The Malta Stock Exchange (MSE) index partially recouped last week’s negative performance as it gained 0.12 per cent, to close at 3,342.651 points.
Activity was spread across 14 equities of which seven gained ground, two declined and five closed unchanged. Middlesea Insurance plc shares were the best performers for the week, while FIMBank plc shares suffered the worst drop.
In the banking industry, both Bank of Valletta plc and HSBC Bank Malta plc (HSBC) shares reversed some of last week’s losses as they advanced by 0.8 per cent and 0.3 per cent respectively.
The former witnessed 24 deals of 103,788 shares, to close at €2.249, while HSBC was the most liquid issue this week as 26 trades worth almost €260k were executed to close at €1.965.
Similarly, Lombard Bank Malta plc shares increased by a marginal 0.06 per cent over eight transactions of 39,794 shares, to close at €1.70. Conversely, FIMBank shares stumbled by a significant 9.1 per cent across four deals of 3,401 shares, closing at $0.60.
Crimsonwing plc was the only other negative performer this week as its share price slipped 1.4 per cent on one deal of 418 shares to close at €0.789. In the same sector, 6PM Holdings plc shares traded flat at £0.72 over nine trades of 81,941 shares.
The other non-movers for the week were GO plc, International Hotel Investments plc, Malita Investments plc and Tigne Mall plc closing at €2.68, €0.60, €0.56 and €0.525 respectively.
Investors showed a bullish attitude towards Middlesea Insurance plc (Middlesea) shares as they rallied by an impressive 6.4 per cent on the week as 11 trades of 18,685 shares were struck, closing €0.06 higher at €1.
This equity started the week with a 7.5 per cent decline to recover 15 per cent during Friday’s session after the company released its interim director’s statement for the third quarter of 2014. The results of the group as at the end of the third quarter of 2014 reflected positive sale trends and strong performance that was previously reported in the interim half-year review of results issued earlier this year.
These results continue to strengthen the solvency position of Middlesea, which remains well above the regulatory requirement.
Technical results of the holding company remain satisfactory in spite of inherent risks and market competition. Financial markets delivered positive returns and hence satisfactory return yields on the group’s investment portfolios, particularly MSV Life plc, were reached. Likewise, Simonds Farsons Cisk plc shares soared by €0.072 as a sole trade of a mere 850 shares was negotiated, closing 2.5 per cent higher at €2.972.
Malta International Airport plc shares fully erased last weeks decline as they edged 0.4 per cent high over 16 transactions of 86,299 shares, closing at €2.35.
On a similar note, Medserv plc shares climbed by 1.5 per cent over seven deals of 100,400 shares to close at €1.32.
In the corporate bond market turnover amounted to €655,505.
A total of 26 issues were active of which gainers and losers both tallied at nine while eight closed unchanged.
The 7% MIDI plc EUR 2016-2018 and 5% Tumas Investments plc unsecured € 2024 were the best performers for the week both gaining 1.4 per cent and closing at €104.75 and €106.50 respectively.
Conversely, the 5.6% GlobalCapital plc € 2014/16 was the worst performer as it fell back by five per cent, to close at €95.
From the sovereign debt front 26 issues were active, of which 10 short dated issues eased lower, 15 advanced and one closed unchanged. The 5.25% MGS 2030 (I) and the 5.2% MGS 2031 (I) were the best performers both appreciating by 0.6 per cent, to close at €128.07 and €126.27 respectively.
The 4.3% MGS 2022 (II) was the most liquid issue for the week as it witnessed a turnover value of just over €3 million.
This article, which was compiled by Jesmond Mizzi Financial Advisors Ltd, 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 Ltd at 67, Level 3, South Street, Valletta, or on Tel: 21224410, or email info@jesmondmizzi.com.