The Malta Stock Exchange index upheld its positive momentum across all five trading days this week, bringing its positive tally to nine consecutive sessions. Nearly all active equities closed in positive territory, fuelled by the recent upbeat enjoyed by the two major banks in reaction to the positive annual results announced by Bank of Valletta plc. As a result, the MSE index gained 1.56 per cent on the week.
Notwithstanding the positive week on the local exchange, turnover in the equity market declined slightly, with the two major banks still taking the lion’s share of the total value traded. In fact, a value of €859,095 was traded over 197 transactions dealt across 12 equities seven of which closed higher, four closed flat while one equity ended the week in the red. Meanwhile, turnover in the Corporate Bond market increased to €643,878 as 24 bonds were traded. A negative week was recorded in the Government Stock market, as the majority of the active issues closed in negative territory. Activity in this market also declined heavily to just over €863,000, down from €1.7 million traded last week. In the Treasury Bills market one deal of €2.4 million was executed yesterday.
Middlesea Insurance plc shares were the week’s top performers having gained five per cent over seven deals of 11,291 shares. Throughout the week the Insurance firm’s equity was active on three trading days during which the equity’s price hovered between a low of €1 and a high of €1.05, this week’s closing price. Year-to-date the equity is amongst the best performers with a 30 per cent gain.
HSBC Bank Malta plc shares returned to positive territory with a solid 3.47 per cent gain or €0.10 to end the week at €2.98. On the week trading volume increased to nearly 50,000 shares, the bulk of which changed hands on Monday. Trading opened at last week’s closing price of €2.88, gaining ground throughout the week, and reaching its weekly high of €2.998 on Thursday.
Similarly, Bank of Valletta plc shares closed the week on a positive note as the bank’s equity recorded a gain of just over one per cent, the equivalent of €0.04, to end the week at €3.70. The equity was again the most liquid with over 124,500 shares being traded over 86 transactions.
On the negative side, Lombard Bank plc was the only equity to close the week lower posting a hefty decline of 3.64 per cent or €0.10 on a single deal of 400 shares to end the week at €2.65. Meanwhile, FIMBank plc closed flat at $0.94 as the equity was the second most traded with 111,419 shares being traded across 13 deals.
Malta International Airport plc shares came close to recovering last week’s decline entirely with a three per cent gain to end the week at €1.648. The equity started the week flat at last week’s closing price of €1.60 and only managed to move higher during yesterday’s session when over 17,000 shares were traded.
Likewise, Maltapost plc shares closed the week on a positive note with a weekly gain of 1.87 per cent. The equity was active on two trading days with only two deals of 10,396 shares executed and closing the week at €0.927.
Go plc shares maintained their positive momentum, edging slightly higher to end the week at €1.90. The equity recorded gradual gains during the first four trading days, which totalled 0.8 per cent, while it closed flat yesterday. Almost 30,000 shares were active over 22 transactions.
The share price of Plaza Centres plc gained 1.18 per cent on Monday to close at €1.72 while Loqus Holdings plc traded unchanged at €0.18. Similarly International Hotel Investments plc shares traded flat at €0.77 following last week’s decline of 1.28 per cent. A total of 70,000 shares were traded across six transactions all of which were executed at this week’s closing price. Simonds Farsons Cisk plc was another non-mover ending the week at €1.75 on four deals of 1,723 shares.
In the fixed-income markets investors shifted their attention on Corporate Bonds as turnover increased to €643,878 with 24 bonds being active. The most liquid issue for the week under review was the 6.25% Mediterranean Bank plc 2015 which traded flat at €100.25 as over 88,100 nominal was executed across six transactions.
Meanwhile the best performers were the 6.2%-6.8% International Hotel Investments 2013 and the 7% Midi plc 2016-2018 denominated in euro as both gaining 1.98 per cent.
Conversely there were three bonds on the negative side with the heaviest faller being the 7% Midi plc 2016-2018 denominated in sterling, which lost over two per cent to close the week at £105.
The Government Bonds market witnessed a negative trend as all of the 16 issues active this week closed lower. Among the worst performers were some of the long-dated issues with the 5.1% MGS 2022 heading the list with a decline of just over two per cent to close the week at €107.47.
This article, which was compiled by Atlas JMFS Investment Services Limited, does not intend to give investment advice and the contents therein should not be construed as such. Atlas JMFS is licensed to conduct investment services by the MFSA and is a member firm of the Malta Stock Exchange. The directors or related parties, including the company, and their clients are likely to have an interest in securities mentioned in this article.
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