Index back in positive territory
MSE
Trading Report for week ending September 30, 2011
Index
back in positive territory
Following last week’s negative
performance the Malta Stock Exchange
Index (MSE) managed to snap a meagre 0.58 per cent to end the week at
3,108.287 points. This week the index experienced instability in the first
three sessions by shifting between positive and negative, while it posted gains
on Thursday and Friday of 0.5 per cent and 0.54 per cent respectively. As
opposed to last week’s performance the highly capitalised International Hotels Investments plc emerged to be a key
determinant for the broader market, as the equity rallied by 5.3 per cent
pushing the index towards a positive end to the trading week. Total trading
volume reached 260,034 shares which were dealt across 133 transactions, while
turnover amounted to EUR 383,403 traded over 13 equities with gainers and
non-movers tallied to four, while losers amounted to five.
Meanwhile, in the Government Stock Market investors took a dissimilar position from
the previous week, as from the 21 active issues 18 edged lower while three
traded in positive territory. The worst performer and the best gainer emerged from
medium-dated issues, as the 5% MGS 2021
dipped by 1.3 per cent, while the 6.6%
MGS 2019 rose by 1.2 per cent. Running yields in the Corporate Bond Market were rather unbalanced as 14 issues closed
unchanged, seven gained ground, while eight posted a loss with the 7.5% MIH 2015 heading the list of
gainers by snapping a gain of 1 per cent.
In the equity
market, International Hotels
Investments plc was the best performer this week and with the registered
gain of 5.3 per cent managed to eliminate the loss suffered during the previous
week. The equity started-off the week on a negative note when it depreciated by
2.6 per cent to reach an intra-week low of EUR0.74, but regained momentum during
three of the remaining sessions and yesterday registering a solid gain of 5.26
per cent to end the week at EUR0.80. A total of 20,962 shares changed ownership
across six trades.
From the banking sector, Bank of Valletta plc shares slipped by 1.2 per cent or EUR0.029 to
end the week at EUR2.501. The equity was active throughout the whole week as it
traded in the green on Monday, while it declined during three of the remaining
sessions with Friday being the worst session as it registered a loss of 1.3 per
cent. The equity had the lion’s share of the market as total trading value
amounted to EUR161,139 traded over 47 transactions.
Similarly, FIMBank plc slipped by 3 per cent over 20,452 shares to close the
week at EUR0.747. In the mid-week session the equity experienced a sharp loss
of 9.1 per cent which it than partially cancelled in the following session when
it posted a gain of 6.7 per cent as trading volume almost tripled. Meanwhile,
the other active banking equity HSBC
Bank Malta plc closed unchanged at EUR2.63 after trading at an intra-week
low of EUR2.629 and an intra-week high of EUR2.64.
From the Insurance sector, Middlesea Insurance plc gained 0.99 per
cent over thin-trading of 216 shares across one single session to end the week
at EUR0.92. On Tuesday the company announced that the necessary regulatory
approvals in connection with the appointment of Mr. Alfredo Munoz Perez as
Chief Executive Officer have been obtained from the Malta Financial Services
Authority.
Likewise, Simonds Farsons Cisk plc snapped a 0.3 per cent gain to end the
week at EUR1.80. On Wednesday the company announced the
group’s unaudited financial statements for the six month period ending July 31,
2011, were
Group turnover reached EUR36m, an increase of three per cent over the
comparative period last year, while profit after tax increased by 21 per cent
to reach EUR2.6m. In addition, the company also announced that an interim
dividend of EUR0.0133 was approved by the board of directors which will be paid
on Friday 21st October to ordinary shareholders who will be on the register
as at the close of business on Friday 7 October 2011.
Malta
International Airport plc was also present in the list of gainers,
as the airport operator share value advanced by 2.6 per cent to end the week at
EUR1.57. On a negative note, RS2
Software plc halted its recent upward trend, as its share value plummeted
by 3.3 per cent to close the week EUR0.58. Similarly, both Crimsonwing plc and Midi plc
shares declined in value, as the former posted a loss of 2 per cent in the
mid-week session to end the week at EUR0.338, while the latter slipped by 1.2
per cent on Thursday to close the week at EUR0.415.
Meanwhile, the other non-movers on the week
were GO plc, Plaza Centres plc and Global
Capital plc which maintained their previous closing prices at EUR1.12, EUR1.80
and EUR1.00 respectively.
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]