The Malta Stock Exchange (MSE) index kept its positive momentum for the seventh consecutive week as the index notched a further increase of just under one per cent to reach 4,690.277 points – a level last reached in early March 2008. A total of 17 issues were active last week, of which eight gained ground, five declined, while four remained afloat.
HSBC Bank Malta plc edged higher as the equity reached a fresh new high in almost three years to close at €1.98. Total turnover amounted to €227,800 spread over 32 transactions.
In the same sector, Bank of Valletta plc (BOV) shares advanced by 2.43 per cent to close at €2.15. The equity registered last week’s highest turnover of €669,900, spread over 102 deals – accounting for 47 per cent of total turnover. The equity traded ex-bonus as of last Friday and therefore the price adjusted accordingly.
Similarly, a single deal of 1,000 shares in Lombard Bank plc managed to push the equity’s price three cents higher to close the week at €2.33 – a one-year high.
A total of 58,000 shares spread over five transactions in International Hotel Investments plc (IHI) failed to alter the equity’s price, which closed unchanged at €0.62.
In the telecommunications sector, GO plc shares oscillated between highs of €3.30 and lows of €3.06 to close 0.6 per cent higher at €3.30 – a new eight-month high. Total turnover amounted to €119,700, which was spread over 19 deals as 37,225 shares changed hands.
Malta International Airport plc (MIA) shares climbed by 1.2 per cent to close at €4.10 as nine deals amounting to a total turnover of €141,600 were struck.
MIA announced that the airport reached an important five-million passenger milestone in December 2016, which exceeded expectations, and closed the year with 5,080,071 passengers. For this year the company forecasts a two to three per cent increase in passenger movements over 2016, and is targeting to reach a total revenue of over €73 million, while net profit is projected to reach over €20 million.
Two transactions in SFC managed push the equity’s price to a new all-time high
Meanwhile, in another announcement last Thursday, MIA 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 recommend to the shareholders the payment of a dividend.
By contrast, RS2 Software plc shares snapped a five-week winning streak, closing in the red by 1.5 per cent at €1.81. Total turnover amounted to almost €43,000 spread over 11 transactions.
Similarly, Maltapost plc fell from its all-time high, reached the previous week, as the price of the equity contracted by 0.96 per cent to close at €2.06 on low turnover.
A total of 1,500 shares spread over two transactions in Simonds Farsons Cisk plc (SFC) managed push the equity’s price to a new all-time high as the price strengthened by 3.6 per cent to close at €7.25.
A single deal of 2,500 shares amounting to €2,650 in Plaza Centres plc weakened the price of the equity by 1.9 per cent to close at €1.06. On the other hand, a single mid-week deal of 250 shares in Medserv plc managed to erase previous losses as the equity gained ground by 3.1 per cent to close at €1.66.
Tigné Mall plc shares started off last week with a rocky start but managed to recoup most of its decline last Tuesday as the equity closed 0.8 per cent lower at €1.18.
Total turnover in the equity amounted to €11,700 spread over two transactions.
Despite having a total turnover of €19,500 spread over three deals, Mapfre Middlesea plc closed flat at €2.25.
In the property sector, 3.5 per cent was shaved off the share price of Malta Properties Company plc to close at €0.56 as nine deals were struck, generating a total turnover of €13,100. On the other hand, despite a similar turnover registered in Malita Investments plc, its share price marginally increased by 0.1 per cent to close at €0.858.
Elsewhere, five deals in Midi plc and a single deal in Grand Harbour Marina plc, generating a total turnover of €85,000 and €7,400 respectively, failed to veer these equities’ prices, which closed unchanged at €0.35 and €0.899 respectively.
In the sovereign debt market a total of 22 issues were traded, of which 15 gained ground while seven declined.
The week was characterised by high volatility as stocks moved up on one day and down again the following day. The 4.5 per cent MGS 2028 (II) was last week’s top performer as the issue gained 0.67 per cent to close at €134.04. On the other hand, the 2.1 per cent MGS 2039 (I) r registered the weakest performance, declining by 0.79 per cent to close at par. The week’s most liquid issue was the long-dated 2.4 per cent MGS 2041 (I) r, over a total turnover worth €525,168.
In the corporate debt market a total of 23 issues were active last week, with 10 issues losing ground, six increasing in value, while seven closed flat.
The 5.75 per cent IHI plc unsecured € 2025 registered last week’s worst performance as the issue fell by 4.1 per cent to close at €105.41. Meanwhile, the recently issued five per cent Dizz Finance plc unsecured € 2026 ticked one per cent higher, to end the week at €106. Total turnover for the week declined from €1.42 million to €1.245 million.
This article, which was compiled by 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 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 Ltd at 67, Level 3, South Street, Valletta, or on Tel. 2122 4410 or e-mail info@jesmondmizzi.com.