The Malta Stock Exchange continued to trade in negative territory for the fifth consecutive week in a row by posting a loss of 1.51 per cent to close the week at 3,223.711 points. The sharp loss recorded on Wednesday contributed to this week negative performance, as the index registered a year low. The week was characterised by 11 equities being active, of which losers and gainers tallied at four, while non-movers totalled to three. Total turnover increased to €593,984.42 traded over 178 transactions.
High turnover was registered in the Government Bond Market, as trading value increased to just over €16.6 million traded over 20 issues, of which 15 appreciated in value and five posted losses. Similarly, to last week’s sessions short-dated bonds were the most active issues with the 7.8% MGS 2012 heading the list as turnover reached just over €6.3 million. Meanwhile in the Corporate Bond Market turnover decreased by €94,847 which was traded over a total of 67 transactions with the 7.15% Mediterranean Investments Holdings plc US$ 2015-2017 being the best performer for the week registering a 17.29 per cent gain.
In the Equity Market the banking sector was one of the prime sectors which left an impact on this week’s MSE negative performance, as all three active banks reached new lows for the year.
Bank of Valletta eased lower by 2.26 per cent, as a total of 153,254 shares changed ownership. During the week the bank started-off by snapping a 1.89 per cent loss on Monday, while it posted a minimal gain of 0.04 per cent on the following day. The mid-week session was the worst session, as it reached an intra-week low of €2.55 by registering a loss of 1.57 per cent. In Thursday’s session the equity cancelled the losses incurred in the previous day by gaining 1.57 per cent, which it maintained on Friday to close the week at €2.59.
Similarly, 3.11 per cent was shaved-off HSBC Bank Malta plc share value. A total of 12,617 shares which were executed over 18 transactions pushed the bank share price down to €2.80. The equity traded flat in the first session of the week but recorded a 0.69 per cent loss in the following session. Moreover, Wednesday’s session proved to be the drag on the bank’s share value, as it plunged 2.44 per cent. On Friday the bank announced its half-yearly results for the period ending June 30, 2011. The Group registered a rise of 19.3 per cent in its profit before tax, which reached the €50 million level. The company has also announced a dividend of €0.082 gross per share (€0.053 net of tax).
Lombard Bank plc headed the list of losers, as during Wednesday’s session the bank’s share price contracted sharply by 4.12 per cent to reach a year low of €2.56, while on Friday it posted a minimal gain 0.2 per cent to end the week at €2.565. During the week turnover reached €40,575 as 15,700 shares changed hands over four deals.
International Hotels Investments was the other loser on the week, as the share price of the hotel operator lost ground by 1.22 per cent on Friday to close the week at €0.81. A total of 18,026 shares were traded over five deals.
On the contrary, the best performance for the week came from the beverage sector, as Simonds Farsons Cisk plc put together some solid gains by recording a gain of 5.88 per cent. The equity was active in two sessions during the week, with the appreciation in value occurring on Wednesday to end the week at €1.80. A total value of €11,926 was traded over 6,946 shares which were executed across five transactions.
Furthermore, Malta International Airport share value appreciated by 2.58 per cent, over a total of 10 trades worth €13,553 to close the week at €1.59. On Wednesday the company announced its financial statements for the first six months ending June 30, 2011. The group’s profit before tax increased from €5.64 million to €6.28 million, a rise of 11.4 per cent, while revenue also increased to reach €22.66 million. The company also reported that the directors approved a net interim dividend of €0.03 per share (gross €0.0461538) equivalent to €4,059,000 for payment on all shares settled as at close of business on Monday, August 8, 2011, and payable by not later than September 15, 2011.
Similarly, Midi plc recorded a slight gain of 1.15 per cent on Tuesday over five deals of 18,000 shares.
RS2 Software plc emerged as another gainer on the week by posting a 3.77 per cent or €0.02 gain, over a single session on Friday to end the week at €0.55.Two deals worth €14,885 were traded across a total of 27,500 shares. Meanwhile, Go plc closed the week flat at €1.30 after trading at an intra-week low of €1.24 on Wednesday. The telecommunications operator traded in negative territory in the first three session of the week and than cancelled the losses incurred in the following two sessions. Friday proved to be the winning strike, as the equity was put back on track by re-gaining 3.17 per cent. During the week a total of 36,588 shares were traded which were executed over 23 transactions. Meanwhile, other non-movers for the week were 6pm Holdings and Plaza Centres plc, as the former closed at £0.28 over a single deal of 1,500 shares, while the latter ended the week at €1.80 as 6,500 shares were traded.
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.
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