MSE down another 1% as negative outlook persists
MSE
Trading Report for week ending April 21, 2011
MSE
down another 1% as negative outlook persists
This week, the Malta Stock Exchange (MSE) index registered
four consecutive negative trading sessions, to close the week at 3,322.666
points, which resulted in a 0.99 per cent weekly decline. The MSE index is now
at a year-to-date loss of 12.1 per cent, as the index registered its twelfth
consecutive negative run. The best
performer for the week was Middlesea
Insurance plc, gaining five per cent, while Island Hotels Group Holdings plc shares contracted sharply by 9.73
per cent, as 1,001 shares were executed on two deals, closing at Eur 0.90.
This week’s trading value reached a
total of Eur6.25m over 313 deals. In the equities
market, turnover decreased to Eur423,915 across 136 transactions, compared
to last week’s Eur730,000. Similarly, trading value in the Corporate Bonds market declined from Eur383,289 to Eur281,353 over
38 deals. The 4.8% Bank of Valletta
plc Sub 2020 was the most active bond with a value of Eur103,019 traded.
Furthermore, in the Government Stocks
market, a total value of Eur5.55m was recorded, down from last week’s Eur9.2m.
The 5.25% MGS 2030 (I) was the most
liquid issue, as its trading value captured just over 50 per cent of the total
trading value within this market.
Within the financial sector, Middlesea Insurance plc was the only
gainer for the week, having appreciated by Eur0.04, to close at Eur0.84. The
equity registered a 1.25 per cent and 3.83 per cent rise on Monday and Tuesday
respectively, while having retreated by a minimal 0.12 per cent on Wednesday,
as 3,606 shares changed hands across four deals.
FIMBank
plc shares were the heaviest losers in this
sector, recording a loss of 2.2 per cent on Monday, while trading unchanged on the
following two sessions. Five transactions of 22,200 shares were registered at a
share price of $0.88.
Bank
of Valletta plc (BOV) was the most active equity registering
a total of 68,828 shares being exchanged across 58 trades. BOV’s share price
experienced low volatility, trading at a weekly high of Eur2.90 and at a low of
Eur2.88, with the latter being the closing share price for the week, and
consequently edging lower by 0.52 per cent. The Board of Directors of
the Bank is scheduled to meet on Friday, April 29, 2011 to consider and approve
the Group’s and the Bank’s interim financial statements for the six months
ended March 31, 2011 and to consider the payment of an interim dividend.
Following last week’s positive
performance, HSBC Bank Malta plc (HSBC) shares
recorded a 1.69 per cent decline, with a total of 35,903 shares being traded
over 24 deals. Activity was spread across four trading sessions, of which two
posted losses and two traded sideways, closing at a share price of Eur2.91.
The share price of Malta International Airport plc (MIA) is
on its third negative weekly performance, having lost a further 3.13 per cent on the week. The airport operator
experienced declines on Monday and Wednesday, while trading flat on the
following session. A total of 4,700 shares were traded over five transactions
with the share price ending the week at Eur1.70, and drifting lower by Eur0.055.
Simonds
Farsons Cisk plc (SFC) had a good week as its share price
increased by 1.19 per cent, to close at Eur1.70, with 4,538
shares changing hands across seven deals. On Wednesday the Board of Directors
of SFC approved the financial
statements for the year ended January 31, 2011 which will be presented for
approval at the company’s AGM on June 23, 2011. The Group recorded an increase
in profit before tax of 30 per cent while turnover reached Eur67.3m, up by 3.4
per cent over the previous year. The Board of Directors has resolved to
recommend for the approval of the AGM the distribution of a final net dividend
of Eur0.0533 per ordinary share which will be paid by not later than June 24,
2011 to all shareholders appearing on the register of members as at May 24,
2011.
From the IT sector, Crimsonwing plc fell by 2.64 per cent
on Wednesday closing at Eur0.369 on a single trade of 10,000 shares. In
contrast, Loqus Holdings plc traded
flat at Eur0.161 on a single deal of a mere 100 shares. In addition, RS2 Software plc traded flat at Eur0.53,
as 10,865 shares worth Eur5,758 changed hands over three deals.
GO
plc shares continued its stream of negative
performances ending this week down by 1.45 per cent, as a total of 51,960
shares were traded over 24 transactions. This week the share price closed at Eur1.429.
Similarly, MIDI plc registered a
2.22 per cent loss on the week as the share price fell to Eur0.44, over a
single trade of 5,000 shares.
Global Capital plc ended the week flat having registered a single
deal of 500 shares to close the week at Eur1.00. On Thursday, the Board of
Directors approved the Annual Financial Report for the financial year ended
December 31, 2010. The Group registered a loss before tax of Eur7.7m,
compared to the previous financial year loss before tax of Eur800,648.
We wish all
our readers a Happy Easter.
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]