MSE

Trading Report for week ending April 15, 2011

RS2

Software plc shares soar by 51 per cent

Three positive trading days recorded

during the past week were outweighed by two negative sessions as the Malta Stock Exchange (MSE) closed the

week at 3,356.012 points. As a result, the local market Index lost nearly 2.4

per cent, the heaviest fall in the past seven weeks as the MSE recorded its

eleventh consecutive week of losses. Thursday’s session was the main

contributor to this decline during which International

Hotel Investments plc (IHI) shed almost 16 per cent. A total of ten

equities were active, seven of which lost ground, two gained and MIDI plc shares traded flat. On the

positive side RS2 Software plc shares

outperformed the market with a hefty 51 per cent increase in its share price

following the announcement of the company’s financial results for 2010.

Meanwhile trading value in the

equities market increased to over EUR730,000 up from EUR520,000 traded last

week. A total of 157 deals of 362,203 shares were executed with investors

unusually focusing their attention on RS2

Software plc shares. In the fixed-income market turnover reached over EUR9.5m

with almost EUR9.2m being traded in the Government

Stocks market. The 5.7% MGS 2012 was

the most liquid issue, while the 5% MGS

2021 was the top performer with a slight gain of 0.31 per cent while

running yields maintained their positive run. In the Corporate Bonds market activity was spread across 20 issues as a

value of EUR383,289 was dealt over 75 transactions.

RS2

Software plc ended the week in the limelight as the IT

specialist’s equity gained a hefty 51.43 per cent or EUR0.18 on 17 deals of

97,800 shares closing the week at EUR0.53. This gain followed last Tuesday’s

announcement of the company’s financial results for the year ending December

31, 2010. In fact, the Group registered a profit before tax of EUR1.61m, while the

Company’s revenue for the period increased by 27.4 per cent, from EUR5.89m in 2009 to EUR7.51m in 2010. The

Group’s earnings per share rose from EUR0.027 to EUR0.076. The Board of

Directors further resolved to recommend for the approval of the Annual General

Meeting the payment of a final net dividend of EUR0.032 per share,

amounting to EUR1.2m. This dividend, if approved, at the

Annual General Meeting, will be paid on Wednesday, June 15, 2011, to

shareholders who appear on the shareholders’ register as at Monday, May 2,

2011. The firm’s Annual General Meeting is scheduled to be held on June 14,

2011.

HSBC

Bank Malta plc shares also closed the week on a high

note notwithstanding the negative trend which surrounded the other financial

equities. The Bank’s equity posted a 1.02 per cent or EUR0.03 gain as it

finished the week at EUR2.96. The equity gained ground during the opening three

sessions of the week and closed unchanged on the remaining two sessions trading

at a low of EUR2.95 and a high of EUR2.96, this week’s closing price. The Bank

was the second most active in terms of volume as over 76,000 shares were traded

over 26 deals.

Conversely, Bank of Valletta plc edged minimally lower with a 0.21 per cent or EUR0.006

loss as 72,672 shares were dealt across 54 deals, worth nearly EUR211,000. The

equity closed the opening and final session of the week higher while it traded

lower in the remaining sessions to end the week at EUR2.895, hence down by

nearly 10 per cent since the beginning of the year.

Lombard

Bank plc shares followed the negative outlook which surrounded

the financial equities recording a 1.67 per cent or EUR0.05 decline. The equity

thus closed the week at EUR2.95 as over 60,000 shares changed hands over 15

transactions.

Meanwhile, Middlesea Insurance plc shares emerged as the worst performer out

of the financials active this week as the equity closed lower by a significant

5.88 per cent or EUR0.05 to end the week at EUR0.80. This decline was recorded

in the opening session of the week while the equity traded sideways thereafter.

A total of 15 transactions worth EUR12,336 were executed.

Likewise, IHI shares closed the week on the downside with an overwhelming drop

of 15.7 per cent or EUR0.13 to finish the week at EUR0.70. The equity lost

nearly 16 per cent on Thursday over one deal of 700 shares while it managed to

recoup slightly some of this loss yesterday closing the session minimally

higher. Throughout the week 6,500 shares were dealt over four deals.

On Tuesday Malta International

Airport plc announced the traffic results for

the month of March, which showed an increase of just over 16 per cent over the

previous month. Seat capacity was also at a record high with an increase of

18.6 per cent over the corresponding period last year. These figures include

the passenger movements linked to the evacuation from Libya. These

positive results did little to lift the equity from another week-on-week loss as

the equity’s share price closed down by a meagre 0.28 per cent to end the week

at EUR1.755.

GO

plc closed the week at EUR1.45 hence down by 2.7

per cent on the week, while MaltaPost

plc shares posted a minimal 0.1 per cent loss as the postal operator closed

the week at EUR1.089 as two transactions of 1,220 shares were 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]