RS2 Software at a new all-time high
Positive sentiment prevailed for the second consecutive week as the Malta Stock Exchange (MSE) Index advanced by a minimal 0.1 per cent to close the week at 3,433.669 points. Despite heading lower by 0.2 per cent on Thursday, the index managed to boot-out the said loss, following modest gains by leading equities. In fact, HSBC Bank Malta plc (HSBC) traded notably higher following last week’s flat position, followed by RS2 Software plc which maintained its bullish trend by touching a new all time high, while Malta International Airport plc (MIA) shaved-off a remarkable percentage from its all time high level. Glancing through this week’s figures, turnover for the week reached €591,094 which was traded over 515,281 and executed across 108 trades.
From the local sovereign debt market, investors continued to re-instate buying interest in line with German Bunds following accommodative stimulus comments by the Federal Reserve Chairman. In fact, from the 18 active stocks, 17 experienced lower yields. As opposed to recent weeks turnover turned lower to just over two million. Meanwhile, from the local corporate debt market, yields were mixed as from the 16 active issues, four gained bonds traded at a higher price, two edged lower while 10 closed unchanged. The new listed 7.5% Mediterranean Bank plc GBP 2019 fungible issue headed the list of gainers with a remarkable three per cent gain.
From the equity front, HSBC shares opted for an upright position with a 1.5 per cent appreciation to close the week at €2.74 after hitting a weekly high level of €2.75. A total of 20,277 shares changed ownership over 17 transactions. Meanwhile, from the same line of business, Bank of Valletta plc closed unchanged at €2.27 over 63,543 shares, followed by Lombard Bank plc which hooked itself to the €1.80 price level after dwindling to an intra-week low of €1.75.
On a sour note, FIMBank plc upheld its recent downward trend with a further loss of one per cent, thus re-moving towards the $0.99 price position, while Middlesea Insurance plc traded sideways at €0.85 following last week’s hefty rise.
On the contrary, more capital inflows were tracked within RS2 Software plc shares, as the I.T. operator gathered a further 1.5 per cent over 49,462 shares to close at a new all time high of €1.32. The said appreciation was triggered following the announcement that the company has secured a license agreement for its proprietary software with one of the leading financial institutions in Europe. The contract has a value of £8.5m.
Similarly, from the hoteliers sector, Island Hotels Group Holdings plc shares maintained their bullish trend with a further gain of just below 13 per cent. The equity was active in three sessions over unusual high volumes of 206,700 shares to end the week at €0.70. Meanwhile, from the same industry, International Hotels Investments plc retreated further by 1.1 per cent on Thursday to close the week at €0.89.
Likewise, both GO plc and Malta International Airport plc ended the week in the red. The telecommunications equity declined by a further 0.6 per cent to close at the €1.52 price position, while MIA chopped-off two per cent from its all time high level of €2.10 to close the week at €2.06. In the week, GO plc announced that it has successfully won the exclusive Barclays Premier league rights until 2016, while on Wednesday the airport operator announced that for the third consecutive year it will be refunding in full any landing fees to all scheduled airlines for the coming winter season.
On the same note, Simonds Farsons Cisk plc declined by 0.3 per cent over a mere 467 shares to close at €2.761, while Midi plc captured a loss of 1.6 per cent yesterday to end the week at €0.245.
Finally, the other non-mover for the week was Malita Investments plc which closed flat at €0.50.