The Malta Stock Exchange (MSE) Index ended the week in negative territory as it closed 0.3 per cent lower to 3,466.261 points, following three weeks of gains. Meanwhile, on the fixed-income front, the Government of Malta announced that it will be issuing two new stocks maturing in 2019 and 2032, paying a coupon of three per cent and 4.65 per cent respectively.

During the week, 14 equities were traded, with gainers standing at four, while losers and non-movers tallied at five. Turnover increased by more than 18 per cent when compared to last week’s €863,832, totalling €1.02m – 159 deals were executed with the number of shares traded reaching 682,680.

On the sovereign debt front, in line with last week’s position, investors maintained their sell-off momentum as out of the 24 traded issues, 20 lost ground – pushing yields higher as prices fell. Turnover for the week shot up to €28.3m compared to last week’s turnover of only €2.1m. As stated above, The Accountant General is offering an aggregate €120m of Malta Government Stocks subject to an over-allotment option of €60m. The prices of the stocks will be announced on Thursday, October 24, and the offer opens on Monday, October 28.

On the corporate bond front, turnover shrunk from last week’s €1.6m to €892k, with activity taking place across 10 stocks. The newly listed Medserv plc 6 per cent bond issue kicked off its activity on the trading desk on Tuesday, to close the week 3.8 per cent higher.

In the equity market, Crimsonwing plc continued to sustain its upward trend as it registered further gains on the four trading sessions during which it was active. The highest gain of 2.5 per cent was made on Wednesday across three transactions of 12,500 shares, after which it closed at a new record high of €0.825 on Thursday. The company’s Annual General Meeting was held on Wednesday, during which the shareholders approved the final gross dividend of €0.01 per share. The dividend is payable in either cash or in shares to shareholders on the company’s register as at October 22, 2013.

RS2 Software plc marginally lost ground during the first two trading sessions of the week, after which it rebounded to its all time high of €2.00 to end the week unchanged.

International Hotel Investments plc (IHI) was active throughout the entire week, whereby the only movement was noted on Thursday’s session, contracting by 1.2 per cent, to close the week at €0.83.

Malta International Airport plc (MIA) lost its recent upward momentum, as it opened the week one per cent lower, followed by a further 1.5 per cent decline during Thursday’s session, closing the week 2.5 per cent lower at €1.97.

A single deal of a mere 50 shares in Middlesea Insurance plc, completely reversed last week’s losses, strengthening its share price by 6.3 per cent to €0.85.

MaltaPost plc was active on three sessions, reaching a mid-week high of €1.10, but reversing this gain during yesterday’s session, to finally close the week unchanged at €1.05.

HSBC Bank Malta plc (HSBC) and Bank of Valletta plc (BOV) took different directions. The former erased last week’s one per cent gain, while the latter advanced by 0.6 per cent – marking its fourth week of consecutive gains. HSBC was traded over 21 deals of 68,251 shares and a total trading value of €179,568. Selling pressure snapped a three week winning streak, pushing the price down to €2.62. On the other hand, trading in BOV shares represented 30 per cent of total trading value this week, as the buying interest witnessed over the past weeks pursued, ahead of the company’s financial results which are to be published in the coming weeks.

The share price of the telecommunications company GO plc, slipped by 0.3 per cent to €1.49.

Tigne Mall plc inched 0.4 per cent higher during yesterday’s session, to close the week at €0.512. The last mover for the week was Medserv plc, erasing completely last week’s 1.5 per cent gain, as four transactions of 21,838 shares dealt on Wednesday pushed the price back to €3.25.

Plaza Centres plc closed the week unchanged at €0.56 after trading on Thursday failed to sustain Monday’s 3.6 per cent gain. The other non-movers for the week were MIDI plc and Malita Investments plc, closing at €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

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