Following two weeks of negative trading, the Malta Stock Exchange index, returned to winning grounds with a notable rise of 1.4 per cent to close at 3,211.984 points. In the week, the listed banks displayed impetus with Bank of Valletta plc emerging as the prime gainer within the sector followed by HSBC Bank Malta and Lombard Bank plc.
During the week, gainers prevailed as from the 16 active equities 10 advanced in value, while six closed unchanged.
Total turnover for the week declined to €764,633 traded over 452,689 shares which were dealt across a total of 130 transactions.
Meanwhile, turnover in Corporate Bonds totalled €1.47 million traded across 25 bonds while in the Government Stock Market trading executed totalled just under €1.5 million.
In the former, €1 million was traded in the 7.5% Mediterranean Bank EUR 2019 bond, while in the latter the 6.65% MGS 2016 and the 4.3% MGS 2022(I) were the most active.
From the banking sector, Bank of Valletta plc emerged as the main gainers for the week despite sliding minimally lower on Wednesday. The equity cancelled last week’s decline by gathering a gain of just below three per cent to close the week at €2.419 on 120,965 shares.
On Thursday, the company announced that during the 39th annual general meeting held on the previous day all resolutions on the agenda were approved, among which the gross dividend of €0.13 per share.
Furthermore, the board of directors was also elected with two new members, Ann Fenech and Franco Xuereb.
Likewise, HSBC Bank Malta plc turned positive with an appreciation of 1.1 per cent, thus partially wiping-off last week’s 1.8 per cent loss. A total of 63,830 shares changed hands to close the week at €2.70.
Meanwhile, on Tuesday the company announced that the board of directors is scheduled to meet on March 13, 2012, to approve the financial statements for the year ending December 31, 2012. In addition, the board will also consider the declaration of a final dividend to be recommended to the bank’s annual general meeting.
In line with its peers, the other active bank, Lombard Bank plc closed the week higher at €1.86 on 27,350 shares, and thus gaining one per cent this week and posting a 4.1 per cent over two weeks.
Meanwhile, from the hoteliers sector, International Hotels Investments plc closed the week flat at €0.86. The equity was active in two sessions in which 4,500 shares were executed.
Other non-movers for the week were Middlesea Insurance plc and Simonds Farsons Cisk plc. The former closed flat at €0.74 over two sessions, while the beverage equity traded unchanged at €2.50 over 1,000 shares.
From the IT industry, all three listed equities were active, with Crimsonwing plc extending its bullish trend with a further gain of 6.5 per cent on turnover of 36,880 shares, thus posting just over 16 per cent over the past three weeks.
Similarly, RS2 Software plc advanced by 2.1 per cent over 37,160 shares to close at €0.74, while 6pm Holdings plc closed flat at €0.31 after trading at an intra-week low of €0.30.
The other gainers for the week were Midi plc and Grand Harbour Marina plc. The former advanced by 1.9 per cent over a mere of 620 shares to close €0.275, while the latter rose by 0.6 per cent over a single trade in which 1,900 shares were executed.
Likewise, Go plc extended their ascending momentum for the sixth week in a row with a further gain of 5.4 per cent. A total of 77,810 shares exchanged hands over 28 deals to close the week at €1.18.
On a similar note, both Plaza Centres plc and Santumas Shareholding plc rose by 11.1 per cent and 5.9 per cent respectively on minimal trading volumes.
The other non-movers for the week were Malta International Airport plc and Maltapost plc which closed flat at €1.80 and €0.85 respectively.
Trading in the former was just over 54,000 shares while trading in the latter was minimal at 3,111 shares.
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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: 2122 4410, or e-mail info@jesmondmizzi.com