Index up for the ninth session
MSE
Trading Report for week ending November 19, 2010
Index
up for the ninth session
The Malta Stock Exchange Index upheld its positive momentum across all five
trading days this week, bringing its positive tally to nine consecutive
sessions. Nearly all active equities closed in positive territory, fuelled by the
recent upbeat enjoyed by the two major banks in reaction to the positive annual
results announced by Bank of Valletta
plc. As a result, the MSE Index gained 1.56 per cent on the week.
Notwithstanding the positive week on
the local exchange, turnover in the equity market declined slightly, with the
two major banks still taking the lion’s share of the total value traded. In
fact, a value of EUR859,095 was traded over 197
transactions dealt across 12 equities seven of which closed higher, four closed
flat while one equity ended the week in the red. Meanwhile, turnover in the Corporate Bond market increased to EUR643,878
as 24 bonds were traded. A negative week was recorded in the Government Stock market, as the
majority of the active issues closed in negative territory. Activity in this
market also declined heavily to just over EUR863,000, down from EUR1.7m traded
last week. In the Treasury Bills market
one deal of EUR2.4m was executed on Friday.
Middlesea
Insurance plc shares were the week’s top performers having
gained five per cent over seven deals of 11,291 shares. Throughout the week the
Insurance firm’s equity was active on three trading days during which the
equity’s price hovered between a low of EUR1 and a high of EUR1.05, this week’s
closing price. Year-to-date the equity is amongst the best performers with a 30
per cent gain.
HSBC
Bank Malta plc shares returned to positive territory
with a solid 3.47 per cent gain or EUR0.10 to end the week at EUR2.98. On the
week trading volume increased to nearly 50,000 shares, the bulk of which
changed hands on Monday. Trading opened at last week’s closing price of EUR2.88,
gaining ground throughout the week, and reaching its weekly high of EUR2.998 on
Thursday.
Similarly, Bank of Valletta plc shares closed the week on a positive note as
the Bank’s equity recorded a gain of just over one per cent, the equivalent of EUR0.04,
to end the week at EUR3.70. The equity was again the most liquid with over 124,500
shares being traded over 86 transactions.
On the negative side, Lombard Bank plc was the only equity to
close the week lower posting a hefty decline of 3.64 per cent or EUR0.10 on a
single deal of 400 shares to end the week at EUR2.65. Meanwhile, FIMBank plc closed flat at $0.94 as the
equity was the second most traded with 111,419 shares being traded across 13
deals.
Malta
International Airport plc shares came close to recovering last
week’s decline entirely with a three per cent gain to end the week at EUR1.648.
The equity started the week flat at last week’s closing price of EUR1.60 and only
managed to move higher during yesterday’s session when over 17,000 shares were
traded.
Likewise, MaltaPost plc shares closed the week on a positive note with a
weekly gain of 1.87 per cent. The equity was active on two trading days with
only two deals of 10,396 shares executed and closing the week at EUR0.927.
GO
plc shares maintained their positive momentum edging
slightly higher to end the week at EUR1.90. The equity recorded gradual gains
during the first four trading days, which totalled 0.8 per cent, while it
closed flat on Friday. Almost 30,000 shares were active over 22 transactions.
The share price of Plaza Centres plc gained 1.18 per cent
on Monday to close at EUR1.72 while Loqus
Holdings plc traded unchanged at EUR0.18. Similarly International Hotel Investments plc shares traded flat at EUR0.77
following last week’s decline of 1.28 per cent. A total of 70,000 shares were
traded across six transactions all of which were executed at this week’s
closing price. Simonds Farsons Cisk plc
was another non-mover ending the week at EUR1.75 on four deals of 1,723 shares.
In the fixed-income markets investors
shifted their attention on Corporate
Bonds as turnover increased to EUR643,878 with 24 bonds being active. The
most liquid issue for the week under review was the 6.25% Mediterranean Bank plc 2015 which traded flat at EUR100.25 as
over 88,100 nominal was executed across six transactions.
Meanwhile the best performers were the
6.2%-6.8% International Hotel Investments 2013 and the 7% MIDI plc 2016-2018
denominated in Euro as both gaining 1.98 per cent.
Conversely there were three bonds on
the negative side with the heaviest faller being the 7% MIDI plc 2016-2018
denominated in Sterling, which lost over two per cent to close the week at
£105.
The Government Bonds market witnessed a negative trend as all of the 16
issues active this week closed lower. Amongst the worst performers were some of
the long-dated issues with the 5.1% MGS 2022 heading the list with a decline of
just over two per cent to close the week at EUR107.47.
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]