In a four-day trading week, the local market was dominated by the positive performance registered by Malta Government Stocks as some economic data in the Euro area early in the week disappointed while concerns over a possible US government shutdown increased.
Local bonds, holding a maturity greater than 14 years, registered the strongest performances among the active issues.
A total of 22 issues were active of which 18 gained ground, while four headed south. The 2.1% Malta Government Stock 2039 continued to rally for the fourth consecutive week as the bond’s price added 0.3 per cent to last week’s closing at €102.50. Turnover in this market reached €8.6m.
Meanwhile, in the corporate debt market a total of 36 issues were active of which, 13 headed higher, while 14 declined.
Two new issues commenced trading during the week being the 3.75% Bortex Finance plc Unsecured Bonds 2027 and the 3.75% Virtu Finance plc Unsecured Bonds 2027, both of which registered advancements closing at €100.50 and €102 respectively. The MSE Equity Total Return Index erased last week’s increase as the index closed 0.24 per cent lower at 8,485.097 points.
A total of 17 equities were active during the week of which eight headed north, while six headed the opposite direction.
The decrease in the index was mainly registered due to negative performances in the major banks; particularly HSBC Bank Malta plc and Bank of Valletta plc, with International Hotel Investments plc, Malta International Airport plc and GO plc easing the downward pressure as all three equities closed higher.
In the banking industry, Lombard Bank plc shares outperformed its peers as a single trade of 5,000 shares on Thursday was enough to push the price 0.5 per cent higher to close at €2.211.
HSBC Bank Malta plc and Bank of Valletta plc shares both closed in negative territory. HSBC shares traded 12 times generating a total turnover of €31,450 closing 3.3 per cent lower at €1.799.
BOV shares closed in the red as 60 trades saw 196,484 shares exchange hands. The equity’s price fluctuated between highs of €1.79 to lows of €1.74, settling at the €1.75 price level. Elsewhere, four trades in FIMBank plc, amounting to 245,600 shares, saw the price of the equity decline by 0.8 per cent to close the week at $0.61.
In the telecommunications sector, GO plc shares closed the week in the black as the equity gained 0.9 per cent to close the session at €3.58. A total of four transactions managed to generate a total turnover of €16,740.
International Hotel Investments plc shares spiked mid-week as two trades amounting to 7,236 shares managed to add 6.7 per cent to its price closing at €0.62.
Last Thursday, Malta International Airport plc (MIA) announced that the company registered solid results for the month, with November becoming the 14th consecutive month to achieve double-digit growth in passenger movements.
In terms of secondary market activity, a total of 7,900 MIA shares were dealt over four deals as the equity’s price increased by a marginal 0.22 per cent, closing at €4.66.
Insurance firm Mapfre Middlesea plc, registered a single trade over slim volume managing to add 1.1 per cent to its value to close at the €1.80 price level.
This week, the Board of Directors of Simonds Farsons Cisk plc announced that the Board of the Planning Authority had unanimously approved a permit for the creation of a business park along Mdina Road, Mrieħel.
The project is expected to commence during the first half of 2018. A total of seven trades were recorded during the week as turnover reached €29,464.
Over a total turnover of €43,064 spread over 10 transactions, RS2 Software plc closed flat at the €1.52 price level.
In the oil and gas sector, Medserv plc shares lost a marginal 0.1% to close the week at the €1.12 price level. A total of three deals saw 3,740 shares exchange hands.
This week, the PG plc equity held firm at its €1.45 price level despite being active six times, generating a total turnover of €4,894.
Grand Harbour Marina plc shares surged by 5.1% over a single trade of 1,000 shares on Tuesday closing at €0.763.
On January 31, 2017, Malta Properties Company plc had announced the agreement between SLM Property Company Limited and Toncam Properties Limited (Toncam) regarding the promise of sale agreement for Toncam to acquire the Sliema Old Exchange.
On Thursday, both parties have entered into an agreement to extend the promise of sale agreement to August 1, 2018.
The equity closed the week at a fresh all-time low of €0.455.
MIDI plc shares gained 1.5 per cent as a single trade over a slim volume managed to push the price to the €0.35 price level.
On the other hand a single trade of 35,000 shares in Tigne Mall plc shares saw the price shrink by 0.5 per cent to close at €0.965.
Elsewhere, three trades amounting to 37,000 shares on Monday were not enough to alter the price of Plaza Centres plc shares to close the week unchanged at €1.02.
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