The Malta Stock Exchange index halted the recent slump as most equities with as the major banks share price soared. This meant that the index closed the week 0.6 per cent higher at 4,470.812 points.
Bank of Valletta plc, HSBC Bank Malta plc, RS2 Software plc and Tigne Mall plc were the main catalysts of this increase.
Elsewhere, in the sovereign bond market there was no clear direction as gainers and fallers nearly tallied. On the other hand, corporate bonds enjoyed an overall positive performance.
RS2 Software plc shares were amongst the top performers for the week, as 17 deals of a combined value of over €67,000 caused the equity’s price to increase by four per cent.
Bank of Valletta plc shares recouped half of last week’s losses, as the price increased by 1.3 per cent to close the week at €2.23. Total turnover was slightly lower than €300,000 and was spread across 72 trades.
In the same industry, HSBC Bank Malta plc shares experienced an even greater increase, as its rise stood at 3.1 per cent, to close at €1.855. Total volume traded amounted to 87,273 shares.
On the negative side, one trade in Lombard Bank Malta plc and five others in FIMBank plc, triggered losses of one per cent and 0.6 per cent respectively. Lombard’s share price closed at €2.08 over very low turnover while FIMBank’s equity price closed at $0.83 over 90,709 shares.
One deal of 5,000 shares also had a negative effect on the share price of MIDI plc, as the value fell by 2.9 per cent to €0.33.
Following a share split in Santumas Shareholdings plc, the equity’s price closed at the intra-week high of €1.26. This reflects an appreciation in price of 4.9 per cent during the week. Total turnover stood at €19,000 across two trades.
In the insurance sector, low volumes split across three deals, hit Mapfre Middlesea plc hard as the company’s share price fell by 3.6 per cent, to close the week at €2.12.
Plaza Centres plc shares also underperformed as two deals of 13,700 shares caused the equity to close at the intra-week low of €1.10.
In the property sector, Malita Investments plc and Malta Properties Company plc both had a negative week as equity prices fell by 1.2 per cent and 2.5 per cent respectively. The closing price of the former stood at €0.859, as a result of two trades of 18,140 shares, while that of the latter read €0.585. Total turnover in Malta Properties Company plc shares amounted to nearly €23,000.
GO plc shares fell in value by 0.6 per cent to close at €3.22. Total turnover in this equity amounted to €22,500 across six deals.
On the other hand, four trades worth €29,000 in Tigne Mall plc pushed the share price up by almost 4.6 per cent, to close at €1.15.
In the tourism industry, a total of 18,795 shares exchanged hands in Malta International Airport plc. These transactions took place across 16 deals, worth more than €76,000 in total. The end result was a decrease in value of 0.7 per cent, as the share price stood at €4.05 at the end of yesterday’s session. On the other hand, three deals of 32,421 shares had no impact on the share price of International Hotel Investments plc, as this closed at €0.62 – same as last week.
Despite a total turnover of around €215,000, Simonds Farsons Cisk plc shares saw their value remain unaltered as the price stood at €6.45 once again.
Elsewhere, 2,163 shares in 6pm Holdings plc traded flat at £0.80 over a single trade.
In the corporate debt market, a total of 24 issues closed in the black from a total of 37 active issues. Nine other issues closed unchanged and only four closed lower. The 3.75 per cent Premier Capital plc Unsecured € 2026, commenced trading on Thursday while the 6.2 per cent Mizzi Org. Fin. Plc € 2016-2019 was redeemed on Wednesday.
In the sovereign debt front, eleven issues closed in the red while 12 others experienced some gains. The largest decline was registered in the 2.1 per cent Malta Government Stock 2039 as this closed at €101 – a fall of one per cent from last week’s closing price.
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.