The Malta Stock Exchange (MSE) Index extended its negativity to four consecutive weeks by posting a sharp loss of 1.1 per cent to end the week at 3,060.233 points. Following a shortened week due to Tuesday’s national holiday, the index endured a torrid week as it traded in negative zone in three out of four sessions. Thursday’s session proved the prime cause for the index negative close as the sharp losses incurred by HSBC Bank Malta plc and International Hotels Investments plc dragged the index towards a significant loss of 0.949 per cent. Activity during the week was spread across nine equities in which losers’ outperformed gainers, as five depreciated while four traded in positive territory. Total turnover reached €172,623 traded over 81,956 shares, which were executed across 52 transactions.
Meanwhile, as European leaders struggled to reach a convincing deal for the debt crisis, local Government stocks tended to move in line with most of the European sovereign bonds, as from the 19 active issues 17 appreciated, while two registered a minimal loss. In the week liquidity reached high volumes of just over 8.6 million with the medium dated 4.3% MGS 2016 being the most active as trading value almost reached €5.2. In the Corporate Bonds Market, 27 issues were active, of which gainers and losers tallied to seven while non-movers amounted to 13 with the 5.6% Global Capital 2014-2016 heading the list of losers as it slid by 3.6 per cent.
In the equity market, HSBC Bank Malta plc contracted by a sharp loss of 3.3 per cent or €0.085 over two sessions as it posted a loss of 1.4 per cent and nearly two per cent on Monday and Thursday respectively. A total of 27,990 shares changed hands over 16 transactions to end the week at €2.50. Bank of Valletta plc shares headed towards a similar direction but recorded a minimal loss of 0.04 per cent to end the week at a similar €2.50 price level. The banking equity was active throughout the week as it registered gains in three sessions, while it posted a loss of 1.2 per cent on Wednesday. In the week the equity continued to have the lion’s share as total volume reached 34,053 of which a substantial high volume of 20,008 were traded in the mid-week session.
On a positive note, FIMBank plc recouped almost all the losses incurred in the previous week as it advanced by 3.9 per cent on Wednesday to restore back the $0.769 level.
Following two weeks of inactivity, International Hotels Investments plc was active in a single session on Thursday, were it dwindled by 2.2 per cent over 1,085 shares to close the week at €0.83. Likewise from the beverage sector, Simonds Farsons Cisk plc plummeted by five per cent over a single session on Wednesday to close at €1.71, while Crimsonwing plc plunged by 7.4 per cent over 2,500 shares to end the week at €0.25.
From the aviation industry, following last week’s severe loss Malta International Airport plc managed to get back on track by gaining 2.2 per cent on Wednesday to reach the €1.60 level. This however on a total of 2,234 shares dealt over two trades. Similarly, in the last session of the week Maltapost plc appreciated by a mere 0.53 per cent over one trade worth €2,160 to close the week at €0.955.
Finally, following three weeks of negativity Go plc shares bounced back by posting a gain of 5.3 per cent to reach back the €1.00 level, over low volumes of 900 shares. On Wednesday the company announced that Forthnet, a company in which Go plc has an indirect investment, was holding an extraordinary general meeting on the following day, Thursday, December 15, to discuss possible developments within the company. Another company announcement that was published on the following day stated that further discussions and decision taking on the items of the agenda discussed in the previous day were postponed to Friday January 13, 2012.
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. Atlas JMFS is licensed to conduct investment services by the MFSA and is a member firm of the Malta Stock Exchange.
The directors or related parties, including the company, and their clients are likely to have an interest in securities mentioned in this article.
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