The Malta Stock Exchange index traded between a seven-year high of 4,314.477 points and a weekly low of 4,302.231 points to close the week 0.39 per cent higher at 4,312.696 points.
Total turnover stood at €1.1 million, an increase of 44 per cent over last week as 14 equities were active.
Gainers and fallers tallied at six, while two closed unchanged.
Pushing the index higher were FIMBank plc shares as they soared by 11.1 per cent – after four weeks of inactivity – to close at $0.50 as eight transactions of 75,367 shares were concluded.
In the same sector, Bank of Valletta plc shares also ended the week 2.2 per cent higher to close at €2.31 – a 10-week high. This equity was the most liquid as it recorded a turnover of €262,000 or 24 per cent of total turnover as 113,235 shares changed hands over 48 trades.
Last Wednesday, BOV announced that it had submitted an application for the approval of a Prospectus in respect of a 12-month Subordinated Debt Issuance Programme of a maximum principal amount of €150 million. The Notes to be issued will form an integral part of BOV’s capital plan, aiming to strengthen Tier 2 Capital, as required by European regulations.
On the other hand, HSBC Bank Malta plc ended the week in the red as its share price retracted by 0.3 per cent over high volume worth €241,000 to close at €1.84 – after three consecutive weeks of gains.
The other banking equity to close the week in negative territory was Lombard Bank Malta plc as it shed 0.9 per cent to close at €2.10 after 10 transactions of 67,322 shares were concluded.
Meanwhile, Mapfre Middlesea plc maintained last week’s €2.25 price level over low activity as 7,230 shares were traded.
In the IT sector, RS2 Software plc shares continued to push ahead as it closed at an all-time high of €2.52 – a 0.8 per cent increase over last week’s all-time high. Activity in this equity was spread over 16 transactions of 38,216 shares.
Meanwhile, 6PM Holdings plc shares closed unchanged at £0.70 over thin volume as two trades of 5,530 shares were executed.
Medserv plc and Simonds Farsons Cisk plc shares also ended the week at an all-time high.
Medserv topped its previous high for the fifth successive week as it closed 1.7 per cent higher at €3.05 over two trades of 9,987 shares –a year-to-date gain of 110 per cent. The company announced that an extraordinary general meeting will be held on October 12 to approve a resolution to authorise the company to disclose to any bona fide offerer such information in relation to the Medserv group of companies.
Meanwhile, SFC gained 0.9 per cent over scant volume worth €2,000 to close at €5.60. During the week, the company announced that the directors are scheduled to meet on September 30 to consider and approve the financial statements for the six months ending July 31, 2015 and to consider the payment or otherwise the payment of a dividend.
The other gainer for the week was Malta International Airport plc as it advanced by a mere 0.1 per cent to close at €3.90 as 12,755 shares changed hands over 11 trades.
Conversely, Plaza Centres plc shares headed the list of fallers as it posted a 6.7 per cent decline to close at €0.98 as three transactions of 83,000 shares were executed.
Elsewhere, International Hotel Investments plc nearly wiped out all of last week’s 2.6 per cent gains as it lost 2.5 per cent over nine trades of 45,442 shares to close at €0.78.
The other fallers for the week were GO plc and Malita Investments plc shares as they slipped by 1.4 per cent and 0.9 per cent respectively.
GO closed at €3.45 as 11 deals of 13,261 shares were concluded while Malita closed at €0.93 as 75,000 shares changed hands over four transactions. GO plc announced that an extraordinary general meeting will be held on October 29.
In the corporate bond market, 24 issues were active nine of which gained ground, six decreased while nine closed unchanged.
The 4.8% Bank of Valletta plc Sub € 2020 was the top performer as it climbed by 3.6 per cent to close at €108 as three deals of 45,000 nominal were concluded.
Conversely, the 5% Hal Mann Vella Group plc Secured Bonds € 2024 declined by 3.2 per cent as two transactions of 84,700 nominal pushed the bond price down to €107.
Total turnover for the week amounted to €1.1 million, from €465,000 last week. The most liquid issue was the 5.3% Mariner Finance plc Unsecured € 2024 as it recorded a turnover of €245,000 or 22 per cent of total turnover to close unchanged at €111.11.
It was a negative week on the local sovereign debt front as, of the 20 stocks traded, 15 closed in the red while five closed higher. Total turnover registered a fourfold increase reaching €34 million of which 42 per cent was traded in the 4.5% MGS 2028 (II) having edged lower by 0.1 per cent to close at €128.03.
The 5.1% MGS 2022 (I) headed the list of gainers as it drifted 0.2 per cent higher to close at €126.02 as seven transactions of 2.86 million nominal were concluded.
On the other hand, 12 deals of 1,83 million nominal in the 4.3% MGS 2033 (I) dragged the stock price down by one per cent to close at €125.88.
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.