The Malta Stock Exchange index closed the week unchanged at 3,573.403 points following five straight weeks of declines. Out of the 21 listed equities only eight were active this week as five closed lower, two gained and FIMBank plc shares closed flat. Activity was dominated by financial equities with turnover in the equity market totalling €747,109. Bank of Valletta plc shares took the lion’s share as almost €475,000 was traded in this equity. RS2 Software plc headed the list of fallers while Malta International Airport plc closed the week as the best performer.

Meanwhile the sell off experienced lately in the Corporate Bonds market took some respite as trading value in this sector declined to just over €544,000 down from almost €866,000 traded last week. A total of 23 bonds were traded as 86 deals of 576,608 nominal were recorded. The 7.15% Mediterranean Investments Holdings plc GBP 2015 – 2017 was the heaviest faller having shed 17 per cent on the week. Meanwhile, in the Governments Stocks market over €2 million was dealt across 86 transactions with the majority of the traded issues closing in the red, hence pushing yields higher.

Following the traffic results announced early in the week, Malta International Airport shares closed the week in positive territory with a 3.75 per cent or €0.065 gain to end the week at €1.80. On Monday, the airport operator announced that passenger movements for the month of February reached nearly 175,000 passengers resulting in an increase of just below 18 per cent over the same month last year. This figure excludes any passengers which passed through MIA in relation to the evacuation flights from Libya. Throughout the week 24,400 shares were dealt across 10 transactions for a total value of €43,641.

Bank of Valletta shares also closed the week on the upside even though the equity kicked off and finished the week on a negative note. The equity recorded a gain on the remaining three trading days, which gains were enough to push the share price higher as the bank traded at a weekly high of €2.97, while it closed the week at €2.969, up by 2.4 per cent or €0.07 on the week. The share price of BOV moved against the trend in the financial sector as none of the other active equities gained in value. BOV shares were the most liquid as over 164,500 shares, up from 136,000 traded last week, were dealt over 53 transactions.

Meanwhile HSBC Bank Malta plc closed the week lower as losses were recorded during three trading sessions while it closed flat mid-week. The bank closed yesterday’s session at €2.90, hence down by over two per cent or €0.06 on the week. Trading volume declined significantly to 24,328 shares dealt across 16 transactions. This decline worsens further the equity’s year-to-date performance which now stands at 10.9 per cent in negative territory.

Lombard Bank edged minimally lower by 0.33 per cent or €0.01 as the equity closed the week at €3. Turnover in the banking equity reached over €40,000 as 13,414 shares were dealt across six deals. On Thursday the bank’s board of directors approved the audited financial statements for the year ended December 31, 2010 which will be brought forward for approval at the forthcoming AGM to be held on April 28, 2011. The group which is composed of Lombard Bank, Redbox Limited and Lombard Asset Managers Limited recorded a net profit after tax of €9.04 million up by 12.1 per cent over the previous year. The board of directors further resolved to recommend that the annual general meeting approves the payment of a final ordinary net dividend of €0.07475 per share payable to shareholders on the company’s register as at March 29.

FIMBank plc shares closed flat at $0.90 after the gains recorded on Tuesday were retracted in the final two trading days. In fact, the bank’s equity gained nearly three per cent early in the week as it traded at a weekly high of $0.925, while it lost 0.11 per cent and 2.6 per cent in the closing sessions. The equity’s year-to-date performance is down by 5.3 per cent.

Meanwhile, Middlesea Insurance plc shares were again on the negative side with a modest 0.2 per cent or €0.002 loss to finish the week at €1. A total of 9,396 shares were traded in the insurance firm over nine deals.

Likewise Go plc closed lower with a 2.26 per cent or €0.04 decline as the equity was the second most traded throughout the week. In fact a value of almost €97,000 was traded over 28 transactions of 55,420 shares. The equity ended the week at €1.73 after closing flat on Monday but ending the following three trading sessions in the red.

RS2 Software plc shares lost 2.75 per cent or €0.011 as one deal of 5,000 shares was executed at €0.389 during yesterday’s ­session.

This article, which was co-mpiled 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.

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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