The Malta Stock Exchange index sustained last week’s gain as it gathered a further appreciation of 0.5 per cent to end the week at 3,230.435 points.
Despite capturing a gain of just below one per cent in three sessions, the appreciation proved unsustainable, as the sellers reaffirmed control on Tuesday and in the mid-week session in which the index locked a loss of 0.47 per cent.
In the week, Go plc extended its stream of gains for the 11th consecutive week, followed by Maltapost plc, which maintained its bullish position.
The week witnessed the trading of 17 equities, in which gainers and non-movers tallied to eight, while Middlesea Insurance plc emerged as the sole loser for the week.
Trading value for the week was slightly lower, reaching just over 1 million which were dealt across 1.1m shares.
In the Government Stocks market turnover totalled €27.3 million traded over 25 issues. Once again the medium-dated 7.8% MGS 2018 issue was the most liquid, as total trading value amounted to €14 million.
In the Corporate Bonds market activity was dealt over 19 issues with a total nominal value amounting to 722,400. The 5.9% HSBC Bank Malta 2018 was the prime gainer for the week with a 5.9 per cent appreciation.
In the banking sector, Bank of Valletta plc advanced by 0.4 per cent to close the week at €2.259. The equity was active throughout the entire week where it oscillated between positive and negative in four sessions, and closed flat on Wednesday. A total of 108,662 shares exchanged hands over 65 transactions. On Wednesday the bank announced that it had been informed by the regulator that in regard to the La Valette Multi-Manager Property Fund, following a review exercise by an independent firm, a final list of investors was drawn up. Accordingly, the bank will be making a payment of €1 per share to those investors included in the said list.
HSBC Bank Malta plc closed the week unchanged at €2.70 after trading at an intra-week low of €2.68. A total value of €134,261 was traded across 25 deals. Both Lombard Bank plc and FIMBank plc maintained their previous closing prices at €1.86 and $1.02 respectively.
Middlesea Insurance plc was the sole loser for the week. The equity was active on Monday when it slid by 0.6 per cent over just 450 shares to close the week at the €0.795 price level.
In the telecommunications sector, Go plc saw renewed buying interest as it advanced by just below two per cent, thus marking an 8.8 per cent on a year-to-date basis. Total volume for the week amounted to 32,650 which were executed over 16 trades to close the week at the €1.295 price level.
Similarly, Maltapost plc shares extended their push towards a further gain of 3.2 per cent over two sessions to close the week at highs of €0.98.
Both Midi plc and Simonds Farsons Cisk plc posted remarkable gains. The former soared by 5.6 per cent over two sessions to reach the €0.285 price level, while the latter rose by two per cent on Thursday to reach an all-time high of €2.55. Plaza Centres plc was up by a healthy 1.8 per cent over a high volume of 291,000 shares to close at €0.56.
Positive forecasts for 2013 might have triggered the two per cent gain registered by Malta International Airport plc. In fact, the airport operator announced its estimates for this year, in which passenger movements are expected to increase by 1.5 per cent to 3.7 million. Activity was carried out over 11 deals worth €57,003, while the equity closed at a price position of €1.795. In addition, the company has announced that the board of directors was scheduled to meet on March 23 to approve its financial statements for 2012 and consider a dividend.
In the IT industry, RS2 Software plc rose by 1.2 per cent in a single session to close at €0.86, while both Crimsonwing plc and 6pm Holdings plc closed flat at €0.54 and £0.31 respectively.
The other non-movers for the week were International Hotel Investments plc, Santumas Shareholdings plc and Island Hotels Group Holdings plc.
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, on telephone 2122 4410, or e-mail info@jesmondmizzi.com.