The Malta Stock Exchange (MSE) Index topped a further 2.1 per cent to its value, thus registering a 3.7 per cent gain over two consecutive weeks to close the week at 3,197.387 points. Despite the said gains the index ended the month lower by 2.1 per cent; however it managed to maintain its positive stance on a year-to-date basis with a 3.3 per cent appreciation.
Monday’s session emerged as a key source of support as the index advanced by a remarkable 1.5 per cent following the notable gains registered by large caps. In fact, International Hotels Investments plc continued to display strength, while HSBC Bank Malta plc returned to winning grounds, followed by GO plc which maintained its bullish trend. Conversely, Middlesea Insurance plc turned negative, while Simonds Farsons Cisk plc shaved-off a percent point from its recent yearly highs.
For the second week in a row, gainers reigned over losers as from the 12 active equities; nine closed higher, two edged lower, while the other two closed unchanged. Total turnover for the week increased marginally to €533,514 traded over a total of 109 deals which consisted of 511,712 shares.
Meanwhile, in the Government Stock Market, local investors continued to display conviction towards the local sovereign debt, as yields dropped following the initial unsettled week in the foreign markets. In fact, from the 24 active stocks 17 appreciated in value, six headed southwards, while one closed flat. This week turnover was on the high side totalling just over €24.1m.
In the Corporate Bonds market, yields were mixed as six gained ground, four declined, while seven closed flat. The 5.6% Global Capital issue emerged as the prime loser as the price fell by 2.4 per cent.
In the equity market, International Hotels Investments plc maintained its upward trend by marking a further gain of 4.7 per cent, thus rebounding further towards the €0.95 level which was recorded as at the end of October. A total of 34,089 shares changed hands across six deals to close the week at €0.88.
From the financial sector, HSBC Bank Malta plc rose by a notable 3.7 per cent, thus regaining the 1.8 per cent loss registered in the previous week. The equity was active in three sessions but recorded the said gain on Monday. The banking equity was the third most liquid as total trading value amounted to €82,144 traded over 15 deals of 30,335 shares.
Likewise, Bank of Valletta plc advanced by a further 0.6 per cent to close the week at the €2.415. The equity was active throughout the week as it oscillated from negative to positive over a total of 64,540 shares which were executed across 33 transactions. This week the Bank announced the resolutions to be presented at the Annual General Meeting which will be held on Wednesday 19, December 2012.
Lombard Bank plc similarly recouped 1.1 per cent on Tuesday over 6,470 shares to re-touch the €1.80 price level. From the same sector, the other active financial was Middlesea Insurance plc which plummeted by 5.4 per cent in the mid-week session over a single trade of 2,080 shares.
From the telecommunication sector, GO plc extended its streak of gains to three sessions, as it garnered further support with a gain of 1.4 per cent. Accounting for this week’s gain the equity surged by 8.7 per cent on a year-to-date basis.
On a similar note, the listed IT equities continued to flourish by marking further gains. In fact, RS2 Software plc soared by 6.2 per cent over two sessions to close at €0.69, thus marking a 14.5 per cent over two sessions. Likewise, 6pm Holdings plc ascended by 3.3 per cent on Wednesday, as 5,800 shares were executed over three transactions.
The other active I.T. Company which traded this week was Crimsonwing plc which closed flat at €0.42 after trading at an intra-week low of €0.405. Meanwhile, the company announced its interim results for the period ending September 30, 2012. It stated that it enjoyed a very good sales period in the first half of the year with revenues up 12 per cent on the same period last year to €8.67m when compared to the €7.74m recorded in 2011. This is the highest first half revenue recorded by Crimsonwing. Profit before tax for the period ended 30 September, 2012 amounted to €550,398
Meanwhile, the other gainers for the week were Malta International Airport plc and Plaza Centres plc. The former rose by 1.7 per cent over 11 trades of 30,250 to close at €1.80, while the latter advanced by 3.9 per cent over a single trade worth €17,550.
Finally, on a negative note Simonds Farsons Cisk plc trimmed 1.2 per cent from its recent gains to close the week at €2.40.
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 MFSA and is a Member of the Malta Stock Exchange and a member of the Atlas Group. 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: 21224410, or email info@jesmondmizzi.com