The MSE Equity Total Return Index extended its negative performance for the fifth consecutive week having declined by one per cent to close at 8,601.699 points.
A total of 15 issues were active during the week of which eight closed lower, while GO plc and Medserv plc shares were the only gainers this week.
Among the weakest performers, Simonds Farsons Cisk plc and Plaza Centres plc shares registered heavy declines in excess of 7.5 per cent. Total turnover during the week amounted to €1.23 million spread over 188 transactions.
In the banking industry, the only mover was FIMBank plc shares as a total of 149,088 shares were exchanged over eight trades. The equity lost 3.2 per cent of its value during the week, nearing a 21-month low at $0.60.
Its peer, Bank of Valletta plc shares held the lion’s share of total turnover during the week as 86 transactions generated a total turnover of €517,595 – amounting to 42 per cent of total turnover.
The equity’s price oscillated between €1.75 and €1.80, to close unchanged at €1.80.
For the second consecutive week, Lombard Bank plc shares closed flat at the €2.20 price level. A total turnover of €74,102 was generated between five deals.
In the same sector, HSBC Bank Malta plc shares remained unchanged despite being active throughout the week. Three consecutive positive sessions were erased during yesterday’s session, closing flat at €1.86.
In the telecommunications sector, GO plc shares ended a two-week losing streak as the equity advanced by two per cent, reaching the €3.60 price level. A total turnover of €135,908 was generated between 17 trades.
On the other hand, International Hotel Investments plc shares added 1.6 per cent to last week’s decline at €0.62. A total of 33,967 shares were exchanged between seven trades.
Malta International Airport plc shares continued to decline for the third consecutive week as the equity contracted by 1.5 per cent closing at €4.62.
Similarly, RS2 Software plc shares extended its negative performance for the seventh consecutive week as the equity hit the €1.55 price level. The equity was active during Monday and Wednesday’s session with Tuesday being the only positive session among the three.
Food and beverage firm, Simonds Farsons Cisk plc plunged by 10.5 per cent during Wednesday’s session hitting a two-month low at €8.50. The equity recovered almost a third of this drop during the following session to close 7.8 per cent lower at €8.76.
On a similar note, Plaza Centres plc started off the week on a negative note as the equity dipped by 9.7 per cent, closing at €1.002 – hitting its lowest level in 19 weeks.
The equity was only active on Monday as four trades generated a turnover of €19,490.
In the same sector, MIDI plc closed off the week on a negative note as the equity fell by 1.5 per cent during yesterday’s session, closing at €0.325. Malta Properties Company plc also lost ground as the equity closed 0.6 per cent lower at the €0.507 price level.
Its peer, Malita Investments plc shares closed flat after the increase registered during Tuesday’s session was reversed yesterday to close at €0.751.
In the oil and gas industry, Medserv plc shares closed the week on a positive note as four trades amounting to 12,040 shares was enough to push the price 0.4 per cent higher at €1.265.
Meanwhile, retail conglomerate PG plc shares held firm to their €1.48 price level. A total of three deals managed to generate a total turnover of €20,942.
In the corporate debt market a total of 38 issues were active during the week of which 11 headed north, while 17 closed lower. The 3.75% Premier Capital plc Unsecured € 2026 extended last week’s marginal gain as the bond price closed 0.24 per cent higher at €103.25. Meanwhile, the 4.5% Grand Harbour Marina plc Unsecured € 2027, fully recouped last week’s decline closing 0.5 per cent higher at €104.50.
In the sovereign debt market, a total of 24 issues were active of which the absolute majority amounting to 19 headed south, while five closed higher. Bonds holding a maturity greater than 16 years registered the largest declines with the exception of the 2.1% Malta Government Stock 2039 (i) r which closed 1.23% higher at €101.50.
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: 21224410, or email info@jesmondmizzi.com.