The Malta Stock Exchange (MSE) index added a further 0.15 per cent to the previous week’s 0.40 per cent gain to end the week at 4,741.747 points.
Trading in the equity market was spread across 18 equities, of which eight gained ground, four fell while the remaining six remained unchanged. Turnover in the equity spiked from €1.09 million to €1.91m.
In the telecommunications sector, GO plc reached a fresh nine-month high as the equity climbed two per cent to close at its weekly high of €3.499. The equity generated a total turnover of €237,326 spread over 24 transactions.
Last Tuesday, the company announced that its board of directors is scheduled to meet on Tuesday to consider and approve the company’s audited financial statements for the financial year ended December 31, 2016, and to consider the declaration of a final dividend to be recommended to the company’s annual general meeting.
After last week’s marginal gain, Malta International Airport plc (MIA) shares climbed by three per cent, or €0.119, to close at €4.151 – a fresh 16-week high. Total turnover in the equity amounted to €87,326 in 12 deals.
In the banking industry, Bank of Valletta plc (BOV) shares recovered from marginal intra-week declines in Friday’s session to end the week with a 0.1 per cent gain at €2.191. This occurred after the week’s highest turnover of €554,986 spread over 85 deals.
On the other hand, its counterpart HSBC Bank Malta plc registered a 0.5 per cent decline from last week’s three-year high, having closed at €2.049, as investors await the bank’s financial results for the year ending 2016 to be announced next Tuesday. Turnover in this equity amounted to over 16.1 per cent of weekly turnover as 151,290 shares changed hands.
In the same sector, Fimbank plc shares recovered from an intra-week drop of $0.04 to close at $0.895, thus registering a 0.6 per cent gain on the week. A total of 91,142 shares were traded, reaching a turnover of $74,153 spread over 10 transactions.
Elsewhere, Lombard Bank Malta plc shares remained unchanged as a single deal of 20,000 shares was executed at €2.24.
Despite a turnover of €61,439 spread over 11 deals, International Hotel Investments plc (IHI) shares failed to veer from last week’s closing price of €0.65.
A single deal of 2,360 shares in Maltapost plc shaved off 1.9 per cent off the equity’s price to close at €2 – a one-month low.
On the same note, RS2 Software plc shares suffered four consecutive negative sessions intra-week to close 3.7 per cent lower at €1.699 – a one-month low. Total turnover of €159,911 was spread over 24 deals.
Simonds Farsons Cisk plc (SFC) shares returned to their all-time high of €7.30 with a 1.4 per cent gain on a turnover of €45,763.
Mapfre Middlesea plc shares added one cent to their price to close at €2.23 as 3,700 shares were exchanged in four deals. Last Friday, the company announced that its next annual general meeting will be held on April 21.
Meanwhile, Global Capital plc shares ended a two-month drought as a single deal of 7,524 shares was struck at its previous closing price of €0.41.
In the property sector, Tigné Mall plc was the only gainer as a single deal of 2,600 shares added 0.8 per cent to their price to close at €1.13. In contrast, Malta Properties Company plc (MPC) registered the weakest performance in this sector as the equity contracted by 2.2 per cent to close at €0.54.
In the same sector, Malita Investments plc oscillated between positive and negative ground intra-week as the equity surged to €0.83, but it failed to maintain this positive momentum and closed flat at €0.81. Total turnover in the equity amounted to €139,496 spread over 17 deals.
Last Tuesday, the company announced that its board of directors is scheduled to meet on February 28 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.
Despite a high trading volume of 369,400 shares in Midi plc there was no movement in its share price which closed flat at €0.33. Similarly, Medserv plc shares close flat at €1.60 on a turnover of €44,000.
A single deal of 3,500 shares in Plaza Centres plc failed to alter the equity’s price from €1.10.
Last Monday, the company announced that its board of directors is scheduled to meet on March 9 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.
In the corporate debt market a total of 32 issues were active last week, of which 14 lost ground, nine increased in value while nine remained unchanged. The 3.75 per cent Premier Capital plc unsecured € 2026 registered last week’s best performance by advancing by 1.5 per cent to €102.47. Despite having closed unchanged, the 4.25 per cent GAP Group plc Secured € 2023 was the most liquid issue as turnover amounted to €835,488 – 46.6 per cent of total turnover.
In the sovereign debt market, a total of 26 issues were active last week, of which nine closed in positive territory and 17 issues declined. The 2.1 per cent MGS 2039 (I) r registered both last week’s highest turnover of €1.16 million as well as the best performance of two per cent to close at €98.50.
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.