The Malta Stock Exchange index closed the week minimally lower by 0.03 per cent to end the week at 3,365.331 points.
The first two sessions of the week proved insufficient in maintaining last week’s knock-on position as the index was kicked by a scant pull-back in the following three sessions.
From the financial sector Bank of Valletta plc managed to trigger further buying support, while HSBC Bank Malta plc shifted itself into the red-zone.
Conversely, Simonds Farsons Cisk plc returned positively to the trading desk following three weeks of inactivity.
In the week, non-movers were in the limelight, as from the 16 active equities eight closed in a flat position, five edged lower, while three managed to capture upside positions.
Glancing through the numbers, total turnover for the week reached €879,999, traded over 128 transactions which consisted of 822,193 shares.
Meanwhile, from the local sovereign debt market, activity was dealt over 20 issues which were traded over a total turnover of €14.5 million.
On Monday, the Treasury announced its results with regard to the latest debt issuance. It was reported that there was a strong demand both by members of the public and by institutional investors, totalling to a nominal value exceeding €282.5, thus an over-subscription of just under €113 million.
In addition, the Treasury also confirmed that all subscriptions submitted by members of the public, which amounted almost to €149 million, will be accepted in full.
From the equity segment, Bank of Valletta plc topped its share value by a further 0.6 per cent, thus ending the week at €2.249. The highly capitalised bank garnered support in the first three sessions of the week which proved determinant in off-setting the 0.2 per cent loss incurred in the two subsequent sessions. The equity was active over 95,638 shares which were dealt over 43 transactions.
From the same sector, HSBC Bank Malta plc shaved-off 0.6 per cent from last week’s appreciation over two sessions to close at €2.63, while Middlesea Insurance plc declined by 1.2 per cent on Thursday to close at €0.84.
Meanwhile, the other active financial, FIMBank plc closed flat at $1.00 despite turnover surpassing 215,000 shares. On Thursday, the bank announced that it had been informed that Massaleh Investments and Kuwaiti Interests for Developing Holdings, which are currently shareholders in FIMBank, agreed the transfer of their shares to Burgan Bank and UGB, subject to certain terms and conditions.
On a sour note, sellers re-affirmed control over Go plc as the equity captured a 1.8 per cent loss to close the week at the €1.55 price level. The equity was active over two sessions in which 7,000 shares changed hands over four transactions.
Similarly, from the hoteliers sector, International Hotels Investments plc turned minimally lower by 0.1 per cent over 16,000 shares to end the week at the €0.899 price level.
Island Hotels Group Holdings plc, also, closed the week notably lower by 5.5 per cent after shifting from weekly highs of €0.589 to the closing price of €0.52 on a total turnover of 247,000 shares.
On a positive note, Simonds Farsons Cisk plc gained 0.4 per cent on Monday to close the week at €2.57. On Wednesday the company announced that its 66th annual general meeting will be held on June 20, 2013. Among other resolutions on the agenda is the approval of the financial statements for the year ending January 31, 2013, in addition to the dividend recommended by the directors.
On the same positive note, Malita Investments plc advanced by 1.2 per cent on Tuesday to end the week at €0.525.
Meanwhile, Plaza Centres plc closed unchanged at €0.57 over 10,400 shares which were dealt across two transactions. On Monday, through an interim directors statement, the company stated that, from the initial days of 2013 till the date of the statement, the company’s financial position maintained satisfactory levels, in line with the directors’ expectations. In addition, it was noted that occupancy levels were below last year’s levels, which however should improve by the third quarter of this year.
Likewise, from the IT industry both RS2 Software plc and Crimsonwing plc closed the week unchanged. The former was active over three sessions as it reached an all-time high of €1.171, which it then retreated towards the unchanged levels of €1.16. The latter was active over 16,500 shares which were executed over three deals to close at €0.57.
Similarly, Maltapost plc closed flat at €1.05 over a single session, while Malta International Airport plc hooked itself towards the €2.00 price level, after trading at a weekly high of €2.01.
Finally, the other non-movers for the week were Medserv plc and Midi plc which stood at €3.90 and €0.25 respectively on minimal turnover.
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.