The Malta Stock Exchange index fell by 0.35 per cent this week, during which it struggled to maintain its yearly high which it reached last week. The initial two sessions ended in decline as the index registered losses of 0.595 per cent and 0.239 per cent respectively. Some of these losses were retracted on Wednesday and Thursday. However, yesterday more losses were unleashed as the index closed at 3,339.482 points.
Activity over the week fluctuated as trading volume and value commenced at low levels, while soaring during Wednesday and Thursday's sessions, with trading volumes recording their lowest level yesterday. Eleven equities were traded as four closed in positive territory, five ended in the red while the remaining two were unchanged.
A total of 345 deals were registered this week with a turnover of over €17 million. In the equity market 148 deals were executed for a total value of €411,620 while in the corporate bond market 128 transactions were registered for a value traded of €864,084. A total of 62 deals were registered in the government bond market for a value of just under €12.5 million. In the Treasury bills market, a total of six transactions were executed for a total value of over €3.6 million.
HSBC Bank Malta plc was this week's overall best performing equity as it registered a week-on-week gain of 5.23 per cent. HSBC registered four consecutive positive trading sessions from Monday to Thursday, where the equity traded at a low of €3.08 and a high of €3.27, which it registered during Thursday's session. However, yesterday the price depreciated by 0.92 per cent or €0.03c to close the week at €3.22 as just under 39,000 shares were traded over 40 deals.
From the banking sector Bank of Valletta plc was the worst performing equity as the equity lost €0.10c throughout the week. Hence the price now stands at €3.70, 2.63 per cent lower than the last week's closing price. Total transactions in BOV remained high as 46 deals were executed for a total of 34,609 shares. The equity's year-to-date performance remains strong at just under 28 per cent.
Activity in Lombard Bank plc and FIMBank plc remained low for the second week running. The latter was left unchanged for the second consecutive week as the price lingered at €1.11 as only three deals were executed for a total volume of just over 4,000 shares. Lombard traded only during Thursday's session with 800 shares traded over a single deal. The equity registered a slight price decline of 0.68 per cent and now stands at €2.78.
Go plc registered another positive week-on-week result as the equity price soared by 2.58 per cent. The equity traded at a low of €1.90, registered on Monday and a high of €1.99, recorded during the week's closing session. During the first four sessions the equity lost some value on Monday, remained unchanged on Tuesday and Wednesday, while gains were registered on Wednesday. Yesterday the equity registered further gains reaching a new yearly high. Twenty-six transactions were executed as 36,545 shares were traded.
Middlesea Insurance plc ended the week in the red as the equity registered losses during four trading sessions. MSI proved to be the most liquid equity on the MSE during the week as 65,947 shares were traded across 22 deals, with Thursday's session taking the lion's share as nearly 49,000 shares were traded. MSI's share price depreciated during the first three sessions, gained some ground on Thursday, but unleashed further losses yesterday. The equity's price now stands at €0.634.
Maltapost plc and Malta International Airport plc both registered gains as the two equities traded only during one single session. Just over 3,000 shares were traded in MIA on Wednesday on a single deal, which lifted the price by a mere 0.04 per cent to reach €2.40. Maltapost shares traded only yesterday as 2,529 shares were negotiated across two transactions closing at €0.65, having appreciated by 2.36 per cent over the previous week.
Trading in Plaza Centres plc took place on Monday and Wednesday with 10,000 shares traded over two transactions. The equity traded unchanged on the opening sessions while it lost ground in the mid-week sessions as the price plunged to €1.56, hence ending the week in decline by 2.5 per cent.
International Hotel Investments plc lost a hefty 8.54 per cent as 19,316 shares were traded over four transactions. The equity opened the week at a high of €0.80 and closed the week at a low of €0.75. Meanwhile, Island Hotels Group Holdings plc traded unchanged during the week as one single transaction of 500 shares was executed on Monday at €1.02.
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.