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The Malta Stock Exchange index kicked-off 2013 with a remarkable gain of 1.2 per cent over the appreciations recorded among seven equities. The index was only active in the last two days of the week due to the festive season in which it gained 0.8 per cent and 0.4 per cent respectively.
The banking equities emerged as the main contributors with HSBC Bank Malta plc displaying impetus followed by Bank of Valletta plc, while Crimsonwing plc maintained its bullish trend by recording a staggering gain of 10 per cent.
Turnover in the week increased to €276,629, as a total of 191,114 shares were executed across 84 transactions.
Meanwhile, turnover in Corporate Bonds amounted to €125,003 traded over nine issues.
The newly listed 7.5% Mediterranean Bank issue was the most liquid as 33,000 nominal were traded across five deals.
In the Government Stock Market trading value totalled €1.2 million. Activity was dealt over 18 issues with longer-dated issues emerging as the most active, namely the latest 4.8% MGS 2028 as total trading value reached €242,387.
From the financial sector, HSBC Bank Malta plc advanced by 3.3 per cent or €0.09 over both sessions to close the week at €2.79. The equity was active over 11,400 shares which were dealt across 14 trades.
Likewise, Bank of Valletta plc snapped back last week’s minimal loss by posting a 0.4 per cent appreciation. The banking equity rose by 0.6 per cent on Thursday, while it shaved a scant 0.2 per cent in the subsequent session to end the week at the €2.425 price level. Activity was dealt over 35 deals worth €157,790.
From the same sector, following two weeks of unchanged positions, Middlesea Insurance plc returned to winning grounds with a rise of 1.4 per cent, thus moving back towards the €0.75 price level.
The other active bank was Lombard Bank plc which closed the week flat at €1.86 over two sessions in which 3,000 shares changed hands. Meanwhile, on Thursday the company announced that the board of directors is scheduled to meet on March 14 to approve the financial statements for the year ending December 31, 2012. Furthermore, the board will also consider the declaration of a final dividend to be proposed in the annual general meeting.
Meanwhile, Go plc sustained its upward trend for the eighth week in a row by posting a further gain of 0.4 per cent. The telecommunications equity was active in both sessions, in which it closed unchanged in the first session, while it marked the said rise on yesterday. A total of 19,300 in volume changed ownership to close the week at €1.195, after trading at an intra-two day high of €1.20.
Similarly, from the IT sector both Crimsonwing plc and RS2 Software plc were bolstered by investors’ sentiment by posting further gains. The former soared by 10.2 per cent on Thursday, thus maintaining its upbeat tone after having gained 96 per cent in 2012. The equity was active over three trades of 36,000 shares closing the week at €0.54 and thus traded at above the IPO price. Meanwhile, the latter advanced by 1.4 per cent on Thursday as 14,557 shares changed hands to touch the €0.75 level, while 6pm Holdings plc closed flat at £0.31.
The other gainer for the week was Malita plc which rose by two per cent yesterday to end the week at €0.51.
Finally, the other non-movers for the week were Simonds Farsons Cisk plc and Maltapost plc which closed at €2.50 and €0.85 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 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.