The Malta Stock Exchange index surrendered some of the gains recorded in the previous week by recording a loss of 0.9 per cent to end the week at 3,127.594 points. The index endured a torrid week, as it headed southwards in four out of five sessions, with the negative performance by HSBC Bank Malta plc and Go plc being the primary cause for the index’s negative close. Trading volume throughout the week decreased drastically to 246,144 shares with Bank of Valletta plc being the most traded equity. Turnover in the week reached €457,009 which was traded over nine equities, of which gainers and non-movers tallied to two, while losers totalled to five.

Meanwhile, the negative sentiment which lately surrounded the Malta Government Bonds market was this week re-affirmed. In fact all 12 stocks active this week recorded losses, which ranged from a mere 0.16 per cent to two per cent recorded by the 4.6% MGS 2020. This bond once again headed the list of losers as it hampered by a further 2.03 per cent. In the corporate bond market, yields took a divergent approach as from the 23 liquid stocks five appreciated in value, seven edged lower while one closed flat.

In the equity market, HSBC Bank Malta plc laid down the gains it recorded in the previous week as it got hammered by a loss of 3.4 per cent or €0.09 to end the week at €2.60. The bank was active in four sessions during the week in which the heaviest loss was registered on Wednesday as the equity slipped by 2.2 per cent over insignificant volume. In the following two sessions the equity continued to depreciate in value by recording losses of 0.8 per cent and 0.4 per cent respectively. A total of 33,537 shares changed ownership over 26 transactions.

The other active banking equity, Bank of Valletta plc maintained its previous price at €2.50. The equity commenced trading in the first session of the week were it closed unchanged, while it posted gains in the following two sessions. On Thursday the equity contracted by 1.2 per cent while it closed unchanged in the last session of the week. The bank had the lion’s share as total trading value reached €284,616 traded over 40 transactions. On Thursday the company presented the resolutions for consideration at the 38th annual general meeting which is scheduled to be held on Friday, December 16.

From the hotelier’s sector, International Hotels Investments plc was the week’s overall best performer as it rose by a further 1.1 per cent. On Monday the equity came under selling pressure as it tumbled by a strong 7.1 per cent over 1,000 shares to close the day at €0.78. However, on Tuesday the hotels operator equity reversed all the losses incurred in the previous session as it surged by a sharp 8.9 per cent over 46,547shares. The equity closed the week at €0.849.

The other positive performer for the week was Malta International Airport plc which appreciated by a minimal 0.6 per cent on Friday to end the week at €1.70.

From the telecommunications sector, Go plc surrendered most of the gains it registered in the previous week by snapping a loss of 1.9 per cent. The equity was active in two sessions, were it closed unchanged on Monday over low volumes of 801 shares. In the mid-week session the equity slipped by 1.9 per cent over 3,000 shares to notch the price down to €1.04. Likewise, from the beverage sector, Simonds Farsons Cisk plc eased lower by 1.1 per cent on Tuesday to close the week at €1.81.

Maltapost plc was also among the list of losers, as the postal operator declined by 3.1 per cent to close at a price level of €0.95. A total of 2,975 shares changed hands over two deals which were dealt across two sessions. From the I.T. sector, Crimsonwing plc failed to sustain last week’s rally by posting a loss of 14.3 per cent on Monday to close the week at €0.30.

Meanwhile, the other non-mover for the week was Midi plc which maintained its previous closing price at €0.39 over a single session of 20,000 shares.

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.

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