The Malta Stock Exchange (MSE) index headed higher for the second week running as several equities traded higher led by Midi plc followed by Maltapost plc. A handful of small caps also rose but banks barely contributed to last week’s gain as Bank of Valletta plc (BoV) was the only winner.

Go gained further ground while Middlesea Insurance plc was the week’s only loser. Given that last week’s gain was driven by several small caps the local index gained just 0.5 per cent to close the week at 3,230.435 points.

In turnover terms BoV was the most liquid issue as over €245,000 was traded in 65 deals while Plaza Centres plc followed with €160,000. During the week 17 equities were active, and the total trading value reached just over €1 million, down from €1.5m a week earlier.

In the fixed-income markets there was nearly €28 million worth of trading. The Malta Government Stocks market was the most liquid with €27.4m being traded across 25 issues. The 7.8 per cent MGS 2018 was the most liquid as €14m was dealt over seven trades.

Meanwhile demand for long-dated issues was much more contained as yields became less attractive given the recent price increases.

Meanwhile in the equity market, MIDI plc gained 5.6 per cent, or €0.015, as a significant 250,000 shares were traded. The equity, which was active in three trading sessions, gained on Monday and Friday but closed flat mid-week. Over the past four weeks the equity has gained 3.6 per cent.

In the banking sector, Bank of Valletta plc’s share price barely changed throughout the week and closed on Friday up by a mere 0.4 per cent.

The equity rose on Monday to close at €2.261 but swiftly returned to where it kicked off the week as demand waned. The equity returned to the €2.26 level in the week’s last two trading sessions, and as a result, the bank’s share price is up nearly four per cent year-to-date. Almost 110,000 shares were dealt across 65 deals.

On much lower volume HSBC Bank Malta plc closed flat at €2.70 despite trading at a weekly low of €2.68 on Thursday yet on just 5,000 shares. On Friday, demand improved to 11,000 shares and the equity returned to the €2.70 level. Over the week, trading volume fell to 50,000, down from 94,000 a week earlier.

Go plc shares continued to rise as the telecoms firm’s shares gained another two per cent. After starting the week flat, the share price gradually gained momentum to end the week at €1.295. Just under 33,000 Go shares were traded in 16 deals worth €42,000.

Investors await the company’s decision on whether it intends to take part in the rights issue that Forthnet intends to issue.

Malta International Airport plc (MIA) also closed the week up two per cent. On Tuesday the company announced its traffic forecast for 2013 and traffic results for 2012. MIA expects a 1.5 per cent rise in passenger movements in 2013. Last year’s total was 3.65 million passengers, which was an increase of just over four per cent over the 2011 figure.

MIA CEO Markus Klaushofer said 2012 was the third consecutive record year for the company. In 2012 MIA’s main markets were the UK, Italy and Germany respectively.

On Friday the company also announced that its board of directors is due to meet on March 20 to consider and approve the financial statements for the year ending December 31, 2012.

Maltapost plc rose 3.2 per cent, or €0.03, to close the week at €0.98. Trading volume in the postal operator reached 107,000 shares dealt in 15 transactions. The equity is among the best performing equities in the first weeks of the year with a gain of 15.3 per cent.

Back to the banking sector, Lombard Bank plc ended an uneventful week flat at €1.86 as seven deals of 24,000 shares were executed. Likewise, Fimbank plc closed unchanged at $1.02 after having surged 27.5 per cent a week earlier.

The bank will hold an extraordinary general meeting on Thursday for shareholders to approve a joint offer by two other banks – Burgan Bank and United Gulf Bank – to acquire a stake in Fimbank.

International Hotel Investments plc shares closed flat at €0.751 after touching a weekly high of €0.77 on Monday. But due to lack of demand the equity failed to find support and as a result returned to the previous week’s close. A total of 8,500 shares were traded in five deals.

In the IT sector RS2 Software plc gained 1.2 per cent on Friday to end the week at €0.86. After having closed unchanged in the previous sessions the equity moved higher on Friday following a surge in demand, as over 52,500 shares were traded. Throughout the week trading value in RS2 reached €53,000 dealt over 10 transactions.

Meanwhile, both Crimsonwing plc and 6PM Holdings plc closed the week unchanged at €0.54 and £0.31 respectively. Over 100,000 Crimsonwing shares changed hands in three sessions as the equity’s share price traded at a weekly high of €0.55, while one thin trade in 6PM failed to move the share price.

Simonds Farsons Cisk plc gained two per cent, or €0.05, as two transactions worth €12,000 were executed on Thursday.

Middlesea Insurance plc the only equity to lose value last week. Its share price shed 0.6 per cent to close the week at €0.795 as one small trade was executed.

Plaza Centres plc, the most active equity by volume, edged minimally higher to €0.56 after eight transactions of 291,000 shares.

Four small trades in Island Hotels Group plc left the equity’s price intact at €0.684 while Santumas Shareholding plc traded flat at €1.79 as one deal of 1,600 shares was executed.

This article, which was compiled by Jesmond Mizzi, managing director of Jesmond Mizzi Financial Advisors Ltd, 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 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 at 67, Level 3, South Street, Valletta, or on Tel: 2122 4410 or e-mail jesmond.mizzi@jesmondmizzi.com.

Sign up to our free newsletters

Get the best updates straight to your inbox:
Please select at least one mailing list.

You can unsubscribe at any time by clicking the link in the footer of our emails. We use Mailchimp as our marketing platform. By subscribing, you acknowledge that your information will be transferred to Mailchimp for processing.