MSE

Trading Report for week ending April 27, 2012

Index

up as IHI, BOV and SFC shares register gains

As opposed to the

recent weeks the Malta Stock Exchange (MSE) Index managed to snap back a

significant gain of 1.3 per cent to end the week at 2,960.694 points. The index

showed impetus throughout the week as it recorded gains in the first four

sessions, while it closed the week on a sour note as it declined by 0.219 per

cent on Friday. The main gainer for the week was International Hotels Investments plc which closed markedly higher,

while Bank of Valletta plc halted

its negative momentum by registering a scant gain.

Conversely, GO plc upheld its unstableness as it

swung back in red zone by recording a sharp loss, thus wiping out last week’s

gains. The week witnessed the trading of 10 equities, in which losers’

outperformed gainers, as five declined in value, three managed to trade in

positive territory, while the remaining two closed unchanged. Turnover in the

week amounted to EUR597,392 which was traded over 326,668 shares dealt across a

total of 88 transactions.

In the local Government Stocks market, investors’ maintained a positive approach

towards the local sovereign debt, as from the 23 active stocks 18 closed

higher, while five registered minimal losses. Total turnover in the week

amounted to just over EUR13.1m, which were traded across 154 deals. Meanwhile,

in the Corporate Bonds market

running yields were mixed, as from the 21 active issues, six gained ground,

three depreciated in value and 12 closed unchanged. The 6.2% Mizzi Organisation Finance plc 2016-2019 headed the list of

gainers with a gain of 2.4 per cent.

In

the equity market, International Hotels

Investments plc emerged as the prime gainer for the week as its share price

surged by 10.8 per cent or EUR0.08 to end the week at EUR0.82. The hoteliers’

equity was active in two sessions in which it recorded the said gain on

Tuesday. A total of 44,060 shares changed ownership across 10 trades.  The increase in the share price could have

been triggered by the announcement

made by the company that in line with its strategy to raise new equity it will

soon be conducting road-shows with international institutional investors in

various jurisdictions.

Similarly, Simonds Farsons Cisk plc shares opted for an upbeat trend in the

last two sessions of the week as the equity gained 3.4 per cent. Throughout the

week a total of 6,131 shares were traded over six transactions ending the week

at EUR1.83. On Wednesday, the board of Directors approved the financial statements

for the year ending January 31, 2012. The Company reported that the Group’s

profit before tax amounted to EUR5.08m when comparable to the EUR4.05m recorded

for the year ending January 31, 2011. In addition, the board has resolved to

recommend for the approval of the Annual General Meeting the distribution of a

final net dividend of EUR0.0567 per ordinary share, to be paid by not later

than June 21, 2012.   

From the financial sector, Bank of Valletta plc re-positioned

itself among the gainers for the week as it reversed last week’s loss with a

gain of 0.5 per cent. The equity was active throughout the week as it closed in

positive ground in two sessions, edged lower in one, while it closed flat on

Tuesday to end the week at EUR2.11. The banking equity had the lion’s share as

total trading volume amounted to 186,644 shares which were dealt over 18

transactions. On Friday after close of trading, the company announced its

interim financial statements for the six months ended March 31, 2012. The Group

reported a profit before taxation of EUR49.1m for the first six months when

compared to the pre-tax profits of EUR45.2m in the first six months of the

previous financial year. The Bank also announced that an interim net dividend

of EUR0.039 will be paid on the May 24, 2012 to those members appearing on the

register of shareholders as at close of business on May 10, 2012, that is,

trades undertaken up to and including May 7, 2012.

Conversely, HSBC Bank Malta plc cancelled last week’s gain with a loss of 0.8

per cent to end the week at EUR2.50. A total of 49,763 shares were traded over

four sessions, in which the equity closed lower in two sessions, gained ground

in one, and closed unchanged in the other. The other active financial was Middlesea Insurance plc which

depreciated by 1.4 per cent on Thursday to close at the EUR0.69 price levels.

Activity in the week was spread over three sessions in which 2,976 shares

changed hands over four transactions.

Meanwhile, from the telecommunications sector

GO plc shares retreated back from

last week’s gains, as its share value plummeted by 6.3 per cent or EUR0.05 to

end the week at EUR0.75, thus re-touching a year-to-date loss of 23.5 per cent.

In the week, a total of 16,490 shares were traded over two sessions. Likewise,

just below three per cent was shaved off from Malta International Airport plc share value, as three trades of

1,600 shares pushed its share price to the EUR1.65 price levels. The other

negative performer for the week was 6PM

Holdings plc which plunged by 5.4 per cent over 6,600 shares to end the

week at EUR0.35.

Meanwhile, the non-movers for the week were Maltapost plc and RS2 Software plc. The former maintained its EUR0.96 price level

over a single session of 2,404 shares, while the latter closed flat at EUR0.55

over three trades worth EUR5,472 after trading at an intra-week low of EUR0.54.

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]