In a rather quiet week, the MSE Index remained relatively unchanged as it lost a marginal 0.046 per cent at 4,629.201 points.
A total of 19 issues were active during the week of which five gained ground, while the losers and non movers talled to seven.
Total turnover in the equity market plunged from €2.1 million to €0.753 million.
In the banking sector, Bank of Valletta plc shares registered the best performance among its peers as the equity advanced by 1.3 per cent to close at €2.189 – as 39 trades accounted for 30 per cent of total turnover.
HSBC Bank Malta plc followed suit, as it managed to fully recoup last week’s loss, to close 0.45 per cent higher at €1.99,as 27,569 shares were exchanged over 13 deals.
On the contrary, a single trade of 3,146 shares in Lombard Bank plc managed to shave off 3.8 per cent of the equity’s price to close at €2.30. Similarly, three transactions amounting to 2,457 shares saw the price of FIMBANK plc decline by 0.6 per cent to close at $0.775.
On the same note, Medserv plc shares hit a fresh two year low as the equity closed the week at €1.19 – as 14 transactions generated a total turnover of €80,527.
Malta International Airport plc shares extended its winning streak for the third consecutive week as the equity gained 0.5 per cent to close at €4.149.
A total turnover of €85,276 was generated across 18 deals.
PG plc shares erased last week’s marginal gain as the equity slipped by 3.8 per cent to close at €1.25.
Similarly, GO plc shares cancelled the majority of last week’s gain as the equity closed 1.4 per cent lower at 3.50 – as seven trades generated a total turnover of €103,085.
Maltapost plc shares added one per cent to the four per cent registered last week as the equity hit a five week high at €2.05 – over a single trade on slim volume.
On the other hand, 18,715 shares spread over eight deals in RS2 Software plc saw the equity contract by 1.3 per cent to close the week at €1.53.
Loqus Holdings plc shares halted a two-month drought as a total of 44,117 shares were exchanged over six deals, closing flat at €0.17.
Elsewhere, a slim turnover was also registered in International Hotel Invesments plc and GlobalCapital plc shares over three and two deals, closing unaltered at €0.62 and €0.34 respectively.
On Monday, trades amounting to 4,680 shares saw the price of Mapfre Middlesea plc increase by 1.5 per cent to close at €1.98.
Simonds Farsons Cisk plc shares fell marginally below its all time high at €7.551 to close the week at €7.55 – as three transactions generated a €30,049 turnover.
In the property sector, Plaza Centres, MIDI plc, Malita Investments plc and Malta Properties Company plc all traded on a slim turnover to close unchanged at €1.04,€0.315, €0.72 and €0.51 respectively.
In the corporate bond market, a total of 29 issues were active during the week of which 13 gained ground, eight headed south, while eight remained flat.
Last Monday, regulatory approval was recieved for the issuance of €40m 5.0% Mediterranean Investments Holding p.l.c. Unsecured Bonds 2022, at par with a nominal value of €100 per Bond, guaranteed by Corinthia Palace Hotel Company Limited.
Furthermore, the Company said it will be redeeming the 7.15% EUR, GBP and USD denominated bonds 2015-2017 on 6 July 2017 in accordance with the terms of the prospectus dated June 14, 2010.
Last Monday, Tumas Invest-ments plc announced that the Listing Authority of the Malta Financial Services Authority granted its approval for the issue of an aggregate principal amount of €25m 3.75% Unsecured Bonds due 2027, with a nominal value of €100 per bond, to be issued at par, which are guaranteed by Spinola Develop-ment Company Limited (C 331), pursuant to a prospectus dated 29th May 2017.
The company will be redeeming the €25m 6.2% Bonds 2017-2020 on July 10, 2017 in accordance with the terms of the prospectus dated June 9, 2010.
The net proceeds from the New Bonds will be used to redeem the outstanding amount of Maturing Bonds remaining in issue on July 10, being the date of redemption of the Maturing Bonds.
In the local sovereign debt front a total of 28 issues were active of which gainers and losers tallied to 14 issues. The 2.5% MGS 2036 (I) registered the highest activity during the week as 75 transactions generated a turnover of €7.59 million to close 0.5 per cent higher at €105.
This article, 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.