MSE

Trading Report for week ending July 8, 2011

MSE

index minimally lower

For the second consecutive week the Malta Stock Exchange (MSE) closed on a

negative note by edging minimally lower with a 0.31 per cent loss to end the

week at 3,323.537 points. This week’s trading session was characterised by 11

equities being active, of which only Simonds Farsons Cisk (SFC) plc and FIMBank

plc registered gains. Throughout the week trading in bonds issued by the local Government

decreased to EUR 1m, while in the Corporate

Bond Market almost EUR0.75m were traded across 105 deals down by EUR 40,000

from last week.

Over the week the fixed income market

experienced a mixed performance, as from the 26 active issues seven posted a

gain while five edged lower. Once again bonds issued by Mediterranean Investments Holdings plc (MIH) were the best

performers as the 7.5 per cent MIH 2015

— 2017 gained 6.25 per cent on the week. On the contrary, the 5.6% GlobalCapital Plc 2014-16 was the

worst performer for the week, as it slipped by 2.35 per cent over a total

trading volume of 12,000 nominal to end the week at EUR83.

In the Government Stock Market 17 issues were active as only three stocks

moved higher while fourteen recorded a fall in price.  A total of 58 transactions were registered

with the 5.25% MGS 2030 being the most liquid issue which traded at a total

trading value of EUR 467,433.

This week turnover in the equity market increased by EUR 64,339

to EUR 377,554, as 188,739 shares changed ownership over a total of 113 transactions.

A negative trend prevailed throughout the week , as from five trading sessions

four settled in the red and one secured a gain. The mid-week session was the

most negative session, as the MSE index was hampered by a 0.337 per cent drop.  

Bank

of Valletta plc (BOV) shares were once again the most liquid,

as 85,877 shares changed hands over a trading value of EUR 230,621. The Bank

closed unchanged in the first two sessions of the week, while experiencing

losses in the following two sessions, Thursday being the worst trading day as

the banking equity slipped by 1.49 per cent. The last trading session for the

week saw the financial re-gaining ground by 1.89 per cent or EUR 0.05 to end

the week flat at EUR 2.70.

Meanwhile, HSBC also closed the week unchanged at Eur 2.92 following trading

in three sessions. Activity was spread across 17 transactions of 21,939 shares,

as Tuesday was the most active session as 12,579 shares changed ownership over

seven trades. The Bank recorded a 1.03 per cent gain on Thursday, whilst in

Friday’s session it plunged by 1.02 per cent

Low turnover in FIMBank plc shares pushed the equity’s price up by a minimal 0.26

per cent, as the Bank closed the week at $ 0.772 over a mere total trading

value of Eur 651.95. The financial was active in two trading sessions this

week, in which it registered a gain of 1.30 per cent and a loss of 1.03 per cent

following an article published on ‘The Times’ on Wednesday that the bank is

battling a EUR 20.4m claim.

The best performer for the week was SFC, as the beverage operator

appreciated by 1.19 per cent over a single deal of 500 shares on Friday to

close the session at EUR 1.70. Similarly, from the hoteliers sector, Islands Hotel Group Holdings plc (IHG) traded on a low turnover of 450

shares to end the week flat at EUR 0.85.

On the other hand the worst performer

for the week was Malta International

Airport plc (MIA), as the airport operator contracted sharply by 5.88 per

cent over a total trading value of EUR 14,881 on Friday as speculation on relationship

between MIA and AirMalta hit the headlines. MIA’s closing share price for the

week was EUR 1.60, a drop of EUR 0.10. Likewise, MIDI plc depreciated in value by 1.14 per cent following a mid-week

trading session in which 30,000 shares were executed over two deals.

Furthermore, the share price of Maltapost plc (MTP), the postal

operator, sank by 1.58 per cent over a total of nine transactions totalling

16,891 shares. The worst performance was recorded in the first session of the

week, as 1.48 per cent was shaved off MTP’s value, while on Friday the equity

posted a 0.10 per cent loss to end the session at EUR 0.999. From the I.T

sector, Loqus Holdings plc (LQS) edged

by a minimal 0.62 per cent on the week, as 1,000 shares were traded over a

single deal on Thursday to end the week at EUR 0.16.

Plaza

Centres plc (PZC)

ended the week unchanged, as in this week’s trading session the equity was

active in two occasions, in which it closed both sessions flat to end the week

at EUR 1.80. Trading volume reached 15,000 shares which were dealt over four

transactions. Similarly, from the telecommunications sector, GO plc traded unchanged at EUR 1.38

following three sessions of activity. The worst session was the mid-week

session, as the equity snapped a heavy 4.29 per cent loss thus cancelling the

previous gains registered on Tuesday. On the contrary, Friday’s session was

characterised by the equity posting some solid gains, as it appreciated by 2.99

per cent. Earlier in the week the company announced that it had entered into a

share purchase agreement for the acquisition of the remaining forty per cent of

the issued share capital of BM IT Limited, BM Support Services Limited and

Bellnet Limited for a total cost of EUR8m

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]