IT equities soar as leading banks lose ground
MSE Trading Report for week ending February 19, 2016
The MSE Index extended the previous week’s marginal gain by 0.42 per cent, to close at 4,487.932 points. Turnover amounted to €3.8m spread across 20 issues of which four declined, 11 gained ground and five closed unchanged.
RS2 Software plc shares advanced by €0.06 or 1.8 per cent over the highest turnover for the week of €1.4m, closing at a record high of €3.40. On a similar note, the share price of 6pm Holdings plc appreciated by 4.8 per cent across five transactions of 31,228 shares, to close £0.035 higher at £0.76.
Loqus Holdings plc shares registered an 8.3 per cent increase as two trades of 2,636 shares were struck, closing at €0.13.
In the banking sector, Bank of Valletta plc (BOV) shares declined by a further 0.6 per cent as 345,320 shares were negotiated across 104 deals, to close at €2.202. Likewise, HSBC Bank Malta plc shares edged1.2 per cent lower over 96 trades of 299,541 shares, closing at €1.61, as investors await the financial results to be announced on Monday.
On a positive note, FIMBank plc shares increased by 4.1 per cent across eight deals of 157,121 shares, to close at $0.635. The Board of Directors of the bank is scheduled to meet on March 15, 2016 to consider and approve the Group’s and the Bank’s Audited Accounts for the financial year ended December 31, 2015 and to consider the recommendation of a dividend at the Annual General Meeting (AGM).
Meanwhile, Lombard Bank Malta plc shares traded flat at €2.185 on a sole transaction of a scant 58 shares.
The other non-movers for the week were Plaza Centres plc, MaltaPost plc, MIDI plc and Pefaco International plcshares, having closed unchanged at €0.98, €1.94, €0.35 and €2.24 respectively.
Mapfre Middlesea plc shares extended their recent winning streak, having advanced by two per cent over 15 trades of 22,378 shares, closing €0.05 higher at €2.50. The company’s AGM is scheduled to be held on April 22, 2016.
Malta International Airport plc shares oscillated between an all-time high of €4.74 and a weekly low of €4.70, to ultimately close with a weekly gain of 0.4 per cent at €4.72 – thus registering a year-to-date gain of 17.1 per cent. The equity was negotiated across 31 deals of 46,485 shares throughout the week.
Elsewhere, Simonds Farsons Cisk plc shares rallied by €0.20 or 3.3 per cent across three transactions of 3,628 shares to close at €6.30. Conversely, Medserv plc shares headed the list of fallers with a 1.5 per cent decline over 14 deals of 53,324 shares, to close at €1.54.
Malita Investments plc shares edged 1.1 per cent lower as 10 trades of 139,090 shares were struck, closing at €0.94. The company announced that the Board of Directors is scheduled to meet on March 1, 2016 to consider and approve the Company’s Audited Financial Statements for the financial year ended December 31, 2015 and to consider the recommendation of a final dividend at the Company’s Annual General Meeting.
International Hotel Investments plc shares recovered by a slight 0.14 per cent across 14 transactions of 58,140 shares, closing at €0.72. This week, the company Chairman and senior management provided stockbrokers and financial analysts with a comprehensive overview of the company’s business as investors, developers, project managers and hotel operators.
GO plc shares edged 0.6 per cent higher as 21 trades of 76,825 shares were negotiated, to close at its weekly high of €3.27. Similarly, Malta Properties Company plc shares fully erased last week’s loss having recouped by 1.8 per cent to close at €0.57.
Tigne Mall plc shares were active across four deals of 14,216 shares, closing one per cent higher at €0.98.
In the corporate bond market 26 issues were active of which 13 advanced, six fell in value and seven closed unchanged as turnover totalled €1.4m. The 5.75% Medserv plc Unsecured USD 2026 headed the list of gainers having with a five per cent gain, to close at $105, while the 5.1% 6PM Holdings plc Unsecured € 2025 registered the worst performance having declined by 2.6 per cent, to close at €111.
BOVannounced the issuance of Tranche 2 of the 3.5% Subordinated Notes maturing in 2030. The notes are subordinated and unsecured and will offer a coupon of 3.5% per annum. The bank is offering a subscription of a maximum nominal amount of €50,000,000, split into two series – Series 1/2016 and Series 2/2016 which will be fungible with the First Tranches and therefore, identical to the First Tranches in all aspects except for the issue dates and interest commencement dates.
In the sovereign debt market activity was spread over 27 issues of which 14 declined and 13 strengthened in value on a turnover of €14m. The 2.3% MGS 2029 (II) was the most liquid issue having witnessed a turnover of €2.3m, closing 0.6 per cent higher at €105.95.
On Thursday the Treasury announced the issue price for the new Malta Government Stocks (MGSs); the 1.5% MGS 2022 (IV) and the 2.5% MGS 2036 (I) are being offered at €105 and €101.50 respectively, yielding 0.696 per cent and 2.408 per cent.