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]