Following last week’s minimal loss, the Malta Stock Exchange index managed to snap back the 0.1 per cent decline, as it registered a gain of 0.2 per cent to close the week at 3,248.32 points.
The index experienced a relatively negative week as selling pressure was applied in three sessions which, however, were overlapped by the gain of 0.8 per cent which was registered across Monday and yesterday’s sessions. In fact, that gain proved determinant in closing the week on a positive tone.
Banks emerged as a key source of support with both Bank of Valletta plc and HSBC Bank Malta plc registering modest gains, while International Hotels Investments plc turned minimally positive following weeks of declines. Conversely, 6PM Holdings plc headed the list of losers with a remarkable loss.
The week was characterised by 18 active equities, in which gainers prevailed over losers, as five garnered support, four lurched lower, while nine closed flat. Turnover for the week totalled €989,893 traded over a total of 655,426 shares which were executed over 165 transactions.
Meanwhile, in the Government Stocks market, investors took divergent positions as, from the 24 active stocks, 16 experienced a rise in yields, while eight experienced an appreciation in value. Total turnover for the week amounted to €9.6 million.
Yesterday, the Treasury announced a new debt issuance with an aggregate amount of €120 million. The issues are the 3% MGS 2019 and the 4.5% MGS 2028. Applications are open from Monday, February 25 up to Wednesday, February 27.
In the Corporate Bonds market, activity was dealt across 24 issues with the 5.6% Global Capital plc issue being the prime loser as it faltered by five per cent.
From the banking sector, contrary to the previous week, Bank of Valletta plc shares managed to cancel the 0.7 per cent loss by returning to the level of €2.28 with a 0.8 per cent gain. The equity was active throughout the entire week in which it had the lion’s share as total trading volume amounted to 143,351 shares over 50 deals.
Likewise, in line with its peer, HSBC Bank Malta plc marked a further gain of 0.2 per cent, thus posting 1.5 per cent over the past three sessions. The banking equity was active throughout the whole week where it swayed from positive to negative over a total of 52,797 shares to close the week at €2.74.
On the contrary, from the same sector, FIMBank plc shaved-off just below two per cent from its recent rally to close the week at the $1.00 price position. The dollar-denominated equity was active over five deals which consisted of 23,272 shares.
The other active financial equities were Lombard Bank plc and Middlesea Insurance plc which closed flat at €1.89 and €0.79 respectively.
From the hoteliers sector, International Hotels Investments plc returned to winning grounds following its recent bearish trend. The equity posted a scant of 0.1 per cent yesterday to close the week at €0.741. A total of 4,095 shares changed hands over three transactions.
The other gainers for the week were Grand Harbour Marina plc and Plaza Centres plc.
The former emerged as the prime gainer with a notable surge of 3.3 per cent to close the week at the €1.88 price level, while the latter captured a 0.9 per cent appreciation over 7,000 shares to re-position itself towards the €0.585 level.
Conversely, Malta International Airport plc upheld its negative position by posting a further loss of 0.7 per cent. The airport operator reported the loss over two sessions, while it closed flat on Monday. A total of 13 trades worth €63,580 were registered to end the week at €1.776.
Similarly, Malita Investments plc marked a loss of just below one per cent on Tuesday to re-touch the €0.52 price level.
From the IT sector, 6PM Holdings plc emerged as the primary laggard for the week as its share value plummeted by 6.5 per cent. The Sterling-denominated equity was active yesterday in which 40,260 shares changed ownership to close the week at £0.29.
From the same sector, both Crimsonwing plc and RS2 Software plc ended the week in a flat position. The former closed at €0.55 after trading at an intra-week low of €0.549, while the latter stood at the €0.86 level over a single deal of 10,667 shares.
Meanwhile, both Go plc and Simonds Farsons Cisk plc ended the week unchanged. The telecommunications equity halted its recent 19-month high as it closed unchanged at €1.38, after trading at a intra-week low of €1.33, while the beverage operator maintained the €2.58 level over a single session.
Finally, the other non-movers for the week were Santumas Shareholdings plc, Island Hotels Group Holdings plc and Midi plc which all closed flat at €1.79, €0.65 and €0.26 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.