The Malta Stock Exchange index closed the week in positive territory for the second week running this year, edging 1.13 per cent higher on the week. The gains registered in the first two trading sessions of the week were enough to make up for the losses recorded in the three sessions that followed, hence the index now rests at 3,694.170 points. When compared to the previous week value transacted in the equity market was higher, activity in government stocks increased by 90 per cent, while fewer deals were executed in corporate bonds. Similarly to last week, 15 equities were active during the week, nine of which closed higher on the week, two closed unchanged, while the remaining four closed in decline.
Total transactions for the week amounted to 551 deals with a turnover of just under €7.1 million. In the equity market 399 deals were executed for a total value of over €1.3 million while in the corporate bonds market 94 transactions were registered for a value of €933,945. On the other hand 53 transactions in the government bond market totalling €619,911 were executed across 11 securities. In the Treasury bills market, three transactions were traded amounting to over €4.2 million.
Out of the financial equities Bank of Valletta plc headed the list of gainers having gained 5.74 per cent to stand at €3.35 after the equity's price was adjusted on Wednesday to reflect the bonus share issue of one share for every four held. In fact last Wednesday the equity closed unchanged, at €3.28 while gains were recorded across the remaining sessions. During the week a total of 120,522 shares changed hands across 114 deals.
On the contrary HSBC Bank Malta plc failed to keep up with last week's impressive performance as the equity closed 1.35 per cent lower at €3.65, having traded at a high of €4.05. Hefty gains were registered last Monday and Tuesday while the equity lost ground in the remaining sessions. A total of 115 deals of nearly 113,000 shares were executed.
Similarly Middlesea Insurance plc closed the week in the red, down by 22.23 per cent or €0.209 to reach €0.731, after the company announced that the losses incurred by Progress, its Italian subsidiary, in the fourth quarter of 2009 could be higher than forecasted. In fact the equity closed four trading sessions in decline, with the share price trading at the lower limit permitted on the day. A total of 156,856 shares were traded over 61 transactions.
Meanwhile, FIMBank plc was active across all trading sessions, as the equity gained 2.68 per cent on the week, hence reaching $1.15. Investors' preference towards this equity increased as 74,321 shares were traded across 26 deals, up from 1,900 shares traded last week. Conversely, Lombard Bank plc unleashed some losses during the week as the equity gained only on Wednesday, while losses were recorded in the remaining three sessions, as the price now stands at €3.139. For the second week running Global Capital plc closed on a positive note as the price increased by 3.88 per cent to reach €1.50, having traded on the first three sessions.
Go plc maintained its positive stance throughout the week as gains were recorded across four sessions while closing unchanged yesterday. A total of 61,645 shares were active over 41 shares, as the equity now reached €2.26, up by 5.61 on the week.
Meanwhile, International Hotel Investments plc retracted last week's losses as the price now stands at €0.772, edging 2.25 per cent higher on the week. Similarly, Maltapost plc was active during three sessions as the share price gained 2.78 per cent on Thursday with the price closing at €0.74.
Malta International Airport plc was the best performing equity of the week, having gained six per cent, to reach €2.65. A total of 2,300 shares were negotiated across six deals. Simonds Farsons Cisk plc and Plaza Centres plc recorded one transaction each, as the equities' price now stands at €1.72 and €1.65 respectively.
Medserv plc was active for the first time this year yesterday as three deals of 4,700 shares were executed, with the price closing unchanged at €4.25. Similarly, Crimsonwing plc was active only during one session as one transaction of 1,000 shares left the price unchanged at €0.40. Meanwhile, a loss of 0.88 per cent was recorded by Island Hotels Group Holdings plc as 4,000 shares on one deal changed hands with the price closing at €1.01.
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.