MSE

Trading Report for week ending December 10, 2010

Feel

good factor emerges on the MSE

The Malta Stock Exchange Index had an all-positive week, as it gained

just below one per cent, to surpass the 3,500 level, precisely at 3,504.846

points. The Index halted its two weekly consecutive losses, as gains this week

ranged between 0.182 per cent and 0.267 per cent. During this four day week, 10

equities were traded, as half of these closed in positive territory, three

closed lower and two other equities registered no price movements. Turnover in

the equity market declined during

the week, as 155 deals consisting of 304,747 shares, for a value reaching EUR661,792

were executed, with Bank of Valletta plc

shares again dominating the market.

In the Government Stock market, turnover amounted to EUR1.26m across 65

deals, with approximately 36 per cent traded in the 5.25% MGS 2030 (I) FI issues, as trading in this market saw a decline.

Likewise, the Corporate Bonds market also registered a decline in turnover, with

EUR1.06m being traded over 106 trades. Meanwhile, two deals of EUR4.47m were

executed in the Treasury Bill market.

GlobalCapital

plc shares

continued to impress this week, as an overwhelming 19.05 per cent gain was

registered yesterday, with a closing share price for the week of EUR1.50. The equity’s

year-to-date performance was revamped over the past three weeks as it

previously stood at a loss of 26.15 per cent, while after two consecutive weekly

gains, the equity has a year-to-date positive performance of approximately 11.1

per cent, thus one of the healthiest year-to-date positions. However, despite

this rise, only 4,800 shares changed hands over nine deals this week.

Bank

of Valletta plc continued last week’s upward move, as

this week it appreciated by 1.89 per cent to close at EUR3.77, with 99,066 shares

changing hands across 80 deals. A low of EUR3.699 was registered, while this

week’s high, was again equivalent to the week’s closing share price of EUR3.77,

as the equity out performed the MSE Index’s, as the year to date gains reached

22 per cent.

On the negative side, Plaza Centres plc shares were the

week’s worst performing equity closing at EUR1.65, a drop of EUR0.07 or 4.07

per cent. This decline was backed by four deals of 10,000 shares.

Conversely, HSBC Bank Malta plc (HSBC) shares rebounded after two week-on-week

losses. Activity in this equity amounted

to 21,631 shares changing hands on 17 deals, compared to last week’s figure of approximately

76,000 shares. The equity’s share

price closed the week at EUR2.93, almost 1.4 per cent, or EUR0.04 higher.

FIMBank

plc was the only banking equity to edge lower

this week. In fact, its share price closed at $0.94, a decrease of $0.01 or

1.05 per cent. Shares traded amounted to 51,000, which were traded across three

deals. This week’s decline was mainly due to a drop of 3.05 per cent on Tuesday,

although the equity recouped some of this loss yesterday, with a rise of 2.06

per cent.

MaltaPost

plc closed the week flat at EUR0.93 on Monday,

as 3,900 shares changed hands over two trades. Similarly, Lombard Bank plc closed the week unchanged for the second week

running at EUR2.57, having registered eight deals of 7,300 shares. Notwithstanding

a rise of 1.17 per cent registered on Tuesday which was however erased by yesterday’s

decline.

International

Hotel Investments plc continued to lose ground this week,

having registered a loss of 0.66 per cent on Monday, to close the week at EUR0.75,

as 40,000 shares were swapped on three trades.

On the contrary, gains of 0.47 per cent

and 0.05 per cent meant a total gain of 0.52 per cent for GO plc shares, and thus closing at EUR1.92, as the equity is now on

a two-week positive streak. Shares traded amounted to 31,000 shares over 15

deals. After almost eight and a half months, Forgendo Limited, the joint

venture company between GO plc and Emirates International Telecommunications

(Malta) Limited, has acquired a further 1,299,439 shares in Forthnet S.A.

issued share capital. Forgendo’s shareholding in Forthnet now stands at 40.71

per cent.

Malta

International Airport plc (MIA) was another gainer out

of this week’s positive performers, as it closed the week at EUR1.65, a

marginal rise of EUR0.005 or 0.3 per cent. Volume traded this week totalled

36,050 shares across 14 transactions. On Tuesday, MIA published its Traffic

Results for November 2010. Passenger movements rose to 202,718, the highest

number ever registered in November. When compared to the same month last year,

the increase in passenger movements resulted in a rise of 12.5 per cent.

Similarly, aircraft movements grew by 11.7 per cent.

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]