MSE | Wednesday, 11 June 2008

MaltaPost p.l.c. shares gain on sluggish activity

GlobalCapital Financial Management Ltd - Malta Stock Exchange Review

Yesterday, at Garrison Chapel, the Malta Stock Exchange index dropped 34.10 points or 0.82 per cent to close the second session of the week at 4145.60 points. The local equity market was somewhat sedated with not many trades. Activity was low and spread across four of out of the sixteen listed equities. The sole advancer of the day was MaltaPost p.l.c. Meanwhile, the shares of HSBC Bank Malta p.l.c. and GlobalCapital p.l.c. raised the red flag.
The shares of MaltaPost p.l.c. was the only stock that managed to stay above water and made some headway. The share price edged forward €0c5 (LM0.002) to settle at the €0.785 (LM0.337) level. On another positive note, Maltapost p.l.c. was the most liquid stock of the day as 22,091 shares were swapped across seven transactions. At market close, best demand stood at €0.785 (LM0.337) for 1,409 shares against best offers of 3,000 shares at €0.799 (LM0.343). The total turnover of the week amounted to 28,218 shares and swapped across ten trades.
HSBC Bank Malta p.l.c., the largest capitalization stock on the Malta Stock Exchange’s Official List suffered a setback. The share price surrendered €9c0 (LM0.039) to finish the second session of the week at €3.65 (LM1.567). The turnover amounted to 15,900 shares. These shares were exchanged across nineteen trades and carried a market value of €58,713 (LM25,205.49). The price shifted in a range of €3.65 (LM1.567) to €3.731 (LM1.602). Week on week, HSBC Bank Malta p.l.c. lost 3.95 per cent from its closing price of €3.80 (LM1.631) on Tuesday 3 June.
GlobalCapital p.l.c. shares also weighed on the index dragging the share price down €5c0 (LM0.021) to €2.70 (LM1.159) across 2,720 shares. The lowest traded price during the session was €2.70 (LM1.159), whereas the highest traded price of the day was €2.731 (LM1.172).
On the banking front, the shares of Bank of Valletta p.l.c. maintained its previous session price at €4.69 (LM2.013) after 18,250 shares worth €86,018.37 (LM36,927.69) were swapped in twenty-nine deals. At the end of trading, bids for 2,340 shares stood at €4.65 (LM1.996), whereas the best offer for 2,855 shares stood at €4.70 (LM2.018). The total turnover of the week amounted to 56,694 shares. These shares were swapped across seventy-five transactions and carried a market value of €264,213.57 (LM113,426.89).
In the fixed interest market, a total of €1,475,206 (LM633,305.94) (6 Deals) were transacted in Government Bonds, whereas a total of €14,166.71 (LM6,081.77) (3 Deals) were 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).