MSE | Wednesday, 19 December 2007

The shares of Lombard Bank Malta p.l.c. experience a sharp incline

Global Capital Financial Management Ltd - Malta Stock Exchange Review

Yesterday, during the second session of the week, the Malta Stock Exchange gained 0.27% to finish at 4872.66 points. The local market was off to a hectic start as activity was spread across eight out of the fourteen listed equities. Lombard Bank Malta p.l.c. and GlobalCapital p.l.c. had an outstanding performance, whereas Malta International Airport p.l.c., FIMBank p.l.c. and Plaza Centres p.l.c. nudged lower.
On the banking front Lombard Bank Malta p.l.c. terminated the session by a whopping 19c5 (Eur0.45) gain at Lm5.495 (Eur12.80). Shares were exchanged across 7,380 shares and carrying a market value of Lm40,335 (Eur93,955.28). At the end of trading, bids for 2,500 shares stood at Lm4.90 (Eur11.41), whereas the best offer for 1,400 shares stood at Lm5.498 (Eur12.81). Week on week Lombard Bank Malta p.l.c. gained 4.67% from its closing price of Lm5.25 (Eur12.23) on Tuesday 11th December.
GlobalCapital p.l.c. witnessed another impressive performance. A robust volume of 65,000 shares were swapped across fifteen transactions. The share price closed in positive territory as they gained 4c0 (Eur0.09) to settle at the Lm2.04 (Eur4.75) level. Week on week GlobalCapital p.l.c. advanced by a notable 6.25% from its closing price of Lm1.92 (Eur4.47) on Tuesday 11th December. The total turnover of the week was extremely strong as 286,400 shares were exchanged across thirty-eight trades. Following a company announcement issued by GlobalCapital p.l.c. on Tuesday 18th December, the Company announced that Mr. Adrian Bonett has resigned from the post of Chief Operations Officer. With effect from 1st January 2008, Mr. Bonett’s duties will be assumed by Mr. Kevin Vella, currently Chief Financial Officer. Details of Mr. Vella have already been provided in previous GlobalCapital p.l.c. Company Announcements. There is no matter concerning Mr. Bonett or Mr. Vella requiring disclosure under Listing Rules 8.16.3 to 8.16.8.
Large-cap HSBC Bank Malta p.l.c. was another positive performer. The share price traded 0c9 (Eur0.02) higher to finish at the Lm1.97 (Eur4.59) level across 1,000 shares. These shares were exchanged across two transactions. At market close, best demand stood at Lm1.965 (Eur4.58) for 200 shares against best supply of 6,120 shares at Lm1.97 (Eur4.59). Week on week HSBC Bank Malta p.l.c. gained 0.51% from its closing price of Lm1.96 (Eur4.57) on Tuesday 11th December.
Remaining on the banking front FIMBank p.l.c. dropped $0c1 to finish at $1.769. Trading in FIMBank p.l.c. was restricted to one deal across 360 shares. On Monday 17th December FIMBank p.l.c. announced that, pursuant to the Rights Issue, the shareholders holding 5% or more of its issued share capital as listed on the Malta Stock Exchange are as follows. Massaleh Investments K.S.C.C 45.26%; Astrolabe General Trading Contracting Co. 5.94%; International Finance Corporation 5.74%. Furthermore, FIMBank p.l.c. announced that the Board of Directors shall be meting on 2nd March 2008 in Dubai, United Arab Emirates, to consider and approve the annual financial statements of the Company for the year ended 31st December 2007 and to consider the payment of a dividend, if any.
On the loser’s front Malta International Airport p.l.c. closed in the red by 0c4 (Eur0.01) at Lm1.38 (Eur3.21). The price shifted was stuck at Lm1.38 (Eur3.21) throughout the whole session across a poor turnover of 200 shares.
On the retail front the shares of Plaza centres p.l.c. pegged down to lower levels at Lm0.67 (Eur1.56), down 2c0 (Eur0.05) across 1,900 shares.
Elsewhere on the board, Bank of Valletta p.l.c. and GO p.l.c. traded sideways without effecting their previous session close at Lm3.495 (Eur8.14) and Lm1.31 (Eur3.05) respectively.
On Monday 17th December GO p.l.c. announced that as per Company Announcement issued by Maltacom p.l.c. on the 18th January, 2006 relating to the charging of VAT on international incoming interconnection traffic. The Company announced that the Court of Appeal has on the 14th December, 2007 rejected the appeal filed by the VAT Department against the January 2006 decision of the VAT Appeals Board.
In the fixed interest market, a total of Lm397,324 (Eur925,515.96) (21 Deals) were transacted in Government Bonds whilst a total of Lm5,254 (Eur12,238.53) (2 Deals) were transacted in Corporate Bonds.
The amount in EUR is quoted for information purposes only and is the result of a conversion using the Central Parity Rate of 1 EUR = Lm 0.429300 established by the Central Bank of Malta.

Issued by GlobalCapital Financial Management Ltd, 120 The Strand, Gzira, GZR1027 for information purposes only and is not intended to constitute any financial, legal or tax advice. This write up is not to be taken as investment advice to buy or sell any investment. Investors should seek professional advice prior to taking investment decisions and should note that the value of investments may fall as well as rise. Readers who would like more information are invited to send an E-mail to [email protected] or Tel: 21 342342. GlobalCapital Financial Management Ltd, is a member of the Malta Stock Exchange and is licensed by the Malta Financial Services Authority (MFSA).