For the fourth week in a row, the Malta Stock Exchange settled in the red, as it eased 0.52 per cent lower to close the week at 3,273.164 points. This week activity was spread across 14 equities, of which two appreciated in value, eight posted a loss and the other four closed unchanged. Contrary to last week, turnover has decreased to €212,721 traded over a total of 92 transactions.
In the Government Bond Market turnover decreased to 5.6 million traded over 20 issues, of which 18 traded in negative territory and two posted minimal gains. In this week’s sessions short-dated bonds were the most liquid issues, with the 5.7 per cent MGS 2012 being the most traded, reaching just over €2 million followed by the 7.8 per cent MGS 2012 where trading value reached just over €1 million.
Meanwhile, in the Corporate Bond Market activity was spread over 20 issues, as total trading value decreased to €520,578. Yields were rather volatile, as six issues appreciated in value, five snapped losses and nine failed to record changes in price. The 7.5 per cent Mediterranean Investment Holdings 2015-2017 was the best performer on the week with solid gains of 6.78 per cent, while the 4.6 per cent HSBC Bank Malta 2017 emerged as the worst performer for the week by incurring a 1.20 per cent loss. Meanwhile, the 4.25 per cent FIMBank plc 2013 was the most traded issue as €79,870 was traded.
During the week the Equity Market was shadowed by a negative sentiment, as four sessions out of five recorded negative performance.
Looking at the banking sector, Bank of Valletta shares slipped by 0.38 per cent on the week, as a total of 38,271 shares changed ownership over 47 transactions to end this week’s session at €2.65. The bank started off the week by snapping a 1.5 per cent gain on Monday which it maintained in the following two sessions. On Thursday the equity lost ground by 1.85 per cent to end the session at €2.65, while trading flat yesterday. On Tuesday the bank announced that it has been given approval by the Listing Authority for the admissibility to listing on the Official List of the Malta Stock Exchange of a €125,000,000 Debt Issuance Programme. Pursuant to the programme the bank announced that it will be offering to the public the first series and tranche under the Programme of €40,000,000 4.80 per cent p.a. notes due 2018.
Meanwhile, HSBC Bank Malta plc was the only gainer from the banking sector by gaining 0.7 per cent to end the week at €2.89. A total of 7,610 shares were traded over the last three sessions of the week, of which yesterday was the winning strike for the banking equity.
On the contrary, following an absence from trading for the past weeks, Lombard Bank plc plunged by 5.99 per cent on Wednesday and traded un-changed in the following two sessions. During the week a total of 7,221 shares changed ownership over a total of three transactions to close the week at €2.67.
Following last week’s negative performance Go plc continued to post further falls, as the telecommunications operator dipped further down by 4.41 per cent on the last session of the week to close at €1.30. During the week turnover reached €11,960 over a total of seven deals which were traded across two sessions.
On the other hand, the other gainer for the week was Maltapost plc, as the postal operator gained a minimal 0.1 per cent during Wednesday’s session to close the week at €1.00. A total of four transactions worth €9,879 were traded over 10,000 shares.
Despite yesterday’s encouraging announcement that passenger movements grew by 12.7 per cent for the first six months of the year compared to those in 2010, the share price of Malta International Airport (MIA) posted a loss of 2.52 per cent yesterday. This movement occurred on a mere 978 shares to end the week at €1.55. Earlier during the week the company announced that the current chief executive officer (CEO), Julian Jaeger, was appointed on a new management board. The company continued by stating that a new CEO for Malta International Airport plc will be selected in due course.
From the Information Technology sector the worst performer for the week was 6pm Holding plc, as the IT operator edged lower by 12.5 per cent in one session to close the week at €0.28 over two trades of 2,877 shares. Furthermore, Crimsonwing plc notched its share price down to €0.345 following a loss of 2.82 per cent over a mid-week session. Meanwhile, the second most liquid issue for the week, RS2 Software plc, traded flat at €0.53 after trading at an intra-week high of €0.54 on Monday. A total of 50,000 shares worth €26,930 changed ownership over seven transactions.
The other negative performers for the week were Santumas Shareholdings plc and Medserv plc. The former has contracted sharply by 16 per cent of 2,000 shares on Monday to close at €2.10. Similarly, the latter’s share value was shaved off by 3.75 per cent over a small amount of 1,000 shares. The equity was only active on Friday, closing the week at a share price of €3.85.
This article, which was compiled by Atlas JMFS Investment Services Limited, does not intend to give investment advice and the contents therein should not be construed as such. Atlas JMFS is licensed to conduct investment services by the MFSA and is a member firm of the Malta Stock Exchange.
The directors or related parties, including the company, and their clients are likely to have an interest in securities mentioned in this article.
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