Index turns positive as 10 equities garner support

Following two weeks of negative trading the Malta Stock Exchange (MSE) Index, returned to winning grounds with a notable rise of 1.4 per cent to close at 3,211.984 points. In the week, the listed banks displayed impetus with Bank of Valletta plc emerging as the prime gainer within the sector followed by HSBC Bank Malta and Lombard Bank plc.

During the week, gainers prevailed as from the 16 active equities 10 advanced in value, while six closed unchanged. Total turnover for the week declined to Eur764,633 traded over 452,689 shares which were dealt across a total of 130 transactions.

Meanwhile, turnover in Corporate Bonds totalled Eur1.47million traded across 25 bonds while in the Government Stock Market trading executed totalled just under Eur1.5 million. In the former Eur1million was traded in the 7.5% Mediterranean Bank EUR 2019 bond, while in the latter the 6.65% MGS 2016 and the 4.3% MGS 2022(I) were the most active.

From the banking sector, Bank of Valletta plc emerged as the main gainers for the week despite sliding minimally lower on Wednesday. The equity cancelled last week’s decline by gathering a gain of just below three per cent to close the week at Eur2.419 on 120,965 shares. On Thursday, the company announced that during the 39th Annual General Meeting which was held on the previous day, all resolutions on the agenda were approved, among which the gross dividend of Eur0.13 per share. Furthermore, the board of directors was also elected with two new members, Dr.Ann Fenech and Mr. Franco Xuereb.

Likewise, HSBC Bank Malta plc turned positive with an appreciation of 1.1 per cent, thus partially wiping-off last week’s 1.8 per cent loss. A total of 63,830 shares changed hands to close the week at Eur2.70. Meanwhile, on Tuesday the company announced that the board of Directors is scheduled to meet on March 13, 2012, to approve the financial statements for the year ending December 31, 2012. In addition, the board will also consider the declaration of a final dividend to be recommended to the Bank’s Annual General Meeting.

In line with its peers, the other active bank, Lombard Bank plc closed the week higher at Eur1.86 on 27,350 shares, and thus gaining 1 per cent this week and posting a 4.1 per cent over two weeks.

Meanwhile, from the hoteliers sector, International Hotels Investments plc closed the week flat at Eur0.86. The equity was active in two sessions in which 4,500 shares were executed.

Other non-movers for the week were Middlesea Insurance plc and Simonds Farsons Cisk plc. The former closed flat at Eur0.74 over two sessions, while the beverage equity traded unchanged at Eur2.50 over 1,000 shares.

From the I.T. industry all three listed equities were active, in which Crimsonwing plc extended its bullish trend with a further gain of 6.5 per cent on turnover of 36,880 shares, thus posting just over 16 per cent over the past three weeks. Similarly, RS2 Software plc advanced by 2.1 per cent over 37,160 shares to close at Eur0.74. Meanwhile, 6pm Holdings plc closed flat at Eur0.31 after trading at an intra-week low of Eur0.30.

The other gainers for the week were Midi plc and Grand Harbour Marina plc. The former advanced by 1.9 per cent over a mere of 620 shares to close Eur0.275, while the latter rose by 0.6 per cent over a single trade in which 1,900 shares were executed.  

Likewise, GO plc extended their ascending momentum for the sixth week in a row with a further gain of 5.4 per cent. A total of 77,810 shares exchanged hands over 28 deals to close the week at Eur1.18.

On a similar note, both Plaza Centres plc and Santumas Shareholding plc rose by 11.1 per cent and 5.9 per cent respectively on minimal trading volumes.

The other non-movers for the week were Malta International Airport plc and Maltapost plc which closed flat at Eur1.80 and Eur0.85 respectively. Trading in the former was just over 54,000 shares while trading in the latter was minimal at 3,111 shares.

We wish all our readers a Happy Christmas.