MSE Trading Report for week ending July 24, 2009

MSE Index back to February levels

The gains registered in most local listed equities contributed to a 4.96 per cent rise in the Malta Stock Exchange Index, as it closed the week at 3,112.892 points, a level not seen since the beginning of February.

Almost half of the total deals were registered in the equity market, with 207,987 shares changing hands across 104 deals, for a total value of EUR 430,782. HSBC Bank Malta plc was the most traded in volume, as more than 62,000 shares changed hands over 28 deals.

The MSE Index had a mixed week, as it decreased on Wednesday and Friday, however gains on Monday (0.451 per cent), Tuesday (3.38 per cent) and Thursday (1.895 per cent) helped the Index to register a somewhat exceptional week, as seven out of ten equities traded registered gains.

A total of 221 deals were registered over the week with a turnover of over EUR 2.34m. In the government bond market 28 transactions were registered for a value traded of EUR 362,491, while a total of 80 transactions were registered in the corporate bond market for a value of EUR 562,739. This is an exception to the norm as corporate bonds exceeded government bonds both in value and number of holdings traded. In the treasury bills market a total of 8 transactions were registered for a total value of EUR 971,732.

All banking equities registered increases during the week. HSBC Bank Malta plc (HSBC) remained the best performing equity from the banking sector. HSBC registered a rise of 7.14%, closing the week at EUR 2.85, appreciating by EUR 0.19. HSBC registered its highest gain of the week on Thursday, as it increased by 4.78%, having also increased on Monday and Wednesday. Clearly, investors are buying HSBC shares ahead of the announcement of the interim result due to be published next Friday.

The share price of FIMBank plc registered its first rise on the week since mid-April, closing at USD 1.20. The equity traded twice during the week, as 11,699 shares changed hands, thus registering an increase of 2.56%. This rise was registered on Tuesday, edging the share price USD 0.03 higher than last week’s closing price.

Bank of Valletta plc (BOV) continued to register its marginal increases on the week, as it increased by EUR 0.021. The closing share price for the week was EUR 2.701, a rise of 0.78%, as 45,350 shares changing hands on 35 deals. The equity traded at a low of EUR 2.68 and a high of EUR 2.75. BOV lost 1.42% yesterday, although it increased on Monday (0.71%), Wednesday (0.04%) and Thursday (1.48%).

Lombard Bank plc registered a marginal rise of EUR 0.001 this week. The equity closed at EUR 2.55, as 6,000 shares changed hands on two transactions.

Crimsonwing plc was the best performer from the traded equities, having traded 13,000 shares across five deals. Crimsonwing advanced an overwhelming 56% on Wednesday, closing the week EUR 0.14 higher. The closing share price for the week was EUR 0.39. The Company announced that the Board of Directors is scheduled to meet on the July 28, 2009, approve the Annual Financial Statements.

The share price of GO plc is on its second consecutive negative week. GO closed the week at EUR 1.751, a loss of EUR 0.039, or 2.18%, as 20,450 shares changed hands over 10 deals. The equity which is now at a year to date loss of 0.06%, increased on Thursday by 0.06%, having decreasing on Monday by 2.23%.

International Hotel Investments (IHI) was one of the equities to register gains this week. IHI registered a rise of almost 11%, after trading 28,184 shares on eight deals. The equity closed the week at EUR 0.899, an increase of EUR 0.089. IHI registered a staggering increase of 17.28% on Tuesday but retrieved some 5.37% on Wednesday, dragging the MSE index down on the day as it is one of the largest capitalised companies on the MSE.

Malta International Airport plc (MIA) also registered an increase in its share price. MIA traded 16,650 shares across eight deals, closing the week at EUR 2.23, a rise of EUR 0.18, or 8.78%. The equity traded on Thursday and Friday, increasing on both days by 2.44% and 6.19% respectively. MIA traded at a high of EUR 2.23 and a low of EUR 2.07. The increase in price followed an announcement by the company that it will be developing part of the land at the MIA subject to building permit approval.

During the week, MIA plc announced that the Board of Directors is scheduled to meet on the July 30, 2009, to approve the Company’s Interim Financial Statements for the six months ended June 30, 2009.

MaltaPost plc lost EUR 0.011 on a single deal of 1,000 shares yesterday, as the equity closed at EUR 0.699, decreasing by 1.55%.

Middlesea Insurance plc depreciated by EUR 0.01 on the week. The closing price for the week was EUR 1.85, with 3,500 shares changing hands on five transactions.

This article which was compiled by Jesmond Mizzi Financial Services Limited (JMFS) does not intend to give investment advice and the contents therein should not be construed as such.  JMFS is licensed to conduct investment services by the MFSA. The directors or related parties, including the company, and their clients are likely to have an interest in securities mentioned in this article. For further information contact JMFS at 67/3, South Street, Valletta or on Tel: 21224410 or email [email protected].