Following two weeks of subsequent losses, the Malta Stock Exchange index managed to re-position itself in winning grounds with a gain of 0.3 per cent, thus ending the month with an appreciation of 1.2 per cent.
In line with the previous week, the index traded in a shortened week due to Good Friday, and swayed from positive to negative over a total value of €1.8 million. Total traded volume amounted to 1.3 million shares which were executed across 182 transactions.
In the week, the financial sector displayed impetus with Middlesea Insurance plc emerging as the prime gainer for the week, followed by HSBC Bank Malta plc. Likewise, bulls re-emerged within Go plc shares as the telecommunications equity traded higher for the third week in a row.
Conversely, the only draggers for the week were International Hotels Investments plc and Plaza Centres plc.
Meanwhile, in the Government Stocks market, domestic yields tended to move in line with German Bunds which on Thursday moved lower towards the 1.255 per cent level, the lowest level since August 2012. In fact, from the 22 active stocks, 16 gained ground, five declined, while one closed flat. Total turnover for the week was on high levels of €16.1m.
In the Corporate Bonds market, activity was dealt over 22 bonds which were traded across 752,790 nominal. The 4.8% BOV 2020 headed the list of gainers with a 0.9 per cent appreciation.
From the equity sector, Middlesea Insurance plc managed to regain a substantial amount from last week’s 11.1 per cent loss. In fact, in the last session of the week the insurance operator surged by 7.5 per cent to close the week at €0.86. Activity was based on low volumes of 500 shares which were dealt across a single trade. Meanwhile, on Thursday the company announced that its annual general meeting will be held on Friday April 19. Among other resolutions to be approved are the financial statements for the year ending December 31, 2012 and the declaration of a final gross dividend of €0.025 per share as recommended by the directors.
Likewise, HSBC Bank Malta plc, managed to halt its recent downward trend as it gathered a gain of 0.6 per cent to close the week at €2.736. The equity was active throughout the week, with Monday’s 1.1 per cent gain emerging as determinant towards the end of a positive week as the equity slid by 0.5 per cent in the last two sessions of the week. The bank had the lion’s share as total trading value amounted to €462,895 traded across 168,446 shares.
On a similar note, Lombard Bank plc share value was topped by a further 0.1 per cent over a single session to touch the €2 price level. Accounting for this week’s gain, the banking equity managed to close the month with a remarkable gain of 6.3 per cent.
Meanwhile, the other active banks were Bank of Valletta plc and FIMBank plc which both closed flat at €2.25 and $0.99. The former was active throughout the week, in which it rose exponentially over the first three sessions to touch a weekly high of €2.299. It then drifted lower by 2.1 per cent on Thursday to register a loss of 1.1 per cent on a monthly basis. Meanwhile, activity in FIMBank shares was notable as volumes of 278,387 shares were dealt across six transactions.
From the aviation industry, Malta International Airport plc bounced back from last week’s loss as it advanced by 1.1 per cent on the week to close the month at the €1.86 price level and thus registering a gain of just below four per cent. Despite heading southwards by 1.5 per cent on Thursday, the total gains of 2.7 per cent registered over the other two sessions proved sufficient and thus ending the week on a higher note.
Similarly, Go plc shares advanced by a further 1.8 per cent, thus heading the list of gainers on a monthly basis with a gain of 13.8 per cent. The equity was active over 57 trades which consisted of 261,080 shares to close the week at €1.599.
Other gainers for the week were Maltapost plc and Midi plc. The former rose by just below two per cent after trading at a weekly low of €1 to close at €1.04, while the latter added 0.3 per cent to its value over 86,967 sharers to end the week at €0.315.
From the IT sector, Crimsonwing plc soared by 5.6 per cent on Tuesday to move towards the €0.57 price level, while RS2 Software plc gathered a 1.1 per cent rise over seven transactions worth €63,302, to close at €0.92.
Meanwhile on a sour note, International Hotels Investments plc shaved-off 1.9 per cent over 4,500 shares to end the week at €0.775, while Plaza Centres plc plummeted by 4.4 per cent over five deals of 45,500 shares. Finally, the other non-mover for the week was Malita Investment plc which closed flat at €0.51.
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.