The Malta Stock Exchange index returned to positive territory this week following four positive trading sessions and despite a slight drop yesterday as three financial equities registered losses. Positive sentiment returned as the majority of the traded equities gained significant ground with Lombard Bank plc shares heading the pack, and Malta International Airport plc shares again among the top performing equities.
Following a five-day positive run, the MSE index lost 0.282 per cent on yesterday to end the week at 3,876.391 points, a gain of just over one per cent on the week. More than €1.4 million was traded in the equity market as 281 deals of 736,256 shares were executed. More than one third of total trading volume was executed in International Hotel Investments plc shares which saw trading activity increasing to 250,815 shares, up from 13,554 shares traded last week.
Yesterday the Treasury announced the issuance of €120 million in Malta Government Bonds, subject to an over-allotment option of €80 million. The Treasury will be offering to the public two issues: a short dated bond maturing in 2017 carrying a coupon rate of 4.25 per cent and a fundible issue of the existing 5.25 per cent maturing in 2030. Prices for each of the two stocks will be announced by the Treasury on Wednesday, February 9, while applications will be accepted thereafter. Meanwhile, throughout the week over €1 million was traded in the Government Stocks market across 82 deals of 1.02 million nominal, while €1.4million was dealt in the Corporate Bonds market.
Notwithstanding the negative start to the week Lombard Bank plc shares finished the week as the best performers having posted a 7.64 per cent or €0.21 as 15 deals of nearly 30,000 shares were recorded. On Wednesday the bank posted a 5.45 per cent loss as it traded at a weekly low of €2.60 while it closed higher in the following two sessions as it recorded gains of 9.62 per cent and almost four per cent on Thursday and yesterday respectively. In fact, yesterday the equity closed the session at €2.96, up by 5.7 per cent since the beginning of the year.
Simonds Farsons Cisk plc followed with a similar gain of 7.14 per cent or €0.12 as three transactions of 3,811 shares executed during the week’s closing session appreciated the price to €1.80.
The upbeat in the share price experienced by Malta International Airport plc since the announcement of positive passenger traffic results for 2010 last week, was upheld throughout the week under review as the airport operator gained 4.57 per cent or €0.08 to finish the week at €1.83. Just over 106,000 shares were dealt across 30 transactions as the equity gained during the opening three sessions while it closed unchanged on Thursday. On Tuesday MIA’s CEO Julian Jaeger announced that the company is forecasting that the passenger numbers for 2011 will be the same as those in 2010, which reached 3.29 million passengers, a record number for the company.
HSBC Bank Malta plc share price also closed in positive territory as the bank registered a 2.79 per cent gain. A total of 112,644 shares changed hands over 65 deals as the equity’s price hovered between a weekly low of €3.42 and a high of €3.54, while it closed yesterday’s session at €3.50. The equity’s position since the beginning of the year stands at 7.53 per cent in positive territory.
Conversely, Bank of Valletta plc shares headed the list of losers with a 1.12 per cent decline. The equity only managed to move higher on Monday while it traded lower in the remaining sessions to close the week at €3.10. Turnover reached €421,320, the highest for the week, as 134,753 shares were dealt across 103 deals.
IHI shares also closed in the red as the equity shed 1.02 per cent during the week’s opening session while it closed flat thereafter to close the week at €0.97. The equity was the most liquid with over 250,800 shares being traded across 25 deals. Similarly, Go plc closed in negative territory as on Tuesday the equity declined by 0.57 per cent while it traded unchanged during the closing two sessions to end the week at €1.929.
On the other hand, the share price of FIMBank plc closed higher for the second consecutive week with a gain of 3.72 per cent to close the week at $0.975. However, this gain was only backed by 660 shares dealt across two transactions.
Middlesea Insurance plc shares edged minimally higher with a 0.8 per cent gain to finish at €1.01 as nine deals of 10,345 shares were executed. Similarly, Maltapost plc closed the week at an all-time high of €1.01; hence one per cent higher on the week as 37,752 shares were traded over 11 transactions.
The only non-moving equity this week was Island Hotels Group Holdings plc as two deals of 3,000 shares ended the week at €0.998.
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.
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