The Malta Stock Exchange index returned to positive territory following an all-positive week, posting a 4.75 per cent gain as it closed the week’s final session at 3,869.771 points. This week’s gain was fuelled by sharp rises in the share price of the top three most highly capitalised equities, with HSBC Bank Malta plc and International Hotel Investments shares leading the pack.
The positive momentum enjoyed since the beginning of the week was spread across various equities as seven closed higher, four closed in negative territory while three closed unchanged. Turnover in the equity market increased heavily with over €1.7 million in value traded across 293 deals of 974,548 shares, up from 510,709 shares traded last week. As is usually the case, trading in the banking sector outpaced all other sectors with IHI shares being the most traded equity.
Turnover in the Government Stocks market more than doubled as over €1.45 million was traded across 1.3 million nominal dealt across 91 transactions. Investors’ attention remained focused on the 5.25% MGS 2030 (I) issue. Meanwhile, in the Corporate Bonds market activity declined slightly to €586,894 as 25 issues were traded. Running yields increased following a week-on-week decline in the majority of the traded corporate bond prices. A single trade was registered in the Treasury bill market for a value of €245,942.
Throughout the week, HSBC shares gained an overwhelming 9.37 per cent or €0.30 as the banking equity closed the week at €3.50. Turnover in the equity reached €719,152, the highest for the week as 85 deals of 208,767 shares were executed. HSBC closed the opening three sessions in the green with gains ranging from 2.2 per cent up to 4.5 per cent while closing the remaining two sessions flat at €3.50.
IHI shares more than recouped last week’s decline extending its gain by 8.89 per cent or €0.08. The equity was the most heavily traded for the week as 320,708 shares were dealt across 24 deals as the it’s price hovered between a low of €0.90 and a high of €0.98, this week’s closing price.
Bank of Valletta plc also ended the week on a positive note having registered a 2.17 per cent or €0.067 gain. On Monday the equity’s price adjusted to reflect the bonus share issue of one share for every five held, hence kicking off the week at €3.083. The bank’s share price closed the first three sessions in the green, reaching a weekly high of €3.20. However, it slipped in negative territory in the last two sessions, to end the week with a two per cent gain at €3.15.
Meanwhile both Lombard Bank plc and FIMBank plc failed to keep up with the upbeat enjoyed in the financial sector. The latter closed 3.16 per cent lower as it ended yesterday’s session at $0.92. Trading volume was the second highest for the week with over 224,246 shares changing hands across 12 deals. Similarly, Lombard Bank plc shares declined further to €2.75, hence losing over one per cent. Activity in the equity remained on the low side as 5,270 shares were traded over seven transactions.
Middlesea Insurance plc share price ended the week five per cent higher as the insurance firm’s equity climbed to €1.05 during this week’s final session. Over the week six deals of 15,251 shares were executed.
Go plc shares ended the week flat at €1.94 as the equity’s price barely fluctuated between a low of €1.93 and a high of €1.94 as 21,700 shares were dealt across 10 transactions. Likewise, Simonds Farsons Cisk plc shares traded unchanged at €1.68 as one deal of 323 shares was recorded during the mid-week session. Another deal in Plaza Centres plc of 7,000 shares left the equity’s price intact at €1.69.
In the IT Sector, Loqus Holdings plc lost further ground following last week’s hefty loss. On Tuesday the equity shed over six per cent as one transaction of 1,212 shares was executed, to close at €0.15. Similarly, RS2 Software plc share price closed in the red with a 4.17 per cent or €0.02 decline as 4,000 shares were traded over three deals.
Conversely, Maltapost plc managed a slight gain of just over one per cent to end the week at €1 moving higher on Monday while trading flat thereafter as 22,232 shares were dealt over 12 deals.
Similarly, Malta International Airport plc closed up by 0.6 per cent ending the week at €1.67. Turnover remained more or less in last week’s territory as a value of just over €30,000 was traded over 10 transactions.
Island Hotels Group Holdings plc also managed to end the week in positive territory with a meagre gain of €0.008 or 0.81 per cent to close at €0.998. On Thursday, the equity plunged by over nine per cent on one deal of 1,000 shares, but recovered swiftly yesterday as it gained nearly 11 per cent on 1,350 shares.
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