Index retreats as BOV and HSBC lose ground
MSE
Trading Report for week ending April 13, 2012
Index
retreats as BOV and HSBC lose ground
The Malta Stock
Exchange (MSE) Index retreated from last week’s gains by recording a loss of
0.7 per cent to end the week at 2,927.347 points, thus increasing the year-to-date
loss to 5.4 per cent. The local exchange was closed for trading on Monday in
line with European Markets. The index oscillated from positive to negative with
the mid-week and Friday’s sessions being the most vulnerable as the index
succumbed to selling pressure. The draggers for the week were primarily Bank of Valletta plc and HSBC Bank Malta plc, while the only
gainer was Lombard Bank plc which managed
to snap a marginal gain. Furthermore, the week was characterised by nine
equities closing flat, five traded at lower levels and one appreciated in
value. Turnover in the week amounted to EUR409,727 traded over 278,563 shares
which were executed across 88 transactions.
In the local Government Stocks market, despite lower volumes investors were prepared
to pay more, as from the 18 active stocks 14 closed higher, three edged lower
and one closed unchanged. Turnover in the week amounted to just over EUR17.6m
in which the medium dated 4.3% MGS 2016
was the most active as total trading volume reached the EUR6.1m levels. Meanwhile,
in the Corporate Bonds market running yields were mixed as from the
23 active issues, four gained ground, five traded in negative territory and 14
closed unchanged. The 6.25% International
Hotel Investments 2017-2020 headed the list of losers with a loss of 1.5
per cent.
In the equity market, Bank of Valletta plc re-positioned itself in negative ground as it
wiped out all gains from the previous week to close at EUR2.11. The equity was
active throughout the week as it depreciated in two sessions, gained ground in
one and closed flat in the other. The equity had the lion’s share as total
trading value reached EUR162,473 traded over 44 trades on 76,370 shares. On
Wednesday the company announced its allocations in respect of the latest Notes
Issue were it stated that it received a total of 2,865 applications for a total
value of EUR43.3m. It continued by stating that applications up to and
including EUR25,000 shall receive full allocation, whereas applications in
excess of EUR25,000 shall receive the first EUR25,000 in full and 36.19 per
cent of the remaining amount.
Likewise, HSBC Bank Malta plc failed to sustain last
week’s gain as it recorded a significant loss of 1.6 per cent or EUR0.04 over a
total of 17,416 shares. The equity was active in three sessions were it gained
ground on Tuesday, while it recorded a 1.9 per cent loss in the following
session and closed flat on Thursday to end the week at EUR2.50.
Conversely, Lombard Bank plc emerged as the sole
gainer for the week with a marginal gain of 0.6 per cent on Friday to close at EUR2.465.
Meanwhile, the other active
financial for the week was Middlesea
Insurance plc which closed flat at the EUR0.70 price level, as 3,085 shares
were traded on seven deals.
From the
telecommunications sector, following last week’s sharp loss GO plc shares ended the week flat at EUR0.77
after trading at an intra-week low of EUR0.75. A total of 10,450 changed hands
over five transactions.
Similarly,
from the hoteliers sector both International
Hotels Investments plc and Island
Hotels Group Holdings plc maintained their previous closing prices. The
former traded flat at EUR0.74 over 2,902 shares which were dealt over one session,
while the latter traded at EUR0.85 over a single trade of 1,000 shares.
Meanwhile,
from the beverage sector Simonds Farsons
Cisk plc announced that the Board of Directors shall be meeting on the
April 25, 2012 to consider and approve the financial results for the year ended
January 31, 2012, and consider the declaration of a final dividend to be
recommended to the Annual General Meeting. In the week the equity was active in
two sessions as it traded flat at EUR1.77 over 42,550 shares.
On a
negative side, Grand Harbour Marina plc
shares depreciated by 0.4 per cent over a single trade of 100 shares to end the
week at EUR1.89. Likewise, following weeks of inactivity Santumas Shareholdings plc plummeted by 14.3 per cent on Friday
over low volumes of 550 shares to close at the EUR1.80 prices level. The other
negative performer for the week was Loqus
Holdings plc which declined by a sharp 8.1 per cent over a mere of 100
shares which were dealt across one single trade.
Meanwhile,
the other non-movers for the week were RS2
Software plc, Plaza Centres plc,
Maltapost plc and Medserv plc which all maintained their
previous closing prices.
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]