The Malta Stock Exchange (MSE) Index ended the week 0.14 per cent higher, to close at 3,476.779 points. Mixed trading during the week led to the index oscillating from negative to positive, with the last session determining the marginal gain. Both Crimsonwing and RS2 Software maintained their upward momentum, despite Malta International Airport (MIA) registering the highest gain.
Activity during the week was spread across 16 equities, of which half registered gains, four traded in negative territory, while another four closed the week unchanged. Total turnover stood at €863,832, representing an increase of 40 per cent on the previous week. The number of shares traded amounted to 605,262 across 180 deals.
In the domestic local sovereign front, investors opted in shifting their assets into more attractive returns, as from the 18 active stocks, 15 recoded higher yields as prices fell. Total value for the week amounted to just over €2.1m. Meanwhile, in the corporate bond market, turnover amounted to a value of €1.6m, with the BOV 4.8% 2018 bond representing 68 per cent of the amount traded.
In the financial sector, HSBC Bank Malta’s share price strengthened by a further one per cent to €2.625, following the gains registered in the last two sessions of the week, which offset the marginal loss of 0.2 per cent registered on Monday. Activity was based over 57,630 shares which were dealt over 27 transactions.
Its peer, Bank of Valletta plc sustained its three week winning streak by adding a further 0.3 per cent to its share value. The equity was active throughout the week with Tuesday’s gains proving to be a key source of support to the other sessions. Trading activity reached 112,485 shares which were executed over 59 transactions.
The other active banking equity was Lombard Bank plc, which closed the week unchanged at the €1.86 price level – trading value totalled €27,900.
Meanwhile, Middlesea Insurance plc plunged by 5.9 per cent on Thursday to close the week at €0.80 on a mere 200 shares in a single trade.
The best performer for the week was Malta International Airport plc (MIA), soaring 3.1 per cent to €2.02, as renewed buying interest was upheld following last week’s positive traffic results for the month of September. Turnover stood at €60,829, which were traded across four sessions.
In the telecommunications industry GO plc, snapped back from last week’s 1.3 per cent decline, as the equity registered a weekly gain of 1.7 per cent, or €0.025 to close at €1.495.
Despite trading at €1.99, RS2 Software plc (RS2) managed to hit a record closing price of €2.00 on Tuesday and Friday. The equity gained one per cent over 19 trades of 31,836 shares, to mark a four week winning streak. Meanwhile, on Thursday the company announced that Barclays Bank plc has acquired 4,250,000 shares representing 10 per cent of the company.
Similarly, Crimsonwing plc registered a weekly gain of 1.3 per cent to close at €0.78, after trading at an all time high of €0.79 on Thursday. A total of 143,050 shares changed ownership across 13 deals.
Simonds Farsons Cisk plc (SFC) rebounded from last week’s loss by gaining 1.8 per cent yesterday to close the week at €2.80.
Likewise, Medserv plc shares rose by 1.5 per cent to close at €3.30 over 9,000 shares which were traded over two deals.
International Hotel Investments plc declined by 2.2 per cent, as 10,000 shares pushed the price to €0.84 in Thursday’s session. Similarly, Maltapost plc slid by 1.9 per cent on Wednesday, to close at €1.05 on 17,000 shares.
Following four months of inactivity, Loqus Holdings plc returned to the trading desk with a sharp loss of 28.6 per cent, or €0.04 to close the week at €0.10.
Meanwhile the non-movers for the week were Plaza Centres plc, MIDI plc and Malita Investments plc, which closed at €0.56, €0.24 and €0.52 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: 21224410, or email info@jesmondmizzi.com