MSE | Wednesday, 01 July 2009

GlobalCapital Financial Management Ltd - Malta Stock Exchange Review

Lack of activity in the local market

Yesterday, during the first session of the week, the local market raised the red flag, held back by a fall in Bank of Valletta p.l.c. shares to close the session at 2931.58 points, down 0.34 per cent or 10 points. No gainers were recorded in the equity market. Meanwhile, the shares of HSBC Bank Malta p.l.c. and GO p.l.c. witnessed a relatively quiet day to finish unchanged from their previous session close.
On the banking front, Bank of Valletta p.l.c. was the most liquid stock of the day as 9,024 shares changed hands across eight trades. The share price surrendered €5c0 to settle at the €2.60 level. The lowest traded price during the session was €2.60, whereas the highest traded price of the day was €2.65. At the end of trading, bids for 2,271 shares stood at €2.58, whereas the best offer for 2,298 shares stood at €2.60. The total turnover of the week amounted to 32,392 shares and swapped in thirty-three trades.
Remaining on the banking sector, the turnover in HSBC Bank Malta p.l.c. remained weak in the absence of any fresh leads. This equity had a rather slow session with just 5,495 shares changing hands in eight transactions. The share price preferred to stay on the sidelines at €2.60. Week on week, the share price increased 1.96 per cent from its closing price of €2.55 on Tuesday 23 June.
Elsewhere on the board, GO p.l.c. maintained its previous session price at €1.81 after 2,500 shares worth €4,523 were swapped in two deals. At market close, best unsatisfied bids stood at €1.79 for 2,000 shares against best offers of 1,475 shares at €1.81. On Thursday 25 June, GO p.l.c. announced that Forgendo Limited has acquired a further 1,000,000 shares in Forthnet S.A. issued share capital, for a total consideration of €1,772,350. Following a company announcement on Tuesday 30 June, GO p.l.c. announced that Forgendo Limited has acquired a further 991,449 shares in Forthnet S.A. issued share capital, for a total consideration of €1,821,333.90.
On Friday 26 June, Simonds Farsons Cisk p.l.c., announced that on the 25 June 2009 the Company held its 62nd Annual General Meeting at the Radisson SAS Bay Point Resort Malta, St.George’s Bay, St.Julians. The shareholders convened for this event, discussed and approved all the Ordinary and Extraordinary Resolutions.
On Tuesday 30 June Middlesea Insurance p.l.c. announced that at the Annual General Meeting held on 26th June the shareholders considered and approved all the ordinary resolutions. Mr. Alessandro Corsi, an outgoing director, did not present himself for re-election. There are no other matters to disclose in accordance with the Listing Rules. A special Board Meeting was convened immediately after the Annual General Meeting. Mario C. Grech was appointed Executive Chairmen and Roderick E.D. Chalmers was appointed Deputy Chairman of the Board of Directors.
In the fixed interest market, a total of €735,774 (fourteen deals) were transacted in Government Bonds. Meanwhile, a total of €23,247 (three deals) were transacted in Corporate Bonds.
The turnover value in the Treasury bill market amounted to €658,857 across four deals.

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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01 July 2009

Malta Today


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