The Malta Stock Exchange index opened the first week of trading in 2011 with an all-week negative performance, having closed at 3,694.277 points. The index registered a decline of 2.3 per cent, thus erasing almost all of last week’s gains, with declines ranging between 0.084 per cent and 1.361 per cent.

Negative moves were registered in most active equities. In fact, only two equities gained ground this week, while eight closed in negative territory and Malta International Airport plc remained flat. Turnover in the equity market amounted to 510,709 shares across 205 deals, up from last week’s 367,986 shares over 146 deals, with half of total trading executed in HSBC Bank Malta plc shares.

Turnover in the Government Stock market rose from €716,687 across 56 transactions to €1.36 million over 83 deals, as trading was focused on the 5.25% MGS 2030 (I) issue. Meanwhile, in the Corporate Bonds market turnover also increased, reaching a value of €596,621 traded over 81 trades. A single trade was registered in the Treasury Bill market for a value of €949,818.

Loqus Holdings plc was the worst performer this week, having lost 20 per cent, to close at €0.16, although this drop was only backed by a single trade of a mere 300 shares.

A negative week characterised the financial sector, as all equities traded registered declines. Bank of Valletta plc shares suffered the worst loss as its share price fell by 4.1 per cent, to end the week at €3.70, after last week’s rise of 4.27 per cent. The equity only managed a 0.78 per cent gain on Monday, while registering its heaviest fall of 1.86 per cent yesterday. BOV shares traded at a high of €3.899 and a weekly low corresponding to the closing share price, as 96,394 shares were traded over 91 deals. Shares bought in this equity up to and including yesterday’s session were entitled to the bonus share issue of one share for every five shares held.

Similarly, HSBC Bank Malta plc registered a decrease of just under 1.7 per cent in its share price. This equity registered declines from Monday to Thursday only managing a gain of 1.27 per cent yesterday. HSBC’s share price closed at €3.20, as 255,081 shares changed hands across 57 deals.

Lombard Bank plc shares fell by 0.71 per cent on Wednesday, closing at €2.78, with 1,500 shares traded on a single deal. Likewise, Middlesea Insurance plc shares shed 1.48 per cent, as its share price closed at €1.00. A total of eight deals were registered, consisting of 19,440 shares, as the equity registered declines of 0.59 per cent and 0.89 per cent on Monday and Wednesday respectively, while closing unchanged the following session.

International Hotel Investments plc share price lost ground this week, registering a steep loss of 4.76 per cent on Wednesday, while trading unchanged yesterday. The share price ended the week at €0.90, as nine deals of 53,940 shares were registered.

Meanwhile, Malta International Airport plc shares closed unchanged at €1.66, as 17,391 shares were executed across 10 trades. Island Hotels Group Holdings plc continued last week’s positive streak, as it appreciated by a further 4.21 per cent on Tuesday, closing the week at €0.99, with 5,000 shares being exchanged on two transactions.

In contrast, Simonds Farsons Cisk plc is on its second consecutive weekly loss, as it edged 1.18 per cent lower on Wednesday, closing at €1.68, down €0.02, as 2,333 shares changed hands over two trades.

Go plc was the other equity to gain ground this week, having risen by a marginal €0.005 or 0.26 per cent, as its share price closed at €1.94 as 11 transactions of 15,400 shares were executed.

Maltapost plc shares ended the week at €0.99, down one per cent from last week, having registered no price movements from Tuesday to Thursday. A total of 43,930 shares changed hands on 13 deals.

On Wednesday, the company announced the annual results for the year ended September 30, 2010. Revenue for the financial year rose marginally from €20.1million to €20.4 million. Profit before tax also increased slightly, to reach €3.2million while earnings per share remained static. The board of directors also resolved to recommend the approval of the payment of a final ordinary net dividend of €0.04 per nominal €0.25 share to be paid on February 11, 2011 to shareholders on the company’s register as at January 7, 2011.

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 info@atlasjmfs.com.

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