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Seven equities close higher

Following two consecutive weeks of negative returns, the Malta Stock Exchange index managed to erase last week’s loss by registering a gain of 1.6 per cent to close the week at 3,130.402 points.

Throughout the week the index showed impetus as it gathered a 2.3 per cent gain in four sessions, while it succumbed to a loss of 0.657 per cent on Tuesday.

As opposed to the previous week, International Hotels Investments plc was the prime gainer which offered support to the broader market, followed by Go plc which upheld its ascending momentum. On the contrary, HSBC Bank Malta plc partially wiped-off last week’s gains.

In the week, gainers prevailed over losers, as from the 15 active equities seven clicked another notch higher, three drifted lower, while five closed the week flat.

Activity was dealt over a total of 647,667 shares which were executed across 114 transactions, totalling to €528,132.

In the Government Stock Market, as foreign markets displayed strength following positive news with regards to so-called ‘fiscal cliff’ in America, investors tended to re-shift their assets towards riskier assets. This could have had a negative impact on local government bonds as, from the 22 active stocks, 16 edged lower, five posted positive returns, while one closed unchanged. Total turnover for the week amounted to just over €4.2 million of which €1.2 million were traded within the 4.25% MGS 2017.

In the Corporate Bonds market, the price trend was up as, from the 25 active issues, 11 gained ground, four turned lower, while 10 closed unchanged. The 5.6% Global Capital issue headed the list of gainers with a 2.5 per cent appreciation.

In the equity market, Inter­national Hotels Investments plc shares garnered support with a staggering 11.8 per cent appre­ciation following last week’s six per cent decline. The hoteliers’ equity was active in the mid-week session and yesterday in which it gained 6.5 per cent and five per cent respectively to close the week at €0.84. A total of 15,527 shares changed ownership across three trades.

From the banking sector, Bank of Valletta plc managed to close the week minimally higher by gaining 0.04 per cent. The equity was active in four sessions, in which it hinged lower in two, while it then managed to gather 0.8 per cent in the subsequent sessions. The banking equity was the second most active with total trading value amounting €129,343 traded over 54,155 shares to close the week at €2.40.

Conversely, HSBC Bank Malta plc almost reversed last week’s gains as it recorded a 1.7 per cent decline over two sessions to close the week at €2.652. A total of 18,200 shares were dealt across 13 transactions.

The other active financial, Lombard Bank plc closed unchanged at €1.78 over a single session of 2,000 shares.

From the IT sector, investors continued to display confidence in both Crimsonwing plc and RS2 Software plc. The former expanded its streak of gains by recording a 5.3 per cent gain over two sessions to close the week at €0.42, thus marking an impressive 68 per cent gain on a year to-date basis; while the latter captured an 8.3 per cent gain over three sessions to close the week at €0.65. Activity was dealt on high volumes of 248,100 shares which were dealt across 15 deals.

Conversely from the same industry, 6pm Holdings plc depreciated by 3.2 per cent on Tuesday, thus pointing towards the €0.30 price level. Furthermore, following five weeks of inactivity, Medserv plc shares returned to the trading desk with a 3.5 per cent decline over a single session to end the week at €3.85.

On a positive note, Go plc rose by just below four per cent on Wednesday, thus marking a 47.5 per cent appreciation from its lows of €0.712 in the first week of May. A total of 27,000 shares changed hands over 15 transactions to close the week at €1.05.

The other gainers for the week were Grand Harbour Marina plc and Maltapost plc. The former managed to bounce back from the initial 3.5 per cent decline recorded on Tuesday, as it than rallied by 9.5 per cent in the following two sessions, to marking a 5.9 per cent weekly gain. The equity was dealt over four trades which consisted of 17,900 shares to close at €1.81. Similarly, the postal operator advanced by four per cent in yesterday’s session over 4,354 shares to re-position itself at the €0.78 price level.

Meanwhile, both Malta International Airport plc and Plaza Centres plc closed the week unchanged. The airport operator was active in two sessions, in which it advanced by 0.6 per cent on Monday, while it shaved-off an equal amount on Thursday to close the week flat at €1.77. In the latter’s case, activity was dealt over 6,000 shares which were executed across two trades to end the week at the €0.52 level.

The other non-movers for the week were Midi plc and Malita Investments plc which closed unchanged at €0.25 and €0.50 respectively.

This article which was compiled by Jesmond Mizzi Financial Advisors Limited, does not intend to give investment advice and the contents therein should not be construed as such.

The company is licensed to conduct investment services by the Malta Financial Services Authority 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.

For further information contact Jesmond Mizzi Financial Advisors Limited at 67, Level 3, South Street, Valletta, or on Tel: 2122 4410, or e-mail [email protected].

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