The Malta Stock Exchange index registered another weekly gain as it appreciated by one per cent , to close the week at 4,690.277 points – a level last seen in March 2008, that is, almost nine years ago.
Elsewhere, the corporate bond market and the sovereign debt market performed in an inverse manner as the majority of the corporate bond issues declined while most government debt issues appreciated.
Trading in the equity market was spread across 17 equities of which eight closed higher, five closed in the red and four closed unchanged.
Total turnover surpassed the €1.4 million mark.
In the banking industry, all listed equities registered gains.
Bank of Valletta plc shares appreciated by 2.4 per cent across 102 deals worth €670,000 – accounting for 47 per cent of the week’s total turnover. The increase was registered when comparing this week’s closing price of €2.15 to last week’s adjusted closing price of €2.099. This adjustment reflects a one share bonus allotment for every 13 shares held as at next Monday. The €2.15 closing price marks a fresh two-month high closing price.
HSBC Bank Malta plc shares appreciated to levels which were last seen in March 2014. During the week, 32 deals worth almost €228,000 pushed its price 1.5 per cent to €1.98.
A single trade of 1,000 shares also resulted in an increase in Lombard Bank Malta plc’s share price as it closed the week at €2.33 – a weekly gain of 1.3 per cent.
Simonds Farsons Cisk plc shares reached a fresh all-time high closing price, as two deals amounting to 1,500 shares in total pushed the price up by 3.6 per cent, to reach €7.25. The highest ever traded price of SFC was €7.30.
GO plc shares yesterday recovered from an intra-day 24 cents slump to close the week 0.6 per cent higher at €3.30. This closing price marks a new eight-month high.
The increase in the MSE index was definitely not brought about by the performance of the listed equities in the property sector, as the majority declined in price, one registered a minimal increase and one closed unchanged. Malta Properties Company plc shares headed the list of fallers registering a 3.5 per cent decline to close at €0.56. Turnover exceeded €13,000 spread across nine trades.
A single deal of 2,500 shares also caused Plaza Centres plc shares to decline in value by 1.9 per cent and to close at €1.06.
Similarly, Tigne Mall plc stumbled by 0.8 per cent in value to settle at the €1.18 price tag. The equity traded twice for a total of 10,000 shares changing ownership.
On the contrary, Malita Investments plc shares gained a mere 0.1 per cent, to close at €0.858. Turnover amounted to just over €13,000 spread across two trades.
Despite trading five times during the week and registering a turnover of almost €85,000, MIDI plc’s share price failed to veer from last week’s level of €0.35.
During the week, Malta International Airport plc announced that the airport reached an important five-million-passenger milestone in December exceeding expectations, closing the year with 5,080,071 passengers. It forecasts a two to three per cent increase in passenger movements in 2017 targeting to reach a total revenue over €73 million, while net profit is projected to reach over €20 million.
On Thursday, the company announced that the board of directors is scheduled to meet on February 22 to consider and approve the company’s financial statements for the financial year ended December 31, 2016. The board of directors will also consider whether to declare and make a recommendation to the shareholders for the payment of a dividend. This positive news helped its share price maintain the fresh 10-week high of €4.10 reached on Tuesday when the equity appreciated by 1.2 per cent. In fact, nine trades were registered in this equity with a total turnover of over €141,600.
As opposed to what occurred in recent weeks, shares of RS2 Software plc fell in price, as 11 trades worth €43,000 resulted in a decline of 1.5 per cent, to close at €1.81.
Medserv plc shares traded once on thin volumes but still managed to register a fresh five week high. The equity closed at €1.66 which is a 3.1 per cent increase from last week’s closing price.
MaltaPost plc shares lost almost one per cent across two trades tallying to 6,400 shares. This week’s closing price read €2.06.
Another six deals took place during the week, five of which were dealt in International Hotel Investments plc while one trade was executed in Grand Harbour Marina plc shares. This trading left no effect on the respective equity prices as they closed unchanged at €0.62 and €0.899. No movement was noted in the share price of Mapfre Middlesea plc as three deals of 8,658 shares were executed at €2.25.
On the sovereign debt front total turnover reached almost €4.9 million, as 15 issues recovered some of last week’s losses. This, however, was not the case for seven issues which declined even further. The 4.5 per cent MGS 2028 (II) headed the list of gainers, up by 0.67 per cent to close at €134.04. On the contrary, the 2.1 per cent MGS 2039 (I) r registered the biggest drop for the week, falling by 0.79 per cent to close at par.
In the corporate debt market a total of 23 issues were active during the week with 10 issues losing ground, six registering gains and another seven closing flat. The 5.75 per cent International Hotel Investments plc Unsecured €2,025 headed the list of losers as the issue slumped by 4.1 per cent to close at €105.41. Meanwhile, the five per cent Dizz Finance plc Unsecured €2,026 gained one per cent, to end the week at the €106. Total turnover in this market for the week amounted to €1.24 million.
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