MSE

Trading Report for week ending September 16, 2011

Index

maintains positive trend

Following last week’s solid gain, the Malta Stock Exchange Index (MSE) re-confirmed

its positive trend as it gained a further 0.6 per cent to end the week at

3,133.498 points. Thursday’s strong session emerged to be the main contributor

towards the broader market, as the index recorded a 1.1 per cent gain which was

reflected by the outstanding performance recorded by International Hotels Investments plc (IHI). As opposed to last week

turnover increased to EUR423,604 traded across eight equities, of which one

closed markedly higher, four lost ground and three closed unchanged. Total

trading volume this week amounted to 188,309 shares traded across 126

transactions.

Meanwhile, investors’ confidence

continued to prevail on the Government Stock

Market with nine from the 16 active issues appreciated in value, while six edged lower and one closed

flat. Long-dated issues headed the list of gainers with the 5.5% MGS 2023 gaining 1.5 per cent

followed by the 5.1% MGS 2022 which

rose by 1.2 per cent. During the week turnover decreased further to just over EUR3.6m

traded over a total of 85 transactions.

In the Corporate Bond Market, running yields were quite unbalanced, as

nine issues gained ground, seven depreciated in value and 13 closed sideways.

As the company

announced that operations at Palm City Residences were at full swing following

requests made by new clients to lease units, the 7.15% Mediterranean Investments Holding plc Euro 2015-2017

was the best performer this week by registering a 2.1 per cent gain.

In the Equity

market, International Hotels

Investments plc shares emerged to be the sole gainer for the week, as the

hotelier’s operator share value surged by a strong 9.6 per cent. It must be

pointed out that the equity was active in a single session with 1,000 shares

being traded over a single trade to end the week at EUR0.80. It must be said

that such price movements on very low volume are very common in the local

market.

From the banking sector, Bank of Valletta plc (BOV) halted its recent upward trend, as the

banking equity was the worst performer for the week as it plunged by 3.5 per

cent to end the week at EUR2.50. BOV’s share price kick-off the week by

registering a positive session which it than reverted on Tuesday, while it

posted a minimal gain in the mid-week session. On Thursday, following the

negative news that a new judicial protest was filed by 40 investors alleging

breaches by BOV, the Bank’s share value slipped by 1.6 per cent followed by a

heavy loss of 2.3 per cent on Friday. The equity was once again the most liquid

issue, as total trading volume amounted to 126,529 shares which were executed

across 82 transactions.

HSBC

Bank Malta plc closed the week unchanged at EUR2.70

after trading at an intra-week high of EUR2.731. On the first trading session

of the week the equity advanced by 1.1 per cent which it maintained in the

following three sessions. On Friday investors turned their back on the banking

equity as it registered a loss of 1.1 per cent, thus cancelling last Monday’s

gain. The other active financial for the week was Lombard Bank plc which closed flat at EUR2.70, as 1,000 shares

changed hands over a single session on Friday.

From the postal industry, Maltapost plc snapped a 0.9 per cent

loss over a single session on Thursday. The equity’s turnover amounted to a

mere of 60 shares which were dealt over one single trade to close the week at EUR0.97.

Likewise, 0.7 per cent was shaved-off Malta

International Airport plc share

value to end the week at EUR1.53 over a total of 1,360 shares which were traded

across five transactions.

The other negative performer for the week

came from the telecommunications sector, as GO plc shares slipped by a minimal 0.08 per cent on Tuesday which

it than maintained in the following three sessions to end the week at EUR1.20.

A total of 17 transactions worth EUR50,597 were traded over 42,260 shares.

Meanwhile, from the beverage sector, Simonds

Farsons Cisk plc maintained its previous closing price at EUR1.795 over

thin-trading of 300 shares over a single session on Thursday.

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]