MSE Trading Report

for week ending June 3, 2011

Turnover in the

equity market recovers

The

Malta Stock Exchange Index (MSE) edged minimally lower following a week during

which the local Index seemed to be heading for a positive close. However,

losses during the opening and closing sessions were enough to push the Index lower

for the second week in succession. In fact, yesterday the MSE closed the day at

3,377.71 points, hence down by a mere 0.04 per cent on the week. Turnover in

the equities market increased significantly to EUR601,948 as 152 deals of

almost 450,000 shares were executed. Through out the week all active banking

equities closed lower with FIMBank plc heading

the list of fallers. Meanwhile MIDI plc headed

the list of gainers followed by International

Hotel Investments plc (IHI). Out of the 13 active equities five gained, six

closed lower while another two finished the week unchanged.

Notwithstanding

the increase in turnover in the equity market, turnover on the MSE over the

week declined heavily to EUR6.2m following a sharp drop in the government

stocks market. Infact, trading in the Government

Stocks market reached EUR5.3m, down from EUR23.3m traded last week.

Meanwhile in the Corporate Bonds market 55

transactions worth EUR338,437 were executed. The 4.8% Bank of Valletta 2020 was the most liquid as over EUR87,000

changed hands across 10 deals while the 7.15%

MIH 2015 — 2017 was the best performer with a 6.7 per cent gain.

In

the Banking sector FIMBank plc shares

lost almost 6 per cent or $0.05 as the equity closed the week at $0.80 after

having traded at a high of $0.84. The equity plunged on Tuesday as over 116,000

shares were traded while another 9,000 shares were negotiated yesterday over

one deal. The Bank announced that the Board of Directors is scheduled to meet

on Wednesday August 10, 2011 to consider and approve the consolidated financial

statements for the half year ended June 30, 2011. During this meeting the Board

will also be considering the payment of an interim dividend.

HSBC Bank Malta plc shaved off 1.2 per

cent or EUR0.035 to end the trading week at EUR2.95. Trading volume decreased

to a mere 2,700 shares dealt over three deals which were spread over two

trading sessions.

Meanwhile

Bank of Valletta plc shares closed

again in the red with a weekly loss of 0.36 per cent or EUR0.01. The equity

kicked off the week with a staggering fall of 4 per cent or EUR0.11 while it

managed to wipe off this entire decline in the three sessions which followed.

However on Friday the equity shed another 1 per cent or EUR0.03 to end the week

at EUR2.74, having traded at a low of EUR2.64 and a high of EUR2.77. Over EUR236,000

were dealt over 78 transactions of 87,373 shares. Following this decline the

equity’s performance since the beginning of the year stands at 14.8 per cent.

Middlesea Insurance

plc also

closed in negative territory at EUR0.99 thus declining by 3.79 per cent or EUR0.039.

However trading volume was rather week as 1,546 shares were dealt across two

transactions. This week’s loss puts the equity’s year-to-date performance down

by 2.46 per cent.

On

the positive side MIDI plc topped

the list with a 4.5 per cent or EUR0.019 gain as 10 deals of 52,100 shares were

executed. Throughout the week the equity’s price fluctuated between a low of EUR0.41

and a high of EUR0.439, the week’s closing price.

IHI shares posted a 3.75

per cent or EUR0.03 gain as the equity closed the week at EUR0.83. However

turnover was on the low-side as nearly EUR2,300 were dealt over three deals of

2,806 shares. Conversely, Island Hotels

Group Holdings plc closed the week down with a hefty loss of just over 5

per cent or EUR0.045 as 400 shares were dealt across two deals.

On

the contrary GO plc edged minimally

higher with a 0.66 per cent gain to finish the week at EUR1.379 after having

traded at a low of EUR1.32. Throughout the week the telecoms company was the

most liquid as 130,540 shares were dealt across 23 transactions.

Grand Harbour Marina

plc shares

recorded a similar gain as the equity closed at this week’s highest trading

price of EUR1.98. A total of 20,000 shares were dealt across eight transactions

in the final two trading sessions.

Malta International

Airport plc also

closed in the green as the airport operator recovered the loss recorded in the

opening session. In fact yesterday the equity gained 1.76 per cent after having

shed 0.6 per cent on Monday to return a weekly gain of 1.17 per cent or EUR0.02.

The Board of Directors is scheduled to meet on July 27, 2011 to consider and

approve the Company’s Interim Financial Statements for the first six months of

2011.

On

the contrary MaltaPost plc shed a significant 5.6 per cent or EUR0.06

during Tuesday’s session while it traded flat thereafter as it ended the

week at EUR1.02.

Meanwhile

RS2 Software plc shares traded flat

at EUR0.499 over one deal of 1,000 shares while another deal of 140 shares in Simonds Farsons Cisk plc (SFC) left the

equity’s price intact at EUR1.75. The Board of Directors of SFC announced that the

company’s AGM will be held on Thursday June 23, 2011.

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]