MSE

Trading Report for week ending February 11, 2011

BOV,

HSBC and GO push Index lower

The Malta Stock Exchange Index (MSE)

resumed the negative momentum experienced

lately with another week-on-week loss. This week’s decline amounted to 0.23 per

cent as the Index closed yesterday’s session at 3,856.828 points. Three of the

larger equities by capitalisation closed the week in the red headed by Bank of Valletta plc (BOV) whilst Malta International Airport plc (MIA) shares

lead the list of gainers with a 5.7 per cent gain on the week.

Notwithstanding the short trading

week, due to a public holiday on Thursday, turnover in the equity market

increased significantly to over Eur3m, up from Eur1.3m traded last week. BOV shares took the lion’s share as

nearly Eur1.3m was traded in the banking equity, while International Hotel Investments plc (IHI) followed. Out of the 11

active equities, three closed in the red, four gained and another four closed

unchanged.

In the fixed-income markets running

yields increased further as the majority of the traded issues closed in

negative territory. In the Government

Stocks market activity soared to

Eur5.6m as 21 issues were traded across 152 transactions. On Wednesday, the

Treasury issued the prices for the new Government Bonds with the 4.25 per cent issue

maturing in 2017 priced at Eur101.25 while the long-dated issue carrying a

coupon of 5.25 per cent maturing in 2030 is priced at Eur101.50. In the Corporate Bonds market 80 transactions

of 633,219 nominal were recorded for a total value of Eur611,240. Two trades of

Eur0.37m were executed in the Treasury

Bill market

MIA

share price managed to erase last week’s decline topping

the week’s list of gainers with a 5.71 per cent or Eur0.10 gain. The equity

closed three sessions in positive territory while it ended the mid-week session

flat. A total of 22,570 shares were traded throughout the week, the bulk of

which changed hands on Friday when the equity moved over 2 per cent higher to end

the week at Eur1.85.

Similarly, IHI shares closed in positive territory with a 2.11 per cent or Eur0.02

gain. The hotels’ operator was the week’s most traded equity as over 981,500

shares changed hands over three trading days, with Monday’s session witnessing

most trading. The equity’s price fluctuated between a weekly low of Eur0.95 and

a high of Eur0.98, while it closed the last session of the week at Eur0.97.

On the negative side, BOV shares headed the list of losers as

the Bank posted a 2.6 per cent drop, which worsened the equity’s year-to-date

performance, which now stands just over 5 per cent in the red. The equity’s

price plunged on Monday, while it barely changed during the remaining three

trading days to close the week at Eur3.049. Trading volume increased to 423,240

shares, up from 106,370 shares traded last week.

Similarly, HSBC Bank Malta plc share price ended the week in negative

territory closing yesterday’s session at Eur3.47, hence down by 0.86 per cent

or Eur0.03 on the week. A total of 171,381 shares were traded as the Bank

kicked off the week flat, gained on Tuesday while it closed in negative

territory in the following two trading days.

Meanwhile, Lombard Bank plc traded flat at Eur3 as three deals of 3,350 shares

were executed. Likewise FIMBank plc which

was active only during Monday’s session, traded unchanged at $0.95 as 75,000

shares were dealt across two transactions.

Middlesea

Insurance plc (MSI) was the only financial equity to close

higher as the insurance firm gained nearly 2 per cent or Eur0.02. The equity started

the week with a strong 5 per cent gain trading at a weekly high of Eur1.07,

however the gain was short-lived as a drop of 2.8% was registered on Wednesday

to close at Eur1.04, only to close flat on Friday.

GO

plc closed the week just over 1 per cent lower as

the equity closed yesterday’s trading day at Eur1.899. Activity was spread more

or less equally over three trading days as 9,371 shares changed hands over 11

transactions.

Meanwhile Simonds Farsons Cisk plc failed to record a change in price as the

equity closed in positive territory on Tuesday and Wednesday, while it returned

to the Eur1.80 level during the week’s closing session. Across the week 3,155

shares were dealt across three transactions.

MaltaPost

plc shares were again amongst the top performing

equities as the postal operator gained almost 2 per cent to end the week at Eur1.07.

This gain was posted during the final trading day after ending the previous two

trading days unchanged at Eur1.05. A total of 55,464 shares were traded across

seven deals.

MIDI

plc share price remained intact at Eur0.45 after

having moved slightly to Eur0.451 intra-week. On the week, trading volume

declined by more than half that traded last week as 110,000 shares were

negotiated over four transactions.

Meanwhile on Monday Plaza Centres plc announced that the Board of Directors is scheduled to

meet on March 3, 2011 to consider and approve the Company’s Audited Financial

statements for the year ended December 31, 2010 and to consider the payment of

a final dividend.

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]