MSE

Trading Report for week ending May 20, 2011

IHI

shares up by a hefty 14.3 per cent

The Malta Stock Exchange (MSE) Index extended

its week-on-week gain as it closed higher for the second week in succession. In

fact the local Index closed the week up by 2.41 per cent with the index

reaching the 3,397 level after having surpassed the 3,400 mark on Thursday. International Hotel Investments plc (IHI) was

the main contributors to this week’s gain, while Bank of Valletta plc (BOV) shares disappointed investors as the

Bank’s share price failed to live up to last week’s upbeat. Notwithstanding the

positive sentiment surrounding the local equity market, investors were

reluctant to trade as turnover in this sector declined rapidly to Eur362,626.

In the local bond markets turnover was

also on the low side as under Eur2m were traded. The Government Stocks market was

once again the most liquid as Eur1.6m was traded across 4 deals. For the

second week running the 5.7 per cent MGS

2012 was the most liquid with over Eur1m being traded across five deals. Yields

on the majority of the listed Government Stocks closed the week higher. In the Corporate Bonds market activity was

spread across 21 issues. The 6.75 per

cent Corinthia Finance 2012 was the top performer with a 6.4 per cent gain

while the 5.6 per cent Global Capital

2014 — 2016 lost just over 7 per cent. Meanwhile the 4.8 per cent BOV 2020 was the most liquid issue as 81,500 nominal

changed hands over 17 transactions.

In the equity market IHI posted a staggering 14.3 per cent

or Eur0.10 as the equity managed to reach the €0.70 level to close the week at

Eur0.80. In fact following several sessions during which the hotels operator

closed unchanged, on Thursday the equity ended the day at Eur0.80 and traded

flat thereafter. This gain followed an interview which appeared on The Times

with the group’s chairman Mr Alfred Pisani during which he outlined that the

Corinthia Group could well launch a second listing by the end of this year or

beginning of next year to raise capital for the purchase of property in top

cities like Rome and Paris. This week’s gain helped the equity to

ease some of the year-to-date loss which now stands at 15.3 per cent.

GO

plc shares held up to their positive momentum

following four days of gains, while it edged minimally lower on Friday to end

the week at Eur1.38. Throughout the week the telecoms company returned a 2.22

per cent gain as nearly 35,000 shares changed ownership over 19 transactions.

In the banking sector BOV shares were the only fallers as the

Bank posted a 1.06 per cent decline or Eur0.03 to end the week at Eur2.79 after

having traded at a weekly high of Eur2.83. This week the Bank was the second

most active as almost 58,000 shares were dealt across 53 deals.

Meanwhile, HSBC Bank Malta plc closed the week in the green with a 0.7 per

cent or Eur0.02 gain as the equity ended the final trading session at Eur2.98.

Activity in HSBC was rather weak at 9,815 shares, down from 70,683 shares

traded last week. This volume was dealt across 13 deals as across the week the

Bank’s equity price fluctuated between a weekly high of Eur3 and a low of Eur2.94.

FIMBank

plc shares also closed on a positive note as the

equity closed the only session during which it was active at $0.85 hence up by

1.2 per cent on the week. Turnover in this equity dropped sharply to $3,405 as

one deal of 5,714 shares was executed.

Middlesea

Insurance plc shares brought their positive run to an end

as the losses recorded during the opening and the mid-week session were enough

to propel the equity in the red. In fact the insurance specialist kicked off

the week lower, gained almost 2 per cent on Tuesday while retracted this gain the

following day to finish at Eur1.03 hence down by nearly 1 per cent.

However the worst performer for the

week emanated from the IT Sector as 6PM Holdings lost 34.8 per cent during

one trading session to end the week down at £0.30. One deal of 5,000 shares

worth a mere £1,718 was executed.

Another deal of 650 shares in RS2 Software plc left the equity’s

price intact at Eur0.50.

Malta

International Airport plc gained further ground as the airport

operator finished the week with a gain of 1.79 per cent. On Monday the equity

closed higher at Eur1.70 traded flat the following two sessions while it moved

slightly higher yesterday to finish the week at Eur1.71.

MaltaPost

plc also closed the week on the upturn having

posted a 1.3 per cent or Eur0.011 gain to finish the trading week at Eur1.084.

Turnover reached Eur15,107 which was dealt over 10 transactions.

Island

Hotels Group plc traded flat at Eur0.895 as one deal of

112 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]