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Strong recovery for Middlesea shares

The Malta Stock Exchange Index ended the week on a positive note as the index gained 0.27 per cent on the week, hence closing at 3,430.147 points. The index kicked off the week on a positive note as similar gains were registered on Monday and Tuesday. Some losses were recorded on Wednesday and Thursday, while some of these losses were recouped yesterday as a minimal gain of 0.077 per cent was registered. Tuesday's gain of 0.255 per cent saw the index reaching a new high for the year, as activity and trading value in the equity market increased. However, activity declined during the mid-week session, while it gained momentum again on Thursday and Friday. Seventeen equities were traded with 11 ending on a positive note, four closing in the red, and the remaining two closed unchanged.

Total transactions increased to 310 during the week with a turnover of over of €7.8 million, up from €6 million recorded last week. In the equity market 162 deals were executed for a total value of €467,738 while in the corporate bond market 112 transactions were registered as value traded increased to €844,280. Activity in the government bond market increased too as a value of over €5.6 million was traded across 32 transactions. In the treasury bills market, four transactions of €909,105 were executed.

Middlesea Insurance plc was the overall best performing equity of the week having soared by 12.86 per cent or €0.081 over the previous week to reach a weekly high of €0.711. The equity lost some ground on Monday while gains were registered during the other two trading sessions. The insurance company was also the most liquid equity of the week as 38,798 shares were swapped across 27 deals.

Meanwhile, Bank of Valletta plc registered the highest number of trades for the week as 36 transactions of just over 34,000 shares were executed. The equity started the week on a positive note as Monday's session closed at a weekly high of €3.80, which it maintained until Tuesday. The equity ended the following two sessions in the red, while yesterday's gain was enough to make up for the losses and close the week at €3.78, hence unchanged over the week. The company announced that during Wednesday's Annual General Meeting the board of directors approved all the resolutions on the agenda and that a gross final dividend of €0.215 was to be paid on Thursday.

From the banking sector FIMBank plc headed the list of gainers as a gain of 5.45 per cent or $0.06 was registered on Tuesday over one single transaction of 900 deals. Another deal on Wednesday left the equity unchanged to close the week at $1.16. Trading volume went down from nearly 14,000 shares last week to 2,620 shares.

On the other hand the share price of HSBC Bank Malta plc fell to €3.23 as turnover amounted to 28,390 shares over 25 deals. Converse to last week the equity did not register any gains during the week as it traded unchanged during the first three sessions, while some losses were unleashed on Thursday and yesterday.

Lombard Bank plc closed all the sessions either in positive or stable territory during the week as 18,000 shares were exchanged across eight transactions. The equity registered gains of 2.79 per cent on the week to reach €2.95.

Go plc maintained its positive stance as the equity registered a weekly gain of 2.71 per cent or €0.055 as 24 transactions of 30,640 shares were executed. Yesterday the equity reached a new high for the year of €2.085, with the equity's positive year-to-date performance now standing at just over 19 per cent. Likewise Medserv plc closed the week on a positive note as yesterday the equity reached a new all time high, having appreciated by 2.44 per cent or €0.10 on the week with the price now standing at €4.20. Just under 8,400 shares over six deals in Global Capital plc were exchanged during the week, as the equity started the week in decline, while similar gains of 4.55 per cent and 4.35 per cent registered during the closing two sessions. The equity's price now stands at €1.20. Maltapost plc also closed in positive territory as the equity was active on Tuesday and Thursday, as the price climbed by 1.38 per cent and 4.55 per cent respectively.

Meanwhile, Malta International Airport plc and RS2 Software plc closed the week in decline as both equities registered losses during yesterday's session. MIA registered minimal gains on Tuesday, while a decline of 2.08 per cent was registered during the final session with the price closing at €2.35. RS2 lost €0.04 on a negligible 2,100 shares to close at €0.557.

International Hotel Investments plc and Island Hotels Group plc traded only on Thursday's session as the former lost ground over 14,250 shares while the latter traded unchanged on 100 shares. The closing prices for both equities now stand at €0.80 and €1.02 respectively.

For the second week running Crimsonwing plc registered a gain of 5.41 per cent on Monday over 5,000 shares to reach €0.39 which it maintained during the next trading session. Likewise, Simonds Farsons Cisk plc registered a gain of 4.29 per cent on Monday, while trading unchanged during the mid-week session at €1.70.

Plaza Centres plc was active on Thursday's session as 6,000 shares were traded. The equity climbed by 4.49 per cent to reach €1.63. One transaction of 2,940 shares in Datatrak Holdings plc elevated the price to €0.072, hence ending 2.86 per cent higher on the week.

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 [email protected].

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