Following last week’s positive performance, the Malta Stock Exchange failed to sustain its gains, snapping a loss of 3.37 per cent to end the week at 3,159.190 points. The heavy loss recorded on Tuesday emerged to be a drag on the week, as the index contracted sharply by 4.626 per cent to register a record year low of 3,117.717 points.
Activity during the week was characterised by eight equities being traded, of which two posted gains and six edged lower, with highly capitalised equities being at the forefront in experiencing negativity. Total turnover in the equity market amounted to just over €1.05 million which were traded over a total of 448,728 shares.
Meanwhile, high turnover was registered in the Government Bond Market, as total trading value reached just over €21.5 million traded across 20 issues, with the 7.8% MGS 2018 being marked as the best performer for the week, as it gained 1.84 per cent.
The highest value traded this week was registered in the 6.6% MGS 2014, with just over €4.4 million exchanging hands. In addition, running yields in the Corporate Bond Market were rather mixed as, out of the 21 active issues, nine closed higher, four incurred losses and eight traded sideways. The best performer for the week was the 7.5% Mediterranean Investments Holdings plc 2012-2014 which gained 5.88 per cent.
In the equity market, HSBC Bank Malta plc was marked as the worst performer from the banking sector, as the equity tumbled by 4.5 per cent, to close the week at €2.76. On Tuesday, the bank registered its heaviest loss as it dipped by 5.9 per cent, while it regained momentum in the following session by 2.2 per cent.
On Thursday, the equity recorded a minimal loss, while it closed unchanged in the following session. During the week a total of 91,972 shares changed ownership across 29 trades.
Similarly, following last week’s positive performance, Bank of Valletta plc shares retreated its gains, as 2.97 per cent or €0.08 was shaved off its share value, to end the week at €2.61. Tuesday was marked as the worst session of the week, as the banking equity recorded a heavy loss of 8.9 per cent which was partially recovered in the following session by gaining six per cent.
Yesterday, the share price recorded a minimal gain, thus sustaining its positive trend. On Wednesday BOV announced it had received 2,842 applications for a total value of just over €55 million in respect of the 4.8 per cent 2017 bond issue.
Conversely, the other active banking equity, Lombard Bank plc continued to sustain the strong gains registered in the previous week, as its share value appreciated by a minimal 0.33 per cent, after trading at an intra-week high of €2.70, despite closing the week at €2.699. A total of 52,588 shares were executed across eight transactions.
Middlesea Insurance plc was marked as the worst performer of the week, as the financial equity eased 10 per cent lower over thin trading of 406 shares, thus closing the week at €0.90.
Furthermore, for the second consecutive week Go plc shares posted further falls, as the telecommunications operator slipped by 2.25 per cent, to end the week at €1.26.
On Tuesday the equity closed at €1.21, as it slipped by six per cent, while it regained four per cent in the mid-week session, as a total of 2,852 shares changed hands across five transactions.
From the hoteliers industry, International Hotel Investments plc continued to trade in the red as it lost ground by 3.85 per cent, to close the week at €0.75. During the week, turnover reached €16,980 traded across 22,374 shares which were dealt across 11 transactions.
Likewise, Malta International Airport plc traded in negative territory by notching the price down to €1.50, a loss of 6.25 per cent or €0.10. On Tuesday the airport operator fell out of favour as investors sold off the equity, while it traded flat in the following two sessions. Total trading volume amounted to 29,100 shares.
On the contrary, RS2 Software plc was the best performer for the week. The I.T. operator continued to sustain its previous gains, moving higher by 1.82 per cent to end the week at €0.56, registering two trades worth €11,662.
This article, which was compiled 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.
For further information contact Atlas JMFS at 67, Level 3, South Street, Valletta, or on Tel: 2122 4410, or e-mail info@atlasjmfs.com.