The Malta Stock Exchange index ended the week 0.26 per cent lower at 4,198.740 points as it failed to sustain its strong start to the week. Activity was spread over 16 equities of which half gained in value, six lost ground while two closed unchanged – amounting to a turnover of €1.7m, an increase of 31 per cent on last week.
The banking sector endured a tough week as the share price of Bank of Valletta plc, HSBC Bank Malta plc and Lombard Bank Malta plc all declined in value.
BOV lost 1.3 per cent to close at €2.269 over a turnover of €447k.
Its peer, HSBC oscillated between a weekly high of €1.83 and a low of €1.75, at which it closed, posting a 2.8 per loss on last week. Activity in this equity was spread over 22 trades of 52,052 shares.
Meanwhile, Lombard erased last week’s 0.7 per cent gains as it headed back to the €2.10 price level.
Heading the list of gainers was RS2 Software plc as its share price soared by 12.75 per cent to close at €2.30 – an all-time high. This significant increase came as a reaction by the market to the positive financial results that were published by the Group late last week. The equity was also the most active during the week as 238,756 shares changed hands over 64 deals to post the highest turnover at €523k - 31 per cent of total turnover. In the same line of business, 6PM Holdings shares closed at £0.735 as it slipped by 3.3 per cent on thin volume of 4,391 shares over three trades.
The other fallers for the week were International Hotel Investments plc and Malita Investments plc.
IHI lost a further three per cent to close at €0.776 as 46,588 shares were traded over eight deals.
Meanwhile, Malita closed at €0.936 as it drifted 1.5 per cent lower.
Elsewhere, Mapfre Middlesea plc continued to build on its upward trend as its share price climbed by a further 2.3 per cent to close at €2.25 – a new six-year high - as eight deals of 8,217 shares were concluded.
In the retail sector, Plaza Centres plc shares gained one per cent to close at €0.97 while Tigne Mall plc shares rebounded from last week’s 1.1 per cent loss to close 3.5 per cent higher at €0.89.
Meanwhile, MaltaPost plc closed 0.6 per cent higher at €1.63- an all-time high - after four trades of 34,110 shares. In its interim directors’ statement issued last Monday, the company announced that from April 1, 2015 to date, there were no material events and/or transactions that could leave an impact on the financial performance of the company, and which would require specific mention, disclosure or announcement pursuant to the applicable listing rules. Furthermore, the company registered growth in international mail services, registered mail, and parcel and packets business - the main contributors to an increase in turnover compared to the comparable period of the previous year.
The revision of certain tariffs from January 2014, offset the decline in letter mail volumes, while write-backs of operation expenses mitigated the higher direct mail costs and depreciation. The board and management convey confidence in recording improved profit for the year ending September 2015 as they aim for a continued sustainable Universal Service and to innovate in line with e-commerce opportunities.
The other gainers for the week were Simonds Farsons Cisk plc , MIDI plc and Medserv plc.
SFC gained 0.8 per cent to close at €5.29 – a new all-time high - over thin volume of 983 shares, while MIDI advanced by three per cent to close at €0.35.
Meanwhile, Medserv recouped last week’s 1.3 per cent loss as it closed 1.3 per cent higher at €2.37.
The non-movers for the week were Go plc and Malta International Airport plc closing at €3.57 and €3.90 respectively.
In the corporate bond market activity was spread over 23 issues of which seven gained in value, 11 declined while five closed unchanged. Turnover amounted to €1.75m of which 18 per cent was recorded in the 6% Mediterranean Investments Holding plc Euro 2021 as 12 deals of 315,200 nominal were executed. The 7% MIDI plc EUR 2016-2018 headed the list of gainers as it gained 2.4 per cent in value to close at €108.50. On the other hand, the 4.6% HSBC Bank Malta Plc €2027 lost most ground as it closed 1.4 per cent lower at €104.50.
In the sovereign debt front 22 stocks were active of which four increased, 13 lost ground while five closed unchanged. The 3.2% MGS 2019 (V) recorded a turnover of €1.24m, 31 per cent of total turnover which stood at €3.97m – down by €8.13m from last week. The 4.65% MGS 2032 recorded the best performance as it closed 0.6 per cent higher at €133.80 to yield 2.4%.
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 Ccmpany 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.