MSE Index up 1.6 per cent in June
The Malta Stock Exchange (MSE) Index managed to lock a 1.6 per cent advancement on a monthly basis, despitefailing to sustain its recent exponential climb as it halted its three week positive run as this week the equity index declined by a minimal 0.2 per cent. The market experienced relatively good buying interest in three sessions but investors in some equities lacked conviction towards the final trading sessions which resulted in the index incurred a loss of 0.7 per cent. As opposed to the previous week, banks, mainly Lombard Bank plc, re-positioned themselves into the green line track, with the exception of FIMBank plc which decline for the second week in a row. Likewise, International Hotels Investments plc (IHI) shaved-off a notable percentage from its recent year-to-date highs, while RS2 Software plc returned to winning grounds following last week’s depreciation.
In the week the performance of equities was balanced, as from the 14 active stocks, losers and gainers tallied to six while non-moverstotalledto two. Looking at the numbers, total trading value for the week amounted to just over EUR0.9m which were dealt over a total of 912,365 shares.
Meanwhile from the local sovereign debt market, most investors opted for riskier grounds as the majority of yields pointed towards higher levels. Total turnover for the week was noted on values of just over EUR22.7m, with the long dated 4.5% MGS 2028(1), being the most active as nominal volumes reached just over 3.9m. From the corporate front yields opted for mixed positions as from the 19 active, 11 gathered support, seven closed unchanged, while one edged lower. The 7% FIMBank plc USD 2012-2019 headed the list of losers with a decline of just below two per cent.
From the equity front, three out of the four active banks managed to rebound from last week’s declines. Lombard Bank plc appreciated by 3.5 per cent in the mid-week session, in which a total of 25,000 shares changed hands, thus pushing the share price towards the EUR1.80 level.
On the same encouraging note, Bank of Valletta plc partially recouped last week’s 0.4 per cent decline, as it appreciated by 0.2 per cent on Wednesday to close the week at EUR2.275. Likewise, HSBC Bank Malta plc gathered a 0.4 per cent gain over two sessions, despite heading to an intra-week low of EUR2.695. The banking equity was active in four sessions over dwindling volumes of 21,300 to close the week at the EUR2.70 price position, thus marking a monthly gain of 2.7 per cent.
On the contrary, investors turned their backs on FIMBank plc shares, as the equity slid by a further 2.1 per cent, thus returning towards the $1.00 price position. Meanwhile, from the insurance sector, Middlesea Insurance plc lurched lower by 1.1 per cent over notable volumes of 82,126 to end the week at EUR0.811.
On the same sour note, IHI shares closed lower by 2.2 per cent following the remarkable gain of 5.8 per cent captured in the previous week. The hotel operator was active in two sessions, in which it closed flat in one, while it incurred the said loss on 931 shares in the last trading minutes of the week to close at the EUR0.90 price level.
In line with its peer, Island Hotel Group Holdings plc extended its streak of negativity with a further decline of 1.7 per cent, despite gathering a notable 3.1 per cent appreciation on Friday. The equity closed the week at EUR0.536, thus heading the list of losers on a year-to-date basis with a 32 per cent loss.
Similarly, the other losers for the week were Plaza Centres plc and Medserv plc. The former declined by 0.9 per cent over 70,000 shares to close at EUR0.565, while the latter returned to the trading desk with a 2.6 per cent loss over a mere of 115 shares to end the week at EUR3.80.
Meanwhile, on a positive note Malta International Airport plc registered its third week of consecutive gains to re-move towards its all time highs of EUR2.05. Accounting for the said appreciation the airport operator locked a 2.5 per cent appreciation on a monthly basis.
Likewise, Simonds Farsons Cisk plc re-moved closely to its all time high, as the beverage equity advanced by 0.4 per cent to close the week at EUR2.76, having also traded at a high of EUR2.95.
The other gainer for the week was RS2 Software plc which returned to winning grounds following last week’s downward correction. The equity recorded a weekly gain of 2.3 per cent; while on a monthly basis the I.T. operator surged by 10.3 per cent, thus touching the EUR1.279 price level.
Finally, the non-movers for the week were GO plc and 6pm Holdings plc which closed flat at EUR1.53 and £0.61 respectively.