The Malta Stock Exchange index commenced the second month of the year on a sour note, as it extended its losses by 0.3 per cent to end the week at 3,055.802 points. Despite some gains in the last two sessions of the week, the index failed to diverge into green territory, as the considerable losses by Bank of Valletta plc and Go plc were the prime determinants for the index’s negative close. Conversely, Malta International Airport plc re-gained ground to sustain its year-to-date gains while HSBC Bank Malta plc shares moved against the negative trend experienced by financial equities. Turnover in the week amounted to €308,441 traded over 12 equities, in which gainers and non-movers tallied to three, while fallers totalled six. Total trading volume in the week reached 161,513 shares, traded over 114 transactions.
In the Corporate Bonds market, turnover decreased by almost half to €508,262 traded over 26 issues. Running yields opted for dissimilar directions, with five appreciating in value, nine edged lower, while 12 closed unchanged. The 7% Midi plc 2016-2018 denominated in euro headed the list of gainers by recording a gain of two per cent.
Meanwhile, in the Government Bonds market turnover declined drastically to €7.1 million traded over 21 stocks. Investors in the week showed impetus towards the sovereign market, as 14 stocks closed higher, five registered a loss, while two closed flat. Most of the trading focused on the short-dated 3.6% MGS 2013 issue in which almost 2.5 nominal dealt over 21 transactions.
From the equity market, Bank of Valletta plc shares cancelled all the gains recorded in the previous week by recording a loss of 1.8 per cent to end the week at €2.21. The bank’s shares experienced a torrid week with Wednesday’s session being the most unpleasant, as the equity plunged by 2.2 per cent. The equity was once again the most liquid, as a total of 53,313 shares were traded across a total of 44 transactions. On Tuesday, the company announced that, following the allotment of 30 million bonus shares, the total number of voting rights has increased to 270 million. Furthermore, yesterday the company stated that the newly appointed chief executive officer, Charles Borg, has presented proposals to the board of directors recommending certain changes in the organisational structure.
Likewise, Lombard Bank plc declined by 0.8 per cent. The equity was active during three sessions with the price oscillating from negative to positive to close the week at €2.55. A total of 15,858 shares changed ownership across nine trades. Similarly, FIMBank plc lurched by 0.4 per cent over a single session on Monday to close at the $0.765 price levels.
On the contrary, HSBC Bank Malta plc shares extended their positive stance to a second consecutive week by recording a gain of 0.4 per cent. The equity was active throughout the week as it headed southwards in the first three sessions, but managed to bounce back in the last two days to end the week at €2.57. Activity in the week was spread across 16 deals worth €55,708 as 21,856 shares changed hands.
From the telecommunications sector, Go plc re-affirmed its negative momentum by registering another decline of 1.1 per cent, thus plunging by 9.2 per cent year-to-date. The equity kicked off the week on a negative note by recording a sharp loss of 5.6 per cent which it than managed to partially offset by gaining 4.7 per cent in the following session to close the week at €0.89. On Tuesday, the company announced thatStuart Kelly would not be taking the post of chief commercial officer as was announced previously due to personal reasons. Yesterday, it announced that Montasser Ouaili, a non-executive director of the company has relinquished his post of director of the company with immediate effect and will be replaced by Mr Nikhil Prakash Patil.
From the postal industry, Maltapost plc plummeted by four per cent over two sessions, in which a total of 2,292 shares were traded over three deals to end the week at €0.96. Middlesea Insurance plc depreciated by a further 0.1 per cent following last week’s significant loss. The equity was active in two sessions as 2,300 shares were dealt over three trades to close at €0.719.
On a positive note, Malta International Airport plc re-positioned itself in positive territory by snapping back last week’s losses, thus re-affirming the 3.6 per cent year-to-date gains. The airport operator was marked as the second liquid equity, as a total of 35,260 shares changed hands over 14 deals to close the week at €1.75. From the beverage sector, Simonds Farsons Cisk plc advanced by 1.7 per cent or €0.03 on Thursday to move towards the €1.83 price levels.
Meanwhile, the non-movers for the week were, Plaza Centres plc, Island Hotels Group Holdings plc and Santumas Shareholdings plc, which maintained their previous closing prices at €1.80, €0.85 and €2.10 respectively.
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