MSE | Wednesday, 18 February 2009

GlobalCapital Financial Management Ltd - Malta Stock Exchange Review

Trading concentrated on the banking sector

Yesterday, during the second session of the week the local bourse incurred another decline. The Malta Stock Exchange index lost more ground as it closed 1.27 per cent or 37.68 points lower at 2923.59 points. Furthermore, the Maltese equity market saw sluggish trading, predominantly in the red.
Large-cap Bank of Valletta p.l.c. shares dipped €9c9 to settle at the €2.30 level. The turnover amounted to 12,325 shares. These shares were swapped in fourteen trades and carried a market value of €28,670.50. The price shifted in the range of €2.30 to €2.351. At market close, best unsatisfied bids stood at €2.00 for 2,500 shares against best offers of 65 shares at €2.39. Week on week, the shares of Bank of Valletta p.l.c. decreased by 6.50 per cent from its closing price of €2.46 on Monday 9 February.
Remaining on the banking front, the shares of HSBC Bank Malta p.l.c. also contributed to the downward move. Volume was slow as 4,842 shares changed hands in five deals. The share price surrendered €4c9 to close at €2.40. Following a company announcement issued by HSBC Bank Malta p.l.c. on 2 February, the Board of Directors announced that they shall meet next Friday 20 February 2009 to consider and approve the Group’s and the Bank’s Final Audited Accounts for the financial year ended 31 December 2008. Furthermore the Board of Directors shall consider the declaration of a final dividend to be recommended to the Bank’s Annual General Meeting. The total volume of the week amounted to 37,762 shares which were swapped in thirty-six trades.
Elsewhere on the board, Lombard Bank p.l.c. maintained its previous session price at €2.60 after 4,088 shares worth €10,628.80 were swapped in a single transaction. The shares of GlobalCapital p.l.c. are currently trading at €1.991.
On Thursday 12 February, Malta International Airport p.l.c. announced that the Company’s Board of Directors is scheduled to meet on the 12 March 2009 and shall consider the approval of the financial statements for the financial year ended 31 December 2008. Furthermore, the Board shall also consider whether to declare and make a recommendation to the shareholders for the payment of a dividend.
Malta Post p.l.c. announced that the Annual General Meeting held on 17 February 2009, all five Ordinary Resolutions on the Agenda were approved. Following the above meeting, the Board of Directors of MaltaPost p.l.c. is made up as follows: Mr J. Said (Chairman); Mr D. Stelllini; Mr P. A. Tabone; Mr J. P. Azzopardi and Mr A. Theuma.
On Tuesday 17 February Medserv p.l.c. announced that the Board of Directors is scheduled to meet on the 25 March 2009 to consider and if thought fit approve the Annual Financial Statements of the Company for the financial year ended 31 December 2008. Furthermore, the Board of Directors shall consider the declaration or otherwise of a dividend.
In the fixed interest market, a total of €443,901 (Eleven deals) were transacted in Government Bonds. Meanwhile, a total of €304,597 (Twenty-Six deals) were transacted in Corporate Bonds.
The turnover value in the Treasury Bill secondary market amounted to €39,884 (One transaction).

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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18 February 2009

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