MSE | Tuesday, 17 December 2008

GlobalCapital Financial Management Ltd - Malta Stock Exchange Review

Another down day for the MSE Index

Yesterday, the local market raised the red flag for the second consecutive time. The Malta Stock Exchange index declined 2.53 points or 0.08 per cent to finish at 3,304.19 points. The sole gainer of the day was Bank of Valletta p.l.c. whereas the shares of GO p.l.c. traded lower. Meanwhile, the shares of HSBC Bank Malta p.l.c. finished static.
On a positive note the shares of Bank of Valletta p.l.c. took the podium as the share price gained €1c9 to close at €3.599. The total turnover amounted to 5,840 shares. These shares were swapped across seven transactions. At market close, best unsatisfied bids stood at €3.58 for 3,186 shares against best offers of 997 shares at €3.599. The total turnover for the week amounted to 32,032 shares and exchanged in forty-seven deals.
Meanwhile, the shares of GO p.l.c. continued zooming down by €4c5 to settle at the €1.85 level across 2,020 shares. The lowest traded price during the session was €1.85, whereas the highest traded price of the day was €1.851. Week on week GO p.l.c. surrendered 2.63 per cent from its closing price of €1.90 on Tuesday 9 December.
Elsewhere on the board, HSBC Bank Malta p.l.c. maintained its previous session price at €2.84 after 4,200 shares worth €11,928 were swapped in four trades. At market close, best unsatisfied bids stood at €2.815 for 1,000 shares against best offers of 5,099 shares at €2.85. Week on week HSBC Bank Malta p.l.c. lost 1.39 per cent from its closing price of €2.88 on Tuesday 9 December.
On Thursday 11 December Lombard Bank Malta p.l.c. announced that they are scheduled to meet on Thursday 12 of March 2009 to consider and approve the Group’s and the Bank’s Audited Financial Statements for the financial year ended 31 December 2008. Furthermore, they shall consider the declaration of a final dividend to be recommended to the Bank’s Annual General Meeting.
On Tuesday 16 December Grand Harbour Marina p.l.c. announced that on the 10 December 2008, the Company was informed that Mr George Kershaw resigned from his position as director of the Company with effect from the 10 December 2008. Grand Harbour Marina has further informed that Mr Lawrence Zammit, a Non Executive Director, has been appointed Chairman of the Company, in substitution of Mr Kershaw.
Yesterday, in the fixed interest market, a total of €341,182 (Fifty-Two deals) were transacted in Government Bonds. Out of the fifteen stocks that were negotiated during the second session of the week three bonds finished in positive terrain. The most traded Government stock was the 5.1 per cent MGS maturing in 2022(I) with a total volume of 85,626 and closed at €107.49, down by 0.89 per cent. The 5.9 per cent Malta Government Stock maturing in 2015(II) had the best performance of the day. This stock finished at €111.39, 0.35 per cent higher by a turnover of 19,012.
A total of €86,202 (Twelve deals) were transacted in Corporate Bonds. The 6.7 per cent Corinthia Finance 2009 and the 8 per cent Bank of Valletta US$ 2010 preferred to stay on the sidelines and closed unchanged at par and US$105 respectively. The 5.6 per cent GlobalCapital maturing in 2014/16 finished on the back foot by 0.67 per cent at €74.50. The 4.6 per cent HSBC Bank Malta bond that matures in 2017 finished in the opposite direction as it gained 0.51 per cent at €99.50 across a volume of 9,200.
The turnover value in the Treasury Bill secondary market amounted to €168,644 (Two 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 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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17 December 2008

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