Following last week’s negative performance, the Malta Stock Exchange Index managed to snap a meagre 0.58 per cent to end the week at 3,108.287 points. This week the index experienced instability in the first three sessions by shifting between positive and negative, while it posted gains on Thursday and Friday of 0.5 per cent and 0.54 per cent respectively.
As opposed to last week’s performance the highly capitalised International Hotels Investments plc emerged to be a key determinant for the broader market, as the equity rallied by 5.3 per cent, pushing the index towards a positive end to the trading week. Total trading volume reached 260,034 shares which were dealt across 133 transactions, while turnover amounted to €383,403 traded over 13 equities with gainers and non-movers tallied to four, while losers amounted to five.
Meanwhile, in the Government Stock Market investors took a dissimilar position from the previous week, as from the 21 active issues 18 edged lower while three traded in positive territory. The worst performer and the best gainer emerged from medium-dated issues, as the 5% MGS 2021 dipped by 1.3 per cent, while the 6.6% MGS 2019 rose by 1.2 per cent. Running yields in the Corporate Bond Market were rather unbalanced as 14 issues closed unchanged, seven gained ground, while eight posted a loss with the 7.5% MIH 2015 heading the list of gainers by snapping a gain of one per cent.
In the equity market, International Hotels Investments plc was the best performer this week and with the registered gain of 5.3 per cent managed to eliminate the loss suffered during the previous week. The equity started off the week on a negative note when it depreciated by 2.6 per cent to reach an intra-week low of €0.74, but regained momentum during three of the remaining sessions and yesterday registering a solid gain of 5.26 per cent to end the week at €0.80. A total of 20,962 shares changed ownership across six trades.
From the banking sector, Bank of Valletta plc shares slipped by 1.2 per cent or €0.029 to end the week at €2.501. The equity was active throughout the whole week as it traded in the green on Monday, while it declined during three of the remaining sessions with yesterday being the worst session as it registered a loss of 1.3 per cent. The equity had the lion’s share of the market as total trading value amounted to €161,139 traded over 47 transactions.
Similarly, FIMBank plc slipped by three per cent over 20,452 shares to close the week at €0.747. In the mid-week session the equity experienced a sharp loss of 9.1 per cent which it then partially cancelled in the following session when it posted a gain of 6.7 per cent as trading volume almost tripled. Meanwhile, the other active banking equity HSBC Bank Malta plc closed unchanged at €2.63 after trading at an intra-week low of €2.629 and an intra-week high of €2.64.
From the Insurance sector, Middlesea Insurance plc gained 0.99 per cent over thin trading of 216 shares across one single session to end the week at €0.92. On Tuesday the company announced that the necessary regulatory approvals in connection with the appointment of Alfredo Munoz Perez as chief executive officer have been obtained from the Malta Financial Services Authority.
Likewise, Simonds Farsons Cisk plc snapped a 0.3 per cent gain to end the week at €1.80. On Wednesday the company announced the group’s unaudited financial statements for the six- month period ending July 31, 2011, where Group turnover reached €36 million, an increase of three per cent over the comparative period last year, while profit after tax increased by 21 per cent to reach €2.6 million. In addition, the company also announced that an interim dividend of €0.0133 was approved by the board of directors which will be paid on October 21 to ordinary shareholders who will be on the register as at the close of business on October 7.
Malta International Airport plc was also present in the list of gainers, as the airport operator share value advanced by 2.6 per cent to end the week at €1.57. On a negative note, RS2 Software plc halted its recent upward trend, as its share value plummeted by 3.3 per cent to close the week €0.58. Similarly, both Crimsonwing plc and Midi plc shares declined in value, as the former posted a loss of two per cent in the mid-week session to end the week at €0.338, while the latter slipped by 1.2 per cent on Thursday to close the week at €0.415.
Meanwhile, the other non-movers on the week were Go plc, Plaza Centres plc and Global Capital plc which maintained their previous closing prices at €1.12, €1.80 and €1.00 respectively.
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.
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