The Malta Stock Exchange index edged minimally lower this week to close in decline for the third week running to reach 3,590.125 points, having shed 0.16 per cent throughout the week. The local exchange was only active during four sessions this week due to yesterday's public holiday. Although more equities were active, the lack of confidence which started early in February still seems to prevail as trading volume and value remained weak. Of the 13 equities traded, three managed a gain, seven closed in decline, while the remaining three closing the week flat.
The total amount of transactions on the local exchange amounted to 291 as turnover totalled just over €11.4 million. In the equity market, 128 deals were executed for a total value of €435,151 as 243,158 shares changed hands. In the corporate bonds market, transactions increased to 77 for a total value of €378,218. In the government stocks market, over €5.5 million was dealt across 82 transactions, while over €5 million was traded in Treasury bills.
As was the case in recent weeks, MaltaPost plc was heavily traded as over 97,000 shares were dealt on just eight deals. However, the equity failed to keep up last week's positive performance having shed 0.51 per cent on the week with the equity closing Thursday's session at €0.786. Notwithstanding this week's negative performance, the equity is still up by 12.29 per cent year-to-date.
This week's most active equity, Bank of Valletta plc edged slightly lower by 0.03 per cent on the week. Trading volume declined from 128,062 shares last week, to 54,217 shares across 45 deals this week. The bank traded at a weekly high of €3.295, and a weekly low of €3.25, the week's closing price.
For the second week running, HSBC Bank Malta plc closed up by 0.3 per cent, as the equity share price ended the week at €3.31. This week HSBC shares were relatively illiquid as just 2,530 shares changed hands over seven deals. The equity traded unchanged at €3.30 on Monday and Wednesday, managing a gain of €0.01 during the last trading session on one single deal of 100 shares.
All other financial equities active this week followed the downward trend of their larger peers. On the week, Global Capital plc shares registered a loss of 10.29 per cent or €0.195 as four transactions of 1,320 shares were executed during Monday's session to close the week at €1.70. Similarly, Middlesea Insurance plc was active on one trading session, during which the equity share price lost 1.37 per cent to end the week at €0.72. Volume traded remained light, with just three deals of 3,375 shares being executed.
Meanwhile, FIMBank plc was active during the closing two sessions of the week, losing $0.04 on Wednesday and edging slightly lower on Thursday to end the week at $1.139, a loss of 3.47 per cent..
Go plc closed 1.24 per cent down to end the week at €2.239 as trading volume declined to 29,000 shares across 10 deals. Conversely, Malta International Airport plc ended another week in positive territory having closed 2.86 per cent or €0.09 up on the week at €3.24. Over 21,000 shares were dealt across 23 deals as the equity's price fluctuated between €3.19 and €3.26
International Hotel Investments plc closed the week flat at last week's closing price of €0.80 as 6,159 shares were swapped across five deals. Likewise, Island Hotels Group Holdings plc traded unchanged at €1.01 during two trading sessions.
From the IT Sector, Loqus Holdings plc (formerly Datatrak Holdings plc) closed €0.05 up on the week as one deal of 700 shares was executed to end the week at €0.26.
Conversely, two deals in Simonds Farsons Cisk plc reduced the share price by 1.18 per cent to end the short week at €1.68, while one single transaction of 1,000 shares in Santumas Shareholdings plc left the price unchanged at €2.60.
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.