The Malta Stock Exchange Index (MSE) closed at 4163.057 points, losing 0.76 per cent on the week and just over 15 per cent on the year. During the week, 13 equities were negotiated, with six equities closing in negative territory, five in positive territory while the rest remained stable. During the week, Grand Harbour Marina plc was the best performer while Bank of Valletta plc lost most ground.
A total of 219 trades were registered on the stock exchange for a turnover of over €13.53 million. In the equity market 134 deals were executed for a value of €585,635, while in the government bond market 53 deals for a total value of over €3.51 million were carried out. In the corporate bond market 12 trades were executed for a total value of €74,546. In the Treasury bills market 20 deals were executed for a total value of over €9.36 million.
In the banking sector, the share price of Bank of Valletta plc continued to lose ground as it fell throughout the whole week. In fact, the equity closed at €4.60, falling €0.27, on a turnover of 31,303 shares traded over 39 deals. On the other hand, the share price of HSBC Bank Malta plc increased by 0.53 per cent, as 59,061 shares changed hands over 46 deals, with a total turnover of €226,370. HSBC closed the week at €3.82, having traded at a high of €3.85. Lombard Bank plc also continued to lose ground this week as its share price fell by 1.69 per cent and closed at €2.90, €0.05 less than last week's closing price, with 4,075 shares changing hands over four deals. FIMBank plc experienced a negative performance as its share price closed the week at US$1.86, decreasing by 1.59 per cent on the week, on a turnover of 3,230 shares traded over three deals.
Crimsonwing plc saw its share price decrease by 3.70 per cent, thus giving up all of last weeks gains. Crimsonwing closed at €0.52 on two deals with a volume of just 2,500 shares. GlobalCapital plc also gave up some of its share price as it fell by 3.85 per cent, closing at €2.50, with 2,000 shares changing hands over two deals. Middlesea Insurance plc closed the week at €3.34, down 2.05 per cent over three deals and a turnover of only 860 shares.
Grand Harbour Marina plc (GHM) was the best performer of the week, as its share price increased by 4.88 per cent to €2.15. GHM traded four times during the week for a total volume of 23,153 shares. The share price of Go plc gained four per cent and closed at €2.60 as 25,772 shares changed hands in 17 deals. Go plc announced that Forgendo Ltd (the joint venture company between Go plc and Emirates International Telecommunications (Malta) Limited) has acquired a further 676,277 shares in Forthnet SA ("Forthnet") in issued share capital, for a total consideration of €2,870,175.78. Simonds Farsons Cisk plc experienced a 1.45 per cent increase in its share price, as it closed the week at €2.80, as 12,510 shares changed hands on four transactions. Malta International Airport plc also registered an increase in its share price as it closed at €3.12, €0.01 higher than last week's price.
In total 8,100 shares changed hands during the week over five deals.
International Hotel Investments plc maintained last week's price, as it closed at €1.05, with 9,523 shares changing hands over three deals. Maltapost plc also registered last week's price, with 3,257 shares changing hands over two deals. Maltapost closed at €0.80.
This week, United Finance plc offered investors in Malta €10 million 6.75 per cent bonds due 2014-2016 having a nominal value of €100 each. The bonds will, unless previously purchased and cancelled, be redeemed at any date between June 30, 2014 and June 30, 2016, as the issuer may determine, on giving not less than 60 days notice. In the event that during the offer period the issuer receives applications for bonds in excess of the first €10 million bonds, the issuer has the option to increase the bonds in issue to an aggregate amount of €12. The closing date for subscription is Thursday or before in the event of over-subscription.
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 JMFS at 67/3, South Street, Valletta, or on Tel: 2122 4410 or e-mail jmizzi@jmfs.net.