The Malta Stock Exchange index kicked off the year on the same note as last year, registering a 0.29 per cent increase, thus reaching 4,644.338 points – extending its positive tally to six weeks to a fresh nine year high.
The largest banks played an important role in this increase as both HSBS Bank Malta plc and Bank of Valletta plc closed higher.
In the equity market a total of 17 companies were active during the week of which eight gained ground, four closed in the red, while five remained afloat.
HSBC Bank Malta plc shares reached their highest level since March 2014 as the equity rose by 2.6 per cent to €1.95. Total turnover amounted to €77,800 spread over 17 trades which were generated during the last two trading sessions. After close of trading last Friday the bank announced that the board of directors is scheduled to meet on Friday January 20, 2017 to approve the bank’s final audited accounts for the year ended December 31, 2016 and to consider the declaration of a final dividend for approval at the annual general meeting to be held on April 13, 2017.
On the same note, Bank of Valletta plc saw its share price increase by 0.4 per cent, to close at €2.26. A total of 57 transactions managed to generate a total turnover of €310,300 – a 16 per cent weekly increase over the same number of transactions registered in the previous week.
Meanwhile, two deals amounting to a turnover of $8,900 failed to have any effect on the share price of FIMBank plc as the equity closed flat at $0.90.
Malta International Airport plc shares kept their €4.05 price level for the third consecutive week as a total turnover of €55,300 was executed over 13 transactions.
Mapfre Middlesea plc shares made a strong late run as the equity managed to erase Thursday’s loss – to close marginally higher at €2.25. Total turnover last week amounted to €35,500, spread over four deals.
RS2 Software plc shares reached their highest levels in the last four months as the equity closed one per cent higher at €1.838, over a turnover of €76,000 on 41,600 shares.
Albeit starting off the year on a negative note, GO plc shares managed to advance by 0.3 per cent to close at €3.28. Total Turnover in the equity amounted to €13,500, spread over five transactions.
Grand Harbour Marina plc shares managed to end a nine week draught as two trades amounting to a total turnover of €10.6k managed to strengthen the equity’s price by 3.5 per cent – to close at €0.899.
In the property sector, Malta Properties Company plc and MIDI plc shares traded on similar volumes over three and six transactions respectively. The former lost 1.7 per cent to close at €0.58 while the latter closed relatively unchanged at €0.35.
In the same sector, a single trade amounting to 3,087 shares in Malita Investments plc, left the price of the equity unchanged at € 0.857.
Maltapost plc reached a new all-time high last week, as three transactions amounting to a total of 38,603 shares managed to push the equity’s price 2.5 per cent higher to €2.08.
Two trades amounting to 679 shares in Simonds Farsons Cisk plc failed to veer the equity’s price to close unchanged for the second consecutive week at the €7 price level.
International Hotel Investments plc shares traded at a three week low as two trades amounting to 38,222 shares dragged the price 3.9 per cent lower to close at €0.62.
In the oil and gas industry, Medserv plc shares rebounded marginally as the equity managed to win back 0.7 per cent of its price to close at €1.61. Total turnover in the equity amounted to €49,900, spread over five transactions.
A single trade of 35,000 shares in Plaza Centres plc led to a drop of 0.9 per cent closing at €1.08 – reaching its lowest levels since mid-August 2016.
Elsewhere, low volumes in Loqus Holdings plc saw the equity’s price remain unchanged at €0.165.
In the sovereign bond market, all the 22 active issue traded last week lost ground with declines ranging from 0.23 per cent to 5.03 per cent – with longer dated bonds suffering the largest losses.
The three per cent Malta Government Stock 2040 (I) r registered last week’s largest decline of five per cent to close at €113.28.
In the corporate debt market, out of the 25 active issues nine closed in negative territory, eight closed higher while another eight remained afloat.
The 6.2 per cent Tumas Investments plc € 2017-2020 registered last week’s largest decline of 3.3 per cent to close at €102.50
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 .