The Malta Stock Exchange (MSE) index kicked off the year on a positive note as opposed to the heightened volatility in the global equity market, closing the year’s first week of trading 1.09 per cent higher at 4,479.083 points.
Solid gains were recorded in the share prices of Malta International Airport plc, Maltapost plc and Malta Properties Company plc (MPC), which offset the falls in the share prices of Global Capital plc, Medserv plc and Midi plc.
Total turnover reached €1.26 million – a week-on-week decline of 15.6 per cent, spread across 17 equities, of which six headed north, four declined and seven stood unchanged.
In the property sector, MPC shares took the lead as its share price advanced by 8.9 per cent to €0.55, on 32 deals of 276,621 shares. On the other hand, Midi plc shares suffered a 4.1 per cent correction, to close the week at €0.35, after a single deal of 13,900 shares was struck last Friday.
In the same line of business, both Malita Investments plc and Tigné Mall plc shares closed the week unchanged at €0.95 and €0.94 respectively.
While the former was active in four deals of 55,618 shares, Tigné Mall plc shares stood unchanged despite six deals of 77,500 shares.
Elsewhere, the shares of Maltapost plc notched a 7.1 per cent gain during the week to close at €1.94, €0.05 cents shy of its all-time high of €1.99, as 24,928 shares changed hands in five deals.
Meanwhile, the price of both Malta International Airport plc (MIA) and RS2 Software plc shares peaked at record highs. MIA shares appreciated by 6.7 per cent to €4.30 after 23 deals of 34,390 shares while the share price of RS2 climbed 2.9 per cent higher to €3.25 as 15 deals of 45,944 shares were executed.
Go plc registered a four-week winning streak with a positive performance of 1.3 per cent on the week, to close at €3.059, as 28,921 shares changed hands in 15 deals.
Last Wednesday, the company announced that its fully-owned subsidiary, Go Data Centre Services Ltd, has now officially obtained regulatory approval to complete the acquisition of Kinetix IT Solutions Ltd through the purchase of 51 per cent of the company’s issued share capital.
In the financial services sector, HSBC Bank Malta plc shares were the only gainers, having closed 1.9 per cent higher at €1.795, as 20 deals of 80,558 shares were executed.
Last Thursday, the bank announced it had approved a plan to deliver sustainable cost savings, and that following a comprehensive review, it had accepted 130 applications from staff to participate in the bank’s voluntarily early retirement scheme, which is one of a number of initiatives aimed at improving the bank’s productivity and cost effectiveness.
Although it is estimated that the scheme will involve a one-off expenditure of €14.7 million, it should enable the bank to save approximately €4.4 million on annual operating costs. The entire cost of the scheme will be provided for in the financial year ended December 31, 2015.
Meanwhile, Lombard Bank Malta plc shares closed 1.4 per cent lower at €2.45, after a single deal of a scant 300 shares.
Bank of Valletta plc shares closed unchanged at €2.35, after a turnover worth €354,000.
Fimbank plc shares traded flat at $0.66, after one deal of 1,600 shares. Similarly, there was no movement in the share price of Mapfre Middlesea plc shares, which closed at €2.30, following one deal of 5,000 shares.
Heading the list of fallers was Global Capital plc as its share price fell by €0.25 from €0.75 to €0.50 after a single deal of 5,000 shares struck last Thursday.
The share price of oil and gas services and logistics company Medserv plc retracted by four per cent to close at €1.68. The equity was active in eight deals of 18,806 shares.
The week’s other non-movers were International Hotel Investments plc shares, which closed at €0.75 after six deals of 18,910 shares, and Simonds Farsons Cisk plc shares, whose price remained €6.00 after 745 shares were traded in four deals.
In the corporate bond market, a fivefold increase in trading value was recorded as total turnover rose to €1.09 million. Activity was spread across 31 issues, of which eight appreciated in value, 17 traded lower and six remained unchanged.
The newly issued 5.25 per cent Central Business Centres plc unsecured € 2025 S2 T1 bond recorded the week’s best performance, increasing by two per cent to €102 from par, after three deals of 24,000 nominal.
Meanwhile, the 3.5 per cent Bank of Valletta plc € Notes 2030 S1 T1 issue closed 4.3 per cent lower and thus back at par value, following five deals of 111,600 nominal.
Last Wednesday, PTL Holdings plc announced that by virtue of a share transfer agreement, it has acquired the entire shareholding that PTL International Ltd held in iSpot Holdings BV, and as a result is now the sole shareholder in the latter company.
On the sovereign debt market, out of the 22 active issues, 13 ticked higher while nine issues closed in the red.
The 4.25 per cent MGS 2017 (II) issue was traded over the highest turnover of €907,000, representing 21 per cent of the total trading amount for the week of €4.45 million.
The 2.3 per cent MGS 2029 (II) FI Oct 15 r issue registered a 0.7 per cent gain while the 4.45 per cent MGS 2032 (II) issue fell by 1.8 per cent to €132.
This article, which was compiled by Jesmond Mizzi, managing director of Jesmond Mizzi Financial Advisors Ltd, 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 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 at 1/2, St Joseph High Street, Ħamrun, or on tel. 2122 4410 or e-mail jesmond.mizzi@jesmondmizzi.com.