MSE trading report - week ended January 30
MSE index down 2.08% in January
This week the Malta Stock Exchange index closed at 3,141.454, the lowest level in four years, at a loss of 1.74 per cent over last week and 2.08 per cent in January. During the week, five equities were negotiated, with Middlesea Insurance plc the only one closing in positive territory while four other equities closed in negative territory.
During this week 236 deals were registered on the stock exchange for a turnover of over €6.4 million. In the equity market 119 transactions were carried out for a total value of €909,767. In the corporate bond market 55 transactions for a total value of €421,933 were executed, while in the government bond market 44 transactions were executed for a value of over €1.6 million. Seventeen transactions were carried out in the Treasury bills market for a value of over €3.4 million.
On Monday, the MIDI plc bonds traded for the first time, with the euro bonds gaining 100 basis points while £5,000 nominal changed hands in the Sterling bonds also gaining 75 basis points. Trading during the week was more active in the euro denominated bond with volume reaching 209,100. Malta Government Bonds continues to fall, although some issues made a recovery at the end of the week.
Following last week's 11 per cent drop, this week Bank of Valletta plc dropped by a further 1.14 per cent to €2.60, the lowest level in 58 months as 91 deals were executed for a total volume of 124,700 shares and a total value of €330,609. On Monday, the share price of Bank of Valletta plc appreciated by 2.66 per cent to €2.70 as 23,348 shares were negotiated across 22 deals, while no price change was registered on Tuesday. On Wednesday, the share price dropped by 0.37 per cent to €2.69 as 23,893 shares were negotiated across 17 deals making it the most active equity on the exchange for the day. On Thursday, the share price dropped by another 3.35 per cent to €2.60 as 62,084 shares. On Friday, it remained stable at €2.60 as 2,059 shares were negotiated across seven deals.
During the week, HSBC Bank Malta plc lost 4.07 per cent and closed at €2.71 as 26,520 shares changed hands across 13 deals for a total value of €73,007. On Monday, the share price of HSBC Bank Malta plc remained stable at €2.825. A single deal of 1,770 shares led to a drop of 0.18 per cent to €2.82 in the share price of the bank on Tuesday. On Thursday, the equity had a negative performance once again as its share price dropped by 1.77 per cent. Yesterday it was the most active equity of the day as 14,750 shares changed hands across six deals. This led to a drop of 2.17 per cent in the share price which closed at €2.71.
On its first day of trading for this year, Lombard Bank Malta plc lost most ground as its share price dropped by 5.67 per cent and closed at €2.83. This on a single deal of just 500 shares for the value of €1,415.
Go plc was negotiated only on Wednesday when two deals for a total volume of 1,000 shares led to a drop of 0.54 per cent in the share price which closed at €1.85.
As mentioned above, Middlesea Insurance plc was the best performer of the week. Twelve deals for a total volume of 196,000 shares were executed for a total value of €502,880. On Wednesday, it traded for the first time this year and it lost most ground during the day as its share price dropped by 1.96 per cent to €2.50, the lowest level in 51 months, as 1,000 shares changed hands across three deals. However, on Thursday it was the only positive performer of the day as its share price appreciated by 3.20 per cent to €2.58 when 195,000 shares were negotiated across nine deals.
Although MaltaPost plc did not trade during this week, yesterday the company announced the publication of its annual report and that the annual general meeting of the company will take place on February 17, when shareholders will be asked to approve the payment of a net dividend of €0.04 per share.
This article which was compiled by Jesmond Mizzi Financial Services Limited (JMFS) does not intend to give investment advice and the contents therein should not be construed as such. JMFS is licensed to conduct investment services by the MFSA. 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 JMFS at 67/3, South Street, Valletta or on Tel: 2122 4410 or e-mail jmizzi@jmfs.net.