MSE

Trading Report for week ending December 23, 2011

Index

up by a scant gain as HSBC and MIA gain ground

The Malta Stock

Exchange (MSE) Index halted its recent negative stance by gaining a minimal 0.5

per cent to end the week at 3,074.879 points despite heading lower in three out

of five sessions. The mid-week session proved to be a key source of support for

this week’s gain, as the solid gains recorded by HSBC Bank Malta plc and Malta

International Airport plc pushed the index towards a significant appreciation

of 0.83 per cent. Activity in the week witnessed the trading of eight equities

in which gainers outperformed losers as four closed higher, three edged lower,

while one closed unchanged. Total turnover increased to EUR317,581 traded

over 234,091 shares, which were dealt across 103 transactions. 

Meanwhile, high turnover

was registered in the Government stocks

market as total trading value amounted to just over EUR22.4m, of which EUR20.8m

were traded within the 4.3% MGS 2016.

 During the week, running

yields were rather mixed, as from the 14 active issues seven traded in positive

territory, five lost ground, while two closed unchanged. The best performer for

the week was the long dated 5.5% MGS 2023 which gained 1.1 per cent. In the Corporate Bonds Market, 29 issues were

active, of which five appreciated in value, four declined and 20 closed flat.

The 7% MIDI plc GBP 2016-2018 headed

the list of gainers as it rose by two per cent.

In the equity

market, HSBC Bank Malta plc snapped back most of the losses

incurred in the previous week by gaining 3.2 per cent or EUR0.08 to close the

week at EUR2.58. The equity was active in the first three sessions of the week

were it appreciated by a sharp gain of two per cent on Monday, traded flat on

Tuesday, while it advanced by 1.2 per cent on Wednesday. A total of 14,184

shares changed hands over eight transactions.

Likewise, FIMBank plc gained a minimal 0.13 per cent over 51,500 shares to

close at $0.77. The equity experienced a turbulent week as it plummeted by nine

per cent on Tuesday, while managing to bounce back in the following session by

recording a 10 per cent gain.

Meanwhile, Bank of Valletta plc (BOV) closed the week unchanged despite some

intra-week price movements. A total of 55,465 BOV shares were traded across 48

trades. The bank experienced a relatively uneventful week as it closed flat in

three sessions, while it slipped by a minimal 0.28 per cent on Wednesday which

it than recouped on Thursday to close at the EUR2.50 levels.  

From the aviation industry, Malta International Airport plc showed

impetus, as its share value rallied by 5.6 per cent or EUR0.09, thus cancelling

most of the losses recorded in the month and returning to a 1.8 per cent gain

year to date. However, trading volume was on the low side as 5,366 shares

changed hands over five deals. The equity was active in three sessions as it

closed flat in two sessions while registering a strong gain on Wednesday to end

the week at EUR1.69.

Similarly, Maltapost plc enjoyed a strong week as the postal operator’s share

priced increased by 4.2% to close at EUR0.995 level. The equity experienced a

positive week as it closed three sessions in positive territory, while it

closed unchanged during two sessions. Tuesday’s session was the main driver to

this week’s gain, following a 2.5 per cent gain.

On a negative note, on Thursday GO

plc surrendered two per cent from its share price, however on one deal of a

mere 400 shares to close at EUR0.98. Throughout the week a total of 20,000

shares changed hands over 12 deals.   The

company this week announced that Mr. Yiannos Michaelides will be relinquishing his post of Interim Chief

Commercial Officer and will be replaced by Mr. Stuart Kelly with effect from

Monday 9th January 2012.

From the

insurance sector, Middlesea plc

contracted by a sharp 11 per cent over one deal of meager 50 shares on Monday

to close the week at EUR0.80. The equity was also active in the last

session of the week were it closed unchanged over 200 shares.

Finally, the other heavy faller this week was MIDI plc, as the equity plunged by 10 per cent over a single trade

of 1,300 shares to close the week at EUR0.351.

We wish you all a

Happy Christmas.

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]