The Malta Stock Exchange index added on to last week’s positive returns as it gained a further 0.85 per cent, closing at 3,370.919 points.
Investors showed a bullish attitude towards local equities as, out of 13 equities active this week, five appreciated, six remained unchanged and only two fell.
Total turnover value in the equity market amounted to €966,875.
In the banking sector, HSBC Bank Malta plc shares were the highlight of the week as they oscillated between a weekly low of €1.97 and a high of €2.035 – at which it closed – registering a 3.6 per cent gain on the week. This equity was the most liquid this week as 20 deals of 122,183 shares were negotiated, reaching a total turnover of €244,156.
Likewise, Lombard Bank Malta plc added on to last week’s gains as its share price strengthened by 1.8 per cent or €0.03 on five transactions of 69,354 shares.
Meanwhile, Bank of Valletta plc shares closed unchanged at €2.249, despite reaching a weekly high of €2.251. The banking equity witnessed a total of 25 deals of 84,603 shares. Next Friday, the board of directors of the bank is scheduled to meet to consider and approve the group’s and the bank’s audited financial statements for the financial year ended September 30, 2014 and to consider the declaration of a final dividend to be recommended to the bank’s annual general meeting.
In a company announcement it was stated that the board of directors of the bank has recently approved changes to the bank’s senior management organisational structure. The revised structure aims to ensure a more focused corporate governance structure as well as efficiency in dealing with the various major challenges that the bank faces in the coming decade.
FIMBank plc shares also closed unchanged at $0.60 during Thursday’s session across two trades of 10,203 shares.
Go plc added on to its recent winning streak as its share price gained a further 0.8 per cent as 41,516 shares changed ownership, closing at €2.70 – a price last reached in May 2008. The local telecommunications provider’s shares are up 48 per cent since the beginning of 2014.
Similarly, Malta International Airport plc shares re-touched their all-time high of €2.36 as 12 trades of 88,750 shares were executed.
MaltaPost plc shares strengthened by 2.6 per cent to close at €1.149 across six transactions of 28,191 shares.
Conversely, MIDI plc shares stumbled by 4.4 per cent on a sole trade of 2,500 shares, to close at €0.22.
Medserv plc also failed to maintain last week’s share price as they dipped 1.5 per cent lower to €1.30 across four trades of 11,500 shares.
Plaza Centres plc shares traded flat at €0.61 across five deals of 52,710 shares. In its interim directors’ statement, the company reported that since June 30, 2014 occupancy levels, revenue and profit beforetax at the end of the third quarter all increased when compared to the corresponding period last year. Costs also increased marginally.
The directors expect the company’s financial results for 2014 to be in line with the projections approved at the beginning of the year. The company received a Mepa permit to refurbish its facades. The refurbishment is currently being carried out and is expected to be completed before the Christmas period.
The other non-movers for the week were International Hotel Investments plc, 6PM Holdings plc and Malita Investments plc closing at €0.60, £0.72 and €0.56 respectively.
Conversely, to the equity market, investors showed bearish sentiment in the sovereign debt market as out of a total of 26 active issues, 23 slid lower and only three closed the week higher.
The three gainers were the 3.3% MGS 2024 (I), 5.1% MGS 2029 (I) and the 4.1% MGS 2034 (I) as they all registered marginal gains. Total turnover in this market amounted to just under €14.9 million.
In the corporate bond market, turnover amounted to €548,537 spread across 26 issues of which 14 gained ground, four slipped and eight closed unchanged.
The 7.15% Mediterranean Investments Holding plc GBP 2015-2017 was the best performer as it advanced by 2.1 per cent, to close at £98, while the 6% Island Hotels Group Holdings plc €2.024 registered the worst decline to close at €107.
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.