The Malta Stock Exchange index managed to reposition itself on a postive track this week by recording a minimal gain of 0.4 per cent to end the week at 2,985.023 points.
The index kicked off the week on a negative note, but it managed to retrace the earlier declines by registering considerable gains in three sessions to end the week higher.
From the telecommunications sector, GO plc maintained its bullish trend following weeks of volatility, while the significant gains by Midi plc, FIMBank plc and Simonds Farsons Cisk plc were also key determinants for the registered gains.
Conversely, Lombard Bank plc extended its bearish momentum by recording further losses, followed by HSBC Bank Malta plc which declined for the second week in a row.
The week witnessed the trading of 14 equities, in which gainers and non-movers tallied to five, while losers totalled to four. Total trading value decreased to €927,212 dealt over 595,132 shares, which were executed over 136 transactions.
In the local government stock market, investors’ sentiment diverged towards lack of conviction, as from the 18 active stocks 14 depreciated in value, while four managed to post minimal gains. The 4.3 % MGS 2016 medium dated issue was the most liquid as total trading value amounted to just over €4.2 million, which was executed over a single transaction.
In the corporate bonds, total turnover amounted to just over one million traded over 27 stocks. The 6.2% Mizzi Organisation Finance plc 2016-2019 headed the list of losers with a loss of just below two per cent.
In the equity market, Lombard Bank plc maintained its sharp pull back by depreciating by a further 3.4 per cent, thus recording a loss of 5.5 per cent over three weeks. The banking equity was active in the mid-week session and on Friday declining by 2.1 per cent and 1.3 per cent respectively to end the week at €2.27. A total of 10,225 shares changed hands over eight transactions.
Likewise, 0.4 per cent was shaved off HSBC Bank Malta plc share value on Friday to close the week at the €2.49 price level. The equity was active throughout the week and traded unchanged in four sessions, only slipping by the said loss in the last session of the week. Trading volume amounted to 68,990 shares, which were dealt across 17 trades.
Bank of Valletta plc closed the week unchanged at €2.08 after trading at an intra-week low of €2.05. The equity had the lion’s share of trading as total turnover amounted to €596,250 traded over 62 deals, which consisted of 289,064 shares.
The other active financial, FIMBank plc soared by just below five per cent or $0.04 on Wednesday, thus recording a 10.4 per cent year to date. The equity was active in two sessions in which five trades of 61,040 shares were traded to end the week at $0.85.
Similarly, the postive tone once again governed action among GO plc shares, as the equity climbed another notch by gaining a further 3.5 per cent to hit a 14 week high, and thus re-touching the €0.88 price level. Yesterday the company announced that, while the Group maintained its overall client base, it experienced pressure on ARPU levels. Furthermore, mobile also experienced the impact of lower mobile termination rates, the result of regulatory intervention during the second half of 2011. These have resulted in a marginal reduction in overall turnover when compared to Q1 2011. However, it continued by stating that revenues remained strong across all main product lines and are expected to remain so throughout the rest of the year.
The best performer of the week was Crimsonwing plc, which closed the week with a staggering gain of 87.5 per cent or €0.14 over 38,000 shares to close at €0.30. The remarkable gain in the share price was brought about following a company announcement on Thursday, stating that it has entered into a Share Purchase Agreement for the acquisition of the remaining issued share capital of Promentum Holding BV. The agreement is conditional on obtaining Crimsonwing PLC shareholder approval. Crimsonwing plc acquired a 51 per cent controlling stake in Promentum Holdings BV in September 2007 and, subject to shareholder approval, will control the full 100 per cent of the issued share capital.
From the beverage sector, Simonds Farsons Cisk plc managed to close markedly higher yesterday, as its share value surged by 6.6 per cent or €0.12 to close at €1.95. Furthermore, Midi plc put together a solid gain of just below three per cent over a single session to move back to the €0.35 price levels.
RS2 Software plc plummeted by 5.5 per cent over a single session in which 1,000 shares were traded to end the week at €0.52. Plaza Centres plc was also on the list of losers as its shares contracted by 2.9 per cent on Thursday over a single session of 600 shares to close at €1.70.
Meanwhile, both International Hotels Investments plc and Malta International Airport plc closed the week unchanged, The former maintained the €0.84 level over a single trade of 5,885 shares, while the latter closed flat at €1.75 after trading at an intra-week low of €1.73.
The other non-movers for the week were Santumas Shareholdings plc and Island Hotels Group Holdings plc, which traded flat at €1.80 and €0.85 respectively.
This article, which was compiled by Atlas JMFS Investment Services Limited, does not intend to give investment advice and the contents therein should not be construed as such.
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