After six consecutive week-on-week losses, the Malta Stock Exchange index closed the week at 3,395.617, a gain of 1.09 per cent, thus recovering some of the previous losses and reducing the year to date loss to 1.9 per cent. Contrary to last week, turnover increased heavily this week, with increases registered across the different types of securities. Transactions in the Equity market increased by just over double that of last week, while trades in the Corporate Bond market increased by almost four times as much.
Transactions across all traded securities amounted to 452 deals for a total value of over €12.37 million, contrasted with last week's €3.52 million. In the equity market 128 deals were executed for a total value of €370,312, while in the Government Stocks market 92 transactions were registered for a total value of over €5.25 million. In the Corporate Bond market 230 transactions of over 3.66 million nominal were traded, for a total value of €3.26 million. In the Treasury Bills market two deals were recorded for a value of €3.49 million.
HSBC Bank Malta plc was the best performer in the banking sector this week, having gained 2.83 per cent on the week. The closing price for the week was €2.91, a rise of €0.08. Three consecutive gains were registered from Wednesday to yesterday, as the share price registered a weekly low of €2.83 and a weekly high corresponding to this week's closing share price. A total of 28 deals were registered, with 36,625 shares changing hands. These gains come just ahead of the directors' meeting to be held on July 30, for the approval of the group's and the bank's interim accounts for the half-year ending June 30, 2010 and to consider the payment of an interim dividend.
Bank of Valletta plc registered its first week-on-week gain since four weeks. During the week, trading volume increased as 40,284 shares were traded over 40 deals. The equity closed yesterday's session at €3.069, a gain of 0.66 per cent. However, BOV had three negative sessions, reaching a weekly low of €3.00. It was only in yesterday's session that five trades of 5,000 shares turned the equity in positive territory.
Lombard Bank plc traded only during Monday's session with a single trade of 1,032 shares, as the equity registered a decline of €0.015, or 0.52 per cent, closing the week at €2.885. FIMBank plc also traded during one session of the week, in which the equity saw a mere 900 shares being traded across two transactions. The closing share price was $1.05, a gain of $0.01 or 0.96 per cent.
Middlesea Insurance plc returned to trading this week, with an appreciation of just above 9.3 per cent, continuing its positive trend for the last five weeks. Middlesea closed the week at €1.15, an increase of €0.098 to its share price, as 28,410 shares changed hands across 12 deals. The equity which was the best performer this week registered gains of approximately 6.5 per cent and 2.7 per cent on Tuesday and Wednesday, while having remained unchanged on Thursday.
The other gainer for the week was RS2 Software plc as 20,000 shares changed hands on four transactions on Thursday, which resulted in a rise of 5.66 per cent, or €0.03, closing the session at €0.56.
Medserv plc registered a single trade of 1,400 shares yesterday, remaining unchanged at its share price of €4.25. Both International Hotel Investments plc and Simonds Farsons Cisk plc registered trades on Monday and Thursday, to remain unchanged at last week's closing price of €0.80 and €1.80 respectively. The volume traded in IHI reached 16,644 shares over eight deals, while 3,444 shares in SFC changed hands on two deals.
Maltapost plc was the worst performer this week, with a decline of 5.56 per cent in its share price. The equity closed the week at €0.85, a loss of €0.05. A total of seven transactions were executed, as 9,870 shares changed hands. Yesterday, the directors of Maltapost reported that for the period between April 1 to date, there were no material events or transactions which would impact in a significant manner the operational performance of the company.
Malta International Airport plc lost 2.47 per cent on Tuesday to close the week at €1.58, although having remained unchanged in the following two sessions, having registered 16 deals of 24,920 shares. This week the company reported that the board of directors is scheduled to meet on the July 29 to consider and approve the company's interim financial statements for the six months ended June 30, 2010. It is also expected that the board of directors will consider the payment of an interim dividend at that meeting.
A gain of 2.7 per cent on Thursday was not enough for Go plc to end the week in positive territory. In fact, Go closed the week 1.55 per cent lower than last week's closing share price, which was mainly due to a loss of 4.15 per cent on Tuesday. The closing share price was €1.90, a decline of €0.03, with 12,580 shares changing hands on seven deals.
On Monday afternoon Tumas Investments plc announced the allotment policy for the new issue of its 6.2% bond, maturing between 2017 and 2020. The overall demand reached a total of over €42.96 million, around €12.9 million being from preferred applicants and €30.06 million being from the general public.
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.