The Malta Stock Exchange Index lost 1.85 per cent over the previous week to close at 4,545.81 points at a loss of nearly eight per cent since the beginning of the year. Fifteen equities were active during the week with five equities closing in positive territory, eight closing in negative territory and two remaining stable. 6pm Holdings plc was the week's top equity gainer whilst the shares of MaltaPost plc suffered the largest weekly drop.
A total of 320 deals were registered on the stock exchange for a turnover above €11.7 million. In the equity market 221 deals were executed for a total value of €972,645.14. In the corporate bond market there were 34 deals for a value of €205,188.51, and in the government bond market there was a turnover of €10,475,062.72, across 72 deals. Moreover, there were 320 deals in Treasury bills for a total value of € 64,906.80.
The value of shares of 6pm Holdings plc increased by 6.85 per cent over the previous week as 88,804 shares changed hands for a total value of €85,491.16. This performance followed the results' announcement and a declaration of £0.013 dividend per share to shareholders registered with the company on April 22.
During the week, in the banking sector, the share price of Bank of Valletta plc dropped by 3.67 per cent to close at €5.25, its 2008 low ahead of interim results due to be announced on April 29. In total 67,240 shares changed hands in 71 deals for a total value of €356,909.54. On the other hand, 27,047 shares of HSBC Bank Malta plc changed hands with the share price losing 2.60 per cent to close at a weekly low of €4.30 across 38 deals for a total value of €117,672.86.
Although there were 14 deals transacted in shares of Lombard Bank Malta plc for a total value of €146,744, the share price remained stable at €13. A turnover of €28,946.80 was registered over two deals in shares of FimBank plc where the price closed at US$1.909, at a loss of 0.31 per cent over the previous week.
The share price of Middlesea Insurance plc lost 0.40 per cent to close at €3.50 on one deal. This week Go plc share price dropped by 0.03 per cent over the previous week to close at €3.014, this despite the announcement of a share purchase agreement of ForthNet to acquire the pay-TV operator NetMed NV. International Hotel Investments plc saw their share price drop by 0.93 per cent on a turnover of €95,526.02.
The share price of GlobalCapital plc dropped by 4.44 per cent over eight deals of 5,450 shares. GlobalCapital plc yesterday announces that on Wednesday it agreed terms for the acquisition of 85.5 per cent of the issued share capital of Medifin Holding Limited which holds 99.9 per cent of the issued share capital of Mediterranean Bank plc. Mediterranean Bank plc is licensed by the MFSA to carry out the business of banking under the Banking Act, 1994 and to provide investment services under the Investment Services Act 1994. The agreed terms are subject to confirmation following due diligence and all necessary approvals.
MaltaPost plc was the biggest loser this week with a drop of 6.37 per cent in the share price which closed at €0.735 on 12 transactions where 25,106 shares changed hands for a total value of €19,028.61.
The share price of Grand Harbour Marina plc remained stable at €2.25.
The shares of Simonds Farsons Cisk plc gained 1.56 per cent 2,852 shares changed hands for a total value of € 7,382.22. Plaza Centres plc gained 1.47 per cent on two deals for the value of €4,937.63, while the share price of Crimsonwing plc gained 0.89 per cent on one deal of 5,000 shares for a value of €2,825. The share price of Malta International Airport plc increased by 0.60 per cent to close at €3.35.
This article, which was compiled by Jesmond Mizzi Financial Services Limited (JMFS), does not intend to give investment advice and the contents therein should not be construed as such. JMFS is licensed to conduct investment services by the MFSA. 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 please contact JFMS at 67/3, South Street, Valletta, or on Tel: 2122 4410 or e-mail jmizzi@jmfs.net.