The MSE Equity Total Return Index oscillated between positive and negative over the week but ultimately closed at 8,598.897 points, a 0.11 per cent weekly decline. In the equity market, 19 companies were active, of which six gained ground, while nine headed south. Turnover declined significantly from €2.14 million to €1.42 million over 229 deals.
Bank of Valletta plc was one of the only two equities active in the banking sector, with trading value totalling €616,304 across 83 transactions. Despite this activity, the equity closed unchanged at €1.81.
HSBC Bank Malta plc shares bounced back from the previous week’s loss to recapture €1.79. The increase in value of 1.7 per cent was the outcome of 20 transactions, in which 80,733 shares were traded.
GO plc announced that its Board is scheduled to meet on March 6 to consider and approve the company’s audited financial statements. The equity posted 1.14 per cent gain, closing at €3.56 as a combined 16,791 shares were exchanged over 13 trades.
In food and beverages, Simonds Farsons Cisk plc reversed the marginal gains registered the previous week as it retreated by 3.85 per cent to close at €7.50. The equity was traded 13 times with volumes of 10,792 shares.
With regards to its spin-off company, Trident Estates plc, shares were admitted to listing on the Official List of the Malta Stock Exchange on Tuesday this week and commenced trading on Wednesday. The first week of trading was very encouraging, with strong gains of 23.4 per cent over its opening price of €1.24 to close at €1.53. A turnover of 132,789 shares was generated over 29 deals.
A single deal on slim volume of International Hotel Investments plc shares pushed the price up by 3.23 per cent to reach €0.64. Malta International Airport plc shares dropped by 2.86 per cent to the €4.76 level, as 12,132 shares were exchanged over 11 deals. MaltaPost plc was also active, generating a turnover of 5,701 shares over three transactions. As a result, the equity continued on the previous week’s negative trend, as it drifted 4.02 per cent further lower to €1.91.
For insurance, negative sentiment in Mapfre Middlesea plc was predominant as it traded in negative territory for the third week. The equity dropped by 0.56 per cent to end the week at €1.78 after 12,124 shares were traded in eight deals.
RS2 Software plc continued its negative start to the year as it extended its losing streak to five successive weeks. The share price declined by 2.1 per cent to €1.40 as a result of 16 transactions in which 48,670 shares changed hands.
Retailer PG plc traded at a 27-week low of €1.34 but it ultimately closed 2.88% lower at €1.35. Trading volumes amounted to 19,100 shares spread across eight deals.
Medserv plc surrendered some of the impressive gains registered last week, down by 3.23 per cent to €1.20. This was the outcome of three transactions in which 11,400 shares changed hands. Santumas Shareholdings plc closed the week 0.67 per cent higher at €1.51. This was the outcome of five deals in which 18,505 shares changed hands.
In property, MIDI plc advanced by 2.35 per cent to €0.348 as 115,700 shares changed hands in seven deals. The share price of Malita plc shifted in the opposite direction as a single transaction worth €9,828 caused the equity to edge 0.59 per cent lower, to €0.84.
Prospects MTF was also active with three issues, none of which registered a price movement except for the 5.25 per cent Klikk Finance plc € Unsecured 2027, which was down by 5.66 per cent after a lengthy period of inactivity.
Yields in the local sovereign debt market were up this week, as all 23 active issues drifted lower with the exception of two non-movers. The 2.5 per cent MGS 2036 broke a three-week winning streak to log the week’s worst performance, a loss in value of 1.24 per cent.
The corporate debt posted rather mixed performances, as out of 32 active issues, 15 traded higher, while 11 bonds lost ground. The most notable price movement was registered by the five per cent GlobalCapital plc Unsecured € 2021, which posted a loss of 1.91 per cent this week after trading flat for three weeks in a row.
The 4.25 per cent Corinthia Finance plc Unsecured € 2026 put on a solid 1.43 per cent to close at a price of €103.98. The 5.75 per cent International Hotel Investments plc Unsecured € 2025 continued to trade in positive territory for the third successive week, as it pushed forward by a further 0.82 per cent to close at €108.79.
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 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: 21224410, or e-mail info@jesmondmizzi.com.
http://www.jesmondmizzi.com