MSE

Trading Report for week ending July 22, 2011

Large

Caps drag down the MSE index for the fourth week in a row

For the fourth week in a row the Malta Stock Exchange (MSE) settled in

the red, as it eased 0.52 per cent lower to close the week at 3,273.164 points.

This week activity was spread across 14 equities, of which two appreciated in

value, eight posted a loss and the other four closed unchanged. Contrary to

last week turnover has decreased to Eur212,721 traded over a total of 92

transactions.

In the Government Bond Market turnover decreased to 5.6m traded over 20

issues, of which 18 traded in negative territory and two posted minimal gains.

In this week’s sessions short-dated bonds were the most liquid issues, with the

5.7 per cent MGS 2012 being the most

traded reaching just over Eur2m followed by the 7.8 per cent MGS 2012 where trading value reached just over Eur1m.    

Meanwhile in the Corporate Bond Market activity was spread over 20 issues, as total

trading value decreased to Eur520,578. Yields were rather volatile, as six

issues appreciated in value, five snapped losses and nine failed to record changes

in price. The 7.5 per cent Mediterranean

Investment Holdings 2015 — 2017 was the best performer on the week with

solid gains of 6.78 per cent, while the 4.6

per cent HSBC Bank Malta 2017 emerged as the worst performer for the week

by incurring a 1.20 per cent loss. Meanwhile the 4.25 per cent FIMBank plc 2013 was the most traded issue as Eur79,870 was traded.

During the week the Equity Market was shadowed by a negative sentiment, as four sessions

out of five recorded negative performance. Looking at the banking sector, Bank of Valletta (BOV) shares slipped

by 0.38 per cent on the week, as a total of 38,271 shares changed ownership

over 47 transactions to end this week’s session at Eur2.65. The Bank

started-off the week by snapping a 1.5 per cent gain on Monday which it

maintained in the following two sessions. On Thursday the equity lost ground by

1.85 per cent to end the session at Eur2.65, while trading flat on Friday. On

Tuesday the Bank announced that it has been given approval by the Listing

Authority for the

admissibility to listing on the Official List of the Malta Stock Exchange of a Eur125,000,000

Debt Issuance Programme. Pursuant to the programme the bank announced that it

will be offering to the general public the first series and tranche under the

Programme of Eur40,000,000 4.80% p.a. notes due 2018.

Meanwhile, HSBC Bank Malta plc was the only gainer from the banking sector

by gaining 0.7 per cent to end the week at Eur2.89. A total of 7,610 shares

were traded over the last three sessions of the week, of which Friday was the

winning strike for the banking equity. On the contrary, following an absence

from trading for the past weeks, Lombard

Bank plc plunged by 5.99 per cent on Wednesday and traded unchanged in the

following two sessions. During the week a total of 7,221 shares changed

ownership over a total of three transactions to close the week at Eur2.67.

Following

last week’s negative performance GO plc

continued to post further falls, as the telecommunications operator dipped

further down by 4.41 per cent on the last session of the week to close at Eur1.30.

During the week turnover reached Eur11,960 over a total of seven deals which

were traded across two sessions. On the other hand, the other gainer for the

week was Maltapost plc, as the

postal operator gained a minimal 0.1 per cent during Wednesday’s session to

close the week at Eur1.00. A total of four transactions worth Eur9,879 were traded

over 10,000 shares.  

Despite

yesterday’s encouraging announcement that passenger movements grew by 12.7 per

cent for the first six month of the year compared to those in 2010, the share

price of Malta International Airport

(MIA) posted a loss of 2.52 per cent on Friday. This movement occurred on a

mere 978 shares to end the week at Eur1.55. Earlier during the week the company

announced that the current Chief Executive Officer (CEO), Julian Jaeger, was

appointed on a new management board. The company continued by stating that a

new CEO for Malta International Airport plc will be selected in due course.

From the Information Technology sector

the worst performer for the week was 6pm

Holding plc, as the I.T. operator edged lower by 12.5 per cent in one session

to close the week at Eur0.28 over two trades of 2,877 shares. Furthermore, Crimsonwing plc notched its share price

down to Eur0.345 following a loss of 2.82 per cent over a mid-week session. Meanwhile,

the second most liquid issue for the week, RS2

Software plc, traded flat at Eur0.53 after trading at an intra-week high of

Eur0.54 on Monday. A total of 50,000 shares worth Eur26,930 changed ownership

over seven transactions.

The other negative performers for the

week were Santumas Shareholdings plc

and Medserv plc. The former has

contracted sharply by 16 per cent of 2,000 shares on Monday to close at Eur2.10.

Similarly, the latter’s share value was shaved off by 3.75 per cent over a

small amount of 1,000 shares. The equity was only active on Friday, closing the

week at a share price of Eur3.85.

From the beverage industry, Simonds Farsons Cisk plc ended the week

unchanged at Eur1.70, as a single trade of 1,000 shares was traded on the first

day of this week’s trading session. Moreover, from the hotels sector, Island Hotels Group plc traded flat at Eur0.85

on Friday over one single trade of 250 shares. Another non-mover for the week

was Global Capital plc which

maintained its previous closing price at Eur0.50 over lean trading of 192

shares.

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]