MSE

Trading Report for week ending November 20, 2009

Middlesea

Insurance share price falls by

€0.50 on 100 shares

The Malta

Stock Exchange Index registered its first week-on-week decline in three

weeks, closing the week at 3,293.489 points, a loss of 0.67 per cent. Although

having closed the week in negative territory, the index registered gains on

three consecutive sessions, ranging from 0.054 per cent to 0.304 per cent, with

losses of 0.634 per cent and 0.593 per cent being registered on Monday and

yesterday respectively. Thirteen equities were traded this week, with five closing

in positive territory, three remaining unchanged, and five closing in negative territory.

A total of 322 deals were registered over

the week with a turnover of over EUR 3.87m. In the equity market 195 deals were executed for a total value of EUR 487,816,

while in the corporate bond market 89

transactions were registered for a value traded of EUR 688,060. A total of 32

deals were registered in the government

bond market for a value of EUR 815,630. In the treasury bills market, a total of six transactions were registered

for a total value of over EUR 1.88m.

This week was

characterised by a drastic fall in the share price of Middlesea Insurance plc which closed the week at EUR 0.70, 44% lower than

the previous week closing price. This drop came about following one trade

executed yesterday for one hundred shares which brought the price down by EUR 0.50

from Tuesday’s closing price of EUR 1.20. This occurred as the Company was

holding an extraordinary general meeting which approved a Rights Issue of

67million new Ordinary Shares, to be issued in the ratio of 2.68 new shares for

every one existing share at an offer price of EUR 0.60 per share. In a Company

Announcement prior to the meeting the Company stated that the three main

shareholders, Bank of Valletta, Mapfre Internacional and Munich Re had given

their commitment to subscribe to their proportional entitlement, with the first

two agreeing to take any New Ordinary Shares not taken up by other

shareholders.

Datatrak

Holdings plc also saw a hefty decline

in its share price which fell by 63.16 per cent lower than the previous week.

Datatrak’s share price stands at a meagre EUR 0.07 as 2,155 shares traded

across four deals this week

Lombard

Bank plc registered

gains for the third week in a row as it closed the week as the best performing

equity from the banking sector. The equity registered a rise of 1.78 per cent,

having registered a minimal volume of 4,200 shares as three deals were

executed. The closing share price for the week was EUR 2.79 a rise of almost EUR

0.05 when compared to the previous week. Lombard traded only on two sessions,

registering gains on Monday while retracing some of the gains on Thursday.

The share price of HSBC Bank Malta plc registered

a mere gain of 0.33 per cent, as a nominal volume of 50,253 shares changed

hands across 49 deals. Trading volume was very low during the week, with the

exception of the mid-week session where almost 22,500 shares were traded. On

Thursday’s session the equity reached its highest price of EUR 3.00, which it maintained

during yesterday’s session. Throughout this week’s opening session the equity

lost some value, but traded unchanged on three trading sessions.

Bank of

Valletta plc for the third week in a row registered the highest

number of trades, as 36,730 shares changed hands over 52 deals. During the week

the equity traded at a high of EUR 3.84 and a low of EUR 3.80. The latter was

the opening and closing price of the equity hence no change in price was

recorded.

Contrary to the previous week, FIMBank plc registered a decline in

price of nearly USD 0.05 or 3.93 per cent, as 29,626 nominal were traded across

10 deals. The closing share price for the week stands at USD 1.10.

Malta

International Airport plc was this week’s best performer as almost

13,000 equities were traded over 12 deals. MIA registered gains on Tuesday and

Wednesday, with the mid-week session taking the lion’s share as a hefty gain of

EUR 0.104 was registered. The equity retraced some of its previous gains during

yesterday’s session as the share price stood at EUR 2.35.

GO was this

week’s second best performer as 36 transactions were executed for a total of

54,919 shares. The equity traded at a low of EUR 1.73 on Monday and a high of EUR

1.82 on Thursday and Friday. Out of the most actively traded equities, GO was

the only equity to conclude the week with no losses in each trading session.

The equity closed up 5.81% on the week, thus reverting the year to date

performance to a positive 3.88%.

International

Hotels Investments and RS2

Software ended the week both in decline as the equities ended the week at EUR

0.80 and EUR 0.60 respectively. IHI traded only during the first two sessions

of the week as 11 trades were recorded. Meanwhile RS2 registered one single

trade, over which 1,600 shares changed hands.

GlobalCapital

plc,

MaltaPost plc and Medserv plc traded only once during the

week. Out of the three Maltapost registered the highest volume as 10,236 shares

were traded during yesterday’s session as the equity registered a slight price

increase. Medserv followed at 2,000 nominal, while during the mid-week session

GlobalCapital traded a mere 749 shares. Both equities ended the week unchanged.

This article, which was compiled by Jesmond

Mizzi, Managing Director 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].