Maltapost and BOV only gainers as index falls 0.4 per cent


Trading Report for week ending December 2, 2011


and BOV only gainers as index falls 0.4 per cent

Following last

week’s negative performance the Malta Stock Exchange (MSE) index stumbled by a

further 0.4 per cent to end the week at 3,115.438 points. The tone on the local

index turned uneasy, as it settled in the red in three out of five sessions

with both HSBC Bank Malta plc and Go plc re-affirming their negative

stance. Trading volume throughout the week decreased to 231,015 shares, while

turnover amounted to EUR403,004. The week witnessed the trading of nine

equities in which losers’ outperformed gainers, as six lost ground, two

appreciated in value, while the RS2

Software plc traded unchanged.

As opposed to the recent negative sentiment,

investors regained some confidence in the Malta Government Bonds market, as from the 17 active issues five gained

ground, 11 posted losses and one closed unchanged. The 4.6% MGS 2020 partially

cancelled its recent losses as it headed the list of gainers by recording a 1.6

per cent gain. Meanwhile, high turnover was recorded in the Corporate Bond Market, as total trading

value reached just over EUR1.04m. Activity was spread across 29 issues, of

which seven strengthened in value, 10 incurred a loss while 12 closed flat. The

worst performer for the week was the 4% AX Investment 2013 which depreciated by

3.5 per cent.

In the equity market, Lombard Bank plc headed the list of losers among banking equities,

as the bank’s share   value drifted lower by 1.1 per cent to close

the week at EUR2.70. The equity was active in a single session on Thursday were

1,200 shares changed hands over two transactions. Likewise, HSBC Bank Malta plc continued to trade in negative zone, as the banking equity slid by 0.8

per cent to end the week at EUR 2.58. During the week the mood swayed from

positive to negative, with Tuesday being the worst session for the equity as

the share price fell by 1.2 per cent. A total of 35,399 shares changed

ownership over 21 transactions.

On a positive note, Bank of Valletta plc managed to snap a minimal gain of 0.4 per

cent. The equity was active throughout the whole week, as it closed unchanged

in two sessions, registered a loss in one, while it traded in positive

territory in the other two to close the week at EUR 2.50. The banking equity

re-confirmed itself as the most liquid as total trading value reached EUR

208,411 traded over 83,209 shares.

From the postal industry, Maltapost plc soared by 3.2 per cent over a single session on

Monday to close at EUR 0.98. On Thursday, the company announced its financial statements

for the year ended September 30, 2011 were it stated that profit before tax

declined to EUR3.05m, thus a decrease of 4.8 per cent. Furthermore, the company

announced that it proposed a dividend payment of EUR0.04 per share. 

Conversely, Go

plc shares tumbled by a further four per cent to close at EUR1.00. In the

week, a total of 77,207 shares were traded over 31 trades. The equity

experienced a torrid week as sellers applied pressure in four out of five

sessions following uncertainty on its indirect investment in Greece. In fact, on Tuesday the Company affirmed

that the shares it holds in Forthnet, an indirect investment, were transferred

to the ‘Under Surveillance’ segment on the Athens Stock Exchange.

Malta International

Airport plc shares diverged to a differing

direction from last week’s position, as the airport operator slumped by 1.2 per

cent in the mid-week session to end the week at EUR1.68. Similarly, from the

I.T sector Crimsonwing plc plunged

by a further 10 per cent on Thursday to close the week at EUR0.27. This week, Crimsonwing published its half-yearly

financial statements for the six months ending 30 September 2011. During the

six months, the Group reported an increase of 9.5% in revenue to EUR7.7 million,

which represents the highest revenue figure for the first half of its financial

year. Despite this, pre-tax profit for the period under review was reported at EUR38,279

compared to the pre-tax profit of EUR293,272 reported for the same period last



from the beverage sector, Simonds

Farsons Cisk plc faltered by 0.5 per cent over a mere of 700 shares to

close at the EUR1.80 level.


RS2 Software plc closed unchanged at

EUR0.59 as on Thursday 3,000 shares were traded across a single transaction.

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]