The Malta Stock Exchange index ended on a positive note for the third consecutive week, as it gained another 0.39%, hence closing at a yearly high of 3,443.561 points recorded during Wednesday's session, the last trading session for the week due to the festive season.

The index recorded gains in all three trading sessions as gains increased at a diminishing rate, with the lowest registered in mid-week as the index ended on a negligible 0.003%. Trading volume was thin on Tuesday, as just over 24,000 shares were traded, compared to Monday's session, with shares traded totalling 38,818.

However, during the last trading session, activity soared as 65,070 shares were traded across 54 deals, the highest amount of transactions for December. Eleven equities were active this week with eight closing in positive territory, two remaining unchanged, and one closing in the red.

Total transactions for the week amounted to 230 deals with a turnover of over of €1.98m. In the equity market, 135 deals were executed for a total value of €379,068, while in the corporate bond market 72 transactions were registered for a value of €406,217.

On the other hand, 19 transactions in the government bond market totalling €254,527 were executed across 11 securities. In the treasury bills market, similar to last week, four transactions were conducted, amounting to €943,438.

Middlesea Insurance plc registered a hefty gain of 11.11% on the week as it ended in positive territory in the first two sessions, while registering minimal losses on Wednesday. The equity rose 6.13% on Tuesday, building on gains from Monday, when it registered gains of 5.49% as 13,457 shares were swapped over 10 transactions. However, the company share price fell on Wednesday by 0.75% or €0.006 as 17,342 shares were traded across 14 deals. The equity closed the week at €0.79, thus recovering somewhat from the lows registered earlier in the month.

The most liquid equity this week was Bank of Valletta plc (BoV) as just over 41,000 shares were traded, up from 34,000 last week. Week-on-week, the equity closed in positive territory, edging 0.5% higher to close at €3.799, as 45 transactions were executed. BoV closed the initial two sessions at €3.80 as a gain of 0.53% was registered over the December 18 session. Meagre losses amounting to €0.001 were recorded on Wednesday. Year-to-date, the equity is still outperforming others, with year to date gains totalling 31.38%.

Similarly, Go plc registered gains on Monday and Tuesday, while falling on Wednesday's session, during which trading volume soared from 2,000 shares to 19,000. However, the gains registered on the week were enough for the equity to close on a positive note, as over last week it gained 1.15%.

The equity's positive stance further enhances its year-to-date performance, which stands at 20.38%, as it closed the week at €2.109. The quadruple play operator traded at a low of €2.06 on Tuesday and a high of €2.12 on Wednesday.

Meanwhile, out of the three highly capitalised equities, HSBC Bank Malta plc was the only one to close all sessions either in positive or stable territory. Minimal gains were only registered on Tuesday, as the price rose by a negligible 0.15%, or €0.005, to reach €3.235, which it maintained during the mid-week session.

Similarly to last week, 25 deals were executed as trading volume increased to 30,765 shares. HSBC's year-to-date performance now stands at a positive of 19.81%.

Likewise, Lombard plc registered gains only on Tuesday, while closing unchanged on the remaining two sessions. One single transaction was recorded on each session as over 6,218 shares were swapped, down from 18,000 last week. The equity's price reached €2.97 during the week, only 1% away from its yearly high.

On Monday, the bank ann-ounced that the board of directors have scheduled a meeting for March 11, 2010 to consider and approve the group's and the bank's audited financial statements for the financial year ended December 31, 2009 and to consider the declaration of a final dividend to be recommended to the bank's annual general meeting.

Contrary to last week, FIMBank plc was the worst performing equity, after it headed the list of gainers. The equity traded unchanged on Monday; while a mere 86 shares dealt over one transaction on Tuesday depreciated the price by 6.03%, or $0.07, to rest at $1.09. This worsened the equity's year-to-date performance, which now stands at a negative 26.15%.

For the second week running, Global Capital plc ended on a positive note. On Tuesday, on 2,000 shares the equity gained 4.17%, or €0.05, as one transaction was recorded. Another deal on Wednesday lifted the price by a further 2.40% to reach its weekly high of €1.28.

Two transactions in Medserv plc of 580 shares elevated the price by 1.19% to reach a new all time high of €4.25. The equity's year-to-date performance stands in positive territory, edging 6.33% higher on the year.

International Hotel Investments plc traded only during Monday's session as 5,626 shares were bought and sold across two transactions, as the price stands at €0.80.

Likewise, Simonds Farsons Cisk plc traded unchanged at €1.70, as one single transaction of 500 shares was executed.

MaltaPost plc, the second-best performing equity of the week, appreciated from last week's closing price of €0.69 to €0.72 as 12,600 shares changed hands over nine deals.

Island Hotel Group Holdings plc on Wednesday announced that it had acquired the perpetual emphytheusis over a tract of land of approximately 83,000 square metres adjacent to the Radisson Blu Golden Sands Resort and Spa, as well as the shares in Hal Ferħ Company Limited, for a total cost of about €12 million, following a public tender issued by the government.

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.