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 info@atlasjmfs.com
Following the recent turbulent performance, the local Stock Exchange managed to sustain last week’s gain by recording a further appreciation of 0.2 per cent to end the week at 3,003.327 points, and thus minimising to just below three per cent its year-to-date loss.
The mood throughout the week oscillated from positive to negative with the index trading on an upfront direction in three out of five sessions.
Financials emerged as the main drivers for the week with Middlesea Insurance plc being the best performer from the said sector, while the modest gains by Go plc topped to the index positive close.
Activity in the week was concentrated over 13 equities, in which gainers and losers tallied to four while non-movers amounted to five.
In line with the previous week turnover increased further to €492,912 traded over 384,321 shares, dealt over 114 transactions.
In the local government market turnover decreased slightly to just over €5.7 million traded over 21 issues. In this segment investors’ transmitted impetus, as 14 stocks appreciating in value, four edged lower, while three closed flat. The long-dated 5.25% MGS 2030 was the most liquid issue as a total of 947,000 nominal traded over 12 transactions. Meanwhile in the corporate bonds market yields were mixed, as from the 21 active issues eight gained ground, two closed lower, while 11 closed sideways. The 4.8% Bank of Valletta 2020 issue was the best performer as it gained 1.5 per cent.
In the equity market, from the banking sector HSBC Bank Malta plc maintained its upbeat trend by recording a further gain of 0.4 per cent. The equity was active in four sessions as it appreciated in two, closed lower in one and traded flat yesterday, and thus ending the week at the €2.60 price level. Volumes traded amounted to 24,642 shares, dealt over 19 trades.
Likewise, Lombard Bank plc managed to snap back the minimal loss incurred in the previous week by recording a 0.8 per cent gain to close the week at €2.53.
On the contrary, both Bank of Valletta plc and FIMBank plc headed southwards. The former declined by a minimal 0.5 per cent over considerable volumes of 122,318 shares to end the week at €2.17. The bank was active throughout the week as the share price swayed from positive to negative in the first three sessions, while incurring the said loss in the last two sessions of the week. Similarly, FIMBank’s share price value depreciated by a scant 0.3 per cent on Thursday as a total of 15,000 shares traded over three deals to end the week at $0.745.
From the financial sector, Middlesea Insurance plc was marked as the best performer for the week. Following its recent negative performances, on Thursday the equity surged by 4.4 per cent over a mere of 500 shares to close at €0.71. On Tuesday, the company released its financial results for the year ending December 31, 2011, in which it stated that the total group’s profit before tax amount to €3.1 million compared to the €6.4 million recorded in 2010.
Meanwhile, the company also announced that Martin Galea will be appointed as a non-executive director with effect from February 27, 2012 following the resignation of Michael Sparberg. In addition, it was also noted that Joseph F.X. Zahra notified the company of his intention to relinquish his chairmanship following the annual general meeting scheduled for April 20, 2012.
Meanwhile, the other active financial was Global Capital plc which contracted by 1.1 per cent on Tuesday. A total of 5,000 shares were traded across two transactions to end the week at €0.94.
From the telecommunications sector, Go plc halted its five-week strike of losses by gaining 2.4 per cent over two sessions. The equity was active in two sessions as it traded in positive territory to close the week at the €0.85 price level.
Conversely, from the beverage sector Simonds Farsons Cisk plc shares slid by 1.7 per cent over a single session to re-position itself at €1.71.
Meanwhile, International Hotels Investment plc closed the week unchanged at €0.78. The hotelier’s equity recorded a sharp loss of 3.9 per cent on Thursday and thus emerged as the main dragger for the index. However, on Friday it managed to snap back all losses by registering a four per cent gain.
Furthermore, both Malta International Airport plc and RS2 Software plc closed the week unchanged, with the former closing at €1.70 over 9,403 shares, while the latter kept the €0.55 price level over high volumes of 160,000 shares.
Finally, the other non-movers for the week were Maltapost plc and Island Hotels Group Holdings plc and thus both maintaining their previous closing prices at €0.93 and €0.85 respectively.
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.