The Malta Stock Exchange (MSE) Index extended its streak of gains to four consecutive sessions by recording a further appreciation of 0.5 per cent to end the session at 3,058.953 points. The index experienced a relatively positive week by displaying impetus in three sessions, while it registered losses in the first session of the week and on Friday. From the financial sector Bank of Valletta plc and FIMBank plc were the sole gainers, while Lombard Bank plc captured additional losses to touch record lows. Meanwhile, Go plc upheld its bullish trend with a remarkable gain of 18.6 per cent on the week, therefore supporting its year-to-date positivity.
Total trading value for the week more than doubled, reaching just under €1.2m traded over 143 transactions which consisted of 1.25m shares. The week was characterised by 12 equities being active, in which gainers and losers tallied to five, while non-movers amounted to two.
In the local Government stock market, investors pressured yields higher as they tended to sell their assets in light of the new stock issuance. In fact, all 22 active issues drifted lower, with medium- to long-dated stocks being the most vulnerable. On Thursday afternoon the Treasury announced the prices for the new issues, which are the 3.75% MGS 2017 and the 5.1% MGS 2029 priced at €102 and €101 respect-ively, resulting in a Yield to Maturity (YTM) of 3.324% and 5.012%, while the 4.3% MGS 2022 fung-ibility issue was priced at €100.25 with a YTM 0f 4.268%. Investors will be able to place their applic-ations as of Monday, but are advised to read the prospectus before considering investing in these issues.
In the Corporate Bonds sector yields were balanced as from the 30 active issues, nine gained ground, 12 closed flat, while the remaining nine declined in value. The 4% AX Investments 2013 issue headed the list of losers, as it lurched by a significant 19.2 per cent.
In the equity market, following last week’s flat trading, Bank of Valletta plc shares returned to positive ground by registering a 0.5 per cent gain to close the week at €2.07. The equity had the lion’s share as total turnover amounted to €386,408 traded over 44 transactions. On Friday, following the close of trading, the company announced that the board of directors had been notified by Mr Roderick Chalmers that he had decided to hand in his resignation as the Bank’s Chairman for a number of personal motives.
Likewise, FIMBank plc managed to pare the losses it incurred in the previous week with a gain of 1.2 per cent over a considerable amount of 151,714 shares to return to the $0.85 price level. Conversely, both Lombard Bank plc and Middlesea Insurance plc dipped on the week, with the former recording an additional loss of 2.2 per cent, thus touching new lows to close at €2.20, while 2.3 per cent was shaved off from the latter’s share value to end the week at €0.63.
Meanwhile, the other active financial was HSBC Bank Malta plc, which closed the week unchanged at €2.52 after trading at an intra-week low of €2.48. The equity was active in three sessions in which 30,768 shares were dealt over 15 deals.
From the telecommunications sector, Go plc shares continued their ascent with a further staggering gain of 18.56 per cent. The equity was active throughout the week as it displayed solid gains in all sessions to end the week at €1.15, in the process recording a gain of 64.3 per cent from its lows of €0.70. A total of 172,440 shares were traded over 37 deals.
Similarly, following last week’s appreciation Malta Inter-national Airport plc’s share price added 1.7 per cent to its share value to close the week at €1.77. The equity was active in four sessions in which a total of 47,500 shares changed hands across 18 transactions.
From the beverage sector, Simonds Farsons Cisk plc was also among the list of gainers with a scant gain of 0.3 per cent to move towards the €2.00 price level, thus appreciating by 11.1 per cent year-to-date.
On a negative note, Plaza Centres plc headed the list of losers as its shares plunged by 23.3 per cent on Monday, in which just 500 shares were dealt over a single trade to close at €0.69.
Both Midi plc and Crimsonwing plc were also among the draggers for the week. The former slipped by 4.3 per cent in the last minutes of trading on Friday over a significant volume of 500,000 shares to close at €0.335, while the IT operator declined by 6.8 per cent or €0.20 over 10,000 shares to close at €0.28.
The other non-mover for the week was RS2 Software plc, which closed unchanged at €0.50 over 11 trades’ worth of €61,027. On Tuesday the company announced that in its Annual General Meeting, held on the same day, shareholders had considered and approved that the company’s share capital should be increased from the existing 40m to 50m ordinary shares at €0.20 each.
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.
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