The Malta Stock Exchange index re-affirmed its negative stance by recording a further loss of 0.8 per cent to end the week at 3,080.609 points. Throughout the week, the index oscillated between positive and negative ground. Nevertheless, the sharp losses by highly capitalised equities drove the index towards a lurching performance.
This week banks were in the limelight with Bank of Valletta plc and HSBC Bank Malta plc being black shadowed by a lack of investors’ confidence, while Malta International Airport plc extended its year-to-date gains.
The week was characterised by the trading of eight equities, in which declining stocks outnumbered advancers as five depreciated in value, two gained ground while one closed unchanged. Turnover in the week almost doubled to €613,082, which was traded over 449,394 shares, which were executed across 155 transactions.
Meanwhile, in the Government Stocks Market participants showed lack of conviction, as from the 22 active stocks 14 depreciated, while eight posted minimal gains. Turnover in the week amounted to just over €5.4 million of which €2.2 million were traded in the short-dated 3.6% MGS 2013 issue.
In the Corporate Bonds Market, turnover decreased slightly to €325,870 traded over 26 issues. In the week, yields were rather divergent as 10 closed higher, three edged lower, while 13 closed unchanged. The 6.25% International Hotels Investments 2015-2019 headed the list of gainers as it appreciated by 1.5 per cent.
In the equity market, Bank of Valletta plc shares plummeted by 3.01 per cent or €0.07 to close the week at €2.22. The bank experienced a relatively negative week as it traded in the red in three out of five sessions, with Monday and yesterday emerging as the worst sessions as the equity depreciated by 1.3 per cent in each session. Turnover amounted to 105,777 shares which were traded over 85 deals.
Likewise, HSBC Bank Malta plc extended its negative momentum by posting a loss of 0.8 per cent over a total of 19,832 shares to close the week at €2.55. The financial equity was active in four sessions throughout the week, were it traded lower in two, posted a scant gain in one and closed flat in the other.
Similarly following last week’s unchanged session, Lombard Bank plc slipped by €0.05 or 1.9 per cent on Wednesday to close the week at the €2.55 price levels. Total trading volume amounted to 25,450 shares dealt over two sessions.
From the hoteliers sector, International Hotels Investments plc was also a dragger on the index, as the equity slipped by 0.6 per cent on Wednesday to close the week at €0.84.
Meanwhile, Island Hotels Group Holdings plc traded flat at €0.85 as 1,200 shares were dealt over one deal during Thursday’s session.
Additionally, Crimsonwing plc the only IT firm active this week, plunged by 12 per cent in the mid-week session to close at €0.22 over 10,500 shares.
On a positive note, Malta International Airport plc extended its year to date gains to 3.6 per cent, as the airport operator’s equity witnessed renewed buying interest. In fact, the equity advanced by an additional 1.7 per cent on Thursday to close the week at €1.75. The equity was active over two sessions in which 6,500 shares changed ownership across four transactions.
Yesterday the company announced that the board of directors is scheduled to meet on March 22, 2012, to consider and approve the company’s financial statements for the year ended December 31, 2011. In addition, the directors shall also consider whether to declare and make a recommendation to the shareholders for the payment of a dividend.
From the telecommunications sector, Go plc managed to pare the losses incurred in the previous week by recording a gain of 6.2 per cent. The equity was active throughout the whole week were it appreciated in value in two sessions while it closed flat in the other three to re-position itself in the €0.95 price level. Trading volume reached 255,132, of which 218,200 shares were traded in the last session of the week.
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.
For further information contact Atlas JMFS at 67, Level 3, South Street, Valletta, or on Tel: 2122 4410, or e-mail info@atlasjmfs.com.