MSE | Wednesday, 25 November 2009

GlobalCapital Financial Management Ltd - Malta Stock Exchange Review

Local bourse maintains positive movement

Yesterday, the local market witnessed another positive session as the MSE Index registered an increase of 0.52% to close at 3335.71 points. Nine stocks were negotiated in the equity market, in which two stocks closed unchanged from their previous close, two traded lower while the remaining equities managed to advance.
On the banking sector, Bank of Valletta p.l.c. and HSBC Bank Malta p.l.c. moved in opposite directions. The share price of BOV lost €4c0 at €3.76 across 6,582 shares. Meanwhile, on stronger volume of 13,500 shares, the share price climbed €7c0 to hit the €3.09 level.
On a positive note, the shares of GlobalCapital p.l.c. registered a satisfactory €6c5 gain to finish at the €1.065 level across 240 shares. At the end of trading, bids for 1,840 shares stood at €1.065, whereas the best offer for 960 shares stood at €1.498.
On the insurance front, Middlesea Insurance p.l.c. dropped €10c0 to settle at the €0.65 level. This equity was the most liquid stock of the day as 32,232 shares were swapped across nine transactions. On Friday 20th November Middlesea Insurance p.l.c. announced that the resolutions were approved at the Extraordinary General Meeting.
Meanwhile, the shares of GO p.l.c. and International Hotel Investments p.l.c. traded €2c5 and €1c0 higher to reach the €1.895 and €0.81 level respectively. The volume traded in GO P.l.c. amounted to 3,000 shares while 5,912 shares were negotiated in IHI.
On Friday 20th November, International Hotel Investments p.l.c. announced that Mr Giuseppe Sita has resigned as Director of the mentioned Company.
Island Hotels Group Holdings p.l.c. was another stock which made some headway. The share price gained €1c0 at €1.02 across 1,000 shares. Elsewhere on the board, the shares of Medserv p.l.c. and Datatrak Holdings p.l.c. traded sideways without affecting their previous session close at €4.00 and €0.07 respectively.
On Friday 20th November Malta International Airport p.l.c. announced that following the publication of the unaudited financial statements for the six months ended 30th June 2009, no material events and /or transactions have taken place that would have an impact on the financial position of the Company, such that they would require specific mention, disclosure or announcement pursuant to the applicable Listing Rules. During the period under review, the financial position of the Company has remained sound. For the second half of the year passenger traffic has improved significantly compared to the first half of the year, but is more or less what the Company anticipated at the beginning of the year. The passenger numbers for the forthcoming winter season should largely be at the 2009 level with perhaps some small improvements. In the meantime, the Company has set up a new 100% owned subsidiary Sky Parks Development Ltd to manage and operate the proposed development of the Business Centre in the vicinity of the Airport Terminal. Subject to any unforeseen circumstances, the Directors expect the Company’s financial results for the year will be largely in line with the financial projections made at the beginning of the year and with those of the previous year.
On Friday 20th November, MaltaPost p.l.c. announced that the Board of Directors will be meeting on Thursday 21st January 2010 to consider and approve the MaltaPost p.l.c. Financial Statements for the year ended 30th September 2009. In the fixed interest market, a total of €88,604 (twelve deals) was transacted in Corporate Bonds. Meanwhile, a total of €75,075 (twelve deals) was transacted in Government 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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25 November 2009


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