The MSE Equity Total Return Index was down again for the sixth consecutive week - this time by 1.26 per cent, to close at 8,493.306 points – the lowest point in 12 months.
A total of 17 issues were active during the week of which 10 closed lower, while three ticked higher. Despite trading on relatively shallow volumes, Mapfre Middlesea plc and International Hotel Investments plc registered the weakest weekly performances.
The former declined by 6.32 per cent over seven trades worth €22,894, while International Hotel Investments plc fell by 6.29 per cent over nine trades, in which a total of 9,863 shares were exchanged. The price tag at the end of yesterday’s session read €1.78 and €0.581 respectively.
Total turnover during the week amounted to €1.65 million spread over 213 transactions.
In the banking industry, Bank of Valletta plc traded heavily as a total of 416,620 shares were exchanged over 95 deals, ahead of the bank’s rights issue. Trading in this equity accounted for almost 46 per cent of total trading. The equity lost 0.78 per cent of its value during the week, to close at €1.786.
Bank of Valletta plc’s peers, HSBC Bank Malta plc and Lombard Bank plc, both registered some activity but closed unchanged at €1.86 and €2.20 respectively.
Last Monday, HSBC Bank Malta plc published its interim directors’ statement, in which it stated that during the period from July 1 to November 15, 2017, HSBC Malta reported a decline in profit before tax compared to the same period in 2016. Although profitability was lower during the period, it remained broadly in line with management expectations, consistent with the bank’s prioritisation of risk management actions in 2017.
On a positive note, FIMBank plc experienced a 5 per cent price appreciation, as the equity closed at $0.63. This positive price movement came as a direct consequence of seven deals, in which 185,846 shares changed hands.
In the property sector, MIDI plc’s equity price ticked 4.62 per cent higher over 12 deals worth €68,834. Similarly and in the same line of business, Plaza Centres plc closed in the green, as the price per share increased by 0.9 per cent, to close at €1.011.
This result was achieved over a single trade of 5,000 shares.
Malta Properties Company plc was the sole equity within this sector which closed in the red, as it depreciated by 1.38% over nine trades worth €36,002. The price at the end of the week’s final trading session read €0.50.
Property company, Malita plc, was traded on three separate occasions but closed unchanged at €0.751 on 27,862 shares.
Despite all registering declines, GO plc, Global Capital plc, Medserv plc and PG plc experienced varying declines.
Telecommunications company, GO plc and retail conglomerate, PG plc slipped by 2.36 per cent and 2.03 per cent respectively, while Global Capital plc and Medserv plc each depreciated by over 4.7 per cent despite being active over low turnover.
GO plc closed off the week at the €3.515 price level, following 18 trades worth a total of €271,113, while PG plc settled at €1.45 over four deals which yielded a total of 27,200 traded shares.
Global Capital plc and Medserv plc closed at €0.34 and €1.205 respectively.
Last Wednesday, Medserv plc’s Directors published their interim report stating that their earnings for the second half of the reporting year are lower than forecast due to projects both in Integrated Logistics Support and Services and Oil Country Tubular Goods commencing towards the end of the year.
Meanwhile, the second OCTG base opened by the Group in Duqm, Sultanate of Oman, commenced operating this month.
This was in support of a contract, the largest ever won by the Medserv Group, awarded in the beginning of this year for an initial period of five years with a five-year extension option.
Malta International Airport plc shares were once again in the red, as the equity contracted by 0.43 per cent, closing at €4.60. A turnover of €75,242 was registered, spread over 13 deals.
Similarly, RS2 Software plc shares extended their negative performance for the eighth consecutive week, as the equity settled at €1.523 price. The equity featured in six trades in which a total of 24,746 shares were exchanged.
Food and beverage firm, Simonds Farsons Cisk plc was active over six trades but closed unchanged at €8.76
In the corporate debt market a total of 40 issues were active during the week of which 18 gained and 14 headed in the opposite direction. The 5.75% International Hotel Investments plc Unsecured € 2025 headed the list of fallers, following a 2.94 per cent price contraction, to close at €104.80, while the 6% Island Hotels Group Holdings plc € 2024 closed off the week at the opposite end of the spectrum at €107.90 – a 1.78 per cent week-on-week gain.
In the sovereign debt market, a total of 23 issues were active of which the absolute majority amounting to 16 headed north, while six closed lower. The longer dated bonds experienced the best performances. As a matter of fact, the 2.4% Malta Government Stock 2041 (i) r closed 1.43 per cent higher at €106.50.