The Malta Stock Exchange Index failed to keep up to the upbeat enjoyed last week as it closed this week at 3,835.206 points, down by 0.89 per cent. The majority of the traded equities closed lower with Plaza Centres plc leading the way, followed by two financial equities, while Malta International Airport plc shares were the top performers following the announcement of positive traffic results for last year.
The equity market started off the week on the upside following a positive performance by HSBC Bank Malta plc shares, while it closed lower in the subsequent three sessions. Yesterday, the index returned in positive territory. However, the gain was not enough to lift the local stock market for a second positive trading week. Trading value in the equity market declined heavily from €1.7million traded last week, to €965,891 as 500,713 shares were traded across 208 transactions.
Meanwhile activity in the fixed-income market surged across the board. In fact in the Government Stocks market turnover reached €4.2million, up from €1.4million traded last week. Activity was spread over 16 issues with the 7.5% MGS 2011 taking the lion’s share as over €2million changed hands over two deals. Current yields on local Government Stocks increased further as the majority of the traded bonds dropped in value. In the Corporate Bonds market activity increased slightly as a value of €622,236 was traded over 81 deals. Two trades of nearly €1.2million were traded in the Treasury Bill market.
Plaza Centres plc was the week’s heaviest faller with a steep loss of 11.24 per cent or €0.19 as it finished the week at €1.50 on a mere three deals of 4,000 shares.
Middlesea Insurance plc shares also closed on a negative note as the insurance firm’s equity failed to keep up to last week’s positive momentum. Throughout the week the equity lost 4.57 per cent or €0.048 as 5,205 shares changed hands over five transactions as the equity’s price hovered between a weekly high of €1.05 and a low of €1.002, the week’s closing price.
Similarly, HSBC Bank Malta plc share price shed 2.71 per cent or €0.095 as over 66,000 shares were traded over 50 deals. Turnover in the equity plunged significantly to €226,201, from over €719,000 traded last week. The bank’s equity traded higher during the opening and closing sessions of the week to close at €3.405. The equity’s performance since the beginning of the year stands at 4.61 per cent in positive territory.
Likewise, Bank of Valletta plc shares failed to move higher as its share price dropped by 0.48 per cent or €0.015 to finish the week at €3.135. BOV shares kicked off the week on a negative note while it moved higher on Tuesday, traded flat mid-week and ending the final sessions of the week in the red. Liquidity in this equity was the second highest this week as 107,371 shares were traded over 105 transactions.
Meanwhile, FIMBank plc shares managed to move against the trend in the financial sector as the equity posted a 2.17 per cent or $0.02 gain to $0.94. However there was only one deal of 2,000 shares backing this gain.
Malta International Airport plc shares were the week’s top performers having gained 4.79 per cent or €0.08 to end the trading week at €1.75. The share price of the airport operator started the week flat while it gained nearly two per cent on Tuesday over a surge in activity. It closed flat in the two sessions that followed while gained just under three per cent during yesterday’s session. On Wednesday, the company announced its traffic results for 2010, which showed an increase of 12.8 per cent in passenger movements when compared to the previous year. Both aircraft movements and seat capacity increased over 2009 by 10 per cent and 10.6 per cent respectively. MIA announced that the main markets for the last year were the UK, Italy and Germany.
Meanwhile in the IT Sector, RS2 Software plc shares shed further ground following last week’s 4.17 per cent decline. Two deals of 600 shares worth a mere €270 were executed as the equity closed the week at €0.45.
Maltapost plc finished the week at €1 as it traded unchanged during the week’s opening and closing sessions. The equity was the most active equity for the week as over 209,000 shares were dealt across 11 deals.
Following last week’s hefty gain International Hotel Investments plc shares were only active during yesterday’s session as the hotels operator closed unchanged at €0.98. A total of 13,554 shares were traded over three deals as the price fluctuated between €0.95 and €0.98.
Go plc also managed to close flat at €1.94 having recovered from a weekly low of €1.90. The equity was active during two trading days as 13 deals of 40,950 shares worth €78,343 shares were executed.
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