Low trading activity on the MSE

MSE Trading Report for week ending August 14, 2009

Low trading activity on the MSE

The Malta Stock Exchange Index recovered a marginal 0.56 per cent from last week’s loss of just over 5.75 per cent, closing at 3,065.655 points. This week eight equities were traded, with two closing in positive territory, three remaining unchanged and three closing in negative territory.

Although the MSE Index closed week-on-week higher, it decreased on three trading days. Yesterday, an increase of 7.41% in the share price of Bank of Valletta plc kept the index up on the week as it gained 1.522 per cent.

A total of 156 deals were registered over the week with a turnover of over EUR 6.55m, including two put-through trades for a total value of EUR 7,105. In the equity market 58 transactions were executed for a total value of EUR 205,266, while in the corporate bond market 58 transactions were registered for a value traded of EUR 758,877. A total of 30 deals were registered in the government bond market for a value of EUR 562,984. In the treasury bills market a total of eight transactions were registered for a total value of over EUR 5.02m.

Bank of Valletta plc (BOV) remained unchanged this week, as the equity closed the week at EUR 2.90. BOV was the highest traded equity this week as 33,192 shares changed hands across 19 deals, for a total value of EUR 94,902. The equity registered its only gain of the week yesterday, after the equity registered three consecutive days of losses, with the range of the share price being between EUR 2.70 and EUR 2.90.

HSBC Bank Malta plc (HSBC) recovered some of last week’s losses of 12.08 per cent, as the equity was the best performer for the week. HSBC registered 19 deals of 21,813 shares, and thus appreciating by 1.95 per cent. The equity closed the week at EUR 2.671, a rise of EUR 0.051. HSBC was the only equity traded throughout the week, registering three increases on Tuesday (1.92 per cent), Wednesday (0.75 per cent) and yesterday (0.6 per cent). HSBC traded at a high of EUR 2.70 and low of EUR 2.60, as the equity is now at a year-to-date loss of 1.07 per cent.

Lombard Bank plc registered a loss of 1.92 per cent on Thursday, closing the week at EUR 2.55, EUR 0.05 lower than last week, as 3,400 shares changed hands on three deals.

FIMBank plc registered a marginal loss of USD 0.001 on Tuesday. FIMBank closed the week at USD 1.289, with 500 shares changing hands over a single deal. On Thursday afternoon, the Group announced that the Board of Directors met in London on the same day, to approve the Condensed Interim Financial Statements for the period from January 1, 2009 to June 30, 2009.

The Group registered a decreased of 72.5 per cent in its Operating Income, from USD 47.3m in the first half of 2008 to USD 12.99m in the first half of 2009. Likewise, Profit for the period decreased by USD 20.9m, from USD 23.8m to USD 2.9m. It should be noted that last year’s Half-Year profit included a profit on disposal of USD 19.35m. Earnings per share for the period decreased from USD 0.2002 to USD 0.0215. The Directors did not recommend the payment of an interim dividend for the period under review.

GO plc was the other equity to register gains on the week. The share price of GO edged EUR 0.01 higher, as it closed the week at EUR 1.80, a rise of 0.56 per cent, as 21,200 shares changed hands over 11 deals.

International Hotel Investments plc (IHI) remained unchanged this week, as the equity traded only on Monday, with 2,250 shares changing hands on just one deal, closing the week at EUR 0.841.

Simonds Farsons Cisk plc also closed the week unchanged this week, trading at EUR 1.68 on a single deal of 508 shares.

MaltaPost plc was the other equity to register a loss in its share price, closing the week at EUR 0.69, depreciating by 1.43 per cent, or EUR 0.01, with 4,000 shares changing hands on three deals.

This week, Grand Harbour Marina plc and RS2 Software plc announced that their Board of Directors are scheduled to meet on the August 28, 2009, and August 18, 2009, respectively to consider, and if thought fit, approve the Interim Financial Statements of their Companies for the financial period ended June 30, 2009.

This article which was compiled by Jesmond Mizzi, Managing Directors of 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].