The MSE Equity Total Return Index extended its negative trend as it fell by a significant 1.4 per cent to end the week at a 15-week low of 8,556.237 points.
A total of 20 issues were active of which ten closed lower while five posted gains. Total turnover was slightly higher at €1.87 million, spread over 252 transactions.
More than a third of this turnover was generated by Bank of Valletta plc as 379,520 shares traded over 109 deals. The outcome was a minimal loss, closing at €1.795. On Wednesday, various media sources reported that HSBC Holdings plc CEO, John Flint, and chairman, Mark Tucker are considering the possibility of an exit or sale from the group’s smaller consumer operations, such as Bermuda, Malta and Uruguay.
In response, HSBC Bank Malta plc issued an announcement, stating that at this stage the company has no information to announce to the market as it is company policy not to comment on speculative stories.
In the aftermath, the equity posted successive losses, ultimately closing 7.53 per cent lower at a price of €1.72, the lowest price recorded in almost a year and a half.
Despite the positive results published last month, it seems investors are currently reacting to the announcement of the rights issue of FIMBank plc, as its share price slumped to $0.535, despite the positive results announced last month by the bank.
A total of seven deals of a combined 49,376 shares were recorded.
Within the same sector a decline in the value of Lombard Bank shares was registered as a result of a single deal of 400 shares struck late yesterday, closing at €2.36.
In the telecommunications sector, GO plc shares recovered the previous week’s losses as it advanced by 2.86 per cent to recapture the €3.60 price level.
The equity traded five times as 20,211 shares changed hands.
Yesterday, Malta International Airport plc announced its traffic results, showing a 22.5 per cent increase in traffic during March when compared to the same month of the previous year.
This announcement had no effect on the share price yet as the equity closed unchanged at €4.90 despite a traded volume of 52,955 shares.
On Thursday, International Hotel Investments plc announced that its AGM will be held on June 5.
Although the equity traded rather heavily, as 154,973 shares were exchanged, performances on Wednesday and yesterday cancelled each other out so that the share price ultimately closed unchanged at €0.62.
In the insurance sector, Mapfre Middlesea plc was also active as a total of 5,861 shares changed hands over four deals. This activity however had no effect on the weekly closing price of €2.10.
GlobalCapital plc plunged 14.29 per cent as four deals of a combined 33,786 shares were all executed mid-week, at a price of €0.30.
The worst performer of the week, however, was Loqus Holdings plc as a single transaction of 50,000 shares dragged the equity price down by a considerable 25.93 per cent to the lowest price in three-and-a-half years of €0.10.
The weekly closing price of RS2 Software plc experienced no change as the equity closed at €1.43 despite a turnover of €48,054 over 13 deals.
A total of four transactions of 4,360 Simonds Farsons Cisk plc shares resulted in a modest price drop to €6.90.
Retail conglomerate, PG plc settled at €1.31 – the lowest price level in almost nine months. The equity traded just twice as 20,000 shares were exchanged.
In the oil sector, Medserv plc from last week’s loss by climbing 3.64 per cent to regain the €1.14 level. Trading volume totalled 38,200 shares across eight deals.
A single deal of 53,000 Grand Harbour Marina plc shares pushed the share value upwards by 2.74 per cent to €0.75.
Property firm, Plaza Centres plc surrendered two weeks’ gains as it slipped 3.77 per cent back to a price of €1.02. This was the result of a couple of deals of a combined 3,000 shares.
Its peer, Malita Investments plc put together some solid gains as it registered the largest price increase for the week of 5 per cent, closing at €0.84. The equity traded 15 times as 180,100 shares were exchanged.
Similarly, MIDI plc traded somewhat heavily as 225,000 shares changed hands over three deals, all executed at a price of €0.35. Malta Properties Company plc extended its losing streak to three straight weeks, as it drifted lower to €0.462.
Trident Estates plc shares also traded eight times, as 21,570 shares were exchanged, however one deal yesterday cancelled out earlier gains during the week to close unchanged at €1.90.
Yields in the corporate debt market were up, as out of a total of 28 active issues nine closed lower while just four headed north.
Heading the list of fallers was the 5% GlobalCapital plc Unsecured € 2021 which depreciated by another 2.76 per cent this week to return to a price of €97.
One of the few positives was the 4% International Hotel Investments plc Secured € 2026 which managed to recover three weeks’ losses of 1.47 per cent to recapture the €103 price level.
Yields in the sovereign debt market were down as 13 issues posted gains, five contracted and one traded flat. The best performer was the 4.5% MGS 2028 (II) as it gained 0.75 per cent to close at €133.
In spite of the positive overall performance the three longest-dated issues all posted falls, particularly the 2.1% MGS 2039 (I) which lost 0.74 per cent in value.