MSE

Trading Report for week ending April 8, 2011

MSE

Index maintains negative stance

The Malta Stock Exchange (MSE) closed the week in the red after

registering losses during four trading days. On Monday, the equities Index

reported a 0.13 per cent gain which it swiftly erased in the following trading

session and maintaining a negative outlook for the rest of the week. None of

the active equities gained as seven closed in negative territory while another

two failed to record a change in price. Middlesea

Insurance plc and Plaza Centres plc were

the week’s worst performers as both equities slipped by 5.56 per cent. As at

close of trading yesterday the MSE Index stood at 3,437.375 points hence down

by 0.77 per cent on the week.

Trading volume in the equities market increased

to just over 208,000 shares up from 168,501 shares traded last week. The two

major banks were the most liquid while GO

plc shares followed. A total of 129 deals worth almost EUR520,000 were

recorded. Meanwhile, in the Government

Stocks market turnover surged to nearly EUR41m, up from EUR1.4m traded last

week. Activity was spread over 17 issues with the 7.8 per cent MGS 2018 taking

the lion’s share with EUR34m traded in this issue. Activity in the Corporate Bonds market increased with a

modest pace as EUR406,967 was dealt over 78 deals. Yields across the

fixed-income market closed higher on the week as the majority of the traded

stocks and bonds recorded price declines. These losses were partly due to the

European Central Bank’s recent increase in the rate of interest by 25 basis

points, to 1.25 per cent.

Middlesea

Insurance plc shares shed 5.56 per cent or EUR0.05 as three

deals of 1,000 shares were recorded. The insurance firm was active during the

week’s opening and closing sessions as it traded flat on Monday but lost EUR0.05

yesterday over two deals of just under 700 shares. The equity’s position since

the beginning of the year stands at 16 per cent in the red.

Plaza

Centres plc shares also lost a hefty 5.56 per cent or EUR0.10

throughout the week under review. The equity was only active on Wednesday

during which one deal of 1,000 shares was executed to end the week at EUR1.70.

In the financial sector, two equities

closed lower while HSBC Bank Malta plc

(HSBC) traded sideways. In fact the Bank’s share price closed the week at EUR2.93

as almost 69,000 shares were dealt over 28 transactions. The equity failed to keep up to the upbeat

enjoyed in the opening session of the week when it gained 0.68 per cent or EUR0.02,

as it traded flat in the following two sessions while it succumbed to selling

pressure on Thursday as it shed all the gains posted on Monday.

Conversely, Bank of Valletta plc closed the week on the downside with a 1.66

per cent or EUR0.049 loss. The bank closed all four trading sessions during

which it was active lower to finish the week at EUR2.901 after having traded at

a weekly high of EUR2.96. BOV shares were the most active this week as nearly

76,000 shares, worth EUR222,386 were traded over 59 deals. This week’s decline

worsens further the Bank’s year-to-date position which now stands at 9.8 per

cent.

Simonds

Farsons Cisk plc shares were also on the downside this

week following losses during the two trading days on which the equity was

active. On the week, the equity shed 5.08 per cent or EUR0.09 over three deals

of 1,042 shares. Yesterday, the Company announced that the Board of Directors

is scheduled to meet on April 20, 2011 to consider and approve the Financial

Results for the year ended January, 31 2011 and to consider the declaration of

a final dividend to be recommended to the Annual General Meeting.

In the IT sector, Loqus Holdings plc shares traded unchanged on Thursday as one deal

of 500 shares left the equity’s price intact at EUR0.161.

GO

plc shares closed the week at EUR1.49, hence down

by 1 per cent on the week. The equity kicked off the week on the downside while

it recouped some of these losses on Wednesday and closed unchanged thereafter.

The equity was the third most liquid as over 52,000 shares changed hands across

28 transactions. Since the beginning of the year the telecoms company returned

a negative 23 per cent.

Malta

International Airport plc (MIA) shares posted a

0.56 per cent or EUR0.01 drop recorded during Tuesday’s session. A total of

6,230 shares spread over three trading days were traded over five deals as the

equity’s price hovered between a weekly low of EUR1.759 and a high of EUR1.77,

while it closed the week at EUR1.76.

MaltaPost

plc shares followed the negative trend as the

equity recorded a one per cent decline over the previous week to close at EUR1.09.

Turnover in the equity was on the low side as only one deal of 1,000 shares was

executed.

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]