The Malta Stock Exchangeindex yesterday extended last week’s positive performance by a further 0.85 per cent, closing at 3,605.523 points.
Trading only took place on two days during this festive week – both days ended with a gain of 0.229 per cent and 0.621 per cent on Monday and yesterday respectively.
The index has appreciated 12.3 per cent this year with one session to go.
Activity was spread across 16 equities of which eight gained, two fell and six closed unchanged.
The best performing equity for the week was Go plc as it rallied by 2.8 per cent, while Crimsonwing plc shares stumbled by 3.4 per cent.
Malta International Airport plc shares also marked a €0.05 or 2.4 per cent gain across 11 trades of 10,185 shares on Monday, to close at an all-time high of €2.15 – marking a year-to-date gain of 19.4 per cent.
Similarly, Maltapost plc gained 1.3 per cent to close at a record high of €1.15. The equity was negotiated over a single trade of a mere 20 shares yesterday.
Go plc share price registered a 2.8 per cent gain over 11 transactions of 41,299 shares, closing €0.05 higher at €1.809 – a price last reached in February 2011. On Tuesday, the company reported that the prospectus supplement for the share capital increase of Forthnet S.A. – the Greek telecommunications company in which Go owns indirect equity – with pre-emption rights in favour of existing shareholders and the trading of new shares on the Athens Stock Exchange, resolved by the extraordinary general meeting of its shareholders dated August 23, 2012, which was approved by the Capital Market Commission on Monday, has been available to the investing public from last Tuesday. In total, up to 97,144,575 new common registered shares will be issued with a nominal value of €0.30, at the issue price of €0.30 for each new share, while it is expected that the raised funds will amount to €29 million.
In the banking industry, both Bank of Valletta plc and HSBC Bank Malta plc (HSBC) appreciated by 1.1 per cent and 1.2 per cent respectively. The former witnessed 27 deals of 58,936 shares, to close €0.029 higher at €2.629. Nine trades of 5,600 shares executed in HSBC, saw its share price close €0.03 higher at €2.60 – a one month high.
Meanwhile, FIMBank plc traded flat on Monday at $0.975 across a single trade of 1,958 shares.
On the negative side, the IT equities partially offset some of last week’s gains.
Crimsonwing plc surrendered €0.03 or 3.4 per cent of its share price as 60,000 shares changed ownership across two deals, to close at €0.85.
Likewise, 6PM Holdings plc shares dropped by 2.8 per cent over three trades of 12,900 shares, closing at £0.70.
Meanwhile, RS2 Software plc closed the week unchanged at €2.28 as five deals of 42,368 shares were struck. Despite having experienced a negative week, these IT equities were the best performing equities year to date. Year-to-date Crimsonwing gained 73.5 per cent, 6PM appreciated by 134.9 per cent and RS2 rallied by 227.6 per cent.
The other non-movers for the week were Middlesea Insurance plc, Simonds Farsons Cisk plc, Medserv plc and Malita Investments plc as they all traded flat at €0.90, €2.85, €1.35 and €0.53 respectively.
International Hotel Investments plc marked a 0.1 per cent gain as four deals of 7,500 shares took place, closing at €0.84.
Likewise, Island Hotels Group Holdings plc edged 0.1 per cent higher as 19,500 shares changed hands over four deals to close at €0.90 after having touched a weekly low of €0.85. Similarly, Plaza Centres plc increased by 0.9 per cent across two transactions of 1,800 shares yesterday, to close the week at €0.575.
In the corporate bond market four issues were active of which the 7% Grand Harbour Marina plc 2017-2020 and the 5.8% International Hotel Investments plc 2021 increased by 0.2 per cent and 0.01 per cent respectively, while the 5.6% GlobalCapital plc 2014/2016 and the 6% Medserv plc secured and guaranteed € Notes 2020-2023, both closed unchanged at €85 and €105.20 respectively. Total turnover amounted to €49,231.
On the other hand, in the sovereign debt market activity was spread across 15 issues of which twelve marginally slipped and three gained ground. Turnover amounted to over €1.6 million. The long-dated 4.8% MGS 2028 (II) headed the list of gainers as it appreciated by 0.2 per cent, while the 6.6% MGS 2019 slipped by 1.2 per cent. Meanwhile, the most liquid issue for the week was the 4.6% MGS 2020 (II) as it witnessed a traded volume of €750,000 nominal.
We wish our readers a Prosperous New Year.
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.