GlobalCapital Financial Management Ltd - Malta Stock Exchange Review
A good day for IHI p.l.c. shares
Yesterday, local stocks put in another lackluster performance, as investors seem to be waiting to see if leading stocks could latch on to a direction. The shares of International Hotel Investments p.l.c. witnessed an outstanding performance and helped the Malta Stock Exchange Index to climb 3.38% to close at 3079.81 points. On another positive note, no decliners were recorded.
The shares of International Hotel Investments p.l.c. were the darlings of the market, adding some spice to the second session of the week. This stock acted as the most influential leader on the upside, after benefiting from sufficient buying interest to push the share price up €14c0 or 17.28% to settle at the €0.95 level on a volume of 10,000 shares. The lowest traded price during the session was €0.885, whereas the highest traded price of the day was €0.95.
The other stock that managed to advance was FIMBank p.l.c. A total of 1,699 shares dealt over one single deal, caused the price to increase by US$3c0 to read US$1.20. At the end of trading, bids for 10,588 shares stood at US$1.17, whereas the best offer for 4,706 shares stood at US$1.29. Week on week, the shares of FIMBank p.l.c. gained 2.6% from its closing price of US$1.17 on Tuesday 14th July.
Remaining on the banking front, the shares of Bank of Valletta p.l.c. maintained their previous session price at €2.699 after 7,626 shares worth €20,583 were swapped in five transactions. The price shifted in a very tight range of €2.699 to €2.70. The total turnover of the week amounted to 35,509 shares.
Large-cap HSBC Bank Malta p.l.c. followed suit. The share price traded sideways without affecting their previous session close at €2.70. The total turnover amounted to 9,970 shares and swapped across eight trades. Week on week, the shares of HSBC p.l.c. increased 3.4% from its closing price of €2.61 on Tuesday 14th July.
On the telecommunications front, GO p.l.c. preferred to stay on the sidelines and closed unchanged at €1.75. The volume was thin as only 3,500 shares were negotiated in two transactions. At market close, best unsatisfied bids stood at €1.75 for 1,000 shares against best offers of 2,000 shares at €1.799.
Last week, Plaza Centres p.l.c. announced that the Board of Directors shall meet on Monday 27th July 2009 to consider and approve the company’s Interim Financial Statements for the half year ended 30th June 2009.
On Tuesday 21st July, Malta International Airport p.l.c. announced that the Board of Directors is scheduled to meet on the 30th July 2009 to consider and approve the Company’s Interim Financial Statements for the six months ended 30th June 2009. It is also expected that the Board of Directors will consider the payment of an interim dividend at that meeting.
In the fixed interest market, a total of €110,552 (fourteen deals) were transacted in Corporate Bonds. Meanwhile, a total of €30,534 (five deals) were transacted in Government Bonds.
The turnover value in the Treasury Bill market amounted to €6,975.