The Malta Stock Exchange index retreated from last week’s gains by recording a loss of 0.7 per cent to end the week at 2,927.347 points, thus increasing the year-to-date loss to 5.4 per cent. The local exchange was closed for trading on Monday in line with European Markets. The index oscillated from positive to negative with the mid-week and Friday’s sessions being the most vulnerable as the index succumbed to selling pressure.
The draggers for the week were primarily Bank of Valletta plc and HSBC Bank Malta plc, while the only gainer was Lombard Bank plc which managed to snap a marginal gain. Furthermore, the week was characterised by nine equities closing flat, five traded at lower levels and one appreciated in value. Turnover in the week amounted to €409,727 traded over 278,563 shares which were executed across 88 transactions.
In the local Government Stocks market, despite lower volumes, investors were prepared to pay more, as from the 18 active stocks 14 closed higher, three edged lower and one closed unchanged. Turnover in the week amounted to just over €17.6 million in which the medium dated 4.3% MGS 2016 was the most active as total trading volume reached the €6.1 million levels.
In the Corporate Bonds market running yields were mixed as, from the 23 active issues, four gained ground, five traded in negative territory and 14 closed unchanged. The 6.25% International Hotel Investments 2017-2020 headed the list of losers with a loss of 1.5 per cent.
In the equity market, Bank of Valletta plc re-positioned itself in negative ground as it wiped out all gains from the previous week to close at €2.11. The equity was active throughout the week as it depreciated in two sessions, gained ground in one and closed flat in the other. The equity had the lion’s share as total trading value reached €162,473 traded over 44 trades on 76,370 shares. On Wednesday the company announced its allocations in respect of the latest Notes Issue were it stated that it received a total of 2,865 applications for a total value of €43.3m. It continued by stating that applications up to and including €25,000 shall receive full allocation, whereas applications in excess of €25,000 shall receive the first €25,000 in full and 36.19 per cent of the remaining amount.
Likewise, HSBC Bank Malta plc failed to sustain last week’s gain as it recorded a significant loss of 1.6 per cent or €0.04 over a total of 17,416 shares. The equity was active in three sessions were it gained ground on Tuesday, while it recorded a 1.9 per cent loss in the following session and closed flat on Thursday to end the week at €2.50.
Conversely, Lombard Bank plc emerged as the sole gainer for the week with a marginal gain of 0.6 per cent on Friday to close at €2.465. Meanwhile, the other active financial for the week was Middlesea Insurance plc which closed flat at the €0.70 price level, as 3,085 shares were traded on seven deals.
From the telecommunications sector, following last week’s sharp loss GO plc shares ended the week flat at €0.77 after trading at an intra-week low of €0.75. A total of 10,450 changed hands over five transactions. Similarly, from the hoteliers sector both International Hotels Investments plc and Island Hotels Group Holdings plc maintained their previous closing prices. The former traded flat at €0.74 over 2,902 shares which were dealt over one session, while the latter traded at €0.85 over a single trade of 1,000 shares.
Meanwhile, from the beverage sector Simonds Farsons Cisk plc announced that the Board of Directors shall be meeting on the April 25 to consider and approve the financial results for the year ended January 31, 2012, and consider the declaration of a final dividend to be recommended to the Annual General Meeting. In the week the equity was active in two sessions as it traded flat at €1.77 over 42,550 shares.
On a negative side, Grand Harbour Marina plc shares depreciated by 0.4 per cent over a single trade of 100 shares to end the week at €1.89. Likewise, following weeks of inactivity Santumas Shareholdings plc plummeted by 14.3 per cent on Friday over low volumes of 550 shares to close at the €1.80 prices level. The other negative performer for the week was Loqus Holdings plc which declined by a sharp 8.1 per cent over a mere of 100 shares which were dealt across one single trade.
Meanwhile, the other non-movers for the week were RS2 Software plc, Plaza Centres plc, Maltapost plc and Medserv plc which all maintained their previous closing prices.
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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