The MSE Equity Total Return Index returned to positive territory as it hiked 0.617 per cent to 8,722.206 points. A total of 18 issues were active during the week of which seven ticked higher while four declined.
The most notable positive movers were Lombard Bank plc and GlobalCapital plc, both of which traded on slim volumes. Total turnover was approximately in line with the previous week as €1.1 million worth of shares were negotiated across 130 transactions.
In the banking industry, Lombard Bank Malta plc wiped out last week’s losses, as the share price soared 13.86 per cent. A couple of deals of 4,500 shares were executed at a six-week high of €2.30.
HSBC Bank Malta plc followed suit as it erased losses made during the week, to eventually close 1.62 per cent higher at a 19-week high of €1.88.
On the other hand, its peer, Bank of Valletta plc (BOV) was a major drag on the index.
Yesterday, BOV updated the market regarding the litigation procedures instituted against the bank by the liquidators of the Deiulemar group. On March 27, the bank had appealed the precautionary warrant for €363 million issued by the Italian Tribunal against BOV. The bank has now been informed that the appeal has been rejected and thus the precautionary warrant is still in effect. The board said that it is still convinced of the strength of its defences and will be keeping the litigation in question under constant review. In the aftermath of the announcement, the equity shed 1.99 per cent of its value to close at €1.725.
FIMBank plc shares closed unchanged at $0.54 despite recording five deals of a combined 36,599 shares.
Telecommunications company, GO plc returned to negative territory, as it edged to €3.40. In total, 3,600 shares were exchanged over four deals.
International Hotel Investments plc partially recovered last week’s loss as it increased in value by 4.1 per cent to €0.635 across five deals of 13,096 shares.
Malta International Airport plc traded heavily as 51,789 shares changed hands over 17 deals. As a result, the equity oscillated around the €5.05 price level throughout the week, ultimately closing unchanged at that price.
Yesterday, Mapfre Middlesea plc published the half-yearly unaudited financial statements for the period ended June 30, 2018. The group registered a profit before tax of €9.02 million, compared to €7.02 million registered during the comparative period last year.
GlobalCapital plc appreciated 7.14 per cent to €0.30 as a result of a sole deal of just 100 shares.
A single transaction of 1,000 Medserv plc shares however, had no impact on the price of the equity as it was executed at last week’s closing price of €1.15.
RS2 Software plc closed unchanged at €1.20 as three deals of 1,385 shares were struck.
In the food and beverage sector, Simonds Farsons Cisk plc extended its impressive positive streak to five straight weeks, to reach a five-month high of €7.30.
A total of 10,988 shares were exchanged over five deals. Retail conglomerate, PG plc traded five times as 39,035 shares were transacted. However, none of these deals had a bearing on the share price as the equity traded flat at €1.33.
In the property sector, 21,000 Plaza Centres plc shares traded over four deals. The outcome was a 2.8 per cent loss in value, to close the week at €1.04.
On Wednesday, registered shareholders of Tigne Mall plc as at June 25, 2018, received the final net dividend of €0.0128 per share.
The share price remained unchanged at €0.95 this week.
Similarly, MIDI plc registered two contrasting performances early during the week, ultimately closing unchanged at €0.486.
On Thursday, Malta Properties Company plc (MPC) provided an update on the promise of sale agreement for the Sliema Old Exchange building between Toncam Properties Limited as buyers, and the sellers SLM Property Company Limited, a fully owned subsidiary of MPC.
The two parties involved have agreed to extend the promise of sale agreement until August 8. In terms of trading, MPC slipped 2.44 per cent to the lowest closing price in two months of €0.48.
Conversely, Malita Investments plc bounced back from last week’s session with a 2.35 per cent gain to €0.87.
In the corporate debt market, 43 issues were active, of which 13 headed north, and 16 declined.
The 3.5% Bank of Valletta plc € Notes 2030 S2 T1 topped the list of fallers, down to €98.51.
On the other hand, the 4% MIDI plc Secured € 2026 managed to break a four-week negative trend, by posting a gain of 1.23 per cent to €103.25.
The best performer, however, was the 5.3% Mariner Finance plc Unsecured € 2024 with a two per cent increase in value.
Performance in the local sovereign debt market were perfectly balanced this week as gainers and fallers amounted to ten each.
The 3% MGS 2019 (III) registered the weakest performance as it drifted to €103.59.
At the other end of the spectrum, the 2.2% MGS 2035 posted the largest gain, a 0.48 per cent advancement, to close at €105.28.