MSE | Wednesday, 13 May 2009

GlobalCapital Financial Management Ltd - Malta Stock Exchange Review

The local bourse continues to gain

Yesterday, for the fourth consecutive session, the local market gained 1.32% or 38.95 points to close at 2999.67 points. In the equity market, four stocks were negotiated in which all finished in positive terrain. The total volume amounted to 43,825 shares and swapped across thirty-six transactions.
HSBC Bank Malta p.l.c., the largest capitalization stock on the Malta Stock Exchange’s Official List, had the best performance of the day. The share price increased €4c0 to settle at the €2.55 level across 12,000 shares. These shares were traded in a very tight range of €2.53 to €2.55. At market close, best unsatisfied bids stood at €2.55 for 2,591 shares against best offers of 1,000 shares at €2.555. Week on week, HSBC Bank Malta p.l.c. gained 3.24% from its closing price of €2.47 on Tuesday 5th May.
Remaining on the banking front, Bank of Valletta p.l.c. followed suit. The share price showed some strength to gain €1c5 at €2.395. The turnover amounted to 9,700 shares and carried a market value of €23,169 across thirteen trades. The lowest traded price during the session was €2.381, whereas the highest traded price of the day was €2.395. Week on week, Bank of Valletta p.l.c. gained 3.23% from its closing price of €2.32 on Tuesday 5th May.
On the telecommunications front, the shares of GO p.l.c. edged forward €0c5 to settle at the €1.735 level. GO was the most liquid stock of the session as 15,125 shares were executed across thirteen trades. At the end of trading, bids for 1,000 shares stood at €1.72, whereas the best offer for 4,375 shares stood at €1.735. The total turnover of the week amounted to 43,411 shares and exchanged across thirty-three deals.
Elsewhere on the board, International Hotel Investments p.l.c. was another stock that managed to stay above water. The share price registered a €3c0 gain to finish at €0.95. Volume amounted to 7,000 shares and swapped in two deals.
On a positive note, the shares of GlobalCapital p.l.c. are currently trading €1.50, which is a 50% gain from last Tuesday week.
On Monday 11th May Lombard Bank Malta p.l.c. announced that on the 28th April 2009 an additional 565,373 Ordinary Shares of €0.25 each were admitted to listing on the Malta Stock Exchange. This addition was in respect of the Scrip Dividend approved at the Annual General Meeting held on 23rd April 2009. The Issued and Paid Up Share Capital is now therefore made up of 35,613,581 Ordinary Shares of €0.25 each all of which carry the same voting rights.
On Monday 11th May FIMBank p.l.c. announced regarding the reference that was made to the news item featured on page 1 of the Sunday Times of 10th May 2009 entitled “Xemxija Project is at a standstill”. The article reports statements seemingly made by Mr. Jeffrey Montebello in relation to the alleged partnership of FIMBank p.l.c. in the “Xemxija Project” otherwise known as the Mistra Heights development. FIMBank wishes to clarify that it is neither a partner, nor a Lender nor has it issued any guarantees or indeed financing in relation to the Project. FIMBank p.l.c. further clarifies that Al Massaleh Real Estates Limited, reported to be one of the joint venture partners in the Project in the same news item, is an affiliate of one of its current shareholders, Massaleh Investments K.S.C.C., and has no direct relations with FIMBank p.l.c. Furthermore, FIMBank p.l.c. announced that, pursuant to the scrip issue, a total amount of 540,322 Ordinary Shares were admitted to listing on the Malta Stock Exchange on Wednesday 29th April 2009 and commenced trading on Thursday 30th April 2009. The FIMBank total issued and fully paid up share capital of FIMBank plc as at 30th April 2009 amounted to 135,396,714 Ordinary shares of US$ 0.50 each all of which carry the same voting rights.
In the fixed interest market, a total of €745,268 (seven deals) was transacted in Government Bonds. Meanwhile, a total of €75,112 (Fifteen deals) was transacted in Corporate Bonds.

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).


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13 May 2009

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