The Malta Stock Exchange index partially erased last weeks gain as it fell by 0.2 per cent, to close at 3,782.405 points. Activity was spread across 15 equities of which seven gained ground, six declined and two closed unchanged.

MaltaPost plc shares were the best performers, having appreciated by €0.05 or 3.5 per cent, closing at its record high of €1.50. The postal services operator’s shares were negotiated over two deals of 2,569 shares.

The company registered a profit before tax of €2.5m for the six month period ended March 31, 2015, compared to €1.2m registered in 2014. Revenue for the period amounted to €13.3m, an increase of 13.8 per cent from 2014 while earnings per share increased to €0.05. This positive trend in profitability is expected to taper off in the coming months due to a number of seasonal factors and the one-off write-backs of previously accrued expenses.

In the banking industry, HSBC Bank Malta plc shares were the only negative performers, decreasing by 0.5 per cent across the highest volume for the week of 160,469 shares, to close at €1.85. Yesterday afternoon, the bank published its interim directors’ statement covering the period January 1 to May 15, 2015. The bank’s chief operating officer stated that “operating conditions remain difficult but the underlying performance of the three main business segments – retail banking and wealth management, commercial banking and global banking and markets – has been positive in the first quarter.”

Bank of Valletta plc shares oscillated between a weekly low of €2.261 and a high of €2.30, at which it closed. Despite having traded ex-dividend on Monday, this had little impact on the share price. The equity was active on 38 trades of 66,337 shares.

Lombard Bank Malta plc and FIMBank plc shares recouped by 3.2 per cent and 0.2 per cent respectively. The former was executed across two transactions of 1,972 shares, to close €0.06 higher at €1.95, while the latter was negotiated over three deals of 12,100 shares, closing at $0.451.

RS2 Software plc shares increased for the sixth consecutive week, having edged 0.6 per cent higher as eight deals of 9,629 shares were struck, closing at €3.179. On Tuesday, the company announced that the Group has signed a new licence agreement with a bank in Vietnam. It has also concluded one of the letters of intent with a UK processing company and has now advanced to the stage of contract negotiation. The company said it is recommending to shareholders at the AGM a two for one share split.

In the same sector, 6PM Holdings plc shares closed the week unchanged at £0.74 as 26,041 shares changed ownership. In the interim directors’ statement it was reported that, during 2014, the Group continued to build on the achievements reported in 2013 and secured positive results. 6PM also said it is planning to undertake an acquisition of another ICT health business in the UK, which should in turn help the organisation to significantly increase its customer base, grow revenues, grow annuity business, and grow EBITDA and pre-tax profit.

Medserv plc shares slipped by €0.045 or 2.1 per cent over 11 trades of 29,553 shares, closing at €2.155. In its interim directors’ statement the company announced that during the first quarter of 2015 it continued to meet its targets as to turnover and profit margins.

International Hotel Investments plc shares partially erased last week’s gains, having decreased by 1.5 per cent as 78,799 shares changed hands, closing at €0.68. In the company’s interim directors’ statement, it was stated that the IHI-owned hotels and the 50 per cent associate Corinthia London Hotel continued to perform better in the first quarter in relation to the same period in 2014, other than the hotels in Tripoli and St Petersburg where external force majeure factors continued to affect demand for accommodation.

Yesterday, Mapfre Middlesea plc shares edged 0.1 per cent higher over a sole transaction of a mere 144 shares, closing at €1.221.

Similarly, Plaza Centres plc shares strengthened by 0.6 per cent over three trades of 100,000 shares, to close at €0.951.

Malta International Airport plc shares slipped by 0.4 per cent as 11 deals of 17,270 shares were struck, closing at €3.45. In its interim directors’ statement MIA stated that the company has remained sound and the performance has been marginally better than expected. The outlook for the summer season looks positive as well. The retail sector of the business is recovering well after absorbing the effects of the absence of the Libyan traffic and the lower number of flights from Russia.

Malita Investments plc shaved off €0.04 or four per cent of its share price as 11 trades of 91,910 shares were active, to close at €0.87.

Go plc shares were active throughout the week, as two negative sessions outweighed yesterday’s positive trading, thus closing 0.3 per cent lower at €2.99.

Conversely, MIDI plc shares recouped by 1.8 per cent as three deals of 108,400 shares were negotiated.

In the corporate bond market turnover amounted to €438,903 and was spread across 23 issues of which ten advanced, five fell and eight closed unchanged.

In the sovereign debt market 27 issues were active of which 25 caved in to selling pressure and two edged minimally higher.

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.