MSE

Trading Report for week ending February 17th, 2012

Index

strikes six weeks of losses

For the sixth consecutive week, the Malta Stock Exchange Index (MSE) re-affirmed

its negative momentum by registering a loss of 0.2 per cent to close the week

at 2,989.290 points, thus increasing its year to date loss to 3.4 per cent. The

index in the week oscillated from negative to positive with the majority of

large caps trading in negative zone, while the significant gain by International Hotels Investments plc

was a key determinant in halting further possible losses. The tone on the local

market turned uneasy, as 10 from the 12 active equities 10 declined in value,

while the remaining two managed to mark themselves on the list of gainers.

Activity in the week turned out on high volumes of 772,887 shares, with Crimsonwing plc trading 65 per cent of

the total volume.

In the Corporate Bonds Market, as opposed to

last week turnover doubled to reach just over one million Euros, as out of the

28 active stocks, 12 appreciated in value, 13 closed lower, while three closed

unchanged. The 5.6% Global Capital

2014-2016 headed the list of gainers with a 2.5 per cent gain. Meanwhile, in

the Government Bonds Market as

international equity markets maintained a comparatively running upbeat trend,

yields took a parallel approach from the previous week, as from the 20 active

issues 11 traded in negative territory, eight registered gains while one closed

unchanged. The 4.6% MGS 2020 was the

most liquid issue as total trading value amounted to just over EUR2.9m, which

were traded over four deals.

From the

equity market, International Hotels

Investments plc was the main gainer for the week, as it shares surged by

four per cent to regain the EUR0.78 price levels. The hoteliers equity was the

second most liquid as a total of 100,307 shares were dealt across two

trades. 

Meanwhile, the

financial sector was unable to fight off sellers, as from the six active

equities, HSBC was the sole stock to

register a marginal gain. In fact, the banking equity managed to capture a 0.4

per cent gain on Friday to end the week at EUR 2.56. The equity was active in

three sessions as a total of 12,635 shares were dealt across seven

transactions. On Thursday, the company announced the appointment of Mr. Mark Watkinson

as Executive Director with effect from 14 February 2012.

On the

contrary, Bank of Valletta plc

shares fell out of favor as the bank traded lower in three sessions, with

Tuesday being the worst day for the equity as it declined by 1.2 per cent. Activity

in the week was spread over four sessions in which a total of 46 transactions

were traded over 65,051 shares to end the week at EUR 2.17 and thus 2 per cent

lower on the week. Likewise, 0.4 per cent was shaved off Lombard Bank plc shares over a single deal of 9,700 shares to close

the week at the EUR2.52 price level.

     

FIMBank plc

depreciated by a further 0.3 per cent following last week’s considerable

losses. The Bank was active in two sessions were it traded flat on Thursday

while it incurred the said loss on Friday to end the week at $0.748. Similarly,

Middlesea Insurance plc shares

re-experienced a torrid week with a significant loss of three per cent over a

mere of 50 shares to reach new record lows of EUR 0.68. The other active

financial was Global Capital plc, which

slipped by a sharp five per cent on Friday, as 10,600 shares changed ownership

over eight trades to close at EUR0.95.

From the

telecommunications sector, Go plc

dipped further in negative ground by 3.3 per cent or EUR0.028. The equity was

active in two sessions and despite a positive start to the week by recording a

gain of two per cent, this was than totally cancelled in the following session

as it plunged by 5.2 per cent to close the week at EUR0.832. Furthermore, Malta International Airport plc shares

declined by 2.3 per cent or EUR0.04 over two sessions as 33,515 shares were

traded over six transactions.

From the

I.T. sector, both 6PM Holdings plc

and Crimsonwing plc were among the

primary laggards for the week. The former depreciated by 7.5 per cent on 10,000

shares on Monday to close at £0.37, while the latter slipped by a further 11.1

per cent to close the week at EUR0.16, and thus a 28 per cent loss year to

date.

Finally,

from the postal industry, Maltapost plc

surrendered all the gains recorded in the previous week by registering a loss

of four per cent on Thursday to re-position itself within the EUR0.95 price

levels.

 

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]