The Malta Stock Exchange index practically erased last week’s positive return as it eased 1.1 per cent over the four-day trading week, closing at 3,766.201 points.

Turnover amounted to €2.2 million spread across 14 equities of which 10 gained ground, two declined and another two closed unchanged.

Bank of Valletta plc shares swayed between a weekly low of €2.18 and a high of €2.39, to ultimately close at €2.30 and thus registering a 3.8 per cent decline on the previous week, following the company announcing that legal proceedings have been instituted against it before an Italian court in terms of which the bank is being requested to pay an amount equivalent to the value of the shares of a company which had been settled on trust with the Bank as Trustee in 2009 and which value the plaintiffs are alleging amounts to €363 million. The banking equity was the most liquid, having witnessed 106 deals of 403,632 shares worth €910,000.

Its peer, HSBC Bank Malta plc was this week’s only other faller as a significant decline of 2.9 per cent was registered in its share price as 32 trades of 102,910 shares were struck, to close at €2.039.

Lombard Bank Malta plc sha­res traded flat at €1.95 Wednesday as two transactions of 32,706 shares were executed. The other non-mover for the week was MIDI plc, having traded flat at €0.27 over three trades of 110,000 shares.

Elsewhere, 6pm Holdings plc shares recorded this week’s best performance having rallied by 4.3 per cent albeit on a sole transaction of 2,000 shares executed at £0.73. In the same sector, RS2 Software plc shares edged 0.3 per cent higher over six deals of 24,000 shares, to close at €2.979.

Medserv plc shares witnessed a remarkable performance having touched an all-time high of €2 intra-week. The equity was negotiated over four trades of 11,200 shares, eventually closing the week €0.08 higher at €1.98.

Simonds Farsons Cisk plc – active only during Thursday’s session – reached a record high of €3.301 to then close at €3.27 as 3,109 shares changed ownership, registering a 2.2 per cent gain.

Middlesea Insurance plc shares advanced by €0.04 or 3.5 per cent as five deals of 12,239 shares were struck at €1.20.

Meanwhile, Go plc shares edged 0.7 per cent higher as 53,955 shares changed hands, to close at €2.87.

Malta International Airport plc shares rebounded to the €3.50 record price level and thus registered a 1.5 per cent increase over the week. The local airport operator’s shares were active on 32 deals of 150,597 shares.

MaltaPost plc shares traded at an all-time high of €1.425, however closed the week marginally lower at €1.422 – up by a slight 0.1 per cent increase on the previous week – six trades of 13,164 shares were dealt. The Board of Directors of the company is scheduled to meet on May 8, 2015 to consider and approve the company’s interim financial statements for the six months ended March 31, 2015.

Malita Investments plc shares oscillated between a record high of €0.99 and a weekly low of €0.935, to finally close at €0.97 and still marking a 3.2 per cent weekly gain. The equity was negotiated over 10 transactions of 141,500 shares.

The other positive performers were Plaza Centres plc having gained a minimal 0.1 per cent on two transactions of 27,170 shares, closing at €0.951.

During Thursday’s session, Tigne Mall plc announced that for the year ended December 31, 2014, the company registered a profit before tax of €2.3m, compared to €1.9m in 2013. Revenue for the period under review amounted to €5.2m, an increase of 3.8% from 2013. Meanwhile, earnings per share increased to €0.023. The board further resolved to recommend that the AGM approves the payment of a final net dividend of €0.0125 per share which will be paid on June 16, 2015 to all shareholders on the company’s register as at May 11, 2015. The AGM will be held on June 10, 2015. The equity was not active this week.

In the corporate bond market 18 issues were active of which 11 gained ground, six closed unchang­ed and the 5.35% Bank of Valletta plc Sub € 2019 declined minimally by 0.2 per cent, to close at €113.75. Total turnover in the corporate bond market amounted to €378,642. The 6% Mediterranean Investments Holding plc Euro 2021 was the best performer as it increased by 3.3 per cent, closing at €93.

After close of trading yesterday, International Hotel Investments plc announced the issue of €45 million 5.75% Unsecured Bonds maturing in 2025 with a nominal value of €100 per bond, issued at par. The company also announced that it will redeem the €35m 6.25% Unsecured Bonds due 2015-2019 on July 11, 2015. The company will be granting preference to holders of the maturing bond to subscribe to the new bonds by surrendering the maturing bond. The cut-off date for such elgibility shall be April 10, 2015. Trading in the maturing bond shall be suspended as from next Monday.

In the sovereign debt market turnover totalled just under €7 million. Activity was spread across 24 issues of which 15 gained ground, eight fell and one closed unchanged. The 4.45% MGS 2032 (II) headed the list of gainers as it appreciated by 1.6 per cent, to close at €137.60. The most liquid issue was the 3% MGS 2040 (I) r with a turnover worth €2.7m which closed at €120.

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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