|
Price volatility was limited to a few equities last week, although this was enough to push the Malta Stock Exchange Index to a new record high of 6,357 points. Activity was sustained, with an aggregate 460,634 shares traded over 860 deals.
The highest gains for the week were registered in Bank of Valletta shares which rallied by almost 6 per cent to a fresh one month high of Lm4.84c9. A combined volume of 128,831 shares were traded throughout the five day stretch, within a price range of Lm4.57c9 and Lm4.85c.
A similar volume activity was registered in HSBC Bank Malta albeit on double the number of trades. Overall the price advanced by 1.4 per cent to a record closing high of Lm11.05c. Investors continued to buy the equity on anticipation of increased liquidity following the 3-for-1 bonus issue, which will be effective at the close of 18th April, 2006.
Meanwhile Lombard Bank shares turned ex-div on Tuesday with the equity remaining mostly inactive for the rest of the week. In effect after closing at a record level of Lm12 on Monday, the equity traded again on Friday, when the share price dipped by 24c, a few cents more than the 20c gross dividend declared by the Bank at the end of February. Way back in December the Bank had also announced a 1-for-1 share split which, once approved by shareholders at the AGM, shall become effective as from the third week of May.
Significantly in negative territory ended shares of Global Financial Services Group and Plaza Centres which lost in excess of 4 per cent to close at Lm1.70c and Lm0.65c, respectively.
Elsewhere, price fluctuations were limited to 1 per cent or less, with the exception of Middlesea Insurance which advanced by 1.4 per cent to regain the Lm5 level.
In the meantime, the government announced this week a fresh tranche of Government Stock which will consist of a fungibility issue on the 4.8% MGS 2016(II) at an offer price of Lm104. Applications will open this Tuesday and will close on Friday.
This article was compiled by BOV Stockbrokers Ltd, a member of the BOV Group. BOVSL is licensed to conduct investment services business by the MFSA. BOVSL’s offices are situated at BOV Centre, Cannon Road, Santa Venera HMR 07. You can also contact BOVSL by email at bovsl@bov.com, by phoning on 2275 1732 or else visit he website at www.bovsl.com.
|
