The Malta Stock Exchange index appreciated for the third consecutive week extending its gains by a further 1.9 per cent, to close at 3,952.496 points.
Activity was spread across 14 equities of which 11 gained ground, two declined and one closed unchanged on a turnover worth to €1.2 million.
Mapfre Middlesea plc (MMS) shares rallied by €0.25 or 17.9 per cent as 12 trades of 13,029 shares were negotiated, closing at a multi-year high of €1.65. This positive performance resumed following the preliminary agreement reached last week with Allcare Insurance Limited for the transfer of the insurance portfolio of Allcare Insurance Limited to MMS. This agreement is subject to all regulatory approvals from the relevant authorities – the application for approval was forwarded to the MFSA on Tuesday.
In the banking sector, HSBC Bank Malta plc shares were the best performers, having registered a 1.7 per cent gain across 30 deals of 45,083 shares, to close at €1.84.
Meanwhile, Bank of Valletta plc shares advanced by 0.13 per cent as 78 trades of 168,309 shares were struck, to close just below its weekly high of €2.285, at €2.28.
On a negative note, Lombard Bank Malta plc shares slipped by 2.5 per cent closing €0.047 lower at €1.82, after adjusting its share price to reflect its recent bonus issue of 1 share for every 20 held. The equity was negotiated over six deals of 26,600 shares.
Meanwhile, FIMBank plc shares were the only non-movers for the week, having closed unchanged at $0.465.
Elsewhere, Malta International Airport plc shares edged 0.2 per cent higher as 19 deals of 33,650 shares were struck, closing at €3.365. The local airport operator registered an increase of 9.9 per cent in passenger traffic in May 2015, compared to May 2014, welcoming a record number of 441,943 passengers. During summer, the airport will introduce two new routes to Helsinki and Warsaw, five new airlines and a number of additional frequencies.
On Wednesday, Simonds Farsons Cisk plc shares climbed by 0.3 per cent as a sole transaction of a mere 135 shares was struck, to close at a record high of €3.76. The company’s annual general meeting will be held on June 25.
RS2 Software plc shares sustained its recent winning streak by a further 1.33 per cent – thus registering its ninth consecutive weekly gain. The equity witnessed 16 trades of 31,791 shares, to close €0.045 higher at an all-time high of €3.425.
Similarly, Tigne Mall plc shares soared by €0.05 or 6.3 per cent as 22,000 shares changed hands, to close at a new high of €0.85. MIDI plc shares also experienced a positive week, having advanced by 10 per cent as 10 trades of 214,087 shares were struck, closing at €0.33.
International Hotel Investments plc shares reached a weekly high of €0.88 by Thursday to then decline 7.95 per cent yesterday on one trade of a mere 465 shares executed at €0.81 – albeit registering a 3.9 per cent gain on the week. The hoteliers’ equity was negotiated across 14 transactions of 62,246 shares.
On the other hand, Malita Investments plc shares fell by one per cent across 11 trades of 61,260 shares, closing at €0.95.
Medserv plc shares partially recouped its previous losses, having advanced by 0.5 per cent on eight deals of 35,500 shares, closing at €2.16.
Meanwhile, GO plc shares rose by a further 1.3 per cent, as 37,028 shares changed ownership, to close the week €0.041 higher at €3.10.
In the corporate bond market a total of 24 issues were active of which 13 gained ground, three fell and eight closed unchanged as turnover totalled €823,880. The 5.3% United Finance plc unsecured € Bonds 2023 was the top performer having rallied by 5.1 per cent, to close at €110.
Investors shyed away from the sovereign debt market this week as all of the active issues registered quite a significant decline. Turnover amounted to €21.2 million. The 4.5% MGS 2028 (II) was the most liquid issue for the week having witnessed a turnover volume of 10.3 million, closing 1.9 per cent lower at €129.16. The 4.1% MGS 2040 (I) registered the highest loss for the week of 2.8 per cent, to close at €109.88.
This article which was compiled by Jesmond Mizzi Financial Advisors Limited, does not intend to give investment advice and the contents therein should not be construed as such. The company is licensed to conduct investment services by the MFSA and is a member of the Malta Stock Exchange and a member of the Atlas Group. 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 Jesmond Mizzi Financial Advisors Limited at 67, Level 3, South Street, Valletta, or on Tel: 2122 4410, or e-mail info@jesmondmizzi.com.