent this week as 105,206 shares were negotiated across 101 deals for a total value of €226,430. The equity fell by 4.98 per cent on Monday, 4.78 per cent on Tuesday and 0.15 per cent on Wednesday having traded at a low of €2.001. However, on Thursday, the equity appreciated by 3.55 per cent to €2.102 and yesterday BoV was the best performer of the day as it appreciated by 6.95 per cent to €2.248.

Following last week's publication of HSBC Bank Malta plc annual results for 2008, on Monday, the share price of the bank appreciated by 2.63 per cent. However, on Tuesday its share price started to lose ground as it dropped by 4.27 per cent and a further 5.67 per cent on Wednesday. On Thursday it was the most active traded equity and this led to an increase of 4.12 per cent. This positive trend continued yesterday as its share price 1.82 per cent to €2.24. Notwithstanding this positive run during the week HSBC lost 1.75 per cent as 96,761 shares were negotiated across 83 deals.

During this week the share price of Lombard Bank Malta plc appreciated by 0.41 per cent and closed at €2.46 as four deals were executed for a total volume of 42,050 shares.

Fimbank plc lost ground on Monday as its share price dropped by 0.67 per cent to $1.49 as 15,048 shares were negotiated across three deals. The share price of Fimbank remained stable at $1.49 yesterday as 6,813 shares changed hands across four deals.

This week the share price of Go plc (Go) dropped by 11.71 per cent and closed at €1.501 as 31,120 shares were negotiated across 21 deals. On Thursday, the share price lost a further 4.99 per cent and reached an all-time low of €1.60. This down turn continued yesterday as its share price dropped by a further 6.19 per cent to €1.501.

As mentioned above, the share price of 6pm Holdings plc lost most ground as 10,000 shares were negotiated across six deals. On Monday 6pm lost most ground among the traded equities as its share price dropped by 15.71 per cent to £0.59 on a single deal of just 1,500 shares.

During the week a single deal of just 2,000 Crimsonwing plc shares resulted in a drop of 5.63 per cent to €0.469 in the share price of the company.

On Monday Malta International Airport plc saw its share price increase by 0.95 per cent to €2.45 as 35,600 shares were negotiated across 20 deals.

On Tuesday the share price of Middlesea Insurance plc remained stable at €2.575 as 1,000 shares were negotiated across four deals.

Plaza Centres plc traded three times as 11,000 shares changed hands this week. On Tuesday a single deal of 3,000 shares led to a drop of 0.06 per cent to €1.679 but on Thursday the share price appreciated by 1.25 per cent to €1.70 as 8,000 shares changed hands across two deals.

During the week the share price of Simonds Farsons Cisk plc dropped by 0.05 per cent and closed at €1.899 as 8,000 shares were negotiated across six transactions.

The share price of Maltapost plc dropped by 3.92 per cent and closed at €0.759 as 1,115 shares were negotiated across two deals. On Wednesday a single deal of 115 shares led to a drop of 0.25 per cent in the share price. Then on Thursday another single deal of 1,000 shares led to a further drop of 3.68 per cent.

Finally, a single trade of 1,000 shares led to a drop of 4.94 per cent in the share price of RS2 Software plc which closed at €0.75 yesterday.

This article, which was compiled by Jesmond Mizzi Financial Services Limited (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 contact JMFS at 67/3, South Street, Valletta or on telephone 2122 4410 or e-mail jmizzi@jmfs.net.