The Malta Stock Exchange index resumed the negative momentum experienced lately with another week-on-week loss. This week’s decline amounted to 0.23 per cent as the index closed yesterday’s session at 3,856.828 points. Three of the larger equities by capitalisation closed the week in the red headed by Bank of Valletta plc while Malta International Airport plc shares lead the list of gainers with a 5.7 per cent gain on the week.
Notwithstanding the short trading week, due to a public holiday on Thursday, turnover in the equity market increased significantly to over €3 million, up from €1.3 million traded last week. BOV shares took the lion’s share as nearly €1.3 million was traded in the banking equity, while International Hotel Investments plc followed. Out of the 11 active equities, three closed in the red, four gained and another four closed unchanged.
In the fixed-income markets running yields increased further as the majority of the traded issues closed in negative territory. In the Government Stocks market, activity soared to €5.6million as 21 issues were traded across 152 transactions. On Wednesday, the Treasury issued the prices for the new Government Bonds with the 4.25 per cent issue maturing in 2017 priced at €101.25 while the long-dated issue carrying a coupon of 5.25 per cent maturing in 2030 is priced at €101.50. In the Corporate Bonds market 80 transactions of 633,219 nominal were recorded for a total value of €611,240. Two trades of €0.37 million were executed in the Treasury Bill market.
MIA share price managed to erase last week’s decline topping the week’s list of gainers with a 5.71 per cent or €0.10 gain. The equity closed three sessions in positive territory while it ended the mid-week session flat. A total of 22,570 shares were traded throughout the week, the bulk changing hands yesterday when the equity moved over two per cent higher to end the week at €1.85.
Similarly, IHI shares closed in positive territory with a 2.11 per cent or €0.02 gain. The hotels’ operator was the week’s most traded equity as over 981,500 shares changed hands over three trading days, with Monday’s session witnessing most trading. The equity’s price fluctuated between a weekly low of €0.95 and a high of €0.98, while it closed the last session of the week at €0.97.
On the negative side, BOV shares headed the list of losers as the bank posted a 2.6 per cent drop, which worsened the equity’s year-to-date performance, which now stands just over five per cent in the red. The equity’s price plunged on Monday, while it barely changed during the remaining three trading days to close the week at €3.049. Trading volume increased to 423,240 shares, up from 106,370 shares traded last week.
Similarly, HSBC Bank Malta plc share price ended the week in negative territory, closing yesterday’s session at €3.47, hence down by 0.86 per cent or €0.03 on the week. A total of 171,381 shares were traded as the bank kicked off the week flat, gained on Tuesday while it closed in negative territory in the following two trading days.
Meanwhile, Lombard Bank plc traded flat at €3 as three deals of 3,350 shares were executed. Likewise FIMBank plc which was active only during Monday’s session, traded unchanged at $0.95 as 75,000 shares were dealt across two transactions.
Middlesea Insurance plc was the only financial equity to close higher as the insurance firm gained nearly two per cent or €0.02. The equity started the week with a strong five per cent gain trading at a weekly high of €1.07; however the gain was short-lived as a drop of 2.8 per cent was registered on Wednesday to close at €1.04, only to close flat yesterday.
Go plc closed the week just over one per cent lower as the equity closed yesterday’s trading day at €1.899. Activity was spread more or less equally over three trading days as 9,371 shares changed hands over 11 transactions.
Meanwhile Simonds Farsons Cisk plc failed to record a change in price as the equity closed in positive territory on Tuesday and Wednesday, while it returned to the €1.80 level during the week’s closing session. Across the week 3,155 shares were dealt across three transactions.
Maltapost plc shares were again among the top performing equities as the postal operator gained almost two per cent to end the week at €1.07. This gain was posted during the final trading day after ending the previous two trading days unchanged at €1.05. A total of 55,464 shares were traded across seven deals.
Midi plc share price remained intact at €0.45 after having moved slightly to €0.451 intra-week. On the week, trading volume declined by more than half that traded last week as 110,000 shares were negotiated over four transactions. Meanwhile, on Monday Plaza Centres plc announced that the board of directors is scheduled to meet on March 3, 2011 to consider and approve the Company’s Audited Financial statements for the year ended December 31, 2010 and to consider the payment of a final dividend.
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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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