The Malta Stock Exchange index extended its negative run to three consecutive weeks with a drop of 1.36 per cent, the second heaviest fall since the start of the year. Among this week’s losers were the top four companies by capitalisation, along with Malta International Airport plc shares which, contrary to last week, headed the list of fallers. Meanwhile, only three equities managed a gain, led by Maltapost plc shares, which reached an all-time high.
Turnover in the equity market declined significantly to nearly €1.3 million, down from over €3 million traded last week. Bank of Valletta plc shares were again the most traded, followed by HSBC Bank Malta plc and Go plc respectively. Throughout the week, out of the 11 active equities, seven lost ground, three gained while Midi plc traded flat at €0.45.
In the fixed-income market activity declined across the board as a total value of slightly over €3 million was traded, down from €6 milliontraded the previous week. In the Corporate Bonds market 80 deals worth €438,171 were executed, while in the Government Stocks market over €2.5 million nominal was traded across 79 transactions. In the Treasury Bills market two deals of €171,322 were recorded.
MIA shares suffered the steepest loss as the equity nullified last week’s gain, shedding a hefty 5.41 per cent or €0.10 closing yesterday’s session at €1.75. On the week, turnover increased slightly as 39,526 shares were dealt across 18 deals for a total value of €70,933. Yesterday, MIA announced that the board of directors is scheduled to meet on March 17 to consider and approve the company’s Financial Statements for the year ended December 31, 2010. The board shall also consider the declaration and recommendation for the payment of a dividend.
International Hotel Investments plc shares followed the same trend with a 3.1 per cent decline as the equity closed the week at €0.94, after having traded at a weekly high of €0.97. Turnover in the hotels’ operator declined heavily to 11,000 shares dealt across three transactions.
Go plc shares lost further ground with this week’s loss amounting to over two per cent as the equity closed yesterday’s session at €1.859. The equity kicked off the opening two sessions in the red trading at a weekly low of €1.80, retracting some of these losses during the mid-week and final session, these gains however were insufficient to end the week higher.
Out of the financial equities active this week, BOV shares were the worst performers having shed 1.61 per cent or €0.049 as the bank traded between a weekly high of €3.06 and a low of €3, the week’s closing price. Throughout the week the equity was the most liquid with nearly 172,000 shares changing hands over 112 transactions. Following its recent declines, BOV’s share price year-to-date stands at 6.7 per cent in negative territory.
Similarly, HSBC shares also closed in the red with a 0.58 per cent or €0.02 decline. The bank ended three trading days in negative territory, closed flat on Thursday, closing higher only on Tuesday when 107,000 shares were dealt over 12 deals. Across the week, a total of 124,000 shares were traded as turnover totalled €434,680. After close of yesterday’s trading session, the board of directors approved the annual results for the year ended December 31, 2010 which showed an increase in profit before tax of €83.1 million, hence up by 16.7 per cent on the previous year. The board also declared a final gross dividend of €0.07, 7 per share or a net dividend of €0.05, which will be paid on April 21 to shareholders who appear on the bank’s register of shareholders at March 8.
Conversely, Middlesea Insurance plc gained almost one per cent as the equity closed the week at €1.05, after having traded at a weekly high of €1.07. Likewise, Lombard Bank plc shares closed higher by a meagre 0.33 per cent, to end the week at €3.01.
Maltapost plc maintained its positive momentum as the postal operator’s equity reached a new all-time high closing the mid-week session at €1.10, and closing flat thereafter. This week’s gain totals 2.8 per cent or €0.03 as 10,643 shares were dealt over eight deals. Year-to-date the equity is the best performer with a 10 per cent gain.
In the IT Sector, Crimsonwing plc was the only active equity. The company edged minimally lower with a 0.26 per cent loss to close the week at €0.379 on a single deal of 4,000 shares.
Similarly, Plaza Centres plc shed 1.2 per cent as the equity ended yesterday’s session at €1.65 after trading flat at €1.67 during the week’s opening session.
Late yesterday, the Treasury of Malta stated that a total of 6,052 applications and bids having a total value of over €326 million were received in the latest Government Stock issue. The authorised sum on issue of €120 million plus an additional €80 million was allotted as follows: €107.8 million to members of the public and €92 million to financial institutions, thus satisfying in full subscriptions made by members of the public.
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