The Malta Stock Exchange (MSE) index registered a weekly decline of 1.16 per cent to 4,504.469 points as seven equities closed in negative territory.

This predominantly reflected losses suffered by shares of Bank of Valletta plc (BOV), which turned ex-dividend last Tuesday, as well as declines registered in the share price of  Fimbank plc and Mapfre Middlesea plc.

Turnover in the equity market shrank from €1.75 million to €1.21m, as 16 equities were negotiated, of which half closed unchanged, only one managed to close higher and seven fell out of favour.

In the financial services sector, Fimbank plc shares headed the list of fallers, tumbling by 4.5 per cent to $0.85, after a single deal of 24,000 shares was executed.

In the same line of business, BOV shares dragged the index further in the red, as last Monday was investors’ last opportunity to receive the company’s final net dividend payment for the year of €0.0554 per share.

The company’s shares were traded in the second highest turnover for the week, worth €339,683. BOV shares ended the week 3.2 per cent lower at €2.26.

Its peer, HSBC Bank Malta plc shares flucatuated between a weekly high of €1.86 and a low of €1.84, to then close unchanged at €1.85. A total of 62,803 shares were exchanged in 18 transactions.

Likewise, no change was recor­ded in the share price of Lombard Bank Malta plc after a single deal of just 4,674 shares.

One deal of a mere 144 shares shares in Mapfre Middlesea plc was struck at €2.20, representing a week-on-week decline of 2.2 per cent.

Medserv plc unusually experienced the highest turnover for the week of €399,000, representing a third of total trading value

The oil and gas logistics and services company Medserv plc was hit by a 0.7 per cent fall in price after it unusually experienced the highest turnover for the week of €399,000, representing a third of total trading value.

Maltapost plc shares slipped by 1.6 per cent to €1.85 following a single deal of 1,500 shares.

Similarly, shares in Malita Investments plc and Simonds Farsons Cisk plc (SFC) traded lower, down by 1.7 and 0.8 per cent, respectively. The former was active in a turnover worth €60,493, whereas SFC shares’ decline followed three deals of 14,173 shares.

In its interim directors’ statement last Monday, Malta International Airport plc (MIA) announced that in the first nine months of 2016 it registered an increase in its turnover of 4.5 per cent, to €55.5 million, when compared to the same period last year.

The company also reported an increase in profits of 10 per cent to €17.1 million over last year.

Following a promising start to the winter schedule, the company is optimistic about the remaining period of the year.

There was no change in MIA’s share price by end of week, as it recovered from an intra-week low of €4.04. The equity was active in a relatively thin volume.

In the IT services sector, shares of RS2 Software plc oscillated between a high of €1.59 and a low of €1.53, to end the week unchanged at €1.55. The value of trading recorded totalled €81,114.

The week’s other non-movers were Go plc, International Hotel Investments plc, Plaza Centres plc, and Malta Properties Company plc – all of which were active on relatively low volume.

In the corporate debt market, total turnover stood at €1.22 million. A total of 34 issues were traded, of which seven increased in value, 13 closed lower, while 14 remained unchanged.

There was a strong advance­ment in the 5.75 per cent IHI plc unsecured € 2025 issue, up by 2.4 per cent to €106.50; whereas the 4.5 per cent Izola Bank plc € unsecured 2025 issue lost 1.1 per cent in value, to close at €105.26.

In the sovereign debt market, all the 25 traded stocks bar three drifted lower, as selling pressure continued to weigh in. Turnover declined slightly from the previous week’s €20.2 million to €18.3m, with the 2.5 per cent MGS 2036 (I) being the most traded issue, and ending the week down by one per cent.

There were also similar losses  in most of the other long-dated government stocks.

This article, which was compiled by Jesmond Mizzi, managing director of Jesmond Mizzi Financial Advisors Ltd, 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 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 at 1/2, St Joseph High Street, Ħamrun, or on Tel. 2122 4410 or e-mail jesmond.mizzi@jesmondmizzi.com.

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