The MSE Equity Total Return Index kicked off the new year with a loss of 0.47 per cent, closing the week at 8,956.752 points. Over the two-day week, 12 equities were active, two of which posted gains while three dragged the index lower. A turnover of just €547,000 was generated across 88 transactions, much lower than the previous week’s figure of €1.9 million.
The best performer in the first week of trading in 2019 was PG plc.
The equity which lost five per cent in value over 2018, recovered 3.01 per cent, to close at €1.37, on the first two sessions of the new year, on three trades of 8,675 shares.
The banking industry was the main laggard for last week’s drop as two equities in the sector traded lower. In line with last year’s trend, Bank of Valletta plc traded heavily as 167,579 shares changed hands over 42 deals. The outcome was a 0.75 per cent loss in value to €1.32.
A turnover of just €547,000 was generated across 88 transactions
In the same sector, FIMBank plc, lost a sizeable 5.33 per cent last week, as a single transaction of 7,694 shares dragged the price down to $0.71. This erased the bulk of the gains made throughout the whole of last year, as it registered a yearly gain of 8.7 per cent, closing at $0.75. This annual gain was in line with the bank’s turnaround in recent years, following drastic changes in its operations and management.
In the telecommunications sector, the price of GO plc (GO) fell by €3.90 on a single trade of 1,100.
International Hotel Investments plc traded six times as 8,294 shares changed hands last week, closing unchanged at €0.62.
Following last year’s positive performance in the share price of Malta International Airport plc, the equity closed unchanged at €5.80, on a turnover of €70,151, over 10 transactions.
MaltaPost plc traded flat on slim volume executed last Thursday at €1.58 as 500 shares changed hands.
Conversely, Mapfre Middlesea plc which posted a significant gain of 11.67 per cent in 2018, continued to build on the positive trend, as a couple of small transactions pushed the equity price upwards by another 2.51per cent to €2.04.
Despite generating a turnover of €146,540 over 10 deals, RS2 Software plc share price closed the first week of 2019 at an unchanged price of €1.40.
A single transaction of just 62 SanTumas Shareholdings plc shares had no impact on the equity’s closing price of €1.42.
Loqus Holdings plc last week traded flat over two trades of 5,847 shares closing at €0.075.
Likewise, Malita Investments plc closed unchanged at €0.88 despite nine trades of a combined 90,436 shares.
The Malta Government Stocks market returned to positive territory last week, as 13 of the 18 active issues closed higher, while four headed south. Gains were recorded by the longer dated issues, as the 5.1% MGS 2029(I) headed the list of gainers with a 1.28 per cent increase in price, to close at €136.88.
The drop in the shorter dated bonds was insignificant.
Performances in the corporate debt market were predominantly positive this week, as from the 28 active bonds, 13 traded higher and only four lost ground. The best performer was the 4% MIDI plc Secured Bonds € 2026 which gained 1.35 per cent to €105. At the other end of the spectrum, the 3.75% Bortex Group Finance plc Unsecured € 2027 shed 0.74 per cent off its value to close at €103.00.
This article, which was compiled by Jesmond Mizzi Financial Advisors Ltd, do 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 more 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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