Seven-week positive streak ends

The Malta Stock Exchange index experienced the first negative week in 2017 after seven weeks of gains, registering a 0.23 per cent decline, to close the week at 4,679.298 points.

This performance has mirrored the performance of the sovereign debt market. On the contrary, the corporate debt market registered overall gains.

Trading in the equity market was spread across 16 equities of which eight closed in the red while gainer and non-movers tallied at four a piece. Total turnover was slightly higher than last week at €1.6 million.

Bank of Valletta plc was the only banking equity which registered a gain of nearly one per cent pushing the closing price to the €2.17 level. Turnover in this equity accounted for almost 36 per cent of total weekly turnover in the market and was spread across 112 deals.

Telecommunications company GO plc also had a positive week as its share price appreciated by 1.5 per cent, to close at a fresh eight-month high of €3.35 as 18,212 shares exchanged ownership across seven transactions.

Malta Properties Company plc headed the list of gainers for the week as its shares rallied by 5.2 per cent. This increase was triggered by 14 deals worth €38,500.

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