MSE

Trading Report for week ending May 25 2012

Index

turns postive as 5 equities gain ground

Following last week’s loss the Malta Stock Exchange (MSE) Index managed

to reposition itself on a postive track by recording a minimal gain of 0.4 per

cent to end the week at 2,985.023 points. The index kicked-off the week on a

negative note however it managed to retrace the earlier declines by registering

considerable gains in three sessions to end the week higher.

From the telecommunications sector GO plc maintained its bullish trend

following weeks of volatility, while the significant gains by Midi plc, FIMBank plc and Simonds

Farsons Cisk plc were also key determinants for the registered gains.

Conversely, Lombard Bank plc

extended its bearish momentum by recording further losses, followed by HSBC Bank Malta plc which declined for

the second week in a row.

However, the best performer of the week was Crimsonwing plc which closed the week with a staggering gain of

87.5 per cent or EUR0.14 over 38,000 shares to close at EUR0.30. The remarkable

gain in the share price was brought about following

a company announcement which was released on Thursday, in which the company

stated that it has entered into a Share Purchase Agreement for the acquisition of the

remaining issued share capital of Promentum Holding BV. The Agreement is

conditional on obtaining Crimsonwing PLC shareholder approval. Crimsonwing plc

acquired a 51% controlling stake in Promentum Holdings BV in September 2007

and, subject to shareholder approval, will control the full

100% of the issued share capital.

The week witnessed the trading of 14

equities, in which gainers and non-movers tallied to five, while losers

totalled to four. Total trading value decreased to EUR927,212 dealt over 595,132

shares which were executed over 136 transactions. 

In the local Government stock market, investors’ sentiment diverged

towards lack of conviction, as from the 18 active stocks 14 depreciated in

value, while four managed to post minimal gains. The 4.3% MGS 2016 medium dated issue was the most liquid as total

trading value amounted to just over EUR4.2m which was executed over a single

transaction. Meanwhile, in the Corporate

Bonds total turnover amounted to just over one million traded over 27

stocks. The 6.2% Mizzi Organisation

Finance plc 2016-2019 headed the list of losers with a loss of just below

two per cent.

In the equity market, Lombard Bank plc maintained its sharp

pull back by depreciating by a further 3.4 per cent, thus recording a loss of

5.5 per cent over three weeks. The banking equity was active in the mid-week

session and on Friday declining by 2.1 per cent and 1.3 per cent respectively

to end the week at EUR2.27. A total of 10,225 shares changed hands over eight

transactions.

Likewise, 0.4 per cent was shaved-off HSBC Bank Malta plc share value on

Friday to close the week at the EUR2.49 price level. The equity was active

throughout the week and traded unchanged in four sessions, while it slipped by

the said loss in the last session of the week. Trading volume amounted to

68,990 shares which were dealt across 17 trades.

Meanwhile, Bank of Valletta plc closed the week unchanged at EUR2.08 after

trading at an intra week low of EUR2.05. The equity had the lion’s share of

trading as total turnover amounted to EUR596,250 traded over 62 deals which

consisted of 289,064 shares.

The other active financial, FIMBank plc soared by just below five

per cent or $0.04 on Wednesday, thus recording a 10.4 per cent year to date.

The equity was active in two sessions in which five trades of 61,040 shares

were traded to end the week at $0.85.

Similarly, the postive tone once again governed action among GO plc shares, as the equity climbed

another notch by gaining a further 3.5 per cent to hit a 14 week high, and thus

re-touching the EUR0.88 price level. Meanwhile, on

Friday the company announced that while the Group maintained its overall

client base, it experienced pressure on ARPU levels. Furthermore, mobile also

experienced the impact of lower mobile termination rates, the result of

regulatory intervention during the second half of 2011. These have resulted in

a marginal reduction in overall turnover when compared to Q1 2011. However, it

continued by stating that revenues remained strong across all main product

lines and barring unforeseen circumstances are expected to remain so throughout

the rest of the year.

From the beverage sector, Simonds Farsons Cisk plc managed to

close markedly higher on Friday, as its share value surged by 6.6 per cent or EUR0.12

to close at EUR1.95. Furthermore, Midi

plc put together a solid gain of just below three per cent over a single

session to move back to the EUR0.35 price levels.

On the other hand, RS2 Software plc which plummeted by 5.5

per cent over a single session in which 1,000 shares were traded to end the

week at EUR0.52. Plaza Centres plc

was also on the list of losers as its shares contracted by 2.9 per cent on

Thursday over a single session of 600 shares to close at EUR1.70.

Meanwhile, both International Hotels Investments plc and Malta International Airport plc closed the week unchanged, The

former maintained the EUR0.84 level over a single trade of 5,885 shares, while

the latter closed flat at EUR1.75 after trading at an intra-week low of EUR1.73.

The other non-movers for the week were Santumas Shareholdings plc and Island Hotels Group Holdings plc which

traded flat at EUR1.80 and EUR0.85 respectively.

 

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]