Index back in negative territory
MSE Trading Report for week ending August 12, 2011
Index back in negative territory
Following last week’s positive performance the Malta Stock Exchange (MSE) failed to sustain its gains by snapping a loss of 3.37 per cent to end the week at 3,159.190 points. The heavy loss recorded on Tuesday emerged to be a drag on the week, as the index contracted sharply by 4.626 per cent to register a record year low of 3,117.717 points. Activity during the week was characterised by eight equities being traded, of which two posted gains and six edged lower, with highly capitalised equities being at the forefront in experiencing negativity. Total turnover in the equity market amounted to just over EUR 1.05m which were traded over a total of 448,728 shares.
Meanwhile, high turnover was registered in the Government Bond Market, as total trading value reached just over EUR 21.5m traded across 20 issues, with the 7.8% MGS 2018 being marked as the best performer for the week, as it gained 1.84 per cent. The highest value traded this week was registered in the 6.6% MGS 2014, with just over EUR 4.4m exchanging hands. In addition, running yields in the Corporate Bond Market were rather mixed, as out of the 21 active issues, nine closed higher, four incurred losses and eight traded sideways. The best performer for the week was the 7.5% Mediterranean Investments Holdings plc 2012-2014 which gained 5.88 per cent.
In the Equity market, HSBC Bank Malta plc was marked as the worst performer from the banking sector, as the equity tumbled by 4.5 per cent, to close the week at EUR 2.76. On Tuesday the Bank registered its heaviest loss as it dipped by 5.9 per cent, while it regained momentum in the following session by 2.2 per cent. On Thursday the equity recorded a minimal loss, while it closed unchanged in the following session. During the week a total of 91,972 shares changed ownership across 29 trades.
Similarly, following last week’s positive performance, Bank of Valletta plc (BOV) shares retreated its gains, as 2.97 per cent or EUR 0.08 was shaved off its share value, to end the week at EUR 2.61. Tuesday was marked as the worst session of the week, as the banking equity recorded a heavy loss of 8.9 per cent which was partially recovered in the following session by gaining six per cent. Yesterday, the share price recorded a minimal gain, thus sustaining its positive trend.
On Wednesday BOV announced it had received 2,842 applications for a total value of just over EUR 55m in respect of the 4.8 per cent 2017 bond issue.
Conversely, the other active banking equity, Lombard Bank plc continued to sustain the strong gains registered in the previous week, as its share value appreciated by a minimal 0.33 per cent, after trading at an intra-week high of EUR 2.70, despite closing the week at EUR 2.699. A total of 52,588 shares were executed across eight transactions.
Middlesea Insurance plc was marked as the worst performer of the week, as the financial equity eased 10 per cent lower over thin trading of 406 shares, thus closing the week at EUR 0.90. Furthermore, for the second consecutive week GO plc shares posted further falls, as the telecommunications operator slipped by 2.25 per cent, to end the week at EUR 1.26. On Tuesday the equity closed at EUR 1.21, as it slipped by six per cent, while it regained four per cent in the mid-week session, as a total of 2,852 shares changed hands across five transactions.
From the hoteliers industry, International Hotel Investments plc continued to trade in the red as it lost ground by 3.85 per cent, to close the week at EUR 0.75. During the week, turnover reached EUR 16,980 traded across 22,374 shares which were dealt across 11 transactions. Likewise, Malta International Airport plc traded in negative territory by notching the price down to EUR 1.50, a loss of 6.25 per cent or EUR 0.10. On Tuesday the airport operator fell out of favour as investors sold off the equity, while it traded flat in the following two sessions. Total trading volume amounted to 29,100 shares.
On the contrary, RS2 Software plc was the best performer for the week. The I.T. operator continued to sustain its previous gains, moving higher by 1.82 per cent to end the week at EUR 0.56, registering two trades worth EUR 11,662.
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]