In line with the previous week, positivity prevailed as the Malta Stock Exchange index captured a gain of 0.9 per cent to reach a 23-month high at 3,369.651 points.
In the week, enthusiasm was on the forefront as investors turned bullish in three sessions, with International Hotels Investments plc extending its streak of gains, while HSBC Bank Malta plc managed to re-position itself in winning grounds following three straight weeks of declines.
Conversely, Bank of Valletta plc closed the week notably lower despite recuperating from a remarkable mid-week dip.
Gainers reigned over losers this week, as eight equities added gains to their share value, two formed part of the losers list, while the other three closed unchanged. The lion’s share of volume traded was held by Bank of Valletta plc, with 28 per cent of the 565,652 traded shares executed in the BOV equity.
Total transactions for the week in the equity market amounted to 181 deals.
From the local sovereign debt market, as opposed to the recent risk-averse momentum, this week investors opted on trimming their notable profits following yesterday’s announcement of new debt issuance by the Treasury. In fact two new issues were announced, the 3% MGS 2019 and the 4.5% MGS 2028. The aggregate issued amount will be of €100 million, with the possibility of a further allotment of €70 million in case of over subscription. Prices for both issues will be established on Thursday while applications will open on May 20 and close on May 22.
From the equity segment, financials opted for a positive week with the exception of Bank of Valletta plc. In fact, the highly capitalised equity closed the week lower by 3.3 per cent thus moving to the €2.21 price level. Throughout the week the equity lacked upright sentiment with losses recorded mainly in two sessions, as on Tuesday the fall in share value was attributed to the equity going ex-dividend. A total of 159,214 shares were dealt over 78 transactions.
On a different note, HSBC Bank Malta plc halted its downtrend position with a three per cent gain to close the week at €2.68. The equity experienced lows of €2.60, but managed to reinstate buying interest with a remarkable gain of 3.8 per cent on Wednesday. Activity was dealt over 16 trades worth €138,584.
In line with its peer, FIMBank plc added a further one per cent to its share value after swivelling from positive to negative in three sessions. With this appreciation the dollar denominated equity re-touched its recent yearly highs of $1.02, which were last recorded in the second week of March.
From the hoteliers sector, International Hotels Investments plc continued to garner support by investors. In fact, the equity topped its share value by a further 4.6 per cent following last week’s notable surge. A total of 12,500 shares were dealt in a single session to close the week at a new 2013 high at €0.889.
On Monday through an interim directors statement, the company gave a brief overview of its business for the first three month of 2013. It stated that revenues in Malta and Lisbon were roughly at the same level in the same comparable period of 2012, while trading in Budapest and London saw an improvement, particularly in the United Kingdom with a €2 million improvement in operating profit.
Likewise, Malta International Airport plc registered a 0.3 per cent appreciation over three sessions to close the week at €1.925. The airport operator commenced the week on a positive note, which it than sustained in the mid-week session as it touched its all time high of €1.95, while on Thursday it shaved-off 1.3 per cent from its share value.
On Monday the company announced its traffic results for the month of April, where passenger movements grew by 8.9 per cent reaching 331,369, the highest number ever registered in April. The UK, Spanish and Italian markets were those which showed increases in the month of April.
Similarly, from the IT sector, RS2 Software plc closed the week at €1.039 after it touched a new all time high of €1.04 on Thursday, while 6pm Holdings plc soared by 5.7 per cent on Monday in which 15,260 shares changed hands to close at £0.56.
From the postal industry, Maltapost plc gathered an appreciation of just below one per cent to close the week at a two year high at €1.06. The equity emerged as the second most liquid as total volumes amounted to 99,389. On Thursday, the company announced its financial position for the first six months ending March 31, 2013, where it stated that profit before tax increased to one million, when compared to the €0.8 million recorded in 2012.
The other gainer for the week was Malita Investments plc, which captured a four per cent gain over 12,000 shares to close the week at €0.52.
Meanwhile, following months of inactivity Loqus Holdings plc shares returned to the trading desk with a loss of 4.8 per cent to close at €0.14.
Finally the non-movers for the week were Go plc, Santumas Shareholding plc and Island Hotels Group Holdings plc, which closed at €1.59, €1.60 and €0.60 respectively. The telecommunications equity, Go plc, on Tuesday announced that during the annual general meeting which was held on the same day, all ordinary resolutions were approved.
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: 2122 4410, or e-mail info@jesmondmizzi.com.