MSE

Trading Report for week ending October 7, 2011

Uneventful

week on the local exchange

The MSE index failed to sustain last

week’s gain by posting a minimal loss of 0.1 per cent to end the week at

3,105.699 points. Negativity prevailed this week as out of five sessions the

index registered losses in three, while it gained ground in two. Highly

capitalised equities were once again in the limelight, as the negative

performances by Bank of Valletta plc, GO

plc and International Hotels

Investments plc emerged to be a drag towards the broader market, and thus

to the index negative close. Total trading volume increased to 296,587 shares

which were executed across 119 transactions, while turnover reached Eur469,231

traded over nine equities, of which six recorded losses, two registered gains

and the other traded unchanged.

Meanwhile, in the Government Stock Market running yields were rather balanced, as

from the 18 active issues nine appreciated in value, eight traded at a loss and

the other closed flat. The short-dated 5.7%

MGS 2012 was the most liquid issue as total trading value amounted to Eur528,437.

In the Corporate Bond Market gainers

and losers tallied to seven while non-movers totalled 13. The 5.6% Global Capital plc 2014-2016

headed the list of losers as it declined by 5.6 per cent, while the 6.6% Eden Finance plc 2017-2020 was the best performer as it

gained 1.8 per cent.

In the equity

market, following last week’s strong performance International Hotels Investments plc shares slipped by a meagre 0.63

per cent to end the session at Eur0.795. The equity was active in two sessions

during the week, in which it traded flat on Tuesday while it registered the

said loss on Friday. The hoteliers’ equity had the lion’s share of the market

as total trading volume reached 111,416 shares which were traded over 12

transactions. Meanwhile, on Wednesday the company announced that Mr. Nagmeddin Hemali Mokhtar has

been appointed as a Non-Executive Director replacing Mr. Ibrahim

Zletni.

From the financial sector Lombard Bank plc emerged to be the

worst performer as the banking equity tumbled by 3.3 per cent or Eur0.089 .The

equity kicked-off the week on a negative note when it incurred a loss of 2.2

per cent which it than it recovered in the mid-week session. However, on Thursday

the equity plummeted by 3.3 per cent to end the week at Eur 2.59. A total of

12,590 shares changed hands over nine trades.

Similarly, Bank of Valletta plc shares extended their negative performance for

the second week in a row when the equity’s share value depreciated by a slight 0.04

per cent on Monday to close the session at Eur2.50, the price at which the

equity closed the week. In the week turnover reached Eur211,350 which was

traded across 63 transactions. On Thursday the Bank announced the date of its

forthcoming Annual General Meeting which will be held on Friday, December 16,

2011.

Conversely, HSBC Bank Malta plc snapped a 0.8 per cent gain or Eur0.02 on

Tuesday to end the week at Eur2.65. Activity was spread across four sessions

with total trading volume amounting 22,691 shares which were dealt across 17

transactions. Meanwhile, the other active financial this week was Middlesea Insurance plc which closed

the week unchanged at Eur0.92 over a single session across low volumes of 216

shares. On Thursday evening the company published the response to the mandatory

bid issue by Mapfre International to the other shareholders of Middlesea

Insurances plc. The company stated that 780 shareholders, equivalent to 3.585

per cent of the total shareholding of the company, accepted the bid and opted

to sell their shareholding to Mapfre. The company further announced that as

previously indicated Bank of Valletta retained its full shareholding in the

company of 31.08 per cent, while following the bid offer the Pubic and Mapfre

Internacional S.A. hold 14.36 per cent and 54.56 per cent respectively.

From the telecommunications sector, GO plc dipped by 1.8 per cent to end

the week at Eur1.10. On Monday the equity appreciated by 1.8 per cent which it

than reverted on Thursday by posting a loss of 3.5 per cent, while it traded

flat on Friday. Likewise, Santumas

Shareholdings plc plunged by 9.5 per cent over two deals of 4,349 shares to

end the week at Eur1.90.

Malta

International Airport plc snapped a slight loss of 0.06 per

cent notching the price down to Eur1.569. The equity commenced trading on

Thursday were it posted a loss of 1.3 per cent, which it than recovered

partially in the following session. On Monday the company released its traffic

results for the month of September and reported that passenger movement reached

382,389 persons thus an increase of 2.4 per cent compared to the same month in

2010, and thus is the highest number ever registered in September.

Finally on a positive note, following last week’s loss RS2 Software

plc managed to recover ground by 1.7 per cent over a single session on

Thursday to end the week at Eur0.59.

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]