Index maintains positive trend

Following last week’s solid gain, the Malta Stock Exchange Index re-confirmed its positive trend as it gained a further 0.6 per cent to end the week at 3,133.498 points. Thursday’s strong session emerged to be the main contributor towards the broader market, as the index recorded a 1.1 per cent gain which was reflected by the outstanding performance recorded by International Hotels Investments plc. As opposed to last week turnover increased to €423,604 traded across eight equities, of which one closed markedly higher, four lost ground and three closed unchanged.

Total trading volume this week amounted to 188,309 shares traded across 126 transactions.

Meanwhile, investors’ confidence continued to prevail on the Government Stock Market with nine from the 16 active issues appreciated in value, while six edged lower and one closed flat. Long-dated issues headed the list of gainers with the 5.5 per cent MGS 2023 gaining 1.5 per cent followed by the 5.1 per cent MGS 2022 which rose by 1.2 per cent. During the week turnover decreased further to just over €3.6 million traded over a total of 85 transactions.

In the Corporate Bond Market, running yields were quite unbalanced, as nine issues gained ground, seven depreciated in value and 13 closed sideways. As the company announced that operations at Palm City Residences were at full swing following requests made by new clients to lease units, the 7.15 per cent Mediterranean Investments Holding plc Euro 2015-2017 was the best performer this week by registering a 2.1 per cent gain.

In the Equity market, International Hotels Investments plc shares emerged to be the sole gainer for the week, as the hotelier’s operator share value surged by a strong 9.6 per cent. It must be pointed out that the equity was active in a single session with 1,000 shares being traded over a single trade to end the week at €0.80. It must be said that such price movements on very low volume are very common in the local market.

From the banking sector, Bank of Valletta plc halted its recent upward trend, as the banking equity was the worst performer for the week as it plunged by 3.5 per cent to end the week at €2.50. BoV’s share price kicked off the week by registering a positive session which it than reverted on Tuesday, while it posted a minimal gain in the mid-week session. On Thursday, following the negative news that a new judicial protest was filed by 40 investors alleging breaches by BoV, the bank’s share value slipped by 1.6 per cent followed by a heavy loss of 2.3 per cent yesterday. The equity was once again the most liquid issue, as total trading volume amounted to 126,529 shares which were executed across 82 transactions.

HSBC Bank Malta plc closed the week unchanged at €2.70 after trading at an intra-week high of €2.731. On the first trading session of the week the equity advanced by 1.1 per cent which it maintained in the following three sessions. Yesterday investors turned their back on the banking equity as it registered a loss of 1.1 per cent, thus cancelling last Monday’s gain. The other active financial for the week was Lombard Bank plc which closed flat at €2.70, as 1,000 shares changed hands over a single session yesterday.

From the postal industry, Maltapost plc snapped a 0.9 per cent loss over a single session on Thursday. The equity’s turnover amounted to a mere of 60 shares which were dealt over one single trade to close the week at €0.97. Likewise, 0.7 per cent was shaved-off Malta International Airport plc share value to end the week at €1.53 over a total of 1,360 shares which were traded across five transactions.

The other negative performer for the week came from the telecommunications sector, as Go plc shares slipped by a minimal 0.08 per cent on Tuesday which it than maintained in the following three sessions to end the week at €1.20. A total of 17 transactions worth €50,597 were traded over 42,260 shares. Meanwhile, from the beverage sector, Simonds Farsons Cisk plc maintained its previous closing price at €1.795 over thin-trading of 300 shares over a single session on Thursday.

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.

For further information contact Atlas JMFS at 67, Level 3, South Street, Valletta, or on Tel: 2122 4410, or e-mail [email protected].


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