MSE

Trading Report for week ending October 15, 2010

Index up despite losses by banking equities

Notwithstanding a negative week-on-week

performance by nearly all traded financial equities, the Malta Stock Exchange Index managed to end the week with a slight

gain of 0.04 per cent. A positive performance by three equities was enough to

propel the Index in the green this week, following a decline of 1.44 per cent

registered the previous week. Turnover in the equity market soared as over Eur1m

was traded, with the two major banks taking the lion’s share. In terms of

trading volume, MaltaPost shares

outpaced the other equities as almost 110,000 shares were traded. Throughout

the week 14 equities were active; only three moved higher, seven ended lower

and four closed unchanged.

In the equity market turnover jumped from Eur626,347 traded last week to

over Eur1m as 177 deals of 541,343 shares were executed. In the Government Bond market turnover

declined to Eur5.2m while one trade was executed in the Treasury Bill market for a value of almost Eur1.2m. In the Corporate Bond market activity surged

on the week as 127 transactions of Eur0.7m were traded.

Activity in Bank of Valletta plc shares remained on a high note reaching the

highest value this week as over Eur230,000 was traded. The Bank’s share price

started the week with a negative three-day streak, regaining some ground on

Thursday and closing flat on Friday to end the week at Eur3.24. Notwithstanding

this week’s 0.92 per cent loss, the Bank’s performance year-to-date stands at

4.65 per cent in positive territory.

Similarly, HSBC Bank Malta plc shares edged lower with a minimal decline of

0.25 per cent. Turnover in the equity increased further with nearly Eur197,000

being traded across 37 deals of 70,312 shares. Throughout the week, the

equity’s price barely fluctuated as the equity closed yesterday’s session at Eur2.798.

Despite the negative sentiment

surrounding financial equities, Middlesea

Insurance plc shares posted a 5.26 per cent gain. Since the beginning of the

month to date, the equity climbed over 7 per cent having finished the week at Eur1.

Liquidity however remained on the low side, with just over 6,200 shares being

traded across seven transactions.

Over 35,300 shares dealt across six

transactions in FIMBank plc depreciated

the price by over 1.04 per cent to $0.95, while Lombard Bank plc lost further ground on a negligible deal of 625

shares. The Bank’s equity ended the week at Eur2.70, which results in a

negative year-to-date performance of 9.7 per cent.

Following last week’s hefty decline, Simonds Farsons Cisk plc shares managed

to recover some of the lost ground ending the week at Eur1.75, a gain of 7.03

per cent or Eur0.115. This equity was only active on two trading days during

which 1,599 shares were dealt across four transactions. Throughout the week the

equity’s price fluctuated between a low of Eur1.65 and a high of Eur1.75, the

week’s closing price.

Meanwhile, Malta International Airport plc (MIA) share price moved up by 3.87

per cent as the equity recorded gains across four trading days, while it closed

flat on Tuesday. Turnover in the equity totalled Eur82,706 as nearly 54,000

shares changed hands over 17 transactions. Since the beginning of the year

MIA’s performance shows a 30 per cent gain as the equity finished the week

under review at Eur1.558.

Conversely, GO plc edged minimally lower following a 0.54 per cent decline registered

on Thursday while it closed flat in the other two sessions during which it was

active. Liquidity in the equity surged to over 80,000 shares from 5,495 shares

traded last week, closing yesterday’s session at Eur1.84.

MaltaPost

plc, which was the week’s most traded equity,

traded flat at last week’s close of Eur0.90 as 109,926 shares were traded over

15 transactions. Grand Harbour Marina

plc shares also traded flat at Eur1.96 as 47,090 shares were dealt across

four deals, up from 5,000 shares traded last week. The equity was only active

during the closing two sessions of the week.

For the second week running, Plaza Centres plc closed unchanged at Eur1.685

as 30,000 shares were dealt over two deals. The equity was only active during

the mid-week session.

Following last week’s hefty loss of

nearly six per cent, International Hotel

Investments plc shares traded flat at Eur0.80 with turnover declining to Eur16,000

as 20,000 shares were traded over three transactions.

On the negative side, Santumas Shareholding plc shares closed

lower by 1.15 per cent on Monday over two deals of 5,000 shares, while two

deals of 10,000 shares in Medserv plc dropped its share price by

0.23 per cent to close the week at Eur4.27.

This article which was compiled by Atlas

JMFS Investment Services Limited, does not intend to give investment advice and

the contents therein should not be construed as such. Atlas JMFS is licensed to

conduct investment services by the MFSA and is a Member Firm of the Malta Stock

Exchange. 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 Atlas JMFS at 67, Level 3, South Street, Valletta,

or on Tel: 21224410, or email [email protected]