As opposed to last week’s minimal loss the Malta Stock Exchange (MSE) managed to trade marginally higher by gaining 0.5 per cent to end the week at 3,120.445 points. The index experienced quite a positive week as it traded in positive territory in three out of five sessions and International Hotel Investments plc (IHI), Lombard Bank plc and Malta International Airport plc proved to be a key source of support.
Volatility was on a high note this week as total trading volume reached 578,406 shares which were executed over 181 trans-actions, while turnover amounted to €888,804. Activity was spread across 14 equities, of which seven appreciated in value, three lost ground and four closed unchanged.
Meanwhile, in the government stock market bond investors’ enthusiasm was dampened, as from the 13 active issues 12 traded in negative territory and one registered minimal gains. Globally shares traded higher and safer bonds traded lower. The long-dated 5.25% MGS 2030 was the most liquid issue as turnover reached €410,581.
In the corporate bond market trading volume amounted to 960,612 nominal, traded over 27 issues with running yields experiencing dissimilar directions, as six gained ground, nine posted losses and 12 closed sideways. The 6.5% IHI 2012-2014 bond headed the list of losers as it recorded a loss of two per cent.
In the equity market, Lombard Bank plc was the best performing banking equity as its share value surged by 5.02 per cent. The banking equity was active in the first four sessions of the week, closing unchanged on Monday and Tuesday but closing lower in the mid-week session. On Thursday the bank closed markedly higher by registering a gain of 5.4 per cent to end the week at €2.72. This despite a total of 3,520 shares changing ownership over five transactions. Likewise, FIMBank plc managed to move in line with its peer, as 0.13 per cent was added to its share value with the equity being active during one session. One deal of 17,944 shares was executed on Thursday. On the contrary, for the third week in a row Bank of Valletta plc shares headed south by recording a loss of two per cent to end the week at €2.45. The bank was active in all five sessions, depreciating in three and posting gains in the remaining sessions. The equity had the lion’s share as total trading value reached €345,474, traded over a total of 140,323 shares.
Similarly, HSBC Bank Malta plc was also on the downside as it slipped by 0.4 per cent across 29 trades worth €60,261 to end the week at €2.64. Meanwhile, the other active financial equity, Middlesea Insurance plc, closed unchanged at €0.92 over two sessions with a total of 5,338 shares being traded.
International Hotel Investments plc shares put together some solid gains by snapping a 3.1 per cent increase to end the week at €0.82. The hoteliers operator was active across three sessions in which it traded flat on Monday, posted a loss in the following session and advanced during the last trading day of the week.
Malta International Airport plc was the top performer for the week, as the airport operator rallied by 5.8 per cent or €0.09 to reach a three-month high of €1.66. Trading volume amounted to 102,920 shares which were dealt across 21 trades.
From the beverage sector Simonds Farsons Cisk plc saw its price increasing by 1.7 per cent to end the week at €1.83. Both RS2 Software plc and Maltapost plc registered some modest gains, as the former appreciated by 1.5 per cent over 12,500 shares to end the week at €0.599, while the postal operator gained 1.1 per cent across 17 trades of 80,955 shares to close the week at €0.99.
On a negative note, Grand Harbour Marina plc slipped by one per cent over 9,400 shares to close the week at €1.95. Meanwhile, Go plc shares closed unchanged at €1.10. On Wednesday the telecommunications equity tumbled by 6.1 per cent to close the session at €1.052, just above its all-time low of €1.05. In the following session the equity partially cancelled the losses incurred by gaining 4.6 per cent. The other non-movers for the week were Plaza Centres plc and Crimsonwing plc, which maintained their previous closing prices at €1.80 and €0.338 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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