The Malta Stock Exchange Index moved back into negative territory after the majority of the highly capitalised equities ended the week in the red. On the week, the index lost 1.09 per cent to close yesterday's session at 3,499.135 points. Financial equities were among the worst performers as investors could have reacted negatively to the publication of the 'Financial Stability Report 2009' published by the Central Bank of Malta on Wednesday. The report outlined that banks would be faced with stricter regulatory requirements, and may need to rethink their dividend policies. A total of 13 equities were active throughout the week, five of which gained, another five closed in decline while three equities ended the week flat.
Transactions across all traded securities decreased to 271 deals on the week, as a result of a lower number of transactions both in the Corporate Bonds and Government Stocks market. In the equity market, 267,286 shares were dealt over 132 deals. In the Corporate Bonds market 963,571 nominal was dealt across 84 deals, while in the Government Stocks market 50 transactions with a value of just over €3.2 million were executed. In the Treasury Bills market five transactions worth €13.8 million were dealt.
Bank of Valletta plc was the worst performing banking equity having lost 3.56 per cent or €0.12 as 45,035 shares changed hands across 36 deals. The equity's price fluctuated between a high of €3.39 and a low of €3.25. Despite this week's decline, year-to-date the bank's share price stands at nearly five per cent.
Similarly, HSBC Bank Malta plc share price closed the week on a negative note having ended three sessions in the red. Trading volume increased for the first time in three weeks as 52,878 shares were dealt over 31 transactions. The equity ended the week at this week's low of €3.03.
Middlesea Insurance plc shares also closed the week heading downwards at €0.855. Throughout the week, the equity's share price fluctuated minimally within a range of €0.855 and €0.88, with trading volume declining heavily to 25,060 shares. Lombard Bank Plc shares were active only during the initial session of the week trading flat at €2.92 as 4,400 shares were traded over two transactions.
After having closed unchanged for the past two weeks, Go plc shares closed the week under review down by 1.89 per cent. The equity closed flat on Monday, however, lost some ground in the following two sessions during which it was active, to end the week at €2.08. Following this week's negative move, the equity's year-to-date performance is down by 0.95 per cent.
6pm Holdings plc topped the list of gainers for the week as the equity closed up by 6.64 per cent on a single transaction of 6,000 shares. RS2 Software plc followed with a 3.31 per cent or €0.017 gain. The IT equity was active during three trading sessions as 19,150 shares were negotiated. Despite this week's gain the equity's performance year-to-date remains 4.85 per cent in negative territory.
Simonds Farsons Cisk plc shares were active only during Tuesday's trading session to end the week at €1.85 marking a 2.78 per cent gain. Volume traded amounted to 9,886 shares dealt across four transactions of which two were dealt at this week's high of €1.90.
Medserv plc shares ended the week up by 1.18 per cent or €0.05. Liquidity in this equity increased to over 26,000 shares changing hands across six transactions.
San Tumas Shareholdings plc closed unchanged at €2.60 on a single deal of 200 shares executed yesterday, elevating the price from a weekly low of €2.48 reached on Thursday. Likewise, Malta International Airport plc closed the week flat at €3.15, as liquidity dropped to just over 3,300 shares.
Maltapost plc shares closed the week in decline for the first time this month having lost 3.33 per cent on Tuesday's trading session. Trading volume maintained its downward trend as nearly 11,000 shares were traded, down from 40,745 shares traded last week.
International Hotel Investments plc shares managed to close the week on a positive note at €0.83. The equity kicked off the week with a strong 3.66 per cent gain, tumbling by 2.94 per cent during the mid-week session, recovering some ground the following day and trading flat yesterday. A volume of 41,095 shares was dealt in this equity over twelve transactions.
This article, which was compiled by Jesmond Mizzi, managing director of Jesmond Mizzi Financial Services Limited (JMFS), 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 tel. 2122 4410 or e-mail jmizzi@jmfs.net.