The Malta Stock Exchange index managed to partially snap back last week’s significant loss with a 0.7 per cent appreciation to close the week at 3,075.727 points.
The index experienced a relatively positive week as it traded higher in three sessions.
As opposed to the previous week, major banking equities returned to positive trading with Bank of Valletta plc shares cancelling most of the losses incurred in the previous week, followed by HSBC Bank Malta plc which registered a scant gain.
On the contrary, Lombard Bank plc upheld its negative saga and traded at a new low.
Throughout the week investors’ confidence was bolstered, as from the 10 active equities seven edged higher, two closed flat, while the other drifted lower. Total turnover for the week amounted to €866,959 traded over a total 843,471 shares, which were executed across 105 transactions.
In the Malta Government Stock market, following the recent sell-off momentum, throughout this week investors opted for a relatively balanced approach as headlines from abroad imposed mixed feelings among investors. From the 22 active stocks, 12 closed lower, nine gained ground, while the other closed unchanged. Turnover in the week totalled just over €2.6 million, of which 17 per cent were traded within the 4.3% MGS 2022.
In the Corporate Bonds market, yields were mixed as from the 21 active issues five traded in positive territory, six recorded losses, while 10 closed flat. Following weeks of gains the 7.15% MIH GBP 2015-2017 headed southwards with a 2.4 per cent depreciation.
In the equity market, Bank of Valletta plc returned to positive trading following last week’s decline. The equity advanced by 1.3 per cent or €0.03 to close the week at €2.275.
Banking equity was active throughout the week as it gained two per cent on Monday, closed unchanged in the following session, while it posted an equal 0.2 per cent depreciation in the remaining three sessions. A total of 28,761 shares changed hands across a total of 29 trades.
In line with its peer, HSBC Bank Malta plc rose by 0.2 per cent, thus partially snapping back last week’s loss. The equity was active over 26,530 shares, which were dealt over 17 deals to close the week at €2.74.
Conversely, Lombard Bank plc extended its stream of losses for the fourth week in a row, as it lurched downwards by a further 0.5 per cent, thus touching a new all time record low of €1.93. The equity was active over four sessions, in which it gained ground in one, turned negative in another, while it closed flat in the last two sessions of the week.
The other active bank, FIMBank plc, closed the week unchanged at $0.80 over two sessions. Activity was dealt over two trades totalling 29,250 shares.
On a positive note, from the telecommunications industry, Go plc recouped 0.6 per cent to close the week at the €0.855 price level after trading at an intra-week high of €0.87. The equity swayed from positive to negative in three sessions, while it traded flat on Tuesday. Turnover was on high volumes of 678,050 shares which were dealt across 41 transactions.
Likewise, both Malta International Airport plc and Maltapost plc managed to close the week on higher grounds. The former advanced by a further 0.5 per cent following last week’s gain, as investors displayed confidence following the positive traffic results for the month of August. A total of 50,000 shares were dealt over a single transaction to close the week at €1.759. Meanwhile, the latter managed to gain 1.2 per cent on very low volume, following a stream of negative performances to close the week at €0.64.
The other gainer for the week was Midi plc, which partially managed to cut back last week’s huge loss with 12 per cent gain on a meagre 900 shares. The equity closed the week at the €0.28 price level, thus a change of €0.03. Likewise, from the beverage sector, Simonds Farsons Cisk plc re-touched the €2.10 price level by gaining just below two per cent over a mere 480 shares.
Finally, the other non-mover for the day was Malita Investments plc, which closed at €0.52 after trading at an intra-week low of €0.519.
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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