MSE | Wednesday, 06 May 2009

GlobalCapital Financial Management Ltd - Malta Stock Exchange Review

Stock Exchange continues to increase

Yesterday, The local stock exchange closed higher at 2881 points, increasing by 43 points or 1.50%. A total of 58,071 shares were exchanged through forty one trades for a total value of €132,848.
Bank of Valletta p.l.c. share price increased by €0.02 to close at €2.32 per shares. Eleven trades were performed through the exchange of 11,893 shares. Best bid stood at 2,617 shares at €2.301 against best offer of 700 shares at €2.32. Bank of Valletta p.l.c. has in the last week lost €0.12 per share. On Thursday 30th April 2009, Bank of Valletta p.l.c. announced, during a meeting held on the 30th April 2009, the Board of Directors an interim dividend of €0.035 gross per share (€0.023 net of tax) in respect of the six months ended 31st March 2009. This will be paid on the 28th May 2009 to those Members appearing on the Bank’s Register of Members (as maintained at the Central Securities Depository at the Malta Stock Exchange) as at the close of business on Wednesday 13th May 2009. This compares with last year’s interim dividend (as restated for bonus issue in January 2009) of €0.1125 per share. The final dividend recommendation will be determined by the Board later in the year, and will take into account the results for the year as a whole, as well as the conditions prevailing at that time.
The Bank of Valletta group has recorded an operating profit before taxation of €10.1 million for the six months ended 31st March 2009. This compares with an operating profit of €21.9 million for the equivalent period ended 31st March 2008. The final net profit for the period has been reduced by the loss of €3.8 million, being Bank of Valletta p.l.c. share of the results of associates and jointly controlled entities (2008: profit of €3.1 million). The net operating profit from core banking operations for the six months amounts to €42.1 million (2008: €47.9 million). Customer Deposits have continued to grow in a satisfactory manner, with an increase of €51 million over the six months, to stand at €4.7 billion as at 31st March 2009. The increase in Customer Deposits over the 12 months from March 2008 amounted to close to €160 million.
HSBC Bank Malta p.l.c. rallied and gained €0.07 to close at €2.47 per share. A high trading volume that started later in the session in which 34,000 shares were executed through the highest number of transactions being nineteen trades. Best bid is at €2.48 for 5,000 shares against the best offer at €2.53 for 3,508 shares. A gain of €0.122 per share has been made by HSBC Bank Malta p.l.c. in the last week.
Remaining in the banking sector, Lombard Bank Malta p.l.c. remained neutral and closed at €2.70 per share. Three deals were performed with 2,784 shares being swapped.
Elsewhere on the local stock market three other companies traded. GO p.l.c. retained its share price of €1.68 in which five trades were executed over 6,486 shares. International Hotel Investments p.l.c. and Medserv p.l.c. also made gains of €0.018 and €0.05 whose share prices closed at €0.848 and €3.55 respectively.
On Thursday 30th April 2009, the directors of Malta International Airport p.l.c. announced that a net dividend of €0.057 per share which represents a net payment of €3,856,050 be hereby approved.
In the fixed interest market, a total of €758,300 (Eight deals) was transacted in Government Bonds. Meanwhile, a total of €92,371 (Thirteen deals) was transacted in Corporate Bonds.

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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06 May 2009

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