The Malta Stock Exchange index registered five consecutive days of gains, closing the week 1.88 per cent higher at 3,357.495 points.

Activity was spread across 17 equities of which eight gained ground, two fell and seven closed unchanged. BOV shares were the best performers, while Tigne Mall headed the list of fallers.

Bank of Valletta plc shares witnessed the highest turnover by value over the week, amounting to €242,890. The banking equity added on to last week’s gains as it increased by a further 4.9 per cent having oscillated between a weekly low of €2.15 and a weekly high of €2.265, to ultimately close at €2.26.

Similarly, HSBC Bank Malta plc shares registered a gain for the fourth consecutive week having advanced by a further two per cent over 13 transactions of 30,181 shares, to close at its weekly high of €2.04.

Likewise, Lombard Bank Malta plc shares appreciated by €0.04 or 2.6 per cent across four deals of 11,313 shares, closing at €1.60.

Meanwhile, FIMBank plc shares closed unchanged at $0.655 as five trades of 25,485 shares were struck.

Go plc shares rose by a marginal 0.04 per cent across 10 deals of 41,069 shares, closing at €2.49. Go is the best performing equity so far this year having rallied by 36.4 per cent throughout 2014. The company announced that it has obtained regulatory approval from the Competition Authority in Cyprus to proceed with the implementation of the share purchase agreement for the purchase of 25 per cent of the issued share capital of Cablenet Communications Systems Limited (Cablenet) from Mr Shiacolas. The company agreed to provide a loan to Cablenet for an amount of €12 million convertible into equity at the option of the company so that, upon such conversion, the total number of shares held by Go will be equal to 45 per cent of the issued share capital of Cablenet.

Malta International Airport plc shares soared by €0.05 or 2.2 per cent across two transactions of 2,300 shares, closing at €2.30. The local airport operator hosted 8.6 per cent more passengers in August than it did during the same month last year, making this the busiest month in history. In August 2014, MIA welcomed a total of 551,179 passengers, which is equivalent to a 100,000 more people than the entire Maltese population.

In the IT sector, RS2 Software plc shares climbed by a further €0.04 or 1.5 per cent over five deals of 5,104 shares, to close at a record high of €2.79. Meanwhile, both 6PM Holdings plc and Crimsonwing plc shares closed the week unchanged at £0.72 and €0.81 respectively. The former was negotiated across a sole transaction of 1,340 shares, while the latter was executed over one trade of 1,100 shares.

The other non-movers for the week were Middlesea Insurance plc, International Hotel Investments plc, GlobalCapital plc and Medserv plc shares as they all closed unchanged at €0.93, €0.64, €0.80 and €1.275 respectively.

On a negative note, Tigne Mall plc shares slid by 1.9 per cent over six trades of 255,000 shares, closing at €0.515.

Likewise, a Plaza Centres plc share slipped by 1.7 per cent as a single transaction of 160,000 shares was processed, to close at €0.59.

Simonds Farsons Cisk plc shares partially recouped last week’s losses edging 0.4 per cent higher over one deal of a mere 394 shares, to close at €2.71. Similarly, Malita Investments plc shares strengthened by 3.7 per cent across nine deals of 208,500 shares, closing at €0.56.

Santumas Shareholdings plc announced that the board of directors of the company agreed to submit an application to delist its shares from the MSE under its current format as a Collective Investment Scheme and simultaneously apply to the Listing Authority to list its shares as a property holding company in terms of Chapter 7 of the Listing Rules. An annual general meeting will be convened on September 24, at which, the following resolutions will be considered and, if thought fit approved the profit and loss account and balance sheet of the financial year ended March 31, 2014; to re-denominate the nominal value of the share capital of the company from €0.582343 to €0.55 per share and accordingly change the authorised share capital of the company from €2,329,372 divided into four million ordinary shares of €0.582343 each to €2,329,372 divided into 4,235,222 shares of a nominal value of €0.55 each; to increase the share capital from €969,703.59 to €1,007,443.80 through the capitalisation of revaluation reserves in the amount of €37,740.21, and to issue the equivalent number of fully paid up shares of a nominal value of €0.55 per share to shareholders who have last traded on the September 3, 2014 and appear on the register of members of the company as at September 9, 2014 at the ratio of one bonus share for every 10 ordinary shares held. The equity was not active this week.

In the corporate bond market turnover amounted to €1.9 million spread across 24 issues of which 10 gained ground, five edged lower and nine closed unchanged. The 5.8% International Hotel Investments plc 2021 was the worst performer as it declined by 2.1 per cent. On Thursday, IHI reported that the company repurchased 168,300 of its own 6.25% bond maturing in 2017-2020 from its bondholders.

In the sovereign debt market 25 issues were active of which 17 rose and eight declined. Total turnover amounted to just under €7.9 million. The recently issued 4.1% MGS 2034 (I) r was the most liquid and best performing issue as it witnessed a turnover volume of €3.7 million nominal and closed the week 0.7 per cent higher at €105.75.

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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