MSE

Trading Report for week ending July 29, 2011

Banks

drag MSE Index lower

The Malta Stock Exchange (MSE) continued to trade in negative territory

for the fifth consecutive week in a row by posting a loss of 1.51 per cent to

close the week at 3,223.711 points. The sharp loss recorded on Wednesday

contributed to this week negative performance, as the index registered a year

low. The week was characterized by 11 equities being active, of which losers

and gainers tallied at four, while non-movers totalled to three. Total turnover

increased to EUR593,984.42 traded over 178 transactions.

High turnover was registered in the Government Bond Market, as trading

value increased to just over EUR16.6m traded over 20 issues, of which 15

appreciated in value and five posted losses. Similarly, to last week’s sessions

short-dated bonds were the most active issues with the 7.8% MGS 2012 heading the list as turnover reached just over EUR6.3m.

Meanwhile in the Corporate Bond Market turnover

decreased by EUR94,847 which was traded over a total of 67 transactions with

the 7.15 %Mediterranean

Investments Holdings plc USD 2015-2017 being the best performer for the

week registering a 17.29 per cent gain.

In the Equity

Market the banking sector was one of the prime sectors which left an impact

on this week’s MSE negative performance, as all three active banks reached new

lows for the year. Bank of Valletta

eased lower by 2.26 per cent, as a total of 153,254 shares changed ownership.

During the week the bank started-off by snapping a 1.89 per cent loss on

Monday, while it posted a minimal gain of 0.04 per cent on the following day.

The mid-week session was the worst session, as it reached an intra-week low of EUR2.55

by registering a loss of 1.57 per cent. In Thursday’s session the equity

cancelled the losses incurred in the previous day by gaining 1.57 per cent, which

it maintained on Friday to close the week at EUR2.59.

Similarly, 3.11 per cent was shaved-off HSBC Bank Malta plc share value. A

total of 12,617 shares which were executed over 18 transactions pushed the bank

share price down to EUR2.80. The equity traded flat in the first session of the

week but recorded a 0.69 per cent loss in the following session. Moreover,

Wednesday’s session proved to be the drag on the bank’s share value, as it

plunged 2.44 per cent. On Friday the Bank announced its Half-Yearly results for the period ending

June 30, 2011.The Group registered a rise of 19.3 per cent in its Profit before

tax, which reached the EUR50m level. The company has also announced a dividend

of EUR0.082 gross per share (EUR0.053 net of tax).     

Lombard

Bank plc headed the list of losers, as during Wednesday’s

session the bank’s share price contracted sharply by 4.12 per cent to reach a

year low of EUR2.56, while on Friday it posted a minimal gain 0.2 per cent to

end the week at EUR2.565. During the week turnover reached EUR40,575 as 15,700

shares changed hands over four deals.

International Hotels Investments

was the other loser on the week, as the share price of the hotel operator lost

ground by 1.22 per cent on Friday to close the week at EUR0.81. A total of

18,026 shares were traded over five deals. On the contrary, the best performer

for the week came from the beverage sector, as Simonds Farsons Cisk plc put together some solid gains by recording

a gain of 5.88 per cent. The equity was active in two sessions during the week,

with the appreciated in value occurring on Wednesday to end the week at EUR1.80.

A total value of EUR11,926 was traded over 6,946 shares which were executed

across five transactions.  

Furthermore,

Malta International Airport share

value appreciated by 2.58 per cent, over a total of 10 trades worth EUR13,553

to close the week at EUR1.59. On Wednesday the company announced its financial

statements for the first six months ending 30th June 2011. Group’s profit before tax increased from EUR5.64m to EUR6.28m, a

rise of 11.4 per cent, while revenue also increased to reach EUR22.66m. The company

also reported that the Directors approved a net interim dividend of EUR0.03 per share (gross  EUR0.0461538)

equivalent to EUR4,059,000 for payment

on all shares settled as at close of business on Monday, 8 August 2011, and

payable by not later than 15 September 2011.

Similarly, MIDI

plc recorded a slight gain of 1.15 per cent on

Tuesday over five deals of 18,000 shares.

RS2 Software plc

emerged as another gainer on the week by posting a 3.77 per cent or EUR0.02

gain, over a single session on Friday to end the week at EUR0.55.Two deals

worth EUR14,885 were traded across a total of 27,500 shares. Meanwhile, GO plc closed the week flat at EUR1.30

after trading at an intra-week low of EUR1.24 on Wednesday. The telecommunications

operator traded in negative territory in the first three session of the week

and than cancelled the losses incurred in the following two sessions. Friday

proved to be the winning strike, as the equity was put back on track by

re-gaining 3.17 per cent. During the week a total of 36,588 shares were traded

which were executed over 23 transactions. Meanwhile, other non-movers for the

week were 6pm Holdings and Plaza Centres plc, as the former closed

at GBP0.28 over a single deal of 1,500 shares, while the latter ended the week

at EUR1.80 as 6,500 shares were traded.

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]