Large caps halt index positive run
MSE
Trading Report for week ending August 3, 2012
Large
caps halt index positive run
Following four
weeks of gains, the Malta Stock Exchange
(MSE) Index halted its positive run by recording a significant loss of 1.3
per cent to close the week at 3,086.704 points, thus re-positioning itself in
negative territory on a year-to-date basis. The index endured a negative week
as selling pressure emerged in the first four sessions with bigger losses being
recorded on Tuesday and Thursday. The
main dragger of the week was International
Hotels Investments plc which drifted lower by a significant percentage,
followed by FIMBank plc and Malta International Airport plc. On the
contrary, Bank of Valletta plc
prolonged last week’s gains, while two of the three active I.T. equities closed
markedly higher.
The week witnessed
the trading of 12 equities, in which losers outperformed gainers, as eight slid
lower, three pointed higher, while the other traded flat. Turnover in the week
turned higher to EUR721,121 traded over 106 transactions which consisted of
628,536 shares.
In the Government Stock market, as headwinds
from abroad persisted, and in line with German Bunds most of the local
sovereign yields closed lower as investors shifted their assets towards safer
heavens. In fact, from the 19 active stocks 15 appreciated in value, while four
posted minimal losses. Turnover in the week amounted to EUR3.7m, with 35 per
cent of the amount being traded across the long-dated 5.2% MGS 2031.
Meanwhile, in the Corporate Bonds market yields were
mixed, as from the 23 active stocks eight edged higher, four fetched new
losses, while 11 closed unchanged. The 6% AX investments 2014-2016 headed the
list of gainers with a 1.9 per cent appreciation.
In the equity market, the highly
capitalised International Hotels
Investments plc shares stumbled by a heavy 5.9 per cent or EUR0.05 to close
the week at EUR0.80 on low volume. The hoteliers equity was active in three
session in which a total of 20,528 shares changed hands across eight transactions,
thus pushing the equity towards a loss of 5.2 per cent, year-to-date.
Likewise, from the financial sector FIMBank plc upheld its negativity for
the second week in a row by recording a further decline of 2.4 per cent, thus a
loss of 3.5 per cent over two weeks. The equity commenced trading on a flat
note, however it than edged lower in the mid-week session by recording the said
loss to close the week at $0.83. A total of 78,817 shares changed hands across
three transactions.
Similarly, both HSBC Bank Malta plc and Middlesea
Insurance plc closed the week lower. The former brought to a standstill its
recent upbeat trend by shaving 0.5 per cent from its value, this
notwithstanding the positive results announced the previous Friday after close
of trading. The equity was active in the first three sessions as it oscillated
from positive to negative over a total of 48,445 shares to close the week at EUR2.88.
Meanwhile, the latter depreciated by 0.2 per cent in a single session in which
6,750 shares changed hands over three deals to close at EUR0.62.
Conversely, Bank of Valletta plc shares sustained last week’s solid performance
by registering a further 0.5 per cent gain. The banking equity was active
throughout the week as it slipped in the first three sessions by posting a loss
of 2.4 per cent which it than managed to recuperate by striking an appreciation
of 2.8 per cent in the last two sessions of the week to close at EUR2.11. A
total of 52,787 shares were traded over 41 transactions.
From the aviation sector, Malta International Airport plc steered
off 1.8 per cent from its value over three sessions to close the week at the EUR1.739
price level. Meanwhile, on Friday the company announced that it will abide with
last year’s initiative that of giving 100 per cent refund to all scheduled
airlines, on landing fees for the coming winter season, with the main aim to
further stimulates traffic during the winter months.
From the telecommunications sector, GO plc shaved off a further 0.9 per
cent from its value following last week’s 2.8 per cent depreciation. The equity
was active in three sessions, as it closed flat in one, posted a 2.9 per cent
loss in the other, while it snapped back a 1.9 per cent gain on Friday to close
the week at EUR1.04.
Similarly, Plaza Centres plc plunged by 4.8 per cent on Monday to close the
week at EUR0.55. The equity was active over two sessions, in which it recorded
the said loss in one, while it closed unchanged on Thursday. A total of 9,000
shares were traded over two transactions. Meanwhile, on Tuesday the company
announced its financial statements for the first six months of 2012, in which
it reported that profit after tax increased by 7.2 per cent when compared to
the same period in 2011.
From the I.T. sector, both 6PM holdings plc and RS2 Software plc enjoyed a strong week.
The former showed impetus with a staggering 14.3 per cent gain over a single
session to close at £0.32, while the latter was up by a healthy 4.2 per cent to
re-touch the EUR0.50 price level. Traded volume in both equities was relatively
high with RS2 reaching nearly 215,000 shares. On the other hand, Crimsonwing plc plummeted by 19.2 per cent in the last trading
minutes on Friday over 3,800 shares to close the week at EUR0.21.
Meanwhile, the non-mover for the week
was Simonds Farsons Cisk plc which
closed flat at EUR2.00 over 3,267 shares which were executed across two
transactions.
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]