For the second week in a row the Malta Stock Exchange index sustained its upward trend by gaining a minimal 0.2 per cent to end the week at 3,041.316 points.

In the week the index oscillated between positive and negative ground with total turnover amounting to €666,703 traded over 12 equities, in which gainers, losers and non-movers tallied to four.

Trading volume amounted to just over one million shares traded over a total of 82 transactions.

Banking equities emerged as key determinants for the index appreciation, with HSBC Bank Malta plc garnering support for the second consecutive week, while Bank of Valletta plc and FIMBank plc managed to close the week on a positive note by recording scant gains. Conversely, Go plc partially shed its recent strong gains by registering a sharp loss on low volumes.

In the local Government Stock market, stocks were snuffed out with renewed buying interest, as from the 21 active issues 19 traded in positive territory, while two posted minimal losses.

Total trading value for the week amounted to just over €13.1m with the 3.6% MGS 2013 being the most liquid as turnover amounted to over 10 million nominal.

In the Corporate Bonds market, yields were mixed, as from the 28 active issues nine gained ground, 11 closed unchanged, while eight sagged lower. The worst performer for the session was the 5.6% Global Capital plc 2014/15 which plummeted by 5.1 per cent.

In the equity market, HSBC Bank Malta plc extended its positive stance for three weeks in a row by recording a further gain of 2.3 per cent to close the week at €2.67. The equity was active in four sessions in which it registered the said gains in two sessions, while it closed unchanged in the other two. Total trading volume reached 32,102 which were traded across 20 deals.

Likewise, Bank of Valletta plc managed to halt its recent downward trend by recuperating a minimal 0.2 per cent to its share value. The banking equity was active throughout the week with turnover reaching 92,011 shares which were dealt across 36 trades to end the week at €2.055. The other active bank was FIMBank plc which advanced by 1.2 per cent to re-touch the $0.86 price level, thus maintaining the pole position of 11.7 per cent on a year-to-date basis.

The other active financial was Middlesea Insurance plc which closed flat at €0.64 over a single session of 3,000 shares.

From the hoteliers sector, International Hotel Investments plc shares rose by a meagre 0.12 per cent, as 3,170 shares changed hands over three transactions to close the week at €0.85.

Conversely, from the telecommunication sector Go plc shares mirror imaged last week’s performance with significant loss of 9.9 per cent, thus recording a decline of 15.4 per cent over two weeks. Activity was spread over 1,950 shares which were dealt across two trades to close the week at €1.

Yesterday the company announced that Markus Golder has been appointed as chief commercial officer while David Kay resigned from chief executive officer for personal reasons.

Also on a negative note both, Plaza Centres plc and Midi plc ended the week on a sour note across high volumes. The former slipped by 3.5 per cent over 321,000 shares to close at €0.579, while the latter plunged by 6.1 per cent three trades worth €167,400 to close at €0.31.

Likewise, Island Hotels Group Holdings plc edged lower by a minimal 0.5 per cent to move towards the €0.845 price level.

The other non-movers for the week were Malta International Airport plc, Simonds Farsons Cisk plc and RS2 Software plc which closed at €1.75, €2 and €0.50 respectively.

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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