GlobalCapital Financial Management Ltd - Malta Stock Exchange Review
Bank of Valletta p.l.c. shares closed marginally higher ahead of final results
Yesterday, at Garrison Chapel, the local market put in a lacklustre performance. The shares of Bank of Valletta p.l.c., HSBC Bank Malta p.l.c. and Middlesea Insurance p.l.c. were the only three stocks that traded during the session. The Malta Stock Exchange index raised the red flag to close 0.54 per cent lower at 3388.09 points.
On the banking front, Bank of Valletta p.l.c. edged forward €0c9 to settle at the €3.499. A total of 15,830 shares were swapped across eight trades that carried a market value of €55,375.94. At the end of trading, bids for 1,000 shares stood at €3.45, whereas the best offer for 8,407 shares stood at €3.50. On Thursday 23 October, Bank of Valletta p.l.c. announced that the Board of Directors is scheduled to meet on Friday 31 October 2008 to consider and approve the Group’s and the Bank’s Audited Financial Statements for the financial year ended 30 September 2008. Furthermore, they shall also consider the declaration of final dividend to be recommended to the Bank’s Annual General Meeting.
On a negative note, the shares of HSBC Bank Malta p.l.c. finished on the back foot. The share price retreated €5c0 at €2.85 across 1,967 shares. The lowest traded price during the session was €2.85, whereas the highest traded price of the day was €2.90.
On the insurance front, Middlesea Insurance p.l.c. traded €5c0 lower to close the second session of the week on the back foot at €2.70. The volume was poor as 453 shares changed hands in two deals.
Following the company announcement issued by GO p.l.c. on Tuesday 28 October, the Company announced that with effect from this date the following senior management structure will come into effect. Chief Executive Officer - Mr David Kay, Chief Operations Officer - Mr Norbert Prihoda, Chief Finance Officer - Mr Edmond Brincat, Chief Technology Officer - Ing. Joseph Bugeja, Chief Information Officer - Mr Ramana Palepu, Chief Human Resources Officer - Ms Michelle Bonnici. These officials shall have the overall responsibility for executing the Company’s policies as established by the Board of Directors. There is no matter concerning the abovementioned officials requiring disclosure under Listing rules 8.16.3 to 8.16.8.
On Thursday 23 October, the Board of Directors of Simonds Farsons Cisk p.l.c. approved the appointment of Ms Antoinette Caruana, as Group Human Resources Manager, (Designate), of the Farsons Group of Companies, as from 2 February 2009. She will be a member of the Farsons Group Executive Board chaired by the Group Chief Executive Mr Louis A. Farrugia. Ms Caruana M.Sc. HRM, B.A. (Hons.) Business Management, F.C.I.P.D., has accumulated substantial work experience in Human Resource management positions held in two local leading industrial concerns (Playmobil Malta Ltd and Lufthansa Technik Malta). For four years she occupied the position of Chief Executive Officer of Heritage Malta. Her outside work interests include involvement in the FHRD and MEA. She is currently a Director of the Central Bank of Malta. In terms of Listing Rules 8.16.2 there is no information to be disclosed. Furthermore in terms of Listing Rules 8.16.3 to 8.16.8 there is no information to be disclosed.
On Monday 27 October, FIMBank p.l.c. announced that, with effect from 3 November 2008, Dr Armin Eckermann, has been appointed as the FIMBank p.l.c. Group Head of Banking and Deputy to the President, Mrs. Lutschg Emmenegger. Dr Eckermann previously held the positions of Managing Director, Global Structured Trade Finance & Services at Standard Bank plc, London, UK; of Managing Director, Global Head Commodity Finance, at Westdeutsche Landesbank Girozentrale (WestLB AG), Düsseldorf Head Office, Germany and of Executive Director at Banco Europeo de America Latina / WestLB Group, Buenos Aires, Argentina, respectively. Dr Eckermann holds a Ph.D. in International Economics from the University of Illinois at Urbana, Champaign, USA. There are no matters concerning Dr Armin Eckermann requiring disclosure under Listing Rules 8.16.3 to 8.16.8.
Yesterday, in the fixed interest market, a total of €58,222 (10 Deals) were transacted in Government Bonds, whereas a total of €855 (1 Deal) was transacted in Corporate Bonds.
The turnover value in the Treasury Bill secondary market amounted to €791,065.
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).
