MSE index lower on higher turnover
MSE Trading Report for week ending March 7, 2014
The Malta Stock Exchange (MSE) extended last week’s negative performance as it declined by a further 0.88 per cent throughout the first week of March, closing at 3,596.095 points. Turnover in the equity market increased by 23 per cent as €1.1 million worth of shares were negotiated, spread across 14 issuers, of which nine fell, two advanced and three closed the unchanged.
The banking equities were the primary laggards throughout the week. Bank of Valletta plc sharesstumbled by 2.1 per cent across 85 trades of 170,922 shares, to close €0.05 lower at €2.33. The equity traded at a high of €2.39 and a low of €2.32. Likewise, HSBC Bank Malta plc sharesplunged by one per cent over the highest turnover for the week of 212,569 shares, closing at €2.44, having traded at a low of €2.40 and a high of €2.479.
A FIMBank plc share slipped by 0.2 per cent as a sole transaction of 2,000 shares was executed on Monday, to close at $0.888. The trade finance bank announced that Mr Fouad Alghanim resigned as Director with effect from last Monday. Meanwhile, Lombard Bank Malta plc shares closed unchanged at €1.80 over three deals of 1,700 shares, despite having traded at €1.839.
Malta International Airport plc (MIA)shares sagged by 1.4 per cent across two trades of 1,200 shares, to close €0.03 lower at €2.17. Following the approval by the Board of Directors of the company’s financial statements for the financial year ended December 31, 2013, MIA reported that the Group registered a profit before tax of €22.7 million, compared to €19.5 million registered in 2012. Revenue amounted to €58.8 million, a rise of 11.3 per cent from 2012. The Board also approved a net dividend of €0.045 per share, to be paid to shareholders on the register of members after settlement as at close of business on April 22, 2014, payable by not later than June 9, 2014. The Directors have scheduled the company’s AGM for May 22, 2014. In a separate announcement the company stated that it had registered a record in passenger movements for the month of February 2014, as it welcomed a total of 193,225 passengers, representing a 9.3 per cent increase from 2013. This was due to an added capacity of seven per cent and a consistent seat load factor, which went up to 72.5 per cent for the month.
GO plc shares fell by a minimal 0.2 per cent as four deals of 6,000 shares were negotiated on Monday, closing at €2.094. The Board of Directors of the company is scheduled to meet on March 18, 2014 to consider and approve the company’s audited financial statements for the financial year ended December 31, 2013 and to consider the declaration of a final dividend to be recommended to the company’s Annual General Meeting (AGM). The AGM is scheduled to be held on May 6, 2014. Conversely, Malita Investments plc sharesappreciated by a minimal 0.2 per cent over two deals of 30,000 shares, closing at €0.542.
On Tuesday, Grand Harbour Marina plc shares lurched 1.6 per cent lower as 1,000 shares changed ownership, to close at €1.82. Similarly, Simonds Farsons Cisk plc shares edged 0.7 per cent lower over three trades of 6,566 shares, closing at €2.96. Santumas Shareholdings plc sharesplummeted by €0.20 or 9.1 per cent over a single trade of a mere 300 shares on Wednesday, to close at €2.00. Likewise, Medserv plc shares decreased by 1.5 per cent on Thursday across a single deal of 447 shares, closing at €1.28.
In the I.T. industry, RS2 Software plc shares were the only movers as they increased by 0.6 per cent over 17 trades of 53,800 shares, to close at €2.38. On the other hand, both 6pm Holdings plc and Crimsonwing plc shares traded unchanged at £0.72 and €0.81 respectively. The former was executed across three trades of 11,500 shares, while the latter witnessed two deals of 19,147 shares.
In the corporate bond market 20 issues were active, of which four rose, ten lost ground and six closed unchanged. Turnover totalled to €508,894. The best performer was the 5.35% Bank of Valletta plc Sub € 2019 as it edged 2.9 per cent higher. On Monday, AX Investments plc announced the allocation policy for its newly issued 6 per cent bond due to mature in 2024. The company will be satisfying all applications from the public for amounts up to €1,000 in full and in the case of applications for amounts of over €1,000; the company will likewise be satisfying the first €1,000 and allocating a further 14.473 per cent of the remaining balance of all such applications. All amounts being allocated have been rounded to the nearest €100. Interest on the bonds will commence on March 7, 2014 and refund of unallocated monies will be made by March 10, 2014. The bonds are expected to be admitted to listing on the official list of the MSE on March 17, 2014 and trading is expected to commence on March 18, 2014.
In the sovereign debt market turnover amounted to just shy of €21.8 million spread across 21 issues, of which 12 dropped and nine increased. The 3.75% MGS 2015 (VI) was the most liquid issue for the week as it witnessed a turnover volume of just under 8.1 million nominal. On Monday the Treasury announced that all subscriptions by members of the public with regards to the three newly issued government stocks have been accepted in full.