The Malta Stock Exchange index registered its first week-on-week decline in three weeks, closing the week at 3,293.489 points, a loss of 0.67 per cent. Although having closed the week in negative territory, the index registered gains on three consecutive sessions, ranging from 0.054 per cent to 0.304 per cent, with losses of 0.634 per cent and 0.593 per cent being registered on Monday and yesterday respectively. Thirteen equities were traded this week, with five closing in positive territory, three remaining unchanged, and five closing in negative territory.
A total of 322 deals were registered over the week with a turnover of over €3.87 million. In the equity market 195 deals were executed for a total value of €487,816, while in the corporate bond market 89 transactions were registered for a value traded of €688,060. A total of 32 deals were registered in the government bond market for a value of €815,630. In the Treasury bills market, a total of six transactions were registered for a total value of over €1.88 million.
This week was characterised by a drastic fall in the share price of Middlesea Insurance plc which closed the week at €0.70, 44 per cent lower than the previous week closing price. This drop came about following one trade executed yesterday for 100 shares which brought the price down by €0.50 from Tuesday's closing price of €1.20. This occurred as the company was holding an extraordinary general meeting which approved a rights issue of 67 million new ordinary shares, to be issued in the ratio of 2.68 new shares for every one existing share at an offer price of €0.60 per share. In a company announcement prior to the meeting the company stated that the three main shareholders, Bank of Valletta, Mapfre Internacional and Munich Re had given their commitment to subscribe to their proportional entitlement, with the first two agreeing to take any new ordinary shares not taken up by other shareholders.
Datatrak also saw a hefty decline in its share price which fell by 63.16 per cent lower than the previous week. Datatrak's share price stands at a meagre €0.07 as 2,155 shares traded across four deals this week.
Lombard Bank plc registered gains for the third week in a row as it closed the week as the best performing equity from the banking sector. The equity registered a rise of 1.78 per cent, having registered a minimal volume of 4,200 shares as three deals were executed. The closing share price for the week was €2.79 a rise of almost €0.05 when compared to the previous week. Lombard traded only on two sessions, registering gains on Monday while retracing some of the gains on Thursday.
The share price of HSBC Bank Malta plc registered a mere gain of 0.33 per cent, as a nominal volume of 50,253 shares changed hands across 49 deals. Trading volume was very low during the week, with the exception of the mid-week session where almost 22,500 shares were traded. On Thursday's session the equity reached its highest price of €3, which it maintained during yesterday's session. Throughout this week's opening session the equity lost some value, but traded unchanged on three trading sessions.
Bank of Valletta plc for the third week in a row registered the highest number of trades, as 36,730 shares changed hands over 52 deals. During the week the equity traded at a high of €3.84 and a low of €3.80. The latter was the opening and closing price of the equity hence no change in price was recorded.
Contrary to the previous week, FIMBank plc registered a decline in price of nearly $0.05 or 3.93 per cent, as 29,626 nominal were traded across 10 deals. The closing share price for the week stands at $1.10.
Malta International Airport plc was this week's best performer as almost 13,000 equities were traded over 12 deals. MIA registered gains on Tuesday and Wednesday, with the mid-week session taking the lion's share as a hefty gain of €0.104 was registered. The equity retraced some of its previous gains during yesterday's session as the share price stood at €2.35.
Go was this week's second best performer as 36 transactions were executed for a total of 54,919 shares. The equity traded at a low of €1.73 on Monday and a high of €1.82 on Thursday and yesterday. Out of the most actively traded equities, Go was the only equity to conclude the week with no losses in each trading session. The equity closed up 5.81 per cent on the week, thus reverting the year to date performance to a positive 3.88 per cent.
International Hotels Investments and RS2 Software ended the week both in decline as the equities ended the week at €0.80 and €0.60 respectively. IHI traded only during the first two sessions of the week as 11 trades were recorded. Meanwhile, RS2 registered one single trade, over which 1,600 shares changed hands.
GlobalCapital plc, Maltapost plc and Medserv plc traded only once during the week. Out of the three, Maltapost registered the highest volume as 10,236 shares were traded during yesterday's session as the equity registered a slight price increase. Medserv followed at 2,000 nominal, while during the mid-week session GlobalCapital traded a mere 749 shares. Both equities ended the week unchanged.
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.