maltastar.com

Main banking stocks register a decline

17 December 2009 14:48

During the fourth session of the week the local bourse lost 0.21% to close at 3427.49 points. Bank of Valletta p.l.c. and HSBC Bank Malta p.l.c. traded lower while a positive session was witnessed from GlobalCapital p.l.c., Medserv p.l.c. and Plaza Centres p.l.c.

· Large-caps Bank of Valletta p.l.c. and HSBC Bank Malta p.l.c. finished on the back foot as their share price slipped €1c0 and €0c1 to settle at the €3.77 and €3.249 level respectively.

· On a turnover of 14,250 shares, the shares of the International Hotel Investments p.l.c. closed €2c0 lower at €0.80. These shares were swapped across three trades that carried a market value of €11,400.

· On a positive note the shares of GlobalCapital p.l.c. advanced €5c0 at €1.15 across 5,000 shares. The shares of Medserv p.l.c. and Plaza Centres p.l.c. followed suit as their share price climbed €8c0 and €7c0 to finish at €4.18 and €1.63 respectively.

· A strong volume of 30,996 shares helped the shares of MaltaPost p.l.c. to increase €3c0 at €0.69. Meanwhile 11,058 shares changed hands in Middlesea p.l.c. to close €4c5 higher at €0.665.

· Elsewhere, Go p.l.c., and Island Hotels Group Holdings p.l.c. traded sideways without affecting their previous session close at €2.06 and €1.02 respectively.

U.K. - Market News & Gossip

· The FT highlights how Punch Taverns states it would conduct a full review of its remuneration policy after 55% of shareholders that voted, voted against its current policy, but does state that the shareholder vote was advisory only.

· The Independent highlights how Joe Lewis, who holds a 23% stake in Mitchells and Butlers is demanding the appointment of four new directors.

· The paper also has a new survey which has 36% of business leaders seeing green shoots in December, down from 49% in November.

· The Guardian writes on how Michael Fallon MP has left his post as chairman of the remuneration committee at Tullet Prebon, reportedly to avoid criticism’s of the firm’s policy to relocate staff to countries which have ‘more certain taxation regimes’.

E.U. - Market News & Gossip

· The FT suggests that Deutsche Bank has emerged as a key bidder for RBS Sempra, in a deal that could be worth around $3bn.

· Spanish press suggests that Antena 3 and unlisted La Sexta are planning to merge and highlights a possible round of consolidation ahead in the sector.

· Government sources play down recent reports and states that it s not looking to draft legislation that will cut the amount of advertising that pay-TV can carry.

· A senior EADS executive states that it is still interested in making US acquisitions.

· VW states that it is looking to link the salaries of its senior managers to customer and employee satisfaction.

· The head of Fortis states that it would make a profit in its Russian operations in 2010.

· SAS is in the news as the unite union announces that baggage handlers in its SAS Ground Services unit would start a series of 48 hour strikes.

U.S. - Market News & Gossip

· Eli Lilly will be eyed as the UK NHS has rejected the use of its Alimta cancer drug citing data uncertainties.

· AIG is in the news as The Times suggests it is ready to file a prospectus for its Asian life insurance business soon, which could raise $10-20bn.

· Cable and broadband provides will be eyed after the US administration plans to award $2bn in grants over the next 75 days to expand US broadband usage.

· Bank of America announces that Brian Moynihan the chief of its consumer and small business unit is to succeed Kenneth Lewis as chief.

· US press highlights how Ford is looking at ways where consumers will be able to upgrade the electronics in their vehicles in the same way that users can currently upgrade and add applications to iPhones · The FTC has accused Intel of using illegal tactics to stifle competition as it adds a batch of fresh allegations against the chipmaker.

· The WSJ writes on how Yum Brands is planning a major push of its KFC.

Alan-Charles Bishop

Source: Man Financial Ltd.

Date: 17/12/2009

Issued by GlobalCapital Financial Management Ltd, 120 The Strand, Gzira, GZR03 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 info@globalcapital.com.mt or Tel: 21 310088. GlobalCapital Financial Management Ltd, is a member of the Malta Stock Exchange and is licensed by the Malta Financial Services Authority (MFSA).

	Contact Us Advertise Terms of Use Privacy Policy Help Copyright Disclaimer
Developed by ICT Systems Engineering