The Malta Stock Exchange (MSE) Index halted its recent negative stance by gaining a minimal 0.5 per cent to end the week at 3,074.879 points despite heading lower in three out of five sessions. The mid-week session proved to be a key source of support for this week’s gain, as the solid gains recorded by HSBC Bank Malta plc and Malta International Airport plc pushed the index towards a significant appreciation of 0.83 per cent. Activity in the week witnessed the trading of eight equities in which gainers outperformed losers as four closed higher, three edged lower, while one closed unchanged. Total turnover increased to €317,581 traded over 234,091 shares, which were dealt across 103 transactions.
Meanwhile, high turnover was registered in the Government stocks market as total trading value amounted to just over €22.4 million, of which €20.8 million were traded within the 4.3% MGS 2016. During the week, running yields were rather mixed, as from the 14 active issues seven traded in positive territory, five lost ground, while two closed unchanged. The best performer for the week was the long dated 5.5% MGS 2023 which gained 1.1 per cent. In the Corporate Bonds Market, 29 issues were active, of which five appreciated in value, four declined and 20 closed flat. The 7% MIDI plc GBP 2016-2018 headed the list of gainers as it rose by two per cent.
In the equity market, HSBC Bank Malta plc snapped back most of the losses incurred in the previous week by gaining 3.2 per cent or €0.08 to close the week at €2.58. The equity was active in the first three sessions of the week were it appreciated by a sharp gain of two per cent on Monday, traded flat on Tuesday, while it advanced by 1.2 per cent on Wednesday. A total of 14,184 shares changed hands over eight transactions.
Likewise, FIMBank plc gained a minimal 0.13 per cent over 51,500 shares to close at $0.77. The equity experienced a turbulent week as it plummeted by nine per cent on Tuesday, while managing to bounce back in the following session by recording a 10 per cent gain.
Meanwhile, Bank of Valletta plc (BOV) closed the week unchanged despite some intra-week price movements. A total of 55,465 BOV shares were traded across 48 trades. The bank experienced a relatively uneventful week as it closed flat in three sessions, while it slipped by a minimal 0.28 per cent on Wednesday which it than recouped on Thursday to close at the €2.50 levels.
From the aviation industry, Malta International Airport plc showed impetus, as its share value rallied by 5.6 per cent or €0.09, thus cancelling most of the losses recorded in the month and returning to a 1.8 per cent gain year to date. However, trading volume was on the low side as 5,366 shares changed hands over five deals. The equity was active in three sessions as it closed flat in two sessions while registering a strong gain on Wednesday to end the week at €1.69.
Similarly, Maltapost plc enjoyed a strong week as the postal operator’s share priced increased by 4.2% to close at €0.995 level. The equity experienced a positive week as it closed three sessions in positive territory, while it closed unchanged during two sessions. Tuesday’s session was the main driver to this week’s gain, following a 2.5 per cent gain.
On a negative note, on Thursday GO plc surrendered two per cent from its share price, however on one deal of a mere 400 shares to close at €0.98. Throughout the week a total of 20,000 shares changed hands over 12 deals. The company this week announced that Mr. Yiannos Michaelides will be relinquishing his post of Interim Chief Commercial Officer and will be replaced by Mr Stuart Kelly with effect from Monday 9th January 2012.
From the insurance sector, Middlesea plc contracted by a sharp 11 per cent over one deal of meager 50 shares on Monday to close the week at €0.80. The equity was also active in the last session of the week were it closed unchanged over 200 shares.
Finally, the other heavy faller this week was MIDI plc, as the equity plunged by 10 per cent over a single trade of 1,300 shares to close the week at €0.351.
We wish you all a Happy Christmas.
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.