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Maltapost and BOV only gainers as index falls 0.4%

Following last week’s negative performance the Malta Stock Exchange index stumbled by a further 0.4 per cent to end the week at 3,115.438 points. The tone on the local index turned uneasy, as it settled in the red in three out of five sessions with both HSBC Bank Malta plc and Go plc re-affirming their negative stance.

Trading volume throughout the week decreased to 231,015 shares, while turnover amounted to €403,004. The week witnessed the trading of nine equities in which losers’ outperformed gainers, as six lost ground, two appreciated in value, while the RS2 Software plc traded unchanged.

As opposed to the recent negative sentiment, investors regained some confidence in the Malta Government Bonds market, as from the 17 active issues five gained ground, 11 posted losses and one closed unchanged. The 4.6% MGS 2020 partially cancelled its recent losses as it headed the list of gainers by recording a 1.6 per cent gain.

Meanwhile, high turnover was recorded in the Corporate Bond Market, as total trading value reached just over €1.04 million. Activity was spread across 29 issues, of which seven strengthened in value, 10 incurred a loss while 12 closed flat. The worst performer for the week was the 4% AX Investment 2013 which depreciated by 3.5 per cent.

In the equity market, Lombard Bank plc headed the list of losers among banking equities, as the bank’s share value drifted lower by 1.1 per cent to close the week at €2.70. The equity was active in a single session on Thursday where 1,200 shares changed hands over two transactions.

Likewise, HSBC Bank Malta plc continued to trade in negative zone, as the banking equity slid by 0.8 per cent to end the week at €2.58. During the week the mood swayed from positive to negative, with Tuesday being the worst session for the equity as the share price fell by 1.2 per cent. A total of 35,399 shares changed ownership over 21 transactions.

On a positive note, Bank of Valletta plc managed to snap a minimal gain of 0.4 per cent. The equity was active throughout the whole week as it closed unchanged in two sessions, registered a loss in one, while it traded in positive territory in the other two to close the week at €2.50. The banking equity reconfirmed itself as the most liquid as total trading value reached €208,411 traded over 83,209 shares.

From the postal industry, Maltapost plc soared by 3.2 per cent over a single session on Monday to close at €0.98. On Thursday, the company announced its financial statements for the year ended September 30, 2011 where it stated that profit before tax declined to €3.05 million, thus a decrease of 4.8 per cent. Furthermore, the company announced that it proposed a dividend payment of €0.04 per share.

Conversely, Go plc shares tumbled by a further four per cent to close at €1.00. In the week, a total of 77,207 shares were traded over 31 trades. The equity experienced a torrid week as sellers applied pressure in four out of five sessions following uncertainty on its indirect investment in Greece. In fact, on Tuesday the company affirmed that the shares it holds in Forthnet, an indirect investment, were transferred to the ‘Under Surveillance’ segment on the Athens Stock Exchange.

Malta International Airport plc shares diverged to a differing direction from last week’s position, as the airport operator slumped by 1.2 per cent in the mid-week session to end the week at €1.68. Similarly, from the IT sector Crimsonwing plc plunged by a further 10 per cent on Thursday to close the week at €0.27.

This week, Crimsonwing published its half-yearly financial statements for the six months ending September 30, 2011. During the six months, the Group reported an increase of 9.5 per cent in revenue to €7.7 million, which represents the highest revenue figure for the first half of its financial year. Despite this, pre-tax profit for the period under review was reported at €38,279 compared to the pre-tax profit of €293,272 reported for the same period last year.

Meanwhile, from the beverage sector, Simonds Farsons Cisk plc faltered by 0.5 per cent over a mere 700 shares to close at the €1.80 level.

Meanwhile, RS2 Software plc closed unchanged at €0.59 as on Thursday 3,000 shares were traded across a single transaction.

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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