Positive rally on MSE halted


Trading Report for week ending November 12, 2010


rally on MSE halted

The Malta Stock Exchange Index closed the week marginally lower at

3,468.306 points, a fall of 0.08 per cent, having shed 1.569 per cent on Monday

followed by four consecutive positive sessions with the highest gain of 0.8% registered

on Tuesday. Trading activity this week decreased by almost half in all markets

as deals executed reduced from 700 to 382, for a total value of Eur6.29m.

In the equity market, turnover fell to a value of Eur906,501 across 188 trades,

with over 60 per cent of this activity in Bank

of Valletta plc shares. Twelve equities were active during this week of

which five closed in negative territory, three edged higher and four other equities

traded flat. In the Corporate Bond

market turnover reached a value of Eur588,073 over 79 transactions, while in

the Government Stock market, a

nominal of over 1.56m worth Eur1.70m was traded across 112 trades. The Treasury Bills market returned to

trading this week, having registered three deals of Eur3.09m.


of Valletta plc

(BOV) and FIMBank

plc were the only equities in the financial sector to register a gain this

week. BOV registered a rise of 1.67 per cent, or Eur0.06, closing at Eur3.66.

BOV shares registered a decline of 4.17 per cent on Monday as the shares went

ex-div ending the session at this week’s low of Eur3.45. The equity recovered

substantially in the consequent two sessions closing at Eur3.52 and Eur3.63,

lost some ground on Thursday and finally ending the week at Eur3.66 with

yesterday’s 1.1% gain.  For the second

week running, BOV shares dominated activity on the MSE as 168,148 shares

changed hands on 115 deals, for a total value of Eur593,958

This week’s other gaining financial

equity, FIMBank plc appreciated by almost 1.1 per cent, or $0.01, to close at

$0.94 as 12 deals of 62,500 shares were executed. A gain of 2.15 per cent  was registered on Wednesday when most trading

took place only to lose 1.05 per cent during the following session on a mere 500


After last week’s remarkable 10.8 per

cent gain, the share price of Lombard

Bank plc retreated by 0.72 per cent on Monday on a single deal of 1,500

shares, closing the week at Eur2.75, a loss of Eur0.02.

Similarly, HSBC Bank Malta plc (HSBC) shares returned to negative territory

with a loss of 0.66 per cent. Declines amounting to 2.25% were registered on

three trading sessions which were reduced by the 1.6% gains reported on Tuesday

and Thursday. Activity was spread across 26 deals, consisting of 40,361 shares with

the share price closing at Eur2.88.

The worst performing equity this week

was Malta International Airport plc,

as its share price dropped by Eur0.049 on a single trade of 5,000 shares to end

the week 2.97 per cent lower at Eur1.60.


plc shares also closed lower, having registered

a single trade of a mere 363 shares traded at Eur0.91 and losing a marginal

0.11% on the week.


Insurance plc, Simonds

Farsons Cisk plc (SFC), Plaza

Centres plc and Medserv plc all

closed the week unchanged at Eur1.00, Eur1.75, Eur1.70 and Eur4.27

respectively. SFC registered the highest number of trades, with 7,041 shares

changing hands across five deals, while Plaza saw the highest number of shares

being exchanged, as a total of 14,600 shares were dealt.


Hotel Investments plc share price slid by 1.28 per cent on

Monday closing at Eur0.77 and maintained this closing price throughout the following

sessions, as 86,466 shares were dealt across 10 trades.

Conversely, the share price of GO plc continued to gain ground this

week, closing at Eur1.885 and marking a 0.27 per cent gain on last week, as 17,180

shares changed hands on nine transactions.

During the week, the

Treasury of Malta announced that due

to a strong demand for its latest Malta Government Stock issue, the

subscription for its issue was closed shortly after it was over-subscribed by

members of the public. Since the issuance was over-subscribed, there was no

balance available to be allocated under the auction/bid system.

The Treasury received 4,953 applications/bids having a total value of Eur216,153,406

and will announce the allotment of the Eur100 million on

issue to members of the public on Monday, November 15, 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]