GlobalCapital shares move 12 per cent higher
This four-day trading week was a negative one for the Malta Stock Exchange (MSE) index which ended all sessions in negative territory, even though on a week-on-week basis the decline was only 0.44 per cent. Eleven of the 13 equities on the MSE were...
This four-day trading week was a negative one for the Malta Stock Exchange (MSE) index which ended all sessions in negative territory, even though on a week-on-week basis the decline was only 0.44 per cent. Eleven of the 13 equities on the MSE were active during a week which saw five equities move higher while five others closed in negative terrain.
A total of 177 transactions were executed in equities for a turnover just below Lm429,000 while 59 transactions were performed in local corporate bonds and government stocks for a traded value over Lm6.22 million. Moreover, six deals were executed in Treasury bills for a total value of Lm150,752.
For the second consecutive week, GlobalCapital was the top equity performer.
Following last week's six per cent increase, its share price climbed a further 12.3 per cent to close at Lm2.15, just 5c below this year's initial level of Lm2.20. Activity in the equity was strong during the week with 62,900 shares changing hands across 38 transactions.
Activity was also strong in Maltacom's shares causing the equity's price to rise 2.84 per cent and close at the Lm1.45 level. This was attained on a volume of 58,655 shares traded across 32 deals. Middlesea Insurance was among the positive performers on a weekly basis gaining 2.88 per cent and closing 4c9 higher at Lm1.75 on a low volume of 2,860 shares.
Within the banking sector, HSBC Bank Malta (HSBC) as well as Lombard Bank (Lombard) both posted gains in their share prices. HSBC had 26,888 shares change hands across 30 deals to add 1c or 0.5 per cent and close at the Lm1.90 level. Lombard gained 2c on Monday, 3c on Tuesday and 4c in Thursday's session to close 1.9 per cent up at Lm4.94. Activity was however thin with 9,000 shares being transacted over four deals.
FIMBank was also active. However, it did not register any change in its share price on a week-on-week basis. Even though activity was strong in the equity with over 50,000 shares changing hands, its share price closed at the US$1.90 level, while the weekly high and low prices traded at were US$1.91 and US$1.90 respectively.
On the other hand, Bank of Valletta was the only negative performer in the banking sector, dropping 2.45 per cent to close at its weekly lowest price of Lm3.551. The volume traded stood at 16,690 shares spread across 39 deals.
International Hotel Investments suffered the largest drop during the week closing 4.8 per cent lower. The equity lost €0.02 on Monday's session and another €0.03 on Thursday to close at the €1.00 level, with over 36,500 shares changing hands across 12 transactions. Malta International Airport also closed in the red shedding 1.1 per cent over five mere transactions which saw a total of 4,200 shares transacted. The equity ended the week at Lm1.315.
Elsewhere, Grand Harbour Marina declined by 3.7 per cent to close at 75c9. However, this was only registered on a single deal of 500 shares. Moreover, Simonds Farsons Cisk ended the week 1.1 per cent lower below the Lm1.00 level, at 99c. The traded volume in this latter equity stood at 6,500 shares traded across six deals. On Thursday, Simonds Farsons Cisk held its 60th annual general meeting in which it approved its ordinary resolutions which it had set out, one of which was the payment of Lm500,000 in net dividends, equivalent to a total net dividend of 1c9444 per share.
With regard to the local bond market, seven transactions were executed in corporate bonds for a total of Lm31,201 while 42 transactions were placed in Malta Government Stocks for a total turnover of Lm6.19 million. In particular, an amount of Lm4.4 million was traded in the 7.8 per cent MGS maturing in 2018.
This article, which was compiled by Jesmond Mizzi Financial Services Limited (JMFS), does not intend to give investment advice and the contents therein should not be construed as such. JMFS is licensed to conduct investment services by the MFSA. 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 please contact JFMS at 67/3, South Street, Valletta or on tel: 2122 4410.
jmizzi@jmfs.net