The Malta Stock Exchange index maintained its positive ground as it is increased by a further 0.6 per cent to end the week at 3,411 points.
The MSE registered gains in four sessions but suffered a marginal decline on Thursday, to be offset by a 0.7 per cent gain yesterday.
The IT operator RS2 Software plc managed to reach two record highs during the week, while International Hotel Investments plc headed the list of losers.
Positivity prevailed throughout the week as, out of 16 active equities, 10 recorded an increase in their share price, two declined and four closed the week unchanged. Total trading volume for the week amounted to €956,954 spread over 140 transactions of a total of 715,166 shares.
Meanwhile, from the local sovereign debt market, activity was dealt across 105 trades of over €32.2 million, with minimal price movements overall. The most active issue for the week was the 3.75% MGS 2015(VI) as total trading volume amounted to 13 million nominal, followed closely by the 7.8% MGS 2018 which surpassed the 10 million nominal.
In the corporate bonds market trading, value amounted to €858,115 across 22 different issues in which the 4.6% HSBC Bank Malta plc € 2017 and 7% Grand Harbour Marina plc € 2017-2020 were the only bonds to register a decline from their open price of the week. The 273-Day Treasury Bill 02.11.12-02.08.13, 182-Day Treasury Bill 15.02.13-16.08.13 and the 182-Day Treasury Bill 05.04.13-04.10.13 were also active across three trades of over €2.4 million.
Mediterranean Bank plc this week announced a bond issuance of €10 million in aggregate, at a coupon of 7.5 per cent Subordinated Bonds redeemable in 2019, following the necessary approval by the Listing Authority. The bonds will be issued at par in tranches denominated in euro and sterling and are unsecured and subordinated. The Prospectus will be available from authorised intermediaries as of next Monday.
From the IT sector, RS2 Software plc experienced an extremely positive week as it managed to recoup last week’s negative performance, while also recording two all-time record highs; highest price traded at €1.30 and highest closing session price of €1.275. The equity flourished by 14.9 per cent over the week, despite touching a low of €1.10, as 22 transactions of 109,200 shares took place, to close at €1.275.
Meanwhile, 6PM Holdings plc and Crimsonwing plc both traded unchanged at the £0.60 and €0.58 respective price levels. The former witnessed a single deal of 2,000 shares, while the latter was negotiated over two transactions of 12,000 shares.
Investors showed great confidence in the financial sector, as all active financial equities recorded an increase in their share price. Bank of Valletta plc, HSBC Bank Malta plc (HSBC) and Lombard Bank Malta plc all extended last week’s gains as they appreciated by a further 0.7 per cent, 1.5 per cent and 2.9 per cent respectively. The banking equities closed at the €2.28, €2.73 and €1.75 respective price levels. HSBC was the most volatile equity out of the three as it fluctuated between a weekly high of €2.73 and a weekly low of €2.64.
Likewise, FIMBank plc advanced by 2.5 per cent over the highest turnover for the week of 293,600 shares, to close higher at US$1.025.
Similarly, Middlesea Insurance plc edged 0.1 per cent higher across eight deals of 10,365 shares, to close at €0.811.
Conversely, Go plc slipped by 0.8 per cent, as 29,810 shares exchanged hands across four deals, to close at €1.537. Similarly, International Hotel Investments plc lost ground as it fully reversed last week’s gains as it fell by 3.3 per cent over two trades of 1,000 shares, closing €0.03 lower at €0.87.
Meanwhile, from the same industry Island Hotels Group Holdings plc rallied by a further 6.5 per cent as eight deals of 28,500 shares were struck, to close at €0.57.
From the food and beverage industry, Simonds Farsons Cisk plc strengthened by 3.8 per cent across four deals of 9,647 shares, closing at an all-time high of €2.75. The company issued an interim directors’ statement in which it noted that the group’s profitability for the first three months of the current financial year compares favouably with that recorded during the same period last year. The company is planning to invest in a new beer packaging hall in order to strengthen its competitive edge and export market opportunities.
On a similar note, Malta International Airport plc enjoyed a strong week as it rose by €0.04 or two per cent as 5,515 shares were negotiated across five trades, closing at €2.04, as all time high. Furthermore, Plaza Centres plc rose by 1.8 per cent as two transactions of 5,200 shares took place, to close at €0.57.
Meanwhile, the other non-movers for the week were Grand Harbour Marina plc and Malita Investments plc as they both closed unchanged at the €1.95 and €0.51 respective price levels. The former was executed over a sole trade of 1,000 shares, while the latter was negotiated across three deals of 8,400 shares.
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. The company is acting as sponsor to the Mediterranean Bank bond issue.
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.