MSE

Trading Report for week ending March 9th, 2012

Index

trades flat as HSBC maintains upbeat trend

The Malta Stock Exchange (MSE) managed

to maintain its positive stance by recording a scant gain of 0.05 per cent to

end the week at 3,004.808 points. The mood in the week swayed from negative to

positive with HSBC Bank Malta plc

being the prime instigator for the index sustained position, while Go plc shares retreated most of gains

registered in the previous week. Activity in the week witnessed the trading of

10 equities in which losers reigned over gainers, as six dwindled lower, two

captured a gain and the other two closed unchanged. Meanwhile, total turnover

in the week increased to EUR663,525 traded over 305,570 shares, with Bank of Valletta plc winning the lions

share in volumes.

In the local Government market

turnover reached significant values of just over EUR25.2m which were traded

over 26 issues. Throughout the week participants showed their lack of conviction,

as 21 stocks moved lower, four managed to spot a gain, while one closed

unchanged. Long-dated issues were the worst performers for the week with the 5.2% MGS 2031 heading the list of

losers by recording a loss of 1.6 per cent, followed by the 5.25% MGS 2030 which slipped by 1.3 per

cent.

Meanwhile in the Corporate Bonds Market yields opted for divergent directions, as

from the 25 traded stocks seven closed higher, six edged lower, while 12 closed

sideways. The best performer for the week was the 6.8% Premier Capital plc 2017-2020 which advanced by 1.1 per cent.

In the equity market, HSBC Bank Malta plc maintained the recent bullish bias by settling

in green territory for the fourth week in a row. In fact, the banking equity

consolidated its position by a further gain of 1.4 per cent or EUR0.035 to

close the week at EUR2.635. As opposed to the recent low profile activity, the

equity was active throughout the week with Tuesday and Friday being the best

sessions with gains being those of 2.3 per cent and 1.4 per cent respectively.

A total of 71,309 shares changed hands which were dealt over 31 transactions.

Likewise, FIMBank plc shares managed to snap back last week’s losses by

registering a gain of 0.7 per cent in the mid-week session to end the week at

$0.75. On the contrary, Bank of Valletta

plc extended their negative position for the second consecutive week, as

its share price slid by 0.9 per cent after trading at an intra-week low of EUR2.112.

The share price of BOV commenced the week on a relatively negative note as it

declined by 2.3 per cent. However, it than managed to partially offset the losses

in the last two sessions of the week to close at EUR2.15. During the week the

equity was the most traded as total trading volume amounted to 88,144 shares.

Middlesea

Insurance plc surrendered 1.4 per cent from the sharp

gains recorded in the previous week to end the week at the EUR0.70 price level.

The financial equity was active in the first session of the week were it

registered the said loss over a meagre of 100 shares. Meanwhile, following last

week’s gain Lombard Bank plc closed

the week flat at EUR2.53. The equity was active over two sessions in which

51,009 shares changed ownership across seven trades.

On a negative note, Maltapost plc upheld its recent downward trend as its share price

lurched downwards by a further 2.3 per cent or EUR0.02. The postal equity was

active over low volumes of 634 shares in the mid-week session to close at the EUR0.91

price level, thus down by nine per cent year-to-date. Similarly, Go plc was unable to buoy last week’s

considerable gain by capturing a loss of 1.4 per cent, thus heading back to the

lower price levels of EUR0.838. On Thursday, the company announced that the

Board of Directors is scheduled to meet on Friday March 16, 2012, to consider

and approve the Company’s financial statements for the year ended December 31,

2012.

From the aviation industry, Malta International Airport plc headed

southwards as its share price sagged lower by 0.6 per cent on Monday to end the

week at EUR1.69. On Monday, the company announced its traffic results for the

month of February were it stated that passenger movements reached 169,689, down

by three per cent when compared with the same month in 2011. Furthermore, an

interesting insight from the published report was that the German and the United

Arab Emirates markets grew remarkably in February by 34.6 per cent and 18.6 per

cent respectively. 

Following inactivity for the past weeks, Plaza Centres returned to trading on

Monday were its share price depreciated by 2.8 per cent or EUR0.05.  Significant volumes of 72,000 shares were

traded over a single deal to close at EUR1.75. On Thursday the company released

its financial statements for the year ending December 31, 2011, were profit

before tax increased slightly by 0.3 per cent. In addition, the board of

directors is proposing for the approval of shareholders, the payment of a final

net dividend of EUR0.0754 net per share at the forthcoming Annual General

Meeting to be held on the May 24, 2012.

Finally, the other non-mover for the week was

Simonds Farsons Cisk plc which

traded flat at EUR1.72 over low volumes of 334 shares which were dealt in a

single session.  

     

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]