Following two consecutive positive weeks the Malta Stock Exchange index pulled back by 1.2 per cent to close the week at 3,054.975 points.
Despite trading higher in three sessions, the index succumbed to selling pressure on Tuesday and Thursday, totalling to 3.7 per cent depreciation.
As opposed to the previous week Banks experienced a negative week with Bank of Valletta plc shares emerging as the prime losers, followed by HSBC Bank Malta plc and Lombard Bank plc. In addition, International Hotels Investments plc traded lower on the week despite a significant appreciation on Friday, while Malta International Airport plc was the only gainer for the week following two weeks of flat trading.
Contrary to the previous week, losers triumphed over gainers as six drifted lower, five closed flat, while the other advanced in value. Total turnover for the week increased to €816,827 traded over a total of 119 transactions which consisted of just over one million shares.
In the Malta Government Stock market, the sell-off momentum continued to prevail, as yields inclined further. In fact, from the 20 active stocks, 15 declined in value, while five posted minimal gains. The 5.9% MGS 2015 short-dated issue was the most liquid issue as total trading value amounted to €643,432. Total turnover for the week almost doubled as it rose to just over €4.1 million.
In the Corporate Bonds market, companies’ bonds garnered support for the second consecutive week, as from the 19 active issues nine gained ground, six closed unchanged, while the remaining four edged lower. The main gainer for the week was the 5.9% HSBC Bank Malta 2018 which appreciated by just below three per cent.
In the equity market, Bank of Valletta plc shares declined by just below two per cent following three positive weeks. The banking equity traded higher in four sessions while sellers re-affirmed control on Tuesday as the equity plunged by 8.3 per cent for no explainable reason. A total of 108,631shares changed hands across 39 transactions to close the week at €2.245, thus limiting to just over one per cent appreciation on a year-to-date basis.
Likewise, HSBC Bank Malta plc re-shifted itself towards lower levels with a 0.6 per cent loss. The equity was active in three sessions as it registered the said loss in two sessions, while it closed unchanged on Thursday. A total of four trades worth €12,026 were traded over 4,390 shares to close the week at the €2.735 price level.
The other active bank was Lombard Bank plc which extended its streak of losses with a further depreciation of 0.5 per cent over a single session to close the week at €1.94, thus touching its all-time lows.
Meanwhile, the other active bank, FIMBank plc, closed the week flat at $0.80 over a single session in which 6,432 shares exchanged hands over two trades.
From the hoteliers sector, International Hotels Investments plc (IHI) recorded a 1.2 per cent depreciation following last week’s minimal gain. The equity was active in two sessions as it tumbled by 7.1 per cent on Thursday, while it than managed to snap back most of the losses in the following session to close at €0.84. Yesterday the company announced that Medina Tower, a company in which IHI has a 25 per cent shareholding has signed a construction contract for the sub and superstructure works of a project with a Turkish contractor.
On a negative note, Midi plc slipped by a significant 13.8 per cent over high volumes of 505,000 to close at €0.25, while Plaza Centres plc lurched downwards by 1.8 per cent over five deals of 72,000 shares to close the week at €0.54.
On a positive note, Malta International Airport plc closed the week up by 0.6 per cent, thus re-touching the €1.75 level. The airport operator was active over three sessions as it swayed from positive to negative in the first two, while it registered the said gain in the other.
On Wednesday the company announced its traffic results for the month of August where passenger movements reached an all time record of 461,153. This movement is equivalent to a 7.9 per cent increase when compared to the same period last year. Analysing the first eight months for the year in term of passenger movements the company experienced an increase of 3.7 per cent when compared to the same period in 2011.
Both Simonds Farsons Cisk plc and Go plc closed the week unchanged. The former closed flat at €2.08 over a single trade of 1,050 shares, while the latter maintained the €0.85 price level over four sessions after trading at a weekly high of €0.90.
The other non-movers for the week were Maltapost plc and Malita plc which closed at €0.63 and 0.52 respectively.
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