The Malta Stock Exchange (MSE) Index recouped further ground registering a 1.7 per cent gain to close at 3,472.037, mainly triggered by solid gains in banking equities. HSBC Bank Malta plc (HSBC) maintained its upward trend, followed by Bank of Valletta plc - also hit by renewed buying interest – while GO plc slid lower for the third week.
Trading activity was based on 13 stocks with total turnover reaching €616,318. Volume in the equity market reached 422,017 shares dealt across 112 transactions.
As global markets were conditioned by the ongoing saga in the US in relation to the Government spending budget, in the local sovereign market investors opted for a twofold approach.
As some opted for riskier positions, others searched for safer grounds: this was visible within the 15 active stocks as yields took diverging positions. Total traded value in government bonds reached €2.2m.
Meanwhile, in the corporate bond front, turnover amounted to a value of €524,467, with the Melita plc 7.15% 2014-2016 issue heading the list of gainers by registering a gain of 1.1 per cent.
In the equity market, HSBC shares hit a seven day winning strike with a 5.8 per cent gain, while on a weekly basis the equity advanced by 4.8 per cent to close the week at €2.625. Trading value in the week reached €152,586 dealt across 59,675 shares.
Bank of Valletta plc followed its banking peer with a gain of just below three per cent to close the week at €2.469. The equity was active throughout the week, during which it gained exponentially in four sessions with the exception of Thursday’s session, when it retreated by 0.8 per cent. A total of 75,288 shares changed ownership over 46 transactions.
Meanwhile, Middlesea Insurance plc closed the week unchanged at €0.85, over a single trade of 11,244 shares.
RS2 Software plc extended its streak of gains by locking a further gain of 1.5 per cent on Tuesday to reach a record closing price of €1.98. Traded volume reached 11,610 shares, which were executed across three transactions. On Wednesday, the company announced that in its Extraordinary General Meeting proposed changes to the company’s memorandum and articles of association were considered and approved by the shareholders.
On the same note, Crimsonwing plc hit a all-time high with a remarkable weekly gain of 4.1 per cent which was registered on Tuesday. The software developer was active in two sessions with the highest trading volume this week of 108,100 shares. The equity ended the week at €0.77.
On the contrary, GO plc held its recent selling pressure with a further decline of 1.3 per cent to close at €1.47. Likewise, Grand Harbour Marina plc plunged by 5.3 per cent on Monday to close at €1.799.
International Hotel Investments plc slipped by a marginal 0.1 per cent on Monday over a single trade of 1,200 shares to close at €0.859.
Meanwhile, Simonds Farsons Cisk plc shaved off 1.1 per cent from its value to close at €2.75.
Malta International Airport plc (MIA) managed a 2.1 per cent gain over two sessions. Trading in the equity reached a value of €77,225 which was dealt over 11 deals, ending the week at €1.96. Meanwhile, yesterday afternoon MIA anno-unced its traffic results for the month of September, another record month when compared to the same period in 2012. Total passengers in September increased to 452,294, with Germany and Italy being the main contributors to September’s success, with increases of 33.7 per cent and 19.1 per cent respectively.
Medserv plc share price plummeted by 7.1 per cent on Tuesday on 1,500 shares at €3.25, the company announced that it was awarded a contract for the provision of logistical supply base services, transportation, and associated services in relation to the drilling of an exploration well offshore Malta. The company also announced that it received a total of 3,845 applications representing a value of over €55m for its €13m 6% Notes 2020/2023 issue and was heavily over-subscribed.
Furthermore, Maltapost plc fell by 2.7 per cent to close at €1.07, and Midi plc declined by four per cent over 70,000 shares to end the week at €0.24.
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 e-mail info@jesmondmizzi.com