The Malta Stock Exchange index gained 1.48 per cent to close at 3086.62 and is now only 3.79 per cent down year to date.
Last Monday the index had its best day as it opened the week with a positive move of 0.664 per cent. On Tuesday and Wednesday the index gained another 0.2 per cent and 0.369 per cent respectively. The positive trend continued on Thursday as the index increased by 0.27 per cent. However, the end of week session saw a slight drop in the index of 0.027 per cent.
A total of 259 deals were registered over the week with a turnover of just over €2.84 million. In the equity market 133 transactions were executed for a total value of €645,724, while in the government bond market 46 transactions were registered for a traded value of €872,298. A total of 65 transactions were registered in the corporate bond market for a value of €515,822. In the Treasury bills market a total of 14 transactions were registered for a total value of €807,948.
The share price of Bank of Valletta plc closed the week up a staggering 8.21 per cent. On Monday BOV was up 4.12 per cent and on Tuesday it was up again by another 1.18 per cent. On Wednesday as 14,642 shares changed hands the share price climbed another 2.33 per cent while on Thursday six trades of 4,950 shares resulted in an increase of 0.38 per cent. The volume traded this week reached 56,667 shares across 58 deals.
HSBC Bank Malta plc also ended the week in positive territory as the share price increase by 0.78 per cent. This increase was registered on Thursday as 8,090 shares changed hands in eight deals. The equity ended the week at €2.60 as 48,940 shares changed hands on 36 deals.
Lombard Bank plc was the only loser in the banking sector as the share price fell by 3.7 per cent to close the week at €2.60. In fact on Tuesday Lombard Bank plc shares were the only equities to fall in price as 1,100 shares were exchanged in a single trade. Once again yesterday the equity was the worst performer of the day, shedding 1.89 per cent on a single trade of 1,500 shares executed at €2.60.
On the other hand FIMBank plc retained last week's price at $1.28 as 317,500 shares changed hands in 10 deals. This week, FIMBank plc announced that the board of directors will be meeting on Thursday, August 13 to approve the half-yearly financial report for the six months period ending June 30 and to consider the payment of an interim dividend, if any.
Go plc was another positive performer this week as the share price was up 1.16 per cent as 33,685 shares changed hands across 22 deals. On Friday Go plc was the only gainer in the equity market as it gained 0.64 per cent on a volume of 6,000 shares.
The best performer on Tuesday was GlobalCapital plc which gained 3.33 per cent over its previous closing price, as only 100 shares changed hands in a single deal. The equity had last traded on May 7.
The share price of Malta International Airport plc ended the week in negative territory as the share price fell by 0.91 per cent to €2.18 as on Monday a single trade of 1,500 shares was executed.
On Wednesday, Simonds Farsons Cisk plc was the day's worst performer as only 400 shares changed hands in a single deal, closing at €1.85, a loss of 0.54 per cent.
On Thursday, Tumas Investments plc announced a €20 million bond issue at a coupon of 6.25 per cent per annum, with an option to increase the amount by a further €5 million in the event of over-subscription. The bonds have a final maturity date of July 31, 2016 but may be redeemed between July 31, 2014 and July 30,2016.
The bonds are guaranteed by Spinola Development Company Ltd, the owner and operator of the Portomaso project which incorporates the Hilton Malta hotel and various commercial amenities. The proceeds from the bond issue will be advanced to the guarantor and mainly used to refinance existing banking facilities.
The bonds constitute the general, direct, unconditional, unsubordinated and unsecured obligations of the issuer and shall at all times rank pari passu with other outstanding unsecured obligations.
The offer to the public will open on July 3 while the pre-placement agreements by intermediaries will be placed on July 1.
This article which was compiled by Jesmond Mizzi Financial Services Ltd does not intend to give investment advice and the contents therein should not be construed as such.
JMFS is licensed to conduct investment services by the MFSA.
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 JMFS at 67/3, South Street, Valletta or on telephone 2122 4410 or e-mail jmizzi@jmfs.net.