Last week, the Malta Stock Exchange (MSE) index registered a 0.757 per cent increase after having witnessed four consecutive weekly declines, to close the four-day trading week at 4,664.233 points
Turnover in the equity market amounted to €970,394 spread across 17 equities, of which four fell, six advanced and seven closed unchanged.
HSBC Bank Malta plc shares headed the list of gainers, rallying by €0.09, or 4.5 per cent, after last week’s highest turnover of 144,614 shares. It closed at €2.08 to register a year-to-date increase of 9.5 per cent.
Bank of Valletta plc (BOV) shares partially erased the previous week’s gain when it declined by 0.4 per cent to close at €2.18, after 35 deals of 92,242 shares were struck. BOV is still recording a year-to-date rise of 4.3 per cent.
Meanwhile, Lombard Bank Malta plc shares traded flat at €2.30 after one deal of 5,428 shares. It registered no change from the closing price of December 31, 2016.
Malta International Airport plc (MIA) shares stumbled by €0.059, or 1.4 per cent, as 17 deals of 42,820 shares were struck, closing at a three-week low of €4.09. Last Thursday, the local airport operator announced that as the summer months approach, traffic continued on its upward trend over the past months, with May registering an increase of 14.4 per cent in passenger numbers over the same period last year.
MIA hosted a total of 548,354 travellers in May, with over 68,000 more travellers welcomed last month when compared to 2016. This increase in passenger numbers is equivalent to an extra 12 commercial aircraft carrying a full load of 180 passengers every day last month.
On a positive note, Medserv plc shares partially recovered the previous week’s loss, recouping by 0.8 per cent after a sole transaction of a mere 810 shares, to close at €1.20.
PG plc shares appreciated by 2.7 per cent as 4,450 shares changed ownership after four deals, closing €0.034 higher at €1.284. Similarly, RS2 Software plc shares edged 1.3 per cent higher as 11 deals of 37,635 shares were negotiated, to close at €1.55.
Tigné Mall plc shares rose by €0.04, or 4.1 per cent, after a sole transaction of 1,000 shares, closing at a one-month high of €1.02. Also on a positive note, Malita Investments plc shares climbed by 2.8 per cent as 39,700 shares changed ownership in six deals, to close at €0.74.
Conversely, Malta Properties Company plc shares edged 1.6 per cent lower after six deals of 5,451 shares, closing at €0.502.
Plaza Centres plc shares closed the week unchanged at €1.04. The equity was traded in four deals of 26,000 shares. Likewise, Midi plc shares traded unchanged at €0.315 after two deals of 6,000 shares.
GO plc shares slipped by a minimal 0.3 per cent as 24,700 shares changed hands in 15 deals, to close at €3.49. The telecommunications provider has appreciated by 6.7 per cent year-to-date.
Mapfre Middlesea plc shares were negotiated in two transactions of 1,058 shares and closed the week unchanged at €1.98. Similarly, Maltapost plc registered no change in its share price of €2.05 as a sole deal of 1,000 shares was struck.
Simonds Farsons Cisk plc (SFC) shares closed the week unchanged at €7.55, despite having reached an all-time high of €7.60. The equity was active in five deals of 8,016 shares.
Last week, the company issued an explanatory circular to shareholders in respect of the proposed spin-off of Trident Estate Ltd into a separate company to be listed on the local stock exchange.
The week’s other non-movers were International Hotel Investments plc shares, which closed unchanged at €0.62. The hoteliers’ equity was negotiated in three transactions of 3,768 shares.
In the corporate bond market, 24 issues were active, of which six declined, 11 advanced and seven closed unchanged. Turnover totalled to €1.2 million, just short of the previous week’s turnover. The six per cent Pendergardens Developments plc secured € 2022 series II registered the best performance, increasing by 3.2 per cent to close at €114.50, while the five per cent Global Capital plc unsecured € 2021 headed the list of fallers, declining by one per cent to close at €98.50.
In the sovereign debt market, activity was spread across 26 issues, of which 19 rallied and six fell – of which five were short-dated.
Last Thursday, the European Central Bank left interest rates unchanged, having increased its forecast for economic growth in the eurozone. ECB president Mario Draghi also hinted that there was no need to cut rates further. He also said that the ECB would continue with its stimulus programme of buying bonds and will be in the market for a long time.
Locally, The 2.5 per cent MGS 2036 (I) was the only long-dated Malta Government Stock (MGS) to register a decline, slipping by a marginal 0.02 per cent to close at €104.98. Meanwhile, the five per cent MGS 2021 (I) was the most liquid issue, witnessing a turnover of €838,626 and closing 0.04 per cent higher at €120.76.
This article which was compiled by Jesmond Mizzi Financial Advisors Ltd, 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 Ltd at 67, Level 3, South Street, Valletta, or on Tel. 2122 4410, or e-mail info@jesmondmizzi.com.
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