Index is marginally down with increased turnover
The Malta Stock Exchange index halted its four-week consecutive positive performance, with the index retreating by a minimal 0.25 per cent, to close at 3,315.828 points.
The Index registered a rise only yesterday, while having declined throughout the rest of the week. This negative performance was mainly due to a decline of seven out of the 16 active issues, while three other equities registered gains and the remaining six remained unchanged.
Trading activity in the week rose to just over €1.49 million dealt across 122 deals.
Meanwhile, turnover in the Government Stocks market declined to €7.3 million traded over 24 issues. Short-dated MGSs saw their yields rise, while long-dated MGSs saw their yields decline as prices rose.
Turnover in the Corporate Bonds market amounted to €918,467, dealt over 18 issues. The 6.75% United Finance plc 2014-2016 was the worst performer of the week as it declined by 1.94 per cent.
From the banking sector, only Lombard Bank plc managed to retain last week’s share price. The equity traded twice flat at €1.915 during the week, as 8,860 shares changed hands across three deals. On Thursday, the company published its financial statements for the year ended December 31, 2012. The group registered a decline both in profit before tax as well as net interest income. The former fell by 16.7 per cent to €9.4 million, while the latter totalled €13.8 million, a decline of 2.7 per cent. The board of directors recommended the payment of a net dividend of €0.078 per share to be paid on April 30, 2013, as well as a bonus issue of one share for every 10 shares held.
In contrast, Bank of Valletta plc’s share price closed the week in negative territory. In fact, the equity fell by 1.5 per cent, or €0.035, closing at €2.25, having traded at a high of €2.298 and a low of €2.23. A total of 211,343 shares were dealt over 45 deals, for a value of approximately €477,500. The equity commenced the week in positive territory, but this was followed by three consecutive negative sessions. However, a gain of 0.9 per cent yesterday reduced the weekly loss.
Similarly, FIMBank plc registered a fall of $0.02 or two per cent, closing the week at $0.98, as 416,193 shares were executed across 14 trades. Likewise, HSBC Bank Malta plc’s share price declined marginally by 0.04 per cent, as 56,690 shares were traded over 12 deals, with the share price closing at €2.749.
Meanwhile, Malta International Airport plc (MIA) was the best performer for the week. MIA’s share price soared by just under five per cent, or €0.09, following last week’s traffic results announcement and following and interview with The Times in which the CEO stated that MIA is considering building a second office block. As a result the share price reached the €1.90-level, with 6,563 shares being exchanged over seven deals.
From the IT sector, both 6pm Holdings plc and Crimsonwing plc maintained last week’s closing share price of £0.45 and €0.54 respectively. The former registered two deals of 10,000 shares, remaining the best performer for the year at 45.2 per cent, while the latter saw 61,838 shares changing hands across three trades. Meanwhile, RS2 Software plc registered a rise of 0.56 per cent, closing at €0.905, as 124,042 shares were executed across five deals.
In contrast, MaltaPost plc’s share price edged lower by 2.86 per cent to €1.02, as volume reached 165,000 shares on two deals. Likewise, Simonds Farsons Cisk plc lost 1.92 per cent on Tuesday, to close the week at €2.55 on two deals of 51,995 shares.
International Hotel Investments plc (IHI), Plaza Centres plc and Malita Investments plc traded flat at €0.79, €0.58 and €0.51 respectively. The highest turnover was registered in IHI shares, having registered a single deal of 13,000 shares. During the week, Plaza Centres published its financial statements for the year ended December 31, 2012. The company registered a rise both in profit before tax as well as revenue. Profit before tax increased by 1.4 per cent to €1.33 million, while revenue amounted to €2.25 million, a rise of 2.4 per cent. The board of directors recommended the payment of a net dividend of €0.0247 per share to be paid on June 5, 2013.
On the other hand, Go plc shares recouped last weeks decline of 0.4 per cent, as this week the equity’s share price recorded a rise of just under 0.8 per cent. Its share price fluctuated between €1.41 and €1.385, but finally closed at €1.41, the highest level in 23 months. Turnover amounted to approximately 23,500 shares across 18 trades.
On the contrary, both Island Hotels Group Holdings plc and MIDI plc registered marginal declines in their share prices, closing the week at €0.648 and €0.314 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 [email protected].