MSE

Trading Report for week ending February 4, 2011

MSE

Index moderately lower

The Malta Stock Exchange Index (MSE)

closed the first week of the

month down by a minimal 0.28 per cent as the index fell in the first four days

of trading, while regaining some ground yesterday as all equities traded gained

or remained unchanged. Out of the 21 listed equities, 15 were active, six of

which gained while substantial losses were posted by the majority of the five

equities which ended the week down. Following a string of positive performances

in the past weeks Malta International

Airport plc (MIA) shares were this week’s worst performers while Plaza Centres plc shares outperformed

the other active equities following a hefty gain during Friday’s session.

Turnover in the equity market declined

to Eur1.3m, the majority of which took place in HSBC Bank Malta plc (HSBC) shares. Trading volume also declined

slightly as 723,334 shares changed hands over 224 transactions. The local Index

kicked off the week with a 0.27 per cent loss and the negative sentiment persisted

until Thursday’s session while ending Friday’s session with a 0.15 per cent gain.

In the fixed-income markets running

yields were higher on the week as the majority of the traded issues closed in

negative territory. In the Government

Stocks market over Eur2.9m was traded as 140 deals of 2.8m nominal were

executed. Bond investors focused their attention on the 5.25% MGS 2030 as over Eur1.5m was traded across 51 deals. Early

this week the Treasury announced that trading in this stock will be suspended

on Friday, February 11, 2011 due to the new tranche to be issued in the coming

weeks. In the Corporate Bonds market 111

deals of 788,384 nominal were executed for a total value of Eur797,103.

Following last week’s hefty gain, this

week Lombard Bank plc shares emerged

as the best performers within the financial sector. The Bank’s equity posted a

1.35 per cent or Eur0.04 gain to end the week at Eur3. On Tuesday the equity

closed flat while it gained ground during the two closing sessions of the week

as nearly 49,000 shares were dealt across 12 deals. The Bank’s position since

the beginning of the year reads 7.14 per cent in positive territory.

Meanwhile, Bank of Valletta plc (BOV) managed to recover some of its

year-to-date negative performance as the equity moved higher by almost one per

cent. In fact, BOV shares closed the week at Eur3.13 after having traded at a

weekly low of Eur3.10. The Bank’s equity was the third most liquid for the week

as 106,370 shares were dealt over 102 transactions.

MIDI

plc, which was active for first time since its

admittance to local stock exchange, was

the most traded equity for the week as 225,000 shares changed hands over three

deals. The equity was only active during the week’s mid-week session as it

traded unchanged at Eur0.45.

MaltaPost

plc shares were amongst the top performers,

having gained just under 4 per cent or Eur0.04. A total of 71,439 shares were

traded over 15 transactions as the equity’s price fluctuated between a weekly

low of Eur1 and a high of Eur1.05, the week’s closing price. On Monday the

company announced that the Annual General Meeting of the company approved all

the resolutions brought forward on the Agenda. Amongst the resolutions was the

payment of a net dividend of Eur0.04 which shareholders can either receive in

cash or by the issue of new shares.

Notwithstanding the increase in demand

for HSBC Bank Malta plc shares, this

failed to record a change in price as it closed the week at Eur3.50. Actually,

the equity closed all five trading days flat while it traded at a weekly low of

Eur3.48 and a high of Eur3.52. On Wednesday, it was announced that the Board of

Directors is scheduled to meet on Friday, February 18, 2011 to consider the

Group’s and the Bank’s Final Audited Accounts for the year ended December 31,

2010 and to consider the declaration of a final dividend.

Meanwhile, Middlesea Insurance edged minimally higher with a 1 per cent gain

as one deal of a mere 202 shares elevated the price to Eur1.02. Conversely FIMBank plc shares lost 2.56 per cent

to end the week at $0.95 as five deals of 40,704 shares were executed.

Malta

International Airport plc shares failed to keep up to the upbeat

enjoyed in the past few weeks as the airport operator shed 4.37 per cent or Eur0.08

to close the week at Eur1.75. Similarly, International

Hotel Investments plc shares lost over 2 per cent in the week’s opening

session while it closed flat in the final two sessions.

In the IT sector Loqus Holdings plc gained 7.33 per cent as the equity closed the

week at Eur0.161 on a single trade of 400 shares. Another deal of 400 shares in

Crimsonwing plc left the equity’s

price intact at Eur0.38. Yesterday the IT specialist reported that year-to-date

revenues to end of the third quarter grew by 25 per cent.

One deal of 3,000 shares in Plaza Centres plc appreciated the price

by a staggering 11.33 per cent or Eur0.17 to close the week at Eur1.67 while GO plc     edged minimally lower with a 0.47 per cent

decline to close at Eur1.92. Likewise, Medserv

plc closed at Eur4.20, down by 1.18 per cent on the week, while Simonds Farsons Cisk plc traded flat Eur1.80.

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]