For the sixth consecutive week, the Malta Stock Exchange Index re-affirmed its negative momentum by registering a loss of 0.2 per cent to close the week at 2,989.290 points, thus increasing its year to date loss to 3.4 per cent. The index in the week oscillated from negative to positive with the majority of large caps trading in negative zone, while the significant gain by International Hotels Investments plc was a key determinant in halting further possible losses. The tone on the local market turned uneasy, as 10 from the 12 active equities 10 declined in value, while the remaining two managed to mark themselves on the list of gainers. Activity in the week turned out on high volumes of 772,887 shares, with Crimsonwing plc trading 65 per cent of the total volume.
In the Corporate Bonds Market, as opposed to last week turnover doubled to reach just over one million Euros, as out of the 28 active stocks, 12 appreciated in value, 13 closed lower, while three closed unchanged. The 5.6% Global Capital 2014-2016 headed the list of gainers with a 2.5 per cent gain. Meanwhile, in the Government Bonds Market as international equity markets maintained a comparatively running upbeat trend, yields took a parallel approach from the previous week, as from the 20 active issues 11 traded in negative territory, eight registered gains while one closed unchanged. The 4.6% MGS 2020 was the most liquid issue as total trading value amounted to just over €2.9 million, which were traded over four deals.
From the equity market, International Hotels Investments plc was the main gainer for the week, as it shares surged by four per cent to regain the €0.78 price levels. The hoteliers equity was the second most liquid as a total of 100,307 shares were dealt across two trades.
Meanwhile, the financial sector was unable to fight off sellers, as from the six active equities, HSBC was the sole stock to register a marginal gain. In fact, the banking equity managed to capture a 0.4 per cent gain yesterday to end the week at € 2.56. The equity was active in three sessions as a total of 12,635 shares were dealt across seven transactions. On Thursday, the company announced the appointment of Mr Mark Watkinson as Executive Director with effect from 14 February 2012.
On the contrary, Bank of Valletta plc shares fell out of favor as the bank traded lower in three sessions, with Tuesday being the worst day for the equity as it declined by 1.2 per cent. Activity in the week was spread over four sessions in which a total of 46 transactions were traded over 65,051 shares to end the week at € 2.17 and thus two per cent lower on the week. Likewise, 0.4 per cent was shaved off Lombard Bank plc shares over a single deal of 9,700 shares to close the week at the €2.52 price level.
FIMBank plc depreciated by a further 0.3 per cent following last week’s considerable losses. The bank was active in two sessions were it traded flat on Thursday while it incurred the said loss yesterday to end the week at $0.748. Similarly, Middlesea Insurance plc shares re-experienced a torrid week with a significant loss of three per cent over a mere of 50 shares to reach new record lows of € 0.68. The other active financial was Global Capital plc, which slipped by a sharp five per cent yesterday, as 10,600 shares changed ownership over eight trades to close at €0.95.
From the telecommunications sector, Go plc dipped further in negative ground by 3.3 per cent or €0.028. The equity was active in two sessions and despite a positive start to the week by recording a gain of two per cent, this was than totally cancelled in the following session as it plunged by 5.2 per cent to close the week at €0.832. Furthermore, Malta International Airport plc shares declined by 2.3 per cent or €0.04 over two sessions as 33,515 shares were traded over six transactions.
From the I.T. sector, both 6PM Holdings plc and Crimsonwing plc were among the primary laggards for the week. The former depreciated by 7.5 per cent on 10,000 shares on Monday to close at £0.37, while the latter slipped by a further 11.1 per cent to close the week at €0.16, and thus a 28 per cent loss year to date.
Finally, from the postal industry, Maltapost plc surrendered all the gains recorded in the previous week by registering a loss of four per cent on Thursday to re-position itself within the €0.95 price levels.
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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