As opposed to the recent weeks, the Malta Stock Exchange index managed to snap back a significant gain of 1.3 per cent to end the week at 2,960.694 points.

The index showed impetus throughout the week as it recorded gains in the first four sessions, while it closed the week on a sour note as it declined by 0.219 per cent on Friday.

The main gainer for the week was International Hotels Investments plc which closed markedly higher, while Bank of Valletta plc halted its negative momentum by registering a scant gain. Conversely, Go plc upheld its unstableness as it swung back in red zone by recording a sharp loss, thus wiping out last week’s gains.

The week witnessed the trading of 10 equities, in which losers’ outperformed gainers, as five declined in value, three managed to trade in positive territory, while the remaining two closed unchanged. Turnover in the week amounted to €597,392 which was traded over 326,668 shares dealt across a total of 88 transactions.

In the local Government Stocks market, investors’ maintained a positive approach towards the local sovereign debt, as from the 23 active stocks 18 closed higher, while five registered minimal losses. Total turnover in the week amounted to just over €13.1 million, which were traded across 154 deals.

In the corporate bonds market, running yields were mixed as, from the 21 active issues, six gained ground, three depreciated in value and 12 closed unchanged. The 6.2% Mizzi Organisation Finance plc 2016-2019 headed the list of gainers with a gain of 2.4 per cent.

In the equity market, International Hotels Investments plc emerged as the prime gainer for the week as its share price surged by 10.8 per cent or €0.08 to end the week at €0.82. The hoteliers’ equity was active in two sessions in which it recorded the gain on Tuesday. A total of 44,060 shares changed ownership across 10 trades. The increase in the share price could have been triggered by the announcement made by the company that, in line with its strategy to raise new equity, it will soon be conducting road-shows with international institutional investors in various jurisdictions.

Similarly, Simonds Farsons Cisk plc shares opted for an upbeat trend in the last two sessions of the week as the equity gained 3.4 per cent. Throughout the week a total of 6,131 shares were traded over six transactions ending the week at €1.83. On Wednesday, the board of directors approved the financial statements for the year ending January 31, 2012. The company reported that the group’s profit before tax amounted to €5.08 million when comparable to the €4.05 million recorded for the year ending January 31, 2011. In addition, the board has resolved to recommend for the approval of the Annual General Meeting the distribution of a final net dividend of €0.0567 per ordinary share, to be paid by not later than June 21, 2012.

From the financial sector, Bank of Valletta plc re-positioned itself among the gainers for the week as it reversed last week’s loss with a gain of 0.5 per cent. The equity was active throughout the week as it closed in positive ground in two sessions, edged lower in one, while it closed flat on Tuesday to end the week at €2.11. The banking equity had the lion’s share as total trading volume amounted to 186,644 shares which were dealt over 18 transactions.

Yesterday, after close of trading, the company announced its interim financial statements for the six months ended March 31, 2012. The Group reported a profit before taxation of €49.1 million for the first six months when compared to the pre-tax profits of €45.2 million in the first six months of the previous financial year. The bank also announced that an interim net dividend of €0.039 will be paid on the May 24, 2012 to those members appearing on the register of shareholders as at close of business on May 10, 2012, that is, trades undertaken up to and including May 7, 2012.

Conversely, HSBC Bank Malta plc cancelled last week’s gain with a loss of 0.8 per cent to end the week at €2.50. A total of 49,763 shares were traded over four sessions, in which the equity closed lower in two sessions, gained ground in one, and closed unchanged in the other. The other active financial was Middlesea Insurance plc which depreciated by 1.4 per cent on Thursday to close at the €0.69 price levels. Activity in the week was spread over three sessions in which 2,976 shares changed hands over four transactions.

Meanwhile, from the telecommunications sector, Go plc shares retreated back from last week’s gains, as its share value plummeted by 6.3 per cent or €0.05 to end the week at €0.75, thus re-touching a year-to-date loss of 23.5 per cent. In the week, a total of 16,490 shares were traded over two sessions.

Likewise, just below three per cent was shaved off from Malta International Airport plc share value, as three trades of 1,600 shares pushed its share price to the €1.65 price levels. The other negative performer for the week was 6PM Holdings plc which plunged by 5.4 per cent over 6,600 shares to end the week at €0.35.

Meanwhile, the non-movers for the week were Maltapost plc and RS2 Software plc. The former maintained its €0.96 price level over a single session of 2,404 shares, while the latter closed flat at €0.55 over three trades worth €5,472 after trading at an intra-week low of €0.54.

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