After a choppy start to the week, the MSE Index gained 0.15 per cent overall, to close the week at 4,741.747 points.
Trading in the equity market was spread across 18 equities of which gainers amounted to eight, four lost ground while the remaining six closed unchanged. Total turnover surpassed the €1.9m mark.
GO plc shares registered the second highest gain for the week as its price ticked two per cent higher, to close at €3.499 – a fresh nine-month high for the equity.
This positive result was achieved over 24 trades worth €237,000 in total – the third highest value traded for the week.
On Tuesday, the company announced that its Board of Directors is scheduled to meet on February 21, 2017 to approve the financial statements for the year ending December 31, 2016 and to consider the declaration of a final dividend to be recommended to the company’s Annual General Meeting.
Malta International Airport plc shares headed the list of gainers registering a gain of almost three per cent, spread across 12 deals of 21,284 shares. The price at the end of the final trading session for the week read €4.151 – a fresh 16-week high.
Trading in the banking industry yielded different results.
Bank of Valletta plc shares gained a mere 0.1 per cent, closing at €2.191 following 87 deals worth more than half a million euros in total.
FIMBank plc shares also experienced a 0.6 per cent price appreciation over 10 trades of 91,142 shares. The closing price for this equity settled at $0.895.
On the contrary, HSBC Bank Malta plc shares experienced a 0.5 per cent decline in price.
A total of 45 transactions worth €308,000 led its share price to the €2.049 level ahead of the announcement of the bank’s results for the year ending December 31, 2016 due next Tuesday.
Lombard Bank Malta plc was the only banking equity which closed unchanged following a single trade of 20,000 shares executed at €2.24.
Shares of RS2 Software plc (RS2) and MaltaPost plc registered fresh lows as a result of negative weekly trading performances. The former declined by 3.7 per cent, spread over 24 deals of 93,124 shares, to settle at €1.699 while the latter fell by 1.9 per cent, to close at €2, following thin trading.
Five transactions worth €45,763 in Simonds Farsons Cisk plc shares pushed the price up by 1.4 per cent to again reach its all-time high of €7.30.
Prior to trading yesterday, Mapfre Middlesea plc announced that the forthcoming Annual General Meeting will be held on April 21, 2017.
This announcement coincided with an overall positive week for the equity as it appreciated by 0.5 per cent, to close at €2.23 albeit on thin volumes.
Trading volumes which failed to surpass the €10,000 mark were witnessed in Tigne Mall plc and Malta Properties Company plc resulting in differing performances.
The share price of Tigne Mall plc gained 0.8 per cent, to close at €1.13, while that of Malta Properties Company plc declined by 2.2 per cent closing at the €0.54 price tag.
Medserv plc shares were traded twice as the equity appreciated by 0.1 per cent, to close at €1.60. The combined value of these two trades amounted to €44,000.
Both Malita Investments plc and Plaza Centres plc issued announcements during the week related to the approval of the respective audited financial statements for the year ended December 31, 2016.
More specifically, on Tuesday, Malita Investments plc announced that the Board of Directors is scheduled to meet on February 28, 2017 to consider and approve the Company’s Audited Financial Statements for the financial year ended December 31, 2016.
The board will also consider the declaration of a final dividend to be recommended at the Company’s Annual General Meeting.
On the other hand, on Monday, Plaza Centres plc announced that the Board of Directors is scheduled to meet on March 9, 2017 to consider and approve the Company’s Audited Financial Statements for the financial year ended December 31 2016.
The company will also consider whether to declare and recommend the payment of a dividend to shareholders at the Company’s Annual General Meeting.
These announcements failed to have any impact on the respective prices of these equities despite being active this week.
Other active equities which failed to experience any changes in price were International Hotels Investments plc, Global Capital plc and MIDI plc.
Both in the sovereign debt market and in the corporate bond market, performance was predominantly negative.
Total trading in corporate bond issues amounted to almost €1.8m spread over 32 issues.
Nine of these closed higher, 14 depreciated while the remaining nine closed unchanged. Trading in sovereign bond issues witnessed 17 of the 26 active issues close in the red while nine appreciated.
The 2.1 per cent MGS 2039 outperformed its peers as it registered a
two per cent increase in price closing at €98.50.
Total turnover in this market exceeded €6.3m.
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: 21-224410, or email info@jesmondmizzi.com.