The Malta Stock Exchange index closed the first week of the month down by a minimal 0.28 per cent as the index fell in the first four days of trading, while regaining some ground yesterday as all equities traded gained or remained unchanged. Out of the 21 listed equities, 15 were active, with six gaining while substantial losses were posted by the majority of the five equities which ended the week down.
Following a string of positive performances in the past weeks Malta International Airport plc shares were this week’s worst performers while Plaza Centres plc shares outperformed the other active equities following a hefty gain during yesterday’s session.
Turnover in the equity market declined to €1.3 million, the majority of which took place in HSBC Bank Malta plc shares. Trading volume also declined slightly as 723,334 shares changed hands over 224 transactions.
The local index kicked off the week with a 0.27 per cent loss and the negative sentiment persisted until Thursday’s session while ending yesterday’s session with a 0.15 per cent gain.
In the fixed-income markets, running yields were higher on the week as the majority of the traded issues closed in negative territory. In the Government Stocks market, over €2.9 million was traded as 140 deals of 2.8 million nominal were executed. Bond investors focused their attention on the 5.25% MGS 2030 as over €1.5 million was traded across 51 deals. Early this week the Treasury announced that trading in this stock will be suspended next Friday due to the new tranche to be issued in the coming weeks. In the Corporate Bonds market, 111 deals of 788,384 nominal were executed for a total value of €797,103.
Following last week’s hefty gain, this week Lombard Bank plc shares emerged as the best performers within the financial sector. The bank’s equity posted a 1.35 per cent or €0.04 gain to end the week at €3. On Tuesday the equity closed flat while it gained ground during the two closing sessions of the week as nearly 49,000 shares were dealt across 12 deals. The bank’s position since the beginning of the year reads 7.14 per cent in positive territory.
Meanwhile, Bank of Valletta plc managed to recover some of its year-to-date negative performance as the equity moved higher by almost one per cent. In fact, BOV shares closed the week at €3.13 after having traded at a weekly low of €3.10. The bank’s equity was the third most liquid for the week as 106,370 shares were dealt over 102 transactions.
MIDI plc, which was active for the first time since its admittance to local stock exchange, was the most traded equity for the week as 225,000 shares changed hands over three deals. The equity was only active during the week’s mid-week session as it traded unchanged at €0.45.
Maltapost plc shares were among the top performers, having gained just under four per cent or €0.04. A total of 71,439 shares were traded over 15 transactions as the equity’s price fluctuated between a weekly low of €1 and a high of €1.05, the week’s closing price. On Monday the company announced that the annual general meeting of the company approved all the resolutions brought forward on the agenda. Among the resolutions was the payment of a net dividend of €0.04 which shareholders can either receive in cash or by the issue of new shares.
Notwithstanding the increase in demand for HSBC Bank Malta plc shares, this failed to record a change in price as it closed the week at €3.50. Actually, the equity closed all five trading days flat while it traded at a weekly low of €3.48 and a high of €3.52. On Wednesday, it was announced that the board of directors is scheduled to meet on Friday, February 18, to consider the group’s and the bank’s final audited accounts for the year ended December 31, 2010 and to consider the declaration of a final dividend.
Meanwhile, Middlesea Insurance edged minimally higher with a one per cent gain as one deal of a mere 202 shares elevated the price to €1.02. Conversely FIMBank plc shares lost 2.56 per cent to end the week at $0.95 as five deals of 40,704 shares were executed.
Malta International Airport plc shares failed to keep up to the upbeat enjoyed in the past few weeks as the airport operator shed 4.37 per cent or €0.08 to close the week at €1.75. Similarly, International Hotel Investments plc shares lost over two per cent in the week’s opening session while it closed flat in the final two sessions.
In the IT sector Loqus Holdings plc gained 7.33 per cent as the equity closed the week at €0.161 on a single trade of 400 shares. Another deal of 400 shares in Crimsonwing plc left the equity’s price intact at €0.38. Yesterday the IT specialist reported that year-to-date revenues to end of the third quarter grew by 25 per cent.
One deal of 3,000 shares in Plaza Centres plc appreciated the price by a staggering 11.33 per cent or €0.17 to close the week at €1.67 while Go plc edged minimally lower with a 0.47 per cent decline to close at €1.92. Likewise, Medserv plc closed at €4.20, down by 1.18 per cent on the week, while Simonds Farsons Cisk plc traded flat at €1.80.
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