Malta Government Stock continue to appreciate in positive territory

After three weeks of negative performance, the Malta Stock Exchange index gained 0.25 per cent, to close at 2,948.241 points, as five equities closed in positive territory , three in negative territory and two unchanged. It is worth noting that it has been nine weeks since so many equities registered a positive performance. On the other hand Malta Government Stocks continued to appreciate as thirteen out of the seventeen traded stocks appreciated in value.

The MSE Index had a mixed week, with not much happening from Monday to Wednesday. However on Thursday the index decreased by 0.409 per cent but recovered yesterday by gaining 0.549 per cent.

A total of 176 deals were registered over the week with a turnover of over €19.71 million. In the equity market 64 transactions were executed for a total value of €161,771, while in the corporate bond market 54 transactions were registered for a value traded of €293,733. A total of 49 transactions were registered in the government bond market for a value of over €15.68 million. In the treasury bills market a total of nine transactions were registered for a total value of over €3.57 million.

Bank of Valletta plc was the only equity to trade through out the week. The equity followed the same trend as the MSE index increased on three trading days and decreasing on the other two sessions. The equity gained 0.34 per cent on the week, closing at €2.659, a rise of €0.009, as 25,516 shares were exchanged across 22 deals. The equity traded at a high of €2.659 and a low of €2.59. BOV registered a rise of 2.66 per cent yesterday as trading was coming to a close, which helped the MSE index to stay up on the week.

HSBC Bank Malta plc was the best performer from the banking sector, appreciating by a just 0.38 per cent. HSBC closed at €2.61, an increase of €0.01, after trading 13,440 shares over 13 deals. The price of the equity increased only on Tuesday, but closed unchanged on Monday, Wednesday and Thursday.

FIMBank plc lost $0.01 this week, as the equity traded only on Tuesday. The closing price for the week was $1.17, a decrease of 0.85 per cent, with a volume of 1,325 shares changing hands on two deals.

Lombard Bank plc was the only banking equity to remain unchanged this week. Lombard closed at €2.55, with 1,000 shares changing hands on a single deal.

Maltapost plc was the best performer during the trading week. The equity closed at €0.67, a gain of 2.92 per cent, or €0.019, as 2,000 shares changed hands across three deals. Maltapost increased on Monday by 3.69 per cent, but decreased yesterday by 0.74 per cent.

International Hotel Investments recovered a mere €0.01 from the latest run of negative performances. IHI gained 1.25 per cent, closing the week at €0.81, having traded 7,153 shares over five deals.

Malta International Airport plc ended its five week negative run, as it increased by 0.48 per cent on Tuesday. MIA closed the week at €2.101, a rise of €0.01, with 4,618 shares changing hands on two deals.

GO plc ended the week unchanged, although the equity increased by €0.04 yesterday. The closing price for the week was €1.82, as 9,400 shares changed hands over seven deals. The share price of GO traded unchanged on Monday but decreased both on Tuesday and Wednesday.

During the week, GO plc issued three announcements stating that Forgendo Ltd (the joint venture company between GO plc and Emirates International Telecommunications (Malta) Ltd) acquired further shares in Forthnet SA. The total number of shares acquired was 702,244 shares, for a total consideration of €1,292,928.

Simonds Farsons Cisk plc was the worst performer during the week. The equity lost €0.12, closing the week at €1.68, a decrease of 6.67 per cent, with a volume of 6,831 shares changing hands across seven deals. SFC suffered its highest loss yesterday, as it decreased by 4 % (€0.07). It also decreased on Monday by 2.78 % from the previous traded price.

Plaza Centres plc was the other loser from the traded equities closing the week at €1.65, depreciating by €0.049, as 6,000 shares changed hands on two deals.

This article which was compiled by Jesmond Mizzi Financial Services Ltd 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 contact JMFS at 67/3, South Street, Valletta or on telephone 2122 4410 or e-mail jmizzi@jmfs.net.