Following two weeks of negativity, the Malta Stock Exchange index managed to halt its off-putting position by snapping back a 0.5 per cent gain to end the week at 3,036.163 points.
Despite spiralling lower in three sessions, the index managed to diverge towards a positive path, as the significant gain by HSBC Bank Malta plc was a key determinant towards the broader market.
Conversely following a recent bullish trend, both Simonds Farsons Cisk plc and Go plc closed the week with significant losses.
Trading activity in the week was dealt over eight equities, in which losers prevailed over gainers, as six edged lower, one gained ground, while the other traded unchanged.
Total turnover for the week increased to €306,716 traded over 172,345 shares, which were executed across 95 transactions.
In the local Government Stock market, investors garnered support, as from the 22 active issues 17 traded in positive territory, four declined in value, while three closed unchanged. Turnover in the week decreased to just over €17 million, of which 48 per cent were traded within the short-dated 6.35% MGS 2013 issue.
Meanwhile, despite not being active, the three newly listed sovereign issues were given the green light by the Treasury to commence trading yesterday following their admission to the official list of the MSE on the previous day.
In the Corporate Bonds market, total activity was spread on nominal amounts of just over 1.1m, which were traded over 23 issues; in which six gained ground, eight edged lower, while nine closed unchanged. The 5.6% Global Capital 2014/2016 headed the list of gainers by registering an appreciation of 8.5 per cent.
In the equity market, Bank of Valletta plc shares fell under renewed selling pressure for the third week in a row by recording a further loss of 0.5 per cent. The banking equity was active throughout the week as a total of 56,233 shares changed hands across 38 transactions to end the week at €2.05.
On the contrary, HSBC Bank Malta plc was the only gainer for the week with a markable gain of just below four per cent or €0.10 to close at the €2.61 price level, as investors await the six months results to be approved on July 27, 2012. The equity was active in all five sessions with the said gains mostly recorded in yesterday’s session, with a 3.2 per cent appreciation. A total of 43,323 shares were traded over 25 transactions.
From the beverage sector, Simonds Farsons Cisk plc shares brought their recent upward trend to a standstill by registering a considerable loss of seven per cent. The equity was active in two sessions as it closed unchanged on Monday, while it surrendered to selling pressure in the last session to close the week at €2. A total of four trades were dealt across 6,520 shares.
Likewise, following its record highs for the year, Go plc shares failed to advance further by shaving a significant 5.5 per cent from its share value to re-touch the €1.11 levels. The telecommunications equity was active in two sessions, as it recorded losses of 0.4 per cent and 5.1 per cent over a total of 32,550 shares.
Similarly, both International Hotels Investments plc and Maltapost plc were among the list of losers for the week. The former closed lower by 0.12 per cent to close at €0.849 after trading at a weekly high of €0.85, while the latter paved way to a further loss of 1.7 per cent to close at €0.89, thus increasing the year-to-date loss to 11 per cent.
From the aviation industry, Malta International Airport plc drifted lower by 1.7 per cent over two sessions to close at €1.75. Total volume was that of 6,050 shares over four transactions. The other active equity for the week was RS2 Software plc which closed flat at €0.50 over two deals which consisted of 5,333 shares.
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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