The Malta Stock Exchange index closed the week on a positive note as it managed to regain some of last week’s lost ground. In fact the index posted a 0.75 per cent gain following an improvement in sentiment as the majority of the traded equities closed the week on a positive note. Following two weeks as the worst performing equity, Go plc closed the second week of the month among the best performing equities while minimal losses were recorded by another three equities. Out of the traded financial equities, Lombard Bank plc was the only decliner while the majority of the other financials gained. Turnover in the equities’ market declined significantly to €758,067 down from €1 million traded last week.
Meanwhile, in the fixed-income market turnover increased sharply from €4.8 million traded last week to €17.3 million. As is usually the case, the Government Stocks market took the lion’s share as a hefty €16 million were traded over 56 transactions. Prices in this market sector improved hence pushing yields lower for the week. The 5.7% MGS 2012 was the most liquid as nearly €15 million were traded. This issue was among the only three issues which saw yields creeping higher for the week. In the Corporate Bonds market turnover declined to nearly €500,000 as 84 deals of 525,280 nominal were executed. Running yields in this sector were on the positive side as the majority of the traded issues recorded weekly price declines. The 7% MIDI plc GBP 2016-2018 was the worst performer having lost almost three per cent while the 6.5% International Hotel Investments plc 2012-2014 headed the list of gainers with a 6.5 per cent gain.
In the equities’ market Go plc gained 4.65 per cent or €0.06 to close the week higher following a series of week-on-week declines. The equity closed flat the opening two trading sessions while it closed higher in the remaining three sessions. The equity’s price fluctuated between a weekly low of €1.27 and a high of €1.35 the week’s closing price. Turnover reached just over €39,000 as 29,869 shares were dealt across 25 deals. Since the beginning of the year the telecoms company’s share price decline of 30 per cent.
Middlesea Insurance plc maintained their positive rally as the equity closed the week at €1.04, hence up by 6.12 per cent. The insurance firm topped the list of gainers for the second week running following last week’s hefty 15 per cent gain. Eleven deals of 19,846 worth nearly €20,000 were executed.
Meanwhile Lombard Bank plc was the only financial equity to end the week lower as the bank recorded a minimal decline of 0.2 per cent or €0.006. The equity was only active during Monday’s session as 954 shares were dealt across one transaction at €2.929. FIMBank plc failed to record a change in price as all five deals were executed at $0.84. The bank witnessed the highest trading volume for the week as 150,000 shares were traded during Thursday’s session.
On the contrary Bank of Valletta plc shares managed to recoup some of last week’s lost ground as the bank returned a 0.71 per cent or €0.02 gain as it closed the final two sessions at €2.82. Turnover in the equity closed just shy of the €205,000 mark as 57 deals of 72,731 shares were executed.
On similar turnover HSBC Bank Malta plc edged 0.34 per cent or €0.01 higher following a 0.68 per cent gain during yesterday’s session. The bank closed at €2.96 the week’s highest trading point as 70,683 shares changed ownership over 28 transactions. Shortly after close of business yesterday the bank published its interim directors statement. Alan Richards, director and chief executive officer of HSBC Malta outlined that the bank is encouraged by the positive performance since the beginning of the year. Compared to the corresponding period last year, the bank recorded higher costs due to the bank’s continuing business expansion and transforming of operations.
Maltapost plc closed the week lower with a 0.9 per cent decline as it ended the final session of the week at €1.07. However, trading volume was weak as a mere 500 shares were traded over two transactions. Last Thursday the postal operator announced the unaudited condensed interim financial statements for the six-month period ended March 31. The company registered an increase in revenue of 1.4 per cent to €10.7 million up from €10.6 million recorded in the same period last year. However, profit before tax declined by 9.3 per cent to €1.7million. The company stated that the board of directors together with its management and staff is confident to gain the lost ground in the coming months. The company did not declare an interim dividend.
Malta International Airport plc posted a 1.82 per cent or €0.03 gain as the equity closed the week at €1.68. Turnover jumped to €83,659 up from €21,571 traded last week as 19 transactions of 49,980 shares were recorded. Following this gain the equity’s performance on a year-to-date basis returned in the green with a 1.2 per cent gain.
Grand Harbour Marina plc returned to the trading platform following an absence on nearly seven months. One deal of 110 shares pushed the equities price lower by 0.66 per cent, while International Hotel Investments plc closed flat at €0.70. Throughout the week the equity’s price barely changed as trading volume totalled 144,000 shares which were dealt across nine deals.
In the IT Sector RS2 Software plc traded sideways as four deals of 19,600 shares were executed at €0.50.
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