MSE

Trading Report for week ending January 20, 2012

Index

slides lower, as large caps fall  

The Malta Stock

Exchange Index (MSE) re-affirmed its negative stance by recording a further

loss of 0.8 per cent to end the week at 3,080.609 points.  Throughout the week, the Index oscillated

between positive and negative ground. Nevertheless, the sharp losses by highly

capitalised equities drove the Index towards a lurching performance. This week

banks were in the limelight with Bank of

Valletta plc and HSBC Bank Malta plc

being black shadowed by lack of investors’ confidence, while Malta International Airport plc extended

its year to date gains. The week was characterised by the trading of eight

equities, in which declining stocks outnumbered advancers as five depreciated

in value, two gained ground while one closed unchanged. Turnover in the week

almost doubled to Eur613,082, which was traded over 449,394 shares, which were executed

across 155 transactions.

Meanwhile, in the Government Stocks Market participants

showed lack of conviction, as from the 22 active stocks 14 depreciated, while

eight posted minimal gains. Turnover in the week amounted to just over Eur5.4m

of which Eur2.2m were traded in the short-dated 3.6% MGS 2013 issue. In the Corporate Bonds Market, turnover

decreased slightly to Eur325,870 traded over 26 issues. In the week, yields

were rather divergent as 10 closed higher, three edged lower, while 13 closed

unchanged. The 6.25% International

Hotels Investments 2015-2019 headed the list of gainers as it appreciated

by 1.5 per cent.

In the equity

market, Bank of Valletta plc shares

plummeted by 3.01 per cent or Eur0.07 to close the week at Eur2.22. The

bank experienced a relatively negative week as it traded in the red in three

out of five sessions, with Monday and Friday emerging as the worst sessions as

the equity depreciated by 1.3 per cent in each session. Turnover amounted to

105,777 shares which were traded over 85 deals.

Likewise, HSBC Bank Malta plc extended its negative momentum by posting a

loss of 0.8 per cent over a total of 19,832 shares to close the week at Eur2.55.

The financial equity was active in four sessions throughout the week, were it

traded lower in two, posted a scant gain in one and closed flat in the other.

Similarly following last week’s unchanged session, Lombard Bank plc slipped by Eur0.05 or 1.9 per cent on Wednesday to

close the week at the Eur2.55 price levels. Total trading volume amounted to

25,450 shares dealt over two sessions.

From the

hoteliers sector, International Hotels

Investments plc was also a dragger on the index, as the equity slipped by

0.6 per cent on Wednesday to close the week at Eur0.84. Meanwhile, Island Hotels Group Holdings plc traded

flat at Eur0.85 as 1,200 shares were dealt over one deal during Thursday’s

session. 

Additionally, Crimsonwing plc the only IT firm active this week, plunged by 12

per cent in the mid-week session to close at Eur0.22 over 10,500 shares.

On a positive note, Malta International Airport plc extended its year to date gains to

3.6 per cent, as the airport operator’s equity witnessed renewed buying

interest. In fact, the equity advanced by an additional 1.7 per cent on

Thursday to close the week at Eur1.75. The equity was active over two sessions

in which 6,500 shares changed ownership across four transactions. Yesterday the

company announced that the board of directors is scheduled to meet on March 22,

2012, to consider and approve the company’s financial statements for the year

ended December 31, 2011. In addition, the directors

shall also consider whether to declare and make a recommendation to the

shareholders for the payment of a dividend.

From the

telecommunications sector, GO plc

managed to pare the losses incurred in the previous week by recording a gain of

6.2 per cent. The equity was active throughout the whole week were it

appreciated in value in two sessions while it closed flat in the other three to

re-position itself in the Eur0.95 price level. Trading volume reached

255,132, of which 218,200 shares were traded in the last session of the week.

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]