RS2, Medserv and MaltaPost at all-time highs

The MSE Index gained a slight 0.4 per cent following last week minimal decline to close the week at 4,339.412 points. Turnover amounted to €1.2m as 16 equities were traded, of which, seven increased in value, five closed in the red while four closed unchanged.

The best performing equity of the week was Bank of Valletta plc as its share price rallied by 3.3 per cent, to close at a seven-month high of €2.44 as 80 deals of 230,098 shares were concluded – amounting to a turnover of €550k or 44 per cent of total turnover.

After close of trading on Friday, the Board of Directors of Bank of Valletta plc approved the audited results for the financial year ended September 30, 2015. The Group registered a profit before tax of €117.9m compared to €104.1m registered in 2014. Net interest income for the period under review amounted to €144.8m, a rise of 14.9 per cent from 2014. Earnings per share increased to €0.22. Moreover, a final gross dividend of €0.085 per share (€0.05525 net) is being recommended by the Board of Directors for the approval of shareholders at the annual general meeting. This dividend together with the interim dividend amount to a total gross dividend for the year of €0.124 per share (€0.0806 net). A bonus share issue of one share for every twelve shares held is being recommended and will be allotted to shareholders on the Bank's share register as at close of business on January 15, 2016.

Conversely, HSBC Bank Malta plc shares nearly erased last week’s 2.8 per cent gain as they declined by 2.7 per cent over 30 transactions of 140,873 shares to close at €1.80.

The other banking equity, FIMBank plc closed unchanged at $0.43 as 37,450 shares changed hands over three deals.

In the same sector, Mapfre Middlesea plc shares headed the list of fallers as they drifted 3.7 per cent lower to close at €2.12 – albeit on thin volume as a single trade of a scant 288 shares was concluded.

RS2 Software plc, Medserv plc and MaltaPost plc all closed the week at record highs.

Of the three, RS2 Software plc shares recorded the highest increase as they put on 2.4 per cent to close at €2.55 as 15 deals of 56,699 shares were concluded.

Meanwhile, Medserv plc shares closed at €3.15 having gained 1.8 per cent over two deals of 1,000 shares.

The other equity to reach new highs, MaltaPost plc, inched 0.05 per cent higher to close at €1.821 – recording an all-time high for the fifth consecutive week.

Elsewhere, GO plc shares recouped some of last week’s six per cent loss, having registered a 1.5 per cent higher over 10 transactions of 18,700 shares to close at €3.30. The company announced that at the Extraordinary General Meeting held on Thursday, shareholders approved the authorisation for the board of directors to seek bids from bona fide offerors for the Company’s issued share capital and to disclose information, including unpublished price sensitive information as deemed appropriate to enable prospective bona fide offerors and their advisers to make, confirm, withdraw or modify any bona fide offer for the shareholding in the Company.

International Hotel Investments plc shares recovered by 0.5 per cent from last week’s 1.8 per cent loss as four transactions of 41,882 shares pushed the price up to €0.78. In its interim directors’ statement, the company announced that its positive trends continued during quarter three and expectations for the rest of the financial year remain buoyant. Excluding the six months’ results of Island Hotels Group (IHG), the EBITDA results for IHI properties on a like-for-like basis, will show a 16% increase over 2014. Similarly, CHI Ltd, the management company is expected to register record profits in 2015. Current forecasts indicate record profit performance in all of IHI’s hotels. Further growth is forecasted for the upcoming year with new development and management agreements with third party investors in cities and resorts across Europe and the Gulf.

The other equity to recover some of last week’s losses was Malta International Airport plc as its share price gained a mere 0.3 per cent over 16 trades of 27,347 shares to close at €3.86.

In the property sector, MIDI plc shares closed at €0.35 as a single trade of 10,000 shares pushed the price down by 2.8 per cent.  

Meanwhile, Malita Investments plc shares shed 1.6 per cent to close at €0.92 over one deal of 10,000 shares. In the same sector, three deals of 13,000 shares pushed the share price of Plaza Centres plc down by one per cent.

The other property equity, Tigne Mall plc closed unchanged at €0.95 as 16,400 shares changed hands over two deals.

Similarly, Simonds Farsons Cisk plc and Grand Harbour Marina plc shares sustained their previous levels of €6 and €1 respectively.

In the corporate bond market, total turnover more than doubled to €1.4m as 24 issues were active of which eight advanced, seven lost ground while nine closed unchanged. The 5.75% International Hotel Investments plc Unsecured € 2025 was the best performer as it registered a 4.5 per cent gain to close at €111.85 over two deals of 13,600 nominal. Conversely, the 6.2% Mizzi Org. Finance plc € 2016-2019 closed 3.3 per cent lower as two trades of 1,700 nominal pushed the price down to €103. The most liquid issue was the 4.5% Hili Properties plc Unsecured € 2025 as 105 transactions of 646,400 nominal worth €691k were deal.

On the sovereign debt front, 25 issues were traded of which 12 closed in positive territory, 11 closed in the red, while two closed unchanged. The 4.1% MGS 2034 (I) headed the list of gainers as nine deals of 283,000 nominal pushed the price up by 1.5 per cent to close at €128.68. Total turnover amounted to €9.9m of which 45 per cent was recorded in the 2.3% MGS 2029 (II) FI Oct 15 r issue, which closed unchanged at €105.37.