MSE Trading Report for week ending March 26, 2010

Small caps soar on negligible deals

The Malta Stock Exchange Index edged slightly lower for the fourth consecutive week, having lost 0.37 per cent on the week ending yesterday’s session at 3,576.707 points. Activity was well widespread as seventeen equities out of the twenty listings on the local exchange were traded. Nine equities managed a gain, however the losses registered by another six equities were enough to direct the Index downwards.

The total amount of transactions on the local exchange amounted to 288 as turnover closed slightly shy of Eur15m. In the equity market, 152 deals were executed for a total value of Eur454,884 as 247,884 shares changed hands. In the Corporate Bonds market transactions increased to 80 for a total value of Eur519,545. In the Government Stocks market over Eur3.2m, down from Eur5.5m recorded last week, was dealt across 52 transactions, while over Eur10.6m was traded in Treasury Bills.

From the financial equities, Middlesea Insurance plc headed the list of gainers having gained 4.17 per cent on the week to close at Eur0.75 after ending the previous week at Eur0.72. Trading volume increased to 20,601 shares across ten deals, with over 11,700 shares traded during Friday’s session. This week’s gain lessened some of the equity’s losses year-to-date which now stands at 6.72 per cent.

Bank of Valletta plc registered a gain across four trading sessions, while shedding some ground on Tuesday. Trading volume declined to 45,981 shares across 47 transactions as the equity’s price hovered between a weekly low of Eur3.26 and a high of Eur3.285, but closing at Eur3.28, hence edging 0.92 per cent up.

On the contrary, HSBC Bank Malta plc lost all of last week’s gains as the equity ended the week 0.91 per cent in decline at Eur3.28. Twenty-four deals of 11,691 shares, up from 2,530 traded last week, were executed. The Bank’s share price lost ground during the opening two sessions, remaining unchanged in the final three sessions. Despite this week’s negative performance the equity is still up 1.55 per cent year-to-date.

Similarly, Lombard Bank plc ended the week in the red after the equity ended both sessions during which it was active in decline. On the week, the Bank lost 3.55 per cent or Eur0.11 as 3,230 shares changed hands over four deals. Meanwhile, two trades of 1,000 shares in FIMBank plc were executed as the last transaction of the week appreciated the share price to $1.15, hence closing 0.97 per cent up.

From the IT Sector three equities were active as two recorded a respectable gain and one equity lost ground. In fact, RS2 Software plc closed at Eur0.48, having lost 4 per cent on the week as one deal of 6,000 shares was executed, while Loqus Holdings plc closed up for the second consecutive week gaining 23 per cent on one deal of 3,125 shares. Likewise, Crimsonwing plc ended the week at Eur0.46 as 10,000 shares were traded, thus registering a gain of 12.2% on the week.

As in recent weeks, MaltaPost plc was the most liquid equity of the week as 59,700 shares were dealt on nine transactions. However, for the second week in a row the equity lost ground, as the postal operator closed Friday’s session at Eur0.749, 4.71 per cent down on the week.

Similarly, GO plc shed 2.64 per cent to end the week at Eur2.18, having closed the previous week at Eur2.239. Trading volume increased to 33,640 shares as 21 deals were executed. Meanwhile, Malta International Airport plc registered a similar loss of 2.78 per cent having lost a hefty Eur0.14 on Monday. The equity managed to recoup some lost ground on Thursday to end the week at Eur3.15.

International Hotel Investments plc registered a 0.13 per cent gain to end the week at Eur0.801, while Plaza Centres plc managed a 1.21 per cent gain as 11,000 shares were traded on four deals, hence closing the week at Eur1.67.

Meanwhile, one transaction of 500 shares in Santumas Shareholdings plc left the price unchanged at Eur2.60, and Island Hotels Group Holdings plc closed flat at Eur1.01 as 5,600 shares were dealt over five deals.

Simonds Farsons Cisk plc closed the week 1.13 per cent up as the equity was active over one deal executed at Eur1.699. Likewise, Grand Harbour Marina plc registered a 3.68 per cent or Eur0.07 gain on the week as 7,500 shares changed hands over two deals.

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].