MSE

Trading Report for week ending January 28, 2011

Four

positive sessions push Index 1% higher

The Malta Stock Exchange Index (MSE)

returned to positive territory this week following four positive trading

sessions and despite a slight drop yesterday as three financial equities

registered losses. Positive sentiment returned as the majority of the traded equities

gained significant ground with Lombard

Bank plc shares heading the pack, and Malta

International Airport plc (MIA) shares again amongst the top performing

equities.

Following a five day positive run, the

MSE Index lost 0.282 per cent on Friday to end the week at 3,876.391 points, a

gain of just over 1 per cent on the week. More than Eur1.4m was traded in the equity

market as 281 deals of 736,256 shares were executed. More than one third of

total trading volume was executed in International

Hotel Investments plc (IHI) shares which

saw trading activity increasing to

250,815 shares, up from 13,554 shares traded last week.

On Friday January 28, 2011 The Treasury

announced the issuance of Eur120m in Malta Government Bonds, subject to an

over-allotment option of Eur80m. The

Treasury will be offering to the

general public two issues: a short dated bond maturing in 2017 carrying a

coupon rate of 4.25 per cent and a fungible issue of the existing 5.25 per cent

maturing in 2030. Prices for each of the two stocks will be announced by the

Treasury on Wednesday, February 9, 2011 while applications will be accepted

thereafter. Meanwhile, throughout the week over Eur1m was traded in the Government Stocks market across 82

deals of 1.02m nominal, while Eur1.4m was dealt in the Corporate Bonds market.

Notwithstanding the negative start to

the week Lombard Bank plc shares

finished the week as the best performers having posted a 7.64 per cent or Eur0.21

as 15 deals of nearly 30,000 shares were recorded. On Wednesday the Bank posted

a 5.45 per cent loss as it traded at a weekly low of Eur2.60 while it closed

higher in the following two sessions as it recorded gains of 9.62 per cent and

almost 4 per cent on Thursday and Friday respectively. In fact on Friday the

equity closed the session at Eur2.96, up by 5.7 per cent since the beginning of

the year.

Simonds

Farsons Cisk plc followed with a similar gain of 7.14

per cent or Eur0.12 as three transactions of 3,811 shares executed during the

week’s closing session appreciated the price to Eur1.80.

The upbeat in the share price

experienced by Malta International

Airport plc (MIA) since the announcement of positive passenger traffic results

for 2010 last week, was upheld throughout the week under review as the airport

operator gained 4.57 per cent or Eur0.08 to finish the week at Eur1.83. Just

over 106,000 shares were dealt across 30 transactions as the equity gained

during the opening three sessions while it closed unchanged on Thursday. On

Tuesday MIA’s CEO Mr Julian Jaeger announced that the company is forecasting

that the passenger numbers for 2011 will be the same as those in 2010, which

reached 3.29m passengers, a record number for the company.

HSBC

Bank Malta plc share price also closed in positive

territory as the Bank registered a 2.79 per cent gain. A total of 112,644

shares changed hands over 65 deals as the equity’s price hovered between a

weekly low of Eur3.42 and a high of Eur3.54, while it closed yesterday’s

session at Eur3.50. The equity’s position since the beginning of the year

stands at 7.53 per cent in positive territory.

Conversely, Bank of Valletta plc shares headed the list of losers with a 1.12

per cent decline. The equity only managed to move higher on Monday while it

traded lower in the remaining sessions to close the week at Eur3.10. Turnover

reached Eur421,320, the highest for the week, as 134,753 shares were dealt

across 103 deals.

IHI

shares also closed in the red as the equity shed 1.02 per

cent during the week’s opening session while it closed flat thereafter to close

the week at Eur0.97. The equity was the most liquid with over 250,800 shares

being traded across 25 deals. Similarly, GO

plc closed in negative territory as on Tuesday the equity declined by 0.57

per cent while it traded unchanged during the closing two sessions to end the

week at Eur1.929.

On the other hand, the share price of FIMBank plc closed higher for the

second consecutive week with a gain of 3.72 per cent to close the week at

$0.975. However, this gain was only backed by 660 shares dealt across two

transactions.

Middlesea

Insurance plc shares edged minimally higher with a 0.8 per

cent gain to finish at Eur1.01 as nine deals of 10,345 shares were executed.

Similarly, MaltaPost plc closed the

week at an all time high of Eur1.01, hence 1 per cent higher on the week as

37,752 shares were traded over 11 transactions.

The only non-moving equity this week

was Island Hotels Group Holdings plc

as two deals of 3,000 shares ended the week at Eur0.998.

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]