The MSE index failed to sustain last week’s gain by posting a minimal loss of 0.1 per cent to end the week at 3,105.699 points. Negativity prevailed this week as out of five sessions the index registered losses in three, while it gained ground in two. Highly capitalised equities were once again in the limelight, as the negative performances by Bank of Valletta plc, GO plc and International Hotels Investments plc emerged to be a drag towards the broader market, and thus to the index negative close. Total trading volume increased to 296,587 shares which were executed across 119 transactions, while turnover reached €469,231 traded over nine equities, of which six recorded losses, two registered gains and the other traded unchanged.
Meanwhile, in the Government Stock Market running yields were rather balanced, as from the 18 active issues nine appreciated in value, eight traded at a loss and the other closed flat. The short-dated 5.7 per cent MGS 2012 was the most liquid issue as total trading value amounted to €528,437. In the Corporate Bond Market gainers and losers tallied to seven while non-movers totalled 13. The 5.6 per cent Global Capital plc 2014-2016 headed the list of losers as it declined by 5.6 per cent, while the 6.6 per cent Eden Finance plc 2017-2020 was the best performer as it gained 1.8 per cent.
In the equity market, following last week’s strong performance International Hotels Investments plc shares slipped by a meagre 0.63 per cent to end the session at €0.795. The equity was active in two sessions during the week, in which it traded flat on Tuesday while it registered the said loss yesterday. The hoteliers’ equity had the lion’s share of the market as total trading volume reached 111,416 shares which were traded over 12 transactions. Meanwhile, on Wednesday the company announced that Nagmeddin Hemali Mokhtar has been appointed as a non-executive director replacing Ibrahim Zletni.
From the financial sector Lombard Bank plc emerged to be the worst performer as the banking equity tumbled by 3.3 per cent or €0.089 .The equity kicked-off the week on a negative note when it incurred a loss of 2.2 per cent which it than it recovered in the mid-week session. However, on Thursday the equity plummeted by 3.3 per cent to end the week at € 2.59. A total of 12,590 shares changed hands over nine trades. Similarly, Bank of Valletta plc shares extended their negative performance for the second week in a row when the equity’s share value depreciated by a slight 0.04 per cent on Monday to close the session at €2.50, the price at which the equity closed the week. In the week turnover reached €211,350 which was traded across 63 transactions. On Thursday the Bank announced the date of its forthcoming Annual General Meeting which will be held on Friday, December 16, 2011.
Conversely, HSBC Bank Malta plc snapped a 0.8 per cent gain or €0.02 on Tuesday to end the week at €2.65. Activity was spread across four sessions with total trading volume amounting 22,691 shares which were dealt across 17 transactions. Meanwhile, the other active financial this week was Middlesea Insurance plc which closed the week unchanged at €0.92 over a single session across low volumes of 216 shares. On Thursday evening the company published the response to the mandatory bid issue by Mapfre International to the other shareholders of Middlesea Insurances plc. The company stated that 780 shareholders, equivalent to 3.585 per cent of the total shareholding of the company, accepted the bid and opted to sell their shareholding to Mapfre. The company further announced that as previously indicated Bank of Valletta retained its full shareholding in the company of 31.08 per cent, while following the bid offer the Pubic and Mapfre Internacional S.A. hold 14.36 per cent and 54.56 per cent respectively.
From the telecommunications sector, GO plc dipped by 1.8 per cent to end the week at €1.10. On Monday the equity appreciated by 1.8 per cent which it than reverted on Thursday by posting a loss of 3.5 per cent, while it traded flat yesterday. Likewise, Santumas Shareholdings plc plunged by 9.5 per cent over two deals of 4,349 shares to end the week at €1.90.
Malta International Airport plc snapped a slight loss of 0.06 per cent notching the price down to €1.569. The equity commenced trading on Thursday were it posted a loss of 1.3 per cent, which it than recovered partially in the following session. On Monday the company released its traffic results for the month of September and reported that passenger movement reached 382,389 persons thus an increase of 2.4 per cent compared to the same month in 2010, and thus is the highest number ever registered in September.
Finally on a positive note, following last week’s loss RS2 Software plc managed to recover ground by 1.7 per cent over a single session on Thursday to end the week at €0.59.
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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