The Malta Stock Exchange index climbed to its highest level for the year only yesterday as it soared by 2.44 per cent to reach 3,421.056 points. The index traded during four sessions this week due to a public holiday on Tuesday, all of which ended in positive territory. During the mid-week session the index registered the highest gain of the week of 1.261 per cent while minimal gains were registered across the remaining three sessions. Activity was more or less stable throughout the week with the exception of Wednesday's session as the total volume of shares traded increased by 42 per cent over Monday's session. Twelve equities were traded with eight ending in positive territory, while the remaining four closing in the red.
A total of 260 deals were registered this week with a turnover of over €6 million, down from nearly €17 million last week. In the equity market 141 deals were executed for a total value of €421,993 while in the corporate bond market 92 transactions were registered for a value traded of €646,165. A total of 26 deals were registered in the government bond market for a value of just over €1.05 million. In the Treasury bills market, one single transaction was executed for a total value of over €4.4 million.
Go plc was the most liquid equity on the MSE during the week as 43,549 shares changed hands across 34 transactions. The equity traded during all four trading sessions registering gains on Monday, repealed all the gains on Wednesday, remained unchanged on Thursday and finally registering a gain of just over two per cent during yesterday's session. This resulted in Go's share price reaching a new high for the year as the price now stands at €2.03. The equity's positive year-to-date performance now stands at 15.87 per cent.
Likewise, Bank of Valletta plc appreciated by just over two per cent as nearly 21,000 shares were traded across 30 transactions, having traded in all this week's sessions. The equity kicked off the week in decline, but during the mid-week session recouped all the losses. It traded unchanged on Thursday, while soared by 2.16 per cent yesterday on a weekly minimum of 931 shares. Hence the equity's closing price now stands at €3.78, €0.08 higher over the previous week, and 30.72 per cent up on the year.
HSBC Bank Malta plc was the second most active equity, gaining a mere 0.93 per cent. Out of the three most capitalised equities, HSBC was the only equity to close either in positive or stable territory during the week. In fact, the equity appreciated on Monday and Wednesday by 0.62 per cent and 0.31 per cent respectively to reach a weekly high of €3.259, maintaining a closing price of €3.25 during the last two trading sessions. Similarly to last week nearly 40,000 shares were traded over 32 transactions. This week's positive performance enhances further the equities year-to-date performance which now stands at 20.37 per cent.
Meanwhile, Middlesea Insurance plc for the second week running ended in the red, as trading volume went down by over 32,000 shares over the previous week. Sixteen transactions of 33,820 shares were executed as the price declined by 0.63 per cent, and now stands at €0.63. The equity lost value on Monday, registered gains during the mid-week sessions, while it unleashed some losses on Thursday.
On the contrary Lombard Bank plc retracted last week's negative performance to close this week up by 3.24 per cent to reach a yearly high of €2.87. The equity traded during three sessions all ending in positive territory as a volume of 27,109 shares were negotiated over 17 transactions. The equity's year-to-date loss now hovers around four per cent.
Only three transactions were executed in FIMBank plc and International Hotel Investments plc as similar volumes were traded over the week. The banking equity closed the week in decline having traded only during the week's opening session over which a weekly high of €1.187 was reached. Just over 14,000 shares depreciated the price by 0.9 per cent, as the price now stands at €1.10. Meanwhile IHI registered a hefty gain of 9.33 per cent as just under 14,000 shares propelled the price to €0.82.
Similarly to last week Malta International Airport plc registered only one single deal of 1,300 shares during the mid-week session as the equity lost some ground closing at €2.389. Likewise Simonds Farsons Cisk plc traded only on Thursday as one transaction was executed. The equity lost 1.21 per cent across 1,395 shares and the price now stands at €1.63.
For the sixth consecutive week Maltapost plc ended the week on a positive note as the equity registered a meagre gain of 0.15 per cent. The equity was active only on Thursday as two transactions of 2,000 shares were executed with the equity closing the week at €0.651.
Crimsonwing plc was the best performing equity of the week as a hefty 19.35 per cent was gained over one single transaction. The equity traded only on Wednesday as 4,000 shares lifted the price to €0.37. Similarly another single transaction in Santumas Shareholding plc of 550 shares elevated the price by just over four per cent to reach €2.601.
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.