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HSBC shares on a 5.8 per cent rally

The Malta Stock Exchange index registered its second consecutive positive week, closing yesterday’s session at 3,557.173 points in a four-day trading week, resulting in a rise of just below 1.5 per cent on the week. The positive sentiment that reigned last week again prevailed having registered an all-positive week. Turnover in the equity market increased to 476,400 shares during the week over 179 deals, compared to last week’s 304,747 shares on 155 deals, with FIMBank plc shares registering the highest traded volume. A total 12 equities were traded, as Malta International Airport plc remained flat, five closing higher and six losing in value.

In the Corporate Bonds market turnover declined to a value of €492,879 being traded over 73 trades. However, in the Government Stock market, turnover increased to €1.85 million across 42 deals, with approximately 58 per cent traded in the 5% MGS 2021 (I) issue. Meanwhile, no trades were registered in the Treasury Bill market.

HSBC Bank Malta plc shares continued from last week’s rise, and registered a 5.8 per cent hike in its share price, closing at €3.10. This increase has reduced the year to date loss to slightly over four per cent. Trading rose significantly in this equity, reaching 98,608 shares across 49 trades.

Positive sentiment continued in Bank of Valletta plc shares, as the equity gained a further 1.06 per cent yesterday, to close at €3.81, having closed unchanged at €3.77 in the previous sessions. A total of 80 deals of 82,313 shares were executed as turnover fell slightly from the past weeks.

Similarly, FIMBank plc also registered a 1.06 per cent rise in its share price. The equity’s share price closed yesterday’s session at $0.95, a rise of $0.01 on the week, as shares traded amounted to 184,000 across nine deals.

Lombard Bank plc was the only banking equity to suffer losses, as it declined by 0.35 per cent yesterday, to close the week at €2.561, with 14,500 shares changing hands over seven trades.

Malta International Airport plc shares closed flat at €1.65 on two trading session, as 35,919 shares were dealt across 11 transactions. In contrast, the share price of International Hotel Investments plc lost 1.33 per cent to end the week at €0.74 as deals of 20,000 shares were executed on two trades. Similarly Island Hotels Group Holdings plc shares closed the week in the red following a steep loss of 15.7 per cent, mainly arising in a fall of 11 per cent during yesterday’s session. The equity closed at €0.80 level as 3,000 shares changed hands over two deals.

A loss of 1.04 per cent on Tuesday lowered Go plc’s share price to €1.90, having traded at the same level in the following two sessions, with turnover amounted to 6,100 shares across five deals.

Middlesea Insurance plc returned to trading this week, however with negative consequences. In fact, a decline of just shy of 2.4 per cent edged the share price downwards to €1.02, having lost 4.31 per cent on Thursday and then recouping part of the loss in the following session. A total of four trades were registered, consisting of 14,527 shares. Meanwhile, Simonds Farsons Cisk plc gained almost 1.2 per cent this week, with shares traded totalling 12,133 over six deals, to close the week at €1.72.

In the IT Sector, Loqus Holdings plc posted a whopping 11.11 per cent or a mere €0.02 gain as one trade of 300 shares was executed, thus closing at €0.20. Conversely, the share price of RS2 Software plc lost four per cent to end the week at €0.48. A total of 5,000 shares were dealt across three trades.

On Wednesday, Maltapost plc announced that the board of directors will be meeting on Wednesday, January 5, 2011, to consider and approve the company’s financial statements for the year ended September 30, 2010.

We wish all readers of this column a Happy Christmas.

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: 2122 4410, or e-mail [email protected].

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