MSE

Trading Report for week ending March 25, 2011

Turnover

on the MSE increases to Eur7.6m

The Malta Stock Exchange Index (MSE)

remained in negative territory as it closed lower for the eight week in a

row. In fact, the local Index shed 0.48 per cent on the week as it closed

yesterday’s session at 3,478.545 points. On the week, total turnover jumped to Eur7.6m

up from Eur2.1m traded last week. The Treasury

Bill market was the main contributor to this surge as over Eur3.3m was

traded over four transactions. The Government

Stocks market followed with an increase of Eur2.3m to Eur3.1m, while the

only decline was recorded in Corporate

Bonds. Yields in the fixed-income market were higher again this week as the

majority of the traded issues closed lower.  

In the equity market 140 deals of

377,139 shares worth Eur816,450 were recorded with Lombard Bank plc being the most liquid equity also ending the week amongst

the top performers. Throughout the week 10 equities were active as four gained,

another four closed lower and two closed flat. Turnover increased to Eur816,450,

up from nearly Eur540,000 traded last week, as 140 transactions were

registered. All financial equities were active this week as two gained, three

closed lower and FIMBank plc shares

traded flat at $0.90 as a total of 106,507 shares changed hands across nine

deals.

Amongst the Corporate news this week, Medserv plc announced that the Board of

Directors has approved the audited financial statements for the year ended

December 31, 2010. The company registered a Profit before tax of Eur32,287, down

from the previous financial year’s profit before tax of Eur3.18m. The Board of

Directors did not recommend the payment of a dividend.

On Thursday, International Hotel Investments plc announced that the Board of

Directors will be considering the Financial Statements for the year ended

December 31, 2010 on March 30, 2011. No trades were recorded in the equity

following last week’s hefty 8.5 per cent decline.

Meanwhile, Malta International Airport plc shares headed the list of gainers

as the equity posted a 1.73 per cent gain to finish the week at Eur1.76. The

equity was active on three trading days as almost 13,000 shares were traded across

eight transactions. This appreciation in price followed last week’s announcement

that revenue of the Group for the year increased by 10.5 per cent to Eur51.34m,

while profit before tax stood at Eur16.97m, an increase of 20.1 per cent.

Global

Capital plc closed the week on the downside following a

sharp decline of over 33 per cent. The equity’s price tumbled on Thursday to Eur0.998

over six deals of 2,980 shares while it edged minimally higher yesterday to

finish the week at Eur1. A mere 3,700 shares dealt across seven deals caused

this sharp decline. The company announced that the board will be meeting on 20

April, 2011 to approve their financial results.

In the financial sector, Lombard Bank plc emerged as the top

performer as the Bank closed the week 1.66 per cent higher with a Eur0.05 gain.

The equity was also the most traded

as 160,679 shares were dealt over 43 transactions. Throughout the week the Bank

traded at a weekly low of Eur3.01 and reached a high of Eur3.075 on Thursday,

the last day of entitlement to the net dividend of Eur0.07475, while ending the

week’s closing session at Eur3.06.

HSBC

Bank Malta plc (HSBC) shares followed with a 1.07 per cent

or Eur0.031 gain as the equity closed the week at Eur2.92. HSBC kicked off the

week on a negative note, which it swiftly recouped on Tuesday. The equity

closed unchanged the following two trading days while it closed higher on

Friday. Over 24,000 shares were traded across 19 transactions.

Conversely, Bank of Valletta plc shares closed the week southwards with a 0.85

per cent or Eur0.025 decline. The equity was active across four trading days, ending

two sessions higher while closing flat on Tuesday. The loss recorded mid-week

was enough to lead the equity to another week-on-week decline. Thirty-two deals

of nearly 43,200 shares, worth Eur126,305 were executed.

Middlesea

Insurance plc closed the week with a 4 per cent drop or a

decline of Eur0.04. In fact, seven deals of 4,500 shares executed during the

week’s final session pushed the equity’s price down to Eur0.96, this despite

the positive results announced last week.

GO

plc shares were also on the list of fallers as

the equity closed the week at Eur1.55, down by a hefty 6.06 per cent on the

week. A total of 15,200 shares were dealt across nine transactions.

Meanwhile, MaltaPost plc edged minimally higher with a 0.09 per cent gain. The

postal operator was only active during yesterday’s session as three deals of

3,626 shares pushed the equity’s price to Eur1.101.

Island

Hotels Group Holdings plc managed to close unchanged at Eur0.997

after having traded at a weekly low of Eur0.97. Trading volume was the lowest

for the week as 2,500 shares changed hands across three deals. Since the

beginning of the year the equity climbed just under 5 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]