For the third week in a row, the Malta Stock Exchange (MSE) Index upheld its recent negative position by recording a further decline of 0.4 per cent, thus registering a 2.2 per cent loss on a year-to-date basis. This week the exchange traded four times due to Wednesday’s public holiday, and the index experienced a relatively negative week as it traded lower in three sessions, while it managed to close higher on Tuesday.
Once again, HSBC Bank Malta plc emerged as the main dragger for the week, followed by International Hotels Investments plc and Lombard Bank plc. Conversely, Bank of Valletta plc repositioned itself towards positive paths, while Simonds Farsons Cisk plc sustained its bullish trend.
The week witnessed the trading of nine equities, in which losers outperformed gainers as three equities closed higher, among which the newly-issued Malita Investments plc shares, four edged lower, while the other two closed unchanged. Turnover in the week decreased to €119,294 traded over 69,875 shares which were executed across 42 transactions
In the Government Stock market, investors tended to steer away from safer havens, as foreign markets eased fear from the global debt crisis on positive growth data from Germany and France. In fact, from the 21 active stocks, losers and gainers tallied to 10 while non-movers totalled one.
The long-dated 5.25% MGS 2030 headed the list of losers with a 0.7 per cent decline. Meanwhile, in the Corporate Bonds market yields took diverging positions, as 10 gained ground, two posted a loss, while seven closed unchanged. The prime gainer for the week was the 4.8% Bank of Valletta 2020 which appreciated by 2.4 per cent.
In the equity market, HSBC Bank Malta plc extended its streak of losses by registering a further decline of 1.9 per cent to close the week at €2.649. The equity was active in three sessions, commencing the week on a sour note by incurring a significant loss of 3.7 per cent which it then managed to partially offset by registering a 1.9 per cent gain in the following session. A total of 23,200 shares changed ownership over 13 transactions.
Likewise, following three weeks of inactivity, Lombard Bank plc returned to trading with a 1.4 per cent loss. The banking equity was active on Tuesday where it registered the said loss over 950 shares to close the week at €2.15. On the contrary, Bank of Valletta plc shares stood up to their recent pull-back with a gain of just below one per cent to close the week at €2.10 price level. A total of 15,925 shares were traded over three sessions.
From the hoteliers’ sector, International Hotels Investments plc shaved off a minimal 0.2 per cent from its share value following last week’s 6.3 per cent appreciation. The equity was active over two sessions in which it registered a loss of 0.1 equally in both sessions, thus closing at €0.848.
Likewise, Maltapost plc extended it negative saga, as its share value plunged by a further 6.1 per cent to close at €0.77, hence posting a year-to-date loss of 23 per cent. Yesterday’s drop in the price of the equity can be attributed to the Directors’ Interim Statement which anticipated that the trend in the decline in profitability reported for the six months ended March 31, 2012, will be reflected in the second half of the financial year.
Meanwhile, the newly-issued Malita Investments plc shares traded for the first time since their inclusion on the official trading list. In fact, the equity commenced its trading journey on a positive note by recording a considerable gain of four per cent over a single trade of 5,000 shares to close at €0.52.
Similarly, from the beverage sector, Simonds Farsons Cisk plc secured its upward trend by posting a gain of 1.5 per cent. A total of 1,200 shares were traded over a single session to close at €2.03.
Meanwhile, the non-movers for the day were GO plc and Plaza Centres plc, with the former closing at €1.02 after trading at an intra-week low of €1.00, while the latter closed unchanged at €0.55 over 9,900 shares.
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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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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