Following yesterday’s public holiday, the Malta Stock Exchange (MSE) Index failed to reposition itself in green ground as it recorded a further decline of 0.9 per cent to end the week at 3,022.168 points.
The index oscillated between positive and negative ground with Thursday’s session being the worst session as it recorded a significant loss of 0.9 per cent.
The main dragger for the week was International Hotels Investments plc which got hammered in Thursday’s session, while Bank of Valletta plc drifted lower for the second consecutive week. Conversely, Simonds Farsons Cisk plc upheld their positive stance with a further appreciation.
The week was characterised by 10 equities being active, in which gainers and non-movers tallied to three, while losers totalled to seven.
Total turnover for the week amounted to €276,329 traded over 202,000 shares which were executed across 63 transactions.
In the local government stock market, investors lacked confidence, as from the 19 active stocks, 14 closed lower, four moved higher and one closed unchanged.
In the week turnover was on high trading values of just over 22.7 million with 45 per cent being traded within the 7.8% MGS 2013 issue. In the corporate bonds yields took dissimilar directions, as seven advanced in value, five edged lower, while nine closed unchanged. The 7.5% MIH 2015 headed the list of gainers with a two per cent appreciation.
In the equity market, Bank of Valletta plc declined by a further 0.4 per cent to close the week at €2.06. The banking equity was active over three sessions where it shifted from negative to positive over a total of 21 transactions which consisted of 43,816 shares.
Conversely, HSBC Malta plc managed to recuperate some of the losses it incurred in the previous week by gaining 0.4 per cent, with Thursday’s session being the main determinant as the equity appreciated by 1.2 per cent.
A total of 10,655 shares changed hands across 13 trades to close the week at the €2.51 price level. Meanwhile, on Thursday, the company announced that the board of directors is scheduled to meet on August 7, 2012, to approve the Group’s and bank’s interim accounts for the half-year ending June 30, 2012.
Likewise, Middlesea Insurance plc closed the week higher by 1.6 per cent over 12,724 shares to close the week at €0.64. On the contrary, from the same sector, Global Capital plc plunged by 11.7 per cent over one transaction of 400 shares to close at the €0.83 price level. Meanwhile, the other active financial was Lombard Bank plc which closed flat at €2.20 over a single deal of 500 shares.
From the hoteliers sector, International Hotels Investments plc plummeted by 5.6 per cent in the last session of the week to close at €0.85. A total of 1,050 shares were traded over two sessions. Similarly, following its recent bullish trend, GO plc shares closed minimally lower by 0.4 per cent across a single session of 2,500 to close the week at €1.175. Grand Harbour Marina plc slipped by 1.1 per cent over a significant volume of 30,000 shares to close at €1.828.
From the IT sector, both 6PM Holdings plc and Crimsonwing plc registered a markable loss, with the former declining by 8.6 per cent over a single trade of 1,000 shares, while the latter lurched downwards by 7.1 per cent over 36,335 in volumes to close at €0.26. Meanwhile, the other active IT operator was RS2 Software plc which closed flat at €0.50.
Finally, Simonds Farsons Cisk plc shares advanced to a new record high of €2.15 for the year, as they surged by 7.5 per cent, thus totalling a gain of 19.4 per cent on a year-to-date basis.
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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