MSE

Trading Report for week ending December 18, 2009

Strong

recovery for Middlesea shares

The Malta

Stock Exchange Index ended the week on a positive note as the Index gained

0.27 per cent on the week, hence closing at 3,430.147 points. The Index kicked

off the week on a positive note as similar gains were registered on Monday and

Tuesday. Some losses were recorded on Wednesday and Thursday, while some of

these losses were recouped yesterday as a minimal gain of 0.077 per cent was

registered. Tuesday’s gain of 0.255 per cent saw the Index reaching a new high

for the year, as activity and trading value in the equity market increased.

However, activity declined during the mid-week session, while it gained

momentum again on Thursday and Friday. Seventeen equities were traded with 11

ending on a positive note, four closing in the red, and the remaining two

closed unchanged.  

Total transactions increased to 310 during

the week with a turnover of over of EUR 7.8m, up from EUR 6m recorded last week.

In the equity market 162 deals were

executed for a total value of EUR 467,738 while in the corporate bond market 112 transactions were registered as value

traded increased to EUR 844,280. Activity in the government bond market increased too as a value of over EUR 5.6m

was traded across 32 transactions. In the treasury

bills market, four transactions of EUR 909,105 were executed.

Middlesea

Insurance plc was the overall best performing equity of the week

having soared by 12.86 per cent or EUR 0.081 over the previous week to reach a

weekly high of EUR 0.711. The equity lost some ground on Monday while gains

were registered during the other two trading sessions. The insurance company

was also the most liquid equity of the week as 38,798 shares were swapped

across 27 deals. On Wednesday the company announced that its Rights Issue has

been fully subscribed with the major shareholders having taken up their

proportionate entitlement, with BOV and Mapfre Internacional subscribed for a

further 12,547,184 excess shares. Individual shareholders amounting to 1,149

also took up their proportionate entitlement in part or in full, or received

entitlements from existing shareholders. The shareholding structure of

Middlesea has now changed considerably with BOV and Mapfre holding 30.8% each,

up from 21.6% and 21.0% respectively. Munich Re’s share remained unchanged at

19.9%, while individual shareholders now hold 18.5%, down from the previous

37.5%.  

Meanwhile, Bank of Valletta plc registered the highest number of trades for

the week as 36 transactions of just over 34,000 shares were executed. The

equity started the week on a positive note as Monday’s session closed at a

weekly high of EUR 3.80, which it maintained until Tuesday. The equity ended the

following two sessions in the red, while yesterday’s gain was enough to make up

for the losses and close the week at EUR 3.78, hence unchanged over the week.

The company announced that during Wednesday’s Annual General Meeting the board

of directors approved all the resolutions on the agenda and that a gross final

dividend of EUR 0.215 was to be paid on Thursday.

From the banking sector FIMBank plc headed the list of gainers

as a gain of 5.45 per cent or USD 0.06 was registered on Tuesday over one

single transaction of 900 deals. Another deal on Wednesday left the equity

unchanged to close the week at USD 1.16. Trading volume went down from nearly

14,000 shares last week to 2,620 shares.

On the other hand the share price of HSBC Bank Malta plc fell to EUR 3.23 as turnover amounted

to 28,390 shares over 25 deals. Converse to last week the equity did not

register any gains during the week as it traded unchanged during the first

three sessions, while some losses were unleashed on Thursday and Friday.

Lombard

Bank plc closed

all the sessions either in positive or stable territory during the week as

18,000 shares were exchanged across eight transactions. The equity registered

gains of 2.79 per cent on the week to reach EUR 2.95.   

GO plc maintained

its positive stance as the equity registered a weekly gain of 2.71 per cent or EUR

0.055 as 24 transactions of 30,640 shares were executed. Yesterday the equity

reached a new high for the year of EUR 2.085, with the equity’s positive

year-to-date performance now standing at just over 19 per cent. Likewise Medserv plc closed the week on a

positive note as yesterday the equity reached a new all time high, having

appreciated by 2.44 per cent or EUR 0.10 on the week with the price now

standing at EUR 4.20.       

Just under 8,400 shares over six deals in Global Capital plc were exchanged

during the week, as the equity started the week in decline, while similar gains

of 4.55 per cent and 4.35 per cent registered during the closing two sessions.

The equity’s price now stands at EUR 1.20. Maltapost

plc also closed in positive territory as the equity was active on Tuesday

and Thursday, as the price climbed by 1.38 per cent and 4.55 per cent

respectively.

Meanwhile, Malta International Airport plc (MIA) and RS2 Software plc closed the week in decline as both equities

registered losses during yesterday’s session. MIA registered minimal gains on Tuesday, while a decline of 2.08 per

cent was registered during the final session with the price closing at EUR 2.35.

RS2 lost EUR 0.04 on a negligible 2,100 shares to close at EUR 0.557.

International

Hotel Investments plc and Island

Hotels Group plc traded only on Thursday’s session as the former lost

ground over 14,250 shares while the latter traded unchanged on 100 shares. The closing

prices for both equities now stand at EUR 0.80 and EUR 1.02 respectively.

For the second week running Crimsonwing plc registered a gain of

5.41 per cent on Monday over 5,000 shares to reach EUR 0.39 which it maintained

during the next trading session. Likewise, Simonds

Farsons Cisk plc registered a gain of 4.29 per cent on Monday, while

trading unchanged during the mid-week session at EUR 1.70.

Plaza

Centres plc was active on Thursday’s session as 6,000 shares were

traded. The equity climbed by 4.49 per cent to reach EUR 1.63. One transaction

of 2,940 shares in Datatrak Holdings plc

elevated the price to EUR 0.072, hence ending 2.86 per cent higher on the week.

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].