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]