MSE | Wednesday, 10 October 2007

Leading banking stocks move in positive terrain

GlobalCapital Financial Management Ltd - Malta Stock Exchange Review

Yesterday, during the session the Malta Stock Exchange gained 10.70 points or 0.22% to close at 4838.28 points. FIMBank p.l.c. topped the volume chart, whereas Bank of Valletta p.l.c. and HSBC Bank Malta p.l.c. almost recovered all of its previous session’s losses. A total of 145,680 shares changed hands for a total equity turnover of Lm106,860 (Eur248,916.84).
It was a particular good day for the large-caps as the share price of Bank of Valletta p.l.c. gained a notable 5.3% or 1c9 (Eur0.04) to settle at Lm3.599 (Eur8.38). Only 4,110 shares changed hands and exchanged across four transactions shifting between Lm3.595 (Eur8.37) to Lm3.599 (Eur8.38). At market close, best bids for 2,000 shares stood at Lm3.581 (Eur8.34), whereas the best offer for 9,634 shares stood at Lm3.60 (Eur8.39). Week on week, Bank of Valletta p.l.c. declined 0.03% from its previous close of Lm3.60 (Eur8.39) on Tuesday 2nd October.
HSBC Bank Malta p.l.c., the largest capitalization stock on the Malta Stock Exchange’s official list got off to a positive start. On even lower volume of 1,920 shares, the share price advanced 0c5 (Eur0.01) to close the second session of the week at the Lm1.90 (Eur4.43) level. The four deals transacted in HSBC Bank Malta p.l.c. were stuck at Lm1.90 (Eur4.43) carrying a market value of Lm3,648 (Eur8,497.55). Week on week, HSBC Bank Malta p.l.c. lost 0.47% from its previous close of Lm1.909 (Eur4.45) on Tuesday 2nd October. The total turnover of the week amounted to 61,262 shares carrying a market value of Lm116,495 (Eur271,360.35).
Lombard Bank Malta p.l.c. was back in action. The share price traded sideways without effecting its previous session close at Lm4.75 (Eur11.06). A slim turnover of 811 shares changed hands and swapped across two trades.
Remaining on the banking front foreign-denominated FIMBank p.l.c. followed suit as the share price terminated the session at $1.95. FIMBank p.l.c. was the most liquid stock of the day as a robust volume of 135,339 shares changed hands across five deals. At market close, best bids for 2,529 shares stood at $1.75, whereas the best offer for 57,590 shares stood at $1.95. On Wednesday 3rd October, FIMBank p.l.c. announced that, Massaleh Investments K.S.C.C., already a qualifying shareholder of the Company, has acquired 18,838,319 ordinary shares in the Company held by Global Financial Holdings N.V. (a fully owned subsidiary of Massaleh Investments K.S.C.C. and also a qualifying shareholder of the Company). Pursuant to such transfer, the shareholders holding 5% or more of the issued share capital of the Company as listed on the Malta Stock Exchange are the following:
1. Massaleh Investments K.S.C.C 45.27%
2. International Finance Corporation 7.25%
3. Astrolabe General Trading Contracting Co. 5.94%
Furthermore, GlobalCapital p.l.c. shares closed unchanged at Lm1.87 (Eur4.36).
Elsewhere on the board, Medserv p.l.c. and 6pm Holdings p.l.c. maintained their previous session close at Lm1.60 (Eur3.73) and GBP0.70 respectively across a total of 3,500 shares.
On Thursday 4th October, Maltacom p.l.c. announced that the Extraordinary General Meeting is scheduled to be held on Friday 16th November 2007.
Following a company announcement issued on Friday 5th October, Middlesea Insurance p.l.c. announced that it has disposed its entire shareholding in the Malta International Training Centre with effect from 1st October. Furthermore, the Malta International Training Centre is no longer a subsidiary of Middlesea Insurance p.l.c.
In the fixed interest market, a total of Lm4,021 (Eur9,366.41) (4 Deals) were transacted in Corporate Bonds whilst a total of Lm265,451 (Eur618,334.50) (8 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.