BOV share price up nine per cent on the week

The Malta Stock Exchange index registered a rise of 3.8 per cent this week, closing the week at 3,242.532 points. The index saw high gains of 3.034 per cent and 1.846 per cent on Monday and Tuesday respectively, while losing some of these gains on the following two trading sessions. The index's year-to-date performance has entered into positive territory, with a rise of 1.07 per cent. Twelve equities were traded this week, with seven closing in positive territory, one remaining unchanged, and four closing in negative territory.

A total of 450 deals were registered over the week with a turnover of over €10.44 million. In the equity market 315 deals were executed for a total value of €979,350, more than double the value traded last week. In the government bond market, 53 transactions were registered for a value traded of over €6 million, while a total of 76 deals were registered in the corporate bond market for a value of €770,729. In the Treasury bills market, a total of six transactions were registered for a total value of over €2.68 million.

Bank of Valletta plc registered a staggering increase of 9.02 per cent, following last week's announcement of increased profits. After two consecutive sessions of gains amounting to 6.44 per cent and 6.92 per cent registered on Monday and Tuesday respectively, the equity registered three consecutive days of losses of 1.66 per cent, 1.61 per cent and one per cent on yesterday due to shares trading ex-div. The equity registered the most trades this week, as 107,490 shares changed hands over 131 deals, for a total value of €412,464, having closed the week at €3.76, an increase of €0.311. BOV's year-to-date performance has now increased to an impressive 30.03 per cent, as the equity traded at a low of €3.605 and a high of €3.95 on the week.

The share price of Lombard Bank plc registered a rise of six per cent, as 19,776 shares changed hands on 15 transactions. The closing share price for the week was €2.65, a rise of €0.15. Yesterday's decline of 1.85 per cent negatively affected some of the gains registered on Monday and Wednesday.

HSBC Bank Malta plc registered gains of €0.101, closing the week at €2.85, therefore edging 3.67 per cent higher on the week. HSBC decreased only on Thursday, with a decline of 3.42 per cent, although having increased on three other trading sessions. The equity registered 80 deals of 104,582 shares spread evenly throughout the week.

FIMBank plc was the only banking equity to remain unchanged this week, closing at $1.14, with 64,901 shares changing hands across 12 deals.

Malta International Airport plc registered an increase only on Monday, with a rise of 4.71 per cent, having remained unchanged on other trading sessions. The equity closed the week at €2.20, thus increasing by €0.099 on the week as 24,200 shares changed hands on 16 transactions.

Crimsonwing plc registered a massive downturn of 25.45 per cent, closing at €0.29, as 20,000 shares changed hands across two deals.

Middlesea Insurance plc lost an overwhelming 21.88 per cent this week, with 5,502 shares changing hands over 11 deals. MSI's year-to-date loss is now just under 51 per cent, closing the week at €1.25, a decline of €0.35. The company announced that it will be holding an extraordinary general meeting in order to propose an increase in the authorised and issued share capital of the company.

Island Hotels Group Holdings plc saw a rise of one per cent in its share price, having closed the week at €1.01, as only 500 shares changed hands on a single deal.

Go plc share price ended the week on another positive note as yesterday's price reached a high of €1.66 an increase of 1.84 per cent over the previous week, for a total of 33,850 shares across 20 trades. Go plc registered an increase in price on Tuesday and yesterday, with the remaining trading days ending the sessions unchanged.

Meanwhile Medserv registered a marginal loss of 0.03 per cent, having closed the week at €3.998, as 750 shares were traded across one single deal.

Maltapost plc closed the week in decline of almost eight per cent, with 31,799 shares changing hands over 12 transactions, with the price standing at €0.60. The biggest loss was registered on Wednesday, when the price fell by 6.92 per cent.

International Hotel Investments plc saw a rise in its share price, having closed the week at €0.85, an increase of 3.66 per cent over the previous week. A total of 24,830 shares changed hands across 14 deals.

Next Monday, application for the Malta Government Stock will open to the public. In total €80 million MGS, are being offered and made available in any combination of the following issues: i) 3.6% MGS 2013 (IV) F.I. at €100.75 with a YTM of 3.393%; (ii) 4.6% MGS 2020 (II) at €100 and (iii) Floating Rate MGS 2015 (V) Linked to the six-month Euribor. The issue is subject to an over-allotment option of €20 million.

This article, which was compiled by Jesmond Mizzi, managing director of 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 contact JMFS at 67/3, South Street, Valletta or on Tel: 2122 4410 or e-mail jmizzi@jmfs.net.