Four consecutive days of gains for the Malta Stock Exchange index resulted in an increase of 6.02 per cent on the week, closing at 3,189.564 points. Gains from Monday to Thursday were of 1.682 per cent, 2.658 per cent, 1.95 per cent, and 0.251 per cent respectively. However, yesterday's trading session was contradictory to the whole week, as the index lost 0.623 per cent.
The index's year-to-date performance has now decreased from a negative 6.23 per cent to a negative 0.58 per cent. This week 12 equities were traded, as seven closed in positive territory, one remained unchanged, while four closed in negative territory.
A total of 332 deals were registered over the week with a turnover of over €13.08 million, with almost half the deals being registered in the equity market, as 157 deals were executed for a total value of €591,272, more than double the value traded last week.
In the government bond market 69 transactions were registered for a value traded of over €1.93 million, while a total of 94 deals were registered in the corporate bond market for a value of over €1.5 million. Trading in Treasury bills also increased, as a total of 12 transactions were registered for a total value of over €9.05 million.
Bank of Valletta plc sustained its upward momentum, having closed the week at €3.36. BOV registered a rise of 8.74 per cent, as 87,625 shares changed hands on 55 deals. The equity traded at a weekly high of €3.45, reached on Thursday, while trading at a low of €3.098. As at yesterday's price BOV's year-to-date positive performance now stands at 16.2 per cent.
The share price of HSBC Bank Malta plc registered a rise of 6.5 per cent this week, as the equity registered the most deals, with 81,792 shares changing hands across 58 transactions, for a total value of €230,515. The closing share price for the week was €2.801, an increase of €0.171. The equity traded at a low of €2.63 and a high of €2.915.
FIMBank plc recovered some of last week's losses, registering a marginal rise of $0.005, closing the week at $1.20, with 21,000 shares changing hands on four deals.
Lombard Bank plc was the only banking equity to register losses, having declined by 1.57 per cent. Lombard closed the week at €2.50, a loss of €0.04, as 1,910 shares changed hands over four deals.
International Hotel Investments plc was the best performing equity this week, with a solid rise of 10 per cent. The equity registered three deals of 2,583 shares, closing the week at €0.88, appreciating by €0.08. With this rise, IHI's year-to-date performance is now at a negative of only 1.68 per cent.
Simonds Farsons Cisk plc regained its year-to-date positive performance, closing the week with a rise of almost 6.2 per cent, having traded only on Tuesday with a single trade of 840 shares. SFC closed the week at €1.699, a rise of €0.099. On Wednesday afternoon, the group announced that the board of directors approved the group's financial statements and half yearly report for the six-month period ending on July 31, 2009.
The group saw a decline of 4.3 per cent in its revenue, from €35.01 million in 2008 to €33.5 million in 2009. On the other hand, profit before tax for the period increased from €1.57 million in 2008 to €2.01 million in 2009, a rise of almost 27.8 per cent. The board of directors also resolved to distribute, out of tax exempt profits, an interim dividend of €0.01 per share on all ordinary shares. This dividend will be paid on October 23, 2009 to the ordinary shareholders on the Register as at the close of business on October 9, 2009. This will amount to a total interim net dividend of €300,000.
The share price of Malta International Airport plc continued to appreciate this week, having closed the week at €2.374, a rise of €0.144. MIA registered three deals of 1,053 shares, thus increasing by almost 6.5 per cent on the week.
Maltapost plc traded only on Thursday, closing at €0.70, increasing by 1.45 per cent, with 800 shares changing hands on a single transaction.
Medserv plc closed the week unchanged at €3.745, as 750 changed hands on a single deal.
Middlesea Insurance plc declined by 2.44 per cent this week, closing the week at €1.60, depreciating by €0.04, having registered two trades of 1,100 shares.
Plaza Centres plc closed the week at €1.635, having retreated by €0.005, as 1,200 shares changed hands on a single deal.
A marginal decrease of 0.19 per cent in the share price of Go plc occurred during the week as the price fell by €0.001 in three trading sessions.
The equity closed the week at €1.577, with 24,400 shares changing hands on 24 transactions.
During the week, Melita Capital plc announced that the €20 million Bond maturing between 2014 and 2016, with an over allocation option of €5 million, was over-subscribed.
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.