MSE Index extends negative trend
MSE Trading Report for week ending June 20, 2014
The Malta Stock Exchange (MSE) Index extended its weekly losses by a further 1.15 per cent, closing at 3,350.227 points. A total of 13 equities were active amounting to a turnover value of €723,973. Six equities registered a decline, five advanced while two closed the week unchanged. Plaza Centres plc (Plaza) shares were the worst performers, while Medserv plc shares headed the list of gainers.
Investors proved bearish towards the two major banks this week. Bank of Valletta plc shares stumbled by 2.3 per cent across the highest turnover for the week of 197,911 shares, closing €0.05 lower at €2.10. Similarly, HSBC Bank Malta plc shares oscillated between a weekly high of €2.10 and a low of €2.05, to finally close 1 per cent lower at €2.07. The equity was active across26 deals of 68,192 shares. Conversely, Lombard Bank Malta plc shares increased by 0.3 per cent as five transactions of 6,930 shares were struck, closing at €1.46.
Shares from the hoteliers’ industry also took a pounding this week as International Hotel Investments plc and Island Hotels Group Holdings plc (IHG) shares sank by 2.7 per cent and 3.5 per cent respectively. The former witnessed two transactions of a mere 931 shares, closing at €0.76, while two trades of 5,000 shares were executed in IHG, to close at €0.82.
In the I.T. industry 6PM Holdings plc shares appreciated by 3.3 per cent over four deals of 5,786 shares, closing £0.024 higher at £0.75. Meanwhile, RS2 Software plc shares registered an increase for the fourth consecutive week advancing by a further 0.7 per cent across two trades of 3,670 shares, to close at €2.72.
Medserv plc shares partially recouped the previous week’s declines as its share price strengthened by €0.04 or 3.3 per cent on four deals of 8,840 shares, closing at €1.24. On a similar note, the share price of Malta International Airport plc climbed 2.5 per cent as 14 trades of 37,672 shares were negotiated, to close at €2.275.
On Friday,Middlesea Insurance plc shares dipped by €0.04 over three transactions of 1,352 shares, closing 4.4 per cent lower at €0.88. Plaza shares shed 5.1 per cent of its share price, to close at €0.56. The equity was active across one deal of a scant 500 shares. Tigne Mall plc held its Annual General Meeting (AGM) on Thursday, at which the audited financial statements for the year ended December 31, 2013 were approved as well as the payment of a final ordinary net dividend of €0.0125 per nominal €0.50 share, representing a final net dividend payment of €705,000.
GO plc shares closed the week unchanged at €2.01 as nine trades of 18,500 shares were dealt. Likewise, MIDI plc shares traded flat at €0.24 on a single transaction of 2,500 shares.
On Wednesday, Simonds Farsons Cisk plc held its 67th AGM, at which the shareholders approved the income statement and statement of financial position for the year ended January 31, 2014 and a final net dividend of €1.5 million. The company reported that it has made progress on the preparation of a master-plan for the development of the Farsons Business Park (the old brew house). Once completed, the project will include around 50,000m2 of commercial space anchored by Grade A offices, as well as retail, leisure, cultural and social facilities. The old brew house will be transformed into a leisure entertainment hub with restaurants, bars, event spaces and a brewery visitor experience which celebrates the past, present and future of Farsons and its brands, showcasing the brewing and packaging processes and latest innovations. It will also provide a new generation of innovative workspace solutions for creative and emerging business enterprises. The Board has recently been presented with an initial proposal of this master-plan, and is now studying the way forward to secure the necessary MEPA, Transport Malta and other regulatory approvals before proceeding on to the detailed design phases of the project. The company announced that the board will be engaging with financial service providers on the best way to structure and fund the project, as well as with other potential stakeholders, such as developers in the Mriehel area and Government agencies which own substantial areas of land in the vicinity.
In the corporate bond market turnover reached over €1.5 million spread across 26 issues of which four slipped, eight rose in value and 14 closed unchanged. The 5.35% Izola Bank plc secured notes 2015 was the most liquid as it witnessed a traded volume of 726,000 nominal. Meanwhile, in the sovereign debt market 26 issues were active as 109 deals worth €1.96m were executed – five issues fell in value while 21 registered a gain. The recently issued 4.3% MGS 2033 (I) r was the top-performing issue for the week as it edged three per cent higher.