MSE

Trading Report for week ending November 5, 2010

Banking

equities surge in value

The Malta Stock Exchange Index continued on last week’s positive

sentiment, having closed the week at 3,471.142 points. On Monday the Index

registered a rise of 4.56 per cent, rising from 3,374 to 3,528 followed by a marginal

increase of 0.019 per cent on Tuesday and three consecutive days of declines. This

brought the week-on-week gain to 2.87 per cent and a year-to-date increase of

0.31 per cent. Trading activity this week rose from 501 trades to 700 trades,

for a total value amounting to Eur8.09m despite no activity in the Treasury Bills market.

Turnover in the equity market almost doubled this week with a total value of over Eur1.21m

over 266 deals, with over 65% traded in Bank

Of Valletta plc shares. Notwithstanding this rise, securities traded have

been declining over the past weeks. In fact, nine equities were active with six

gaining ground, two closing lower and one equity remaining unchanged. In the Government Stock market, value traded reached an amount of Eur6.20m, which was executed across

355 deals, compared to last week’s Eur5.24m on 266 transactions. In the Corporate Bond market the nominal amount

of 657,224 was dealt over 99 trades, for a value reaching Eur674,022.

It was a positive week for the banking

sector, as all banking equities traded closed the week in positive territory. The

best performer was Lombard Bank plc,

with a hefty appreciation of 10.8 per cent. This rise was mainly registered on

Monday when the bank closed the session 10 per cent higher. In total, 51,943

shares changed hands over 21 deals, closing the week at Eur2.77 thus reducing

the year-to-date loss to 7.36%.

Conversely, Loqus Holdings plc registered an astounding loss of 43.75 per cent

on Tuesday, declining from its previous closing price of Eur0.32 to Eur0.18, as

the equity saw 6,824 shares change hands on three deals.

The share price of Bank of Valletta plc (BOV) registered a gain of 7.46 per cent,

closing at Eur3.60, this week’s lowest trading price although the equity

reached a high of Eur4.00. On Monday, BOV’s share price closed at Eur3.70 from Eur3.35,

a rise of 10.45 per cent, following the positive annual results achieved by the

Bank of Valletta Group on Friday. The equity retreated marginally on Tuesday,

fell 1.32% on Wednesday and by 1.64% during yesterday’s session. Total trades

amounted to 210,392 shares with a value of Eur787,428 on 174 deals.

HSBC

Bank Malta plc (HSBC) continued to recoup from its

year-to-date loss, as this week its share price rose by 3.54 per cent. The

equity registered a volume of 65,444 shares across 35 transactions, as the

share price closed the week at Eur2.899, an increase of Eur0.099. HSBC’s

performance this week almost trailed the performance of the Index, having

gained 7.14 per cent on Monday, declining from Wednesday to Friday, with the

only difference being on Tuesday, having closed the session unchanged.

GO

plc shares registered a rise during yesterday’s

session, closing at Eur1.88, an increase of 0.53 per cent, having closed

unchanged on Monday, Tuesday and Thursday. A total of 22,440 shares were

executed across 16 deals.

Middlesea

Insurance plc was the only equity to close the week flat

at Eur1.00, as 10,000 shares changed hands over three trades.

On the other hand, International Hotel Investments plc

registered a decline of 2.5 per cent, or Eur0.02 on Monday, while remaining

unchanged on two other trading sessions, with 49,578 shares changing hands on

10 deals, to close the week at Eur0.78.

MaltaPost

plc shares recouped a marginal 0.11 per cent

from last week’s decline of 1.09 per cent, as it registered two deals of 4,137

shares, closing at Eur0.911.

The share price of Malta International Airport plc closed the week at Eur1.649,

edging 0.55 per cent higher yesterday, on two trades of 2,000 shares.

On Thursday, MIDI plc confirmed that the company had

received approval for the issue of ordinary shares in the Company of a nominal

value of Eur0.20 at an issue price of Eur0.45 each. MIDI bondholders as at October

29, 2010 will be given preference by receiving full allotment on the first

6,500 ordinary shares applied for.

Also on Thursday, the

Treasury of Malta announced the prices of the two new fungible issues. The MGS

3.75% 2015 is being offered at Eur103.50, while the MGS 5.25% 2030 is being

offered at Eur101.50. Applications will open on Monday, November 8, 2010 and

close on Wednesday, November 10, 2010.

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]