Following last week’s negative performance the Malta Stock Exchange index widened its stream of negative performance to four, as the index recorded a minimal loss of 0.15 per cent to end the week at 3,078.788 points. Despite the positive performances recorded by the two highly capitalised banking equities, the index failed to switch direction, as the heavy losses recorded by Go plc and Malta International Airport plc have black shadowed the index performance with the MSE trading in the red in three out of five sessions. Turnover during the week increased to €834,132 traded over nine equities, as four appreciated in value, three edged lower and two closed unchanged. In the week a total of 633,227 shares were traded across 142 transactions.
In the Government Stock Market turnover decreased to just over nine million traded across 18 issues, of which 13 closed higher and five eased lower with most of the long-dated issues registering minimal gains.
Meanwhile in the Corporate Bond Market, running yields were quite unbalanced, as from the 32 active issues 12 traded in positive territory, five lost ground and 15 closed sideways. The best performer for the week was the 7.15% Mediterranean Investments Holding plc GBP 2015-2017 which gained 2.6 per cent, while the negative on the week was the 7% Midi plc GBP 2016-2018 which slipped by three per cent.
In the Equity Market, after drifting lower for the past weeks, banks managed to end the negative saga by posting minimal gains. Bank of Valletta plc share value appreciated by 0.4 per cent or €0.01 after trading at an intra-week low of €2.499 to end the week at €2.52. A total of 142,718 shares changed ownership over 69 transactions.
Likewise, HSBC Bank Malta plc managed to move in line with its peer as the bank snapped a 0.8 per cent gain or €0.02 over 34 trades of 56,400 shares to notch the price up to €2.67.
Meanwhile, following last week’s negative performance Lombard Bank plc closed flat at €2.68. Throughout the week the bank traded at a high of €2.70 which it failed to maintain in the mid-week session as it posted a loss of 0.7 per cent. Total trading value amounted to €70,224 which was traded over seven transactions.
The other non-mover for the week came from the hoteliers industry, as International Hotels Investments plc closed flat at €0.73 as two transactions of 9,299 shares were executed.
From the information technology sector, RS2 Software plc was logged as the best performer for the week as its share price surged by 5.4 per cent to end the week at €0.58. Tuesday was the winning streak as the equity posted a strong gain of 5.3 per cent influenced by the positive interim results the company had announced on Monday. The group registered a significant rise in its profit before tax for the period under review, from €78,055 in 2010 to €1.55m in 2011. The equity’s trading volume was on the high side as 371,160 shares were traded over 11 transactions.
From the postal industry, Maltapost plc advanced by 0.9 per cent to end the week at €0.979 over a single session of 1,700 shares. Conversely, the worst performer for the week was Go plc, as the telecommunications operator was knocked sharply lower by 5.1 per cent to end the week at €1.201. Wednesday proved to be the most unpleasant session of the week as news from abroad has put a damper on investors’ sentiment. In fact the negative results published in the morning by the Greek telecoms operator Forthnet in which the local equity has an indirect investment seem to have influenced investors as the equity came under selling pressure to post a heavy loss of 4.4 per cent. Furthermore, on the same day the company announced its financial statements for the six-month period ended June 30, in which it registered a loss before tax of €14.13 million during the period under review, compared to € 0.65 million for the same period last year.
Similarly, 3.8 per cent were shaved off Malta International Airport share value with the airport operator ending the session at €1.52 across 5,400 shares which were executed over a single session on Monday. In addition, Midi plc shares plunged by 2.3 per cent over 1,000 shares to end the week at €0.42.
This article, which was compiled by Atlas JMFS Investment Services Limited, does not intend to give investment advice and the contents therein should not be construed as such. Atlas JMFS is licensed to conduct investment services by the MFSA and is a member firm of the Malta Stock Exchange.
The directors or related parties, including the company, and their clients are likely to have an interest in securities mentioned in this article.
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