The Malta Stock Exchange index remained in negative territory as it closed lower for the eight week in a row. In fact, the local index shed 0.48 per cent on the week as it closed yesterday’s session at 3,478.545 points. On the week, total turnover jumped to €7.6 million up from €2.1 million traded last week. The Treasury Bill market was the main contributor to this surge as over €3.3 million was traded over four transactions. The Government Stocks market followed with an increase of €2.3 million to €3.1 million, while the only decline was recorded in Corporate Bonds. Yields in the fixed-income market were higher again this week as the majority of the traded issues closed lower.
In the equity market, 140 deals of 377,139 shares worth €816,450 were recorded with Lombard Bank plc being the most liquid equity also ending the week among the top performers. Throughout the week 10 equities were active as four gained, another four closed lower and two closed flat. Turnover increased to €816,450, up from nearly €540,000 traded last week, as 140 transactions were registered.
All financial equities were active this week as two gained, three closed lower and FIMBank plc shares traded flat at $0.90 as a total of 106,507 shares changed hands across nine deals.
Among the Corporate news this week, Medserv plc announced that the board of directors has approved the audited financial statements for the year ended December 31, 2010. The company registered a profit before tax of €32,287, down from the previous financial year’s profit before tax of €3.18m. The board of directors did not recommend the payment of a dividend.
On Thursday, International Hotel Investments plc announced that the board of directors will be considering the financial statements for the year ended December 31, 2010 on March 30. No trades were recorded in the equity following last week’s hefty 8.5 per cent decline.
Meanwhile, Malta International Airport plc shares headed the list of gainers as the equity posted a 1.73 per cent gain to finish the week at €1.76. The equity was active on three trading days as almost 13,000 shares were traded across eight transactions. This appreciation in price followed last week’s announcement that revenue of the group for the year increased by 10.5 per cent to €51.34 million, while profit before tax stood at €16.97million, an increase of 20.1 per cent.
Global Capital plc closed the week on the downside following a sharp decline of over 33 per cent. The equity’s price tumbled on Thursday to €0.998 over six deals of 2,980 shares while it edged minimally higher yesterday to finish the week at €1. A mere 3,700 shares dealt across seven deals caused this sharp decline. The company announced that the board will be meeting on 20 April to approve their financial results.
In the financial sector, Lombard Bank plc emerged as the top performer as the bank closed the week 1.66 per cent higher with a €0.05 gain. The equity was also the most traded as 160,679 shares were dealt over 43 transactions. Throughout the week the bank traded at a weekly low of €3.01 and reached a high of €3.075 on Thursday, the last day of entitlement to the net dividend of €0.07475, while ending the week’s closing session at €3.06.
HSBC Bank Malta plc shares followed with a 1.07 per cent or €0.031 gain as the equity closed the week at €2.92. HSBC kicked off the week on a negative note, which it swiftly recouped on Tuesday. The equity closed unchanged the following two trading days while it closed higher yesterday. Over 24,000 shares were traded across 19 transactions.
Conversely, Bank of Valletta plc shares closed the week southwards with a 0.85 per cent or €0.025 decline. The equity was active across four trading days, ending two sessions higher while closing flat on Tuesday. The loss recorded mid-week was enough to lead the equity to another week-on-week decline. Thirty-two deals of nearly 43,200 shares, worth €126,305 were executed.
Middlesea Insurance plc closed the week with a four per cent drop or a decline of €0.04. In fact, seven deals of 4,500 shares executed during the week’s final session pushed the equity’s price down to €0.96, this despite the positive results announced last week.
Go plc shares were also on the list of fallers as the equity closed the week at €1.55, down by a hefty 6.06 per cent on the week. A total of 15,200 shares were dealt across nine transactions.
Meanwhile, Maltapost plc edged minimally higher with a 0.09 per cent gain. The postal operator was only active during yesterday’s session as three deals of 3,626 shares pushed the equity’s price to €1.101.
Island Hotels Group Holdings plc managed to close unchanged at €0.997 after having traded at a weekly low of €0.97. Trading volume was the lowest for the week as 2,500 shares changed hands across three deals. Since the beginning of the year the equity climbed just under five per cent.
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