A good start for local listed shares

The Malta Stock Exchange (MSE) Index kicked-off 2013 with a remarkable gain of 1.2 per cent over the appreciations recorded among seven equities. The index was only active in the last two days of the week due to the festive season in which it gained 0.8 per cent and 0.4 per cent respectively. The banking equities emerged as the main contributors with HSBC Bank Malta plc displaying impetus followed by Bank of Valletta plc, while Crimsonwing plc maintained its bullish trend by recording a staggering gain of 10 per cent. Turnover in the week increased to Eur276,629, as a total of 191,114 shares were executed across 84 transactions.

Meanwhile, turnover in Corporate Bonds amounted to Eur125,003 traded over nine issues. The newly listed 7.5% Mediterranean Bank issue was the most liquid as 33,000 nominal were traded across five deals. In the Government Stock Market trading value totalled Eur1.2m. Activity was dealt over 18 issues with longer-dated issues emerging as the most active, namely the latest 4.8% MGS 2028 as total trading value reached Eur242,387.

From the financial sector, HSBC Bank Malta plc advanced by 3.3 per cent or Eur0.09 over both sessions to close the week at Eur2.79. The equity was active over 11,400 shares which were dealt across 14 trades. Likewise, Bank of Valletta plc snapped back last week’s minimal loss by posting a 0.4 per cent appreciation. The banking equity rose by 0.6 per cent on Thursday, whilst it shaved a scant 0.2 per cent in the subsequent session to end the week at the Eur2.425 price level. Activity was dealt over 35 deals worth Eur157,790.

From the same sector, following two weeks of unchanged positions, Middlesea Insurance plc returned to winning grounds with a rise of 1.4 per cent, thus moving back towards the Eur0.75 price level. The other active bank was Lombard Bank plc which closed the week flat at Eur1.86 over two sessions in which 3,000 shares changed hands. Meanwhile, on Thursday the company announced that the board of directors is scheduled to meet on March, 14, 2013, to approve the financial statements for the year ending December 31, 2012. Furthermore, the board will also consider the declaration of a final dividend to be proposed in the Annual General Meeting.

Meanwhile, GO plc sustained its upward trend for the eight week in a row by posting a further gain of 0.4 per cent. The telecommunications equity was active in both sessions, in which it closed unchanged in the first session, while it marked the said rise on Friday. A total of 19,300 in volume changed ownership to close the week at Eur1.195, after trading at an intra-two day high of Eur1.20.

Similarly, from the I.T. sector both Crimsonwing plc and RS2 Software plc were bolstered by investors’ sentiment by posting further gains. The former soared by 10.2 per cent on Thursday, thus maintaining its upbeat tone after having gained 96 per cent in 2012. The equity was active over three trades of 36,000 shares closing the week at Eur0.54 and thus traded at above the IPO price. Meanwhile, the latter advanced by 1.4 per cent on Thursday as 14,557 shares changed hands to touch the Eur0.75 level, while 6pm Holdings plc closed flat at £0.31.

The other gainer for the week was Malita plc which rose by two per cent on Friday to end the week at Eur0.51.

Finally, the other non-movers for the week were Simonds Farsons Cisk plc and Maltapost plc which closed at Eur2.50 and Eur0.85 respectively.