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]