The Malta Stock Exchange (MSE) Index increased by a slight 0.07 per cent throughout this week, to close at 3,679.306 points. Twenty equities were active, of which 13 edged higher, three fell and four closed unchanged as turnover reached €1.9 million.

The best performer for the week was Loqus Holdings plc as it advanced by 7.1 per cent, while Island Hotels Group Holdings plc (IHG) was the worst performer as it stumbled by 7.6 per cent.

GO plc shares experienced an active week with significant trading during every session. A total of 19 trades of 59,488 shares were executed to close at €1.85 – €0.01 below its weekly high – gaining 1.4 per cent on the week. The company reported that Forthnet SA (the Greek telecommunications company in which GO plc has indirect equity) notified its shareholders of the successful completion of the increase of its share capital. Therefore, Forthnet’s share capital has increased by €29,143,372.50 through the issuance of 97,144,575 new registered ordinary shares, each having a nominal value of €0.30. Thus, the company’s share capital will amount to €33,029,155.50, divided into 110,097,185 ordinary registered voting shares, each having a nominal value of €0.30.

In the banking sector, Lombard Bank Malta plc headed the list of gainers for the week as its shares rallied by €0.04 on a single transaction of 3,000 shares struck on Tuesday – closing 2.2 per cent higher at €1.85.

Similarly, HSBC Bank Malta plc rose by one per cent over 33 deals of 131,396 shares, closing at its weekly high of €2.60.

Meanwhile, Bank of Valletta plc closed the week unchanged at €2.65 as 101 trades of 202,367 shares were negotiated.

On a positive note, FIMBank plc shares stepped 0.5 per cent higher as four trades of 78,058 shares were struck, closing at $0.98. The board of directors of the bank is scheduled to meet on March 11 to consider and approve the group’s and the bank’s audited accounts for the financial year ended December 31, 2013 and the declaration of a dividend, if any, to be recommended to the Annual General Meeting of shareholders.

Malta International Airport plc share price soared by €0.04 or 1.9 per cent, to close the week at an all-time high of €2.20. The equity was negotiated across 10 trades of 14,420 shares. Similarly, Plaza Centres plc strengthened by 4.4 per cent as 122,600 shares exchanged hands over 10 deals, closing at €0.60. Meanwhile, Tigne Mall plc closed the week unchanged at €0.515 as volume traded reached 364,000 shares.

The other non-movers for the week were MaltaPost plc and Malita Investments plc closing the week at €1.15 and €0.53 respectively. The former witnessed five trades of 7,079 shares, while the latter was executed over two transactions of 10,000 shares.

Equities in the hotel industry took quite a hit this week: IHG sank by €0.07 or 7.6 per cent across four trades of 17,500 shares, closing at €0.85. Likewise, International Hotel Investments plc shed 3.2 per cent of its share price, to close at €0.92. The company has entered into an agreement with the Libyan Foreign Investment Company to set up a joint stock company that will own a mixed-use development, incorporating the five-star Corinithia Hotel in Benghazi. The hotel is planned to have an inventory of 259 rooms and suites, 10,000 square meters of retail space, two restaurants, meeting rooms, banqueting halls, a spa and a business centre. The project is planned to be completed in mid-2017.

Crimsonwing plc was the most liquid equity for the week as trading witnessed a volume of 453,187 shares: its share price, however, took a pull back as it fell by €0.05 or 5.9 per cent, to close at €0.80. Conversely, 6PM Holdings plc increased by 4.2 per cent across four trades of 25,000 shares, closing at £0.719. Likewise, RS2 Software plc shares gained 2.2 per cent over 12 transactions of 19,520 shares, to close €0.05 higher at €2.30. Meanwhile, Loqus Holdings plc edged 7.1 per cent higher as six transactions of 37,910 shares changed hands, closing at €0.091.

On Thursday, Middlesea Insurance plc increased by 1.2 per cent across a sole trade of only 600 shares, to close at €0.911. MIDI plc climbed by 3.5 per cent over three deals of 51,300 shares, closing at €0.30. Meanwhile, Grand Harbour Marina plc rebounded by €0.03 or 1.7 per cent as two transactions of 6,195 shares were struck, closing at €1.85. Similarly, Medserv plc partially recouped last week’s losses as it closed 1.6 per cent higher at €1.30. The equity was active on Tuesday across three trades of 38,000 shares.

In the corporate bond market activity was spread across 18 issues in which five lost ground, four edged higher and nine closed unchanged. Turnover amounted to €527,300. The 6% Simonds Farsons Cisk plc 2017 – 2020 was the main laggard as it declined by 2.9 per cent. On the other hand, in the sovereign debt market investors were bullish on long-dated issues. The most liquid issue for the week was the recently issued 4.65% MGS 2032 (I) r as volume traded amounted to over €2.04 million, locking an increase of €0.13.

Meanwhile, total turnover in the local sovereign debt market exceeded €7.9 million.

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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