Following last week’s notable appreciation, the Malta Stock Exchange index shaved off 0.4 per cent from its value to close the week at 3,446.806 points.

In the week investors turned their backs towards the local index, as the latter recorded losses in the first four sessions of the week, while it then managed to snap back a minimal appreciation in yesterday’s session.

From the equity front, Crimsonwing plc extended its bullish momentum with a remarkable gain, while banking equities shifted towards a bearish mode with both Bank of Valletta plc and HSBC Bank Malta plc closing the week on a lower note.

Sighting through this week’s figures, total trading value reached €675,026 traded over 13 equities, in which losers reigned over gainers as seven declined in value, two captured upright positions, while four closed unchanged.

Total trading volumes amounted to 583,764 shares, which were executed over 104 transactions.

Meanwhile, from the domestic sovereign front, yields opted for diverting positions, as investors opted for a twofold approach, in which some upheld their risk-taking position while others re-shifted their assets towards safer heavens following Thursday’s relatively disappointing meeting by the European Central Bank, which failed to provide further monetary stimulus.

Turnover for the week reached €2 million traded over 21 stocks.

From the fixed-income front, activity was based over 13 issues, which were traded over 284,295 nominal. The main gainer for the week was the 6.7% AX Investments issue, which gathered a 1.5 per cent appreciation.

From the financial front, Bank of Valletta plc trimmed 0.9 per cent from last week’s notable gain, as lack of conviction prevailed in the first four sessions of the week. In fact, the equity touched weekly lows of €2.30, while it then managed to rebound by 0.8 per cent in yesterday’s session to end the week at the €2.32 price position.

On Thursday, the company announced that, during the period under reviewed which commenced from April 1, 2013 till date, no material or transactions have impacted the company’s financial position. In this regard, the bank stated that, despite low-key economic activity continuing to take place, with demand for credit remaining subdued, deposits grew at a modest rate. In addition, the company continued by stating that it will retain its cautious approach towards provisioning, in line with both local regulators and those at a European level.

Likewise from the same line of business, HSBC Bank Malta plc shares lurched lower by 0.7 per cent over shy volumes of 41,183 shares to close the week at €2.701.

Meanwhile, FIMBank plc returned to the $0.99 price level, after capturing a one per cent decline over a single session of 5,000 shares, while Lombard Bank plc closed flat at the €1.85 price position. On Monday the former announced that it had issued 36,254,567 shares to UGB in full and final settlement of the bank’s obligations under Tranche A of the previously agreed loan.

From the telecommunications sector, Go plc shares sheared off 0.6 per cent from last week’s 7.8 per cent appreciation to close the week at €1.65. The equity was active over 49,359 which were traded over 22 transactions.

On a more positive note, following its recent volatile position Island Hotels Group Holdings plc shares surged by 4.6 per cent on Tuesday, thus closing the week at €0.69.

Meanwhile, from the same sector International Hotels Investments plc closed flat at €0.89 over two trades worth €1,780.

Similarly, Crimsonwing plc continued to display impetus with a further gain of €0.05 or 7.8 per cent to close at €0.69, thus marking a year-to-date appreciation of 40.8 per cent. The software developer was active throughout the week in which it marked the said gain on Monday, while it then closed unchanged in all subsequent session.

On a negative note, Maltapost plc declined by just below three per cent, thus incurring a loss of 4.8 per cent over the past three consecutive sessions. The postal operator closed the week at the €1.00 price level.

Meanwhile, the other losers for the week were Santumas Shareholdings plc and Medserv plc. The former depreciated by 2.7 per cent to close the week at €1.80, while the latter captured a 2.6 per cent loss over a mere of 298 shares to close at €3.70.

Finally, the other non-movers for the week were Malta International Airport plc and Malita Investments plc, closing unchanged at €2.04 and €0.51 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.

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