The Malta Stock Exchange index recorded an increase in three out of this week’s four trading sessions, reaching a seven-year high on Thursday, to then close the week marginally lower at 4,295.849 points – registering a week-on-week gain of 1.53 per cent.
Activity was spread over 15 equities of which 10 increased in value, three closed lower while two closed unchanged.
Total turnover amounted to €769k – 51 per cent down from the previous week.
Mapfre Middlesea plc recorded the highest gain for the week as its share price rebounded from the 5.8 per cent losses of the past two weeks to close 6.1 per cent higher at €2.25. Turnover in the equity amounted to €23,000 as eight deals of 10,098 shares were concluded.
On Thursday, the company announced that the board of directors has resolved to nominate and appoint Felipe Navarro Lopez de Chicheri as Chief Executive Officer of Mapfre Middlesea plc, with effect from October 1, 2015, in lieu of Alfredo Munoz Perez, subject to regulatory approval.
In the banking sector, HSBC Bank Malta plc shares registered their third successive weekly gain having added a further two per cent over 15 trades of 34,464 shares – amounting to a turnover of €63k – to close at €1.846.
Meanwhile, Bank of Valletta plc shares closed at their weekly low of €2.26 – 0.4 per cent higher, having traded at a high of €2.30. BOV shares registered the largest turnover for the week, worth €190,000, as 83,443 shares changed hands over 40 trades.
In the same sector, Lombard Bank Malta plc shares lost 1.4 per cent over four deals of 9,475 shares to close at €2.12.
It was a mixed week for the IT sector as the share price of RS2 Software plc soared by 5.5 per cent while 6PM Holdings plc declined by 4.8 per cent.
RS2 closed at €2.50 – a new all-time high – as 16 transactions of 50,332 shares were concluded, amounting to a total turnover of €123,000.
On the other hand, 6PM surrendered last week’s 3.5 per cent gains as it closed 4.8 per cent lower at £0.70 as 30,000 shares were dealt over two trades.
In the property sector, the share price of MIDI plc climbed by two per cent over seven trades of 64,800 shares to close at €0.36.
Meanwhile, Tigné Mall plc recorded a slight loss of 0.1 per cent to close at €0.929 over a single deal of 1,000 shares.
Similar activity was witnessed in Malita Investments plc shares as the equity closed unchanged at €0.938.
Grand Harbour Marina plc shares closed at €1.00 as it advanced by 5.8 per cent over a single deal of 2,000 shares after six weeks of inactivity, during which the company announced positive half-yearly results.
Elsewhere, Malta International Airport plc fully recovered last week’s 1.3 per cent loss as its share price increased by 1.4 per cent to close at €3.895. Activity in this equity amounted to 14 transactions of 15,268 shares.
International Hotel Investments plc also closed the week on the positive side as its share price rose by 2.6 per cent to close at €0.80 after five deals of 36,100 shares were concluded.
The telecommunications company, GO plc recorded a slight gain of 0.1 per cent to close at €3.499 over high turnover as it reached €128k over 16 trades of 36,739 shares.
The other gainer for the week was Medserv plc as its share price added 1.7 per cent to last week’s 18 per cent gain as five transactions of 19,993 shares were executed, reaching a new high of €3.00
Meanwhile, Simonds Farsons Cisk plc closed unchanged for the second successive week as four deals of 3,346 shares kept the share price at the €5.55 level.
In the corporate bond market 16 issues were traded of which five closed higher, six lost value while another five closed unchanged. The 5.8% International Hotel Investments plc 2021 headed the list of gainers having increased by 0.8 per cent over a single trade of 5,000 nominal to close at €108.90.
On the other hand, both the 6% Pendergardens Developments plc Secured € 2022 Series II and the 5.1% PTL Holdings plc Unsecured €2024 lost 1.8 per cent to close the week at €110.00 and €110.02 respectively. The former was traded over three deals of 24,700 nominal while the PTL bond was active over six transactions of 35,700.
Total turnover continued to decline as it stumbled by 51.4 per cent to €465,000.
It was a positive week for the sovereign debt market as 14 of out the 21 stocks traded gained ground, six closed in the red while one closed unchanged – in line with European counterparts. The 2.3% MGS 2029 (II) headed the list of gainers as it advanced by 1.5 per cent to close at €104.00 over a single trade of 125,000 nominal.
On the other hand, the 3% MGS 2040 (I) shed 0.4 per cent over 14 deals of 85,000 nominal to close at €106.05.
Total turnover stood at €8.72 million of which €6.55 million or 75 per cent was traded in the 4.5% MGS 2028 (II).
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.