The Malta Stock Exchange index closed the week slightly lower to bring its tally of negative week-on-week performances to three. In fact the local index finished yesterday’s session at 3,374.218 points hence down by a mere 0.1 per cent on the week. Throughout the week the MSE was active during four trading days, due to a public holiday on Tuesday, over which 11 equities were traded.
Notwithstanding the decline in activity both in the equity market and the Government Stock market, turnover increased to €7.3 million given the €1.4 million traded in the Treasury Bills market and an increase in activity in the Corporate Bond market. Actually investors opted for the riskier side of the fixed-income market as €422,509 was traded, up from €338,437 traded last week.
Activity was spread over 26 bonds, the majority of which saw yields climbing higher while another eight issues recorded higher prices. Bonds issued by member companies of the Corinthia Group were the week’s top performers with the 6.25 per cent International Hotel Investments plc 20172020 topping the list with a hefty 8.7 per cent gain while the 6.25 per cent Corinthia Finance plc 2016-2019 followed with a 7.5 per cent gain. On the downside the 6.6 per cent Eden Finance plc 2017-2020 was the heaviest faller having posted a three per cent price decline.
Meanwhile in the equity market three equities gained, led by Middlesea Insurance plc, four closed unchanged and another four closed the week on a negative note. Turnover totalled €534,151 as 85 deals of 386,790 shares were executed. Turnover in Bank of Valletta plc was again the highest while HSBC Bank Malta plc and FIMBank plc shares followed. On the downside Lombard Bank plc shares headed the list of losers with a significant three per cent decline.
Middlesea Insurance plc shares finished the week up by just over one per cent as the insurance firm finished the week at €1. However, trading volume was rather weak as one deal of 460 shares was executed during the week’s opening session. Since the beginning of the year the equity returned a negative of 1.48 per cent.
On the same day the share price of Lombard Bank plc tumbled by 3.04 per cent or €0.089. In fact one transaction of 1,000 shares pushed the equity’s price to €2.84. The equity’s performance since the beginning of the year has now been thinned to 1.43 per cent. On Wednesday the bank announced that the board of directors will be meeting on Tuesday, August 23, 2011 to consider and approve the group’s and the bank’s Financial Statements for the six months ended June 30, 2011.
In the banking sector HSBC Bank Malta plc emerged as the only gainer, rising 0.68 per cent or €0.02 to finish the short week at €2.97 after having traded at a weekly low of €2.939. Turnover in this equity surged over the week as nearly €101,000 was traded up from a mere €8,000 traded during the previous week. A total of 34,165 shares were dealt across 22 transactions.
The negative momentum which lately surrounded Bank of Valletta plc shares came to an end as the bank’s share price closed unchanged at €2.74, after having traded at a low of €2.739 and a high of €2.76. Throughout the week €244,564 were dealt across 36 deals of 89,242 shares. Year-to-date the bank is among the worst performers with a staggering 14.8 per cent decline.
FIMBank plc traded sideways at $0.80, last week’s closing price as trading volume jumped to 171,580 shares. In fact two deals worth almost $94,000 were executed on Thursday.
International Hotel Investments plc shares failed to live up to the upbeat enjoyed last week following a 1.2 per cent or €0.01 decline. However, liquidity in the shares of the hotels operator remained skewed to the downside as one deal of 1,551 shares was executed.
Likewise, Go plc shed a mere 0.65 per cent to finish the week at €1.37. Turnover in the telecoms company fell sharply to €11,571 from nearly €180,000 traded last week. During the company’s AGM held on Wednesday the company approved all resolutions on the agenda. The net dividend of €0.05 declared by the company will be paid today to all shareholders who appeared on the Company’s shareholders’ register as at Monday May 9, 2011.
Malta International Airport plc closed again in the green with a slight gain of 0.58 per cent or €0.01 to finish the week at €1.74 after having traded at a weekly low of €1.71. Trading volume reached 15,800 shares which were dealt across six transactions.
Meanwhile Maltapost plc shares traded flat at €1.02 as six deals of 37,012 shares were executed while all three transactions in RS2 Software plc were executed at €0.499. Conversely Midi plc shares edged minimally lower with a 0.9 per cent decline as one deal of 1,000 shares was recorded.
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