MSE Index climbs a further 1 per cent
MSE Trading Report for week ending January 13, 2017
The MSE Index registered another weekly gain as it appreciated by a further one per cent increase, to close the week at 4,690.277 points – a level last seen in March 2008, that is, almost nine years ago.
Elsewhere, the corporate bond market and the sovereign debt market performed in an inverse manner as the majority of the corporate bond issues declined while most government debt issues appreciated.
Once again, trading in the equity market was spread across 17 equities of which eight closed higher, five closed in the red and four closed unchanged. Total turnover surpassed the €1.4m mark.
In the banking industry,all listed equities registered gains.
Bank of Valletta plc sharesappreciated by 2.4 per cent across 102 deals worth €670,000 – accounting for 47 per cent of the week’s total turnover. The increase was registered when comparing this week’s closing price of €2.15 to last week’s adjusted closing price of €2.099. This adjustment reflects a one share bonus allotment for every 13 shares held at January 16, 2017. The €2.15 closing price marks a fresh two month high closing price.
HSBC Bank Malta plc shares appreciated to levels which were last seen in March 2014, as during the week, 32 deals worth almost €228,000 pushed its price 1.5 per cent to €1.98.
A single trade of 1,000 shares also resulted in an increase in Lombard Bank Malta plc’s share price as it closed the week at €2.33 – a weekly gain of 1.3 per cent.
Simonds Farsons Cisk plcshares reached a fresh all-time high closing price, as two deals amounting to 1,500 shares in total pushed the price up by 3.6 per cent, to reach €7.25. The highest ever traded price of SFC was €7.30.
GO plcshares recovered from a 24 cents slump experienced on Friday, to close the week 0.6 per cent higher at €3.30. This closing price marks a new eight month high.
The increase in the MSE Index was definitely not brought about by the performance of the listed equities in the property sector, as the majority declined in price, one registered a minimal increase and one closed unchanged. Malta Properties Company plc shares headed the list of fallers registering a 3.5 per cent decline to close at €0.56. Turnover exceeded €13,000 spread across nine trades.
A single deal of 2,500 shares also caused Plaza Centres plc shares to decline in value by 1.9 per cent and to close at €1.06. Similarly, Tigne Mall plc stumbled by 0.8 per cent in value to settle at the €1.18 price tag. The equity traded twice for a total of 10,000 shares changing ownership.
On the contrary, Malita Investments plc shares gained a mere 0.1 per cent, to close at €0.858. Turnover amounted to just over €13,000 spread across two trades.
Despite trading five times during the week and registering a turnover of almost €85,000, MIDI plc’s share price failed to veer from last week’s level of €0.35.
During the week,Malta International Airport plc announced that the airport reached an important 5 million passenger milestone in December exceeding expectations, closing the year with 5,080,071 passengers. The company forecasts a 2-3 per cent increase in passenger movements in 2017 targeting to reach a total revenue over €73 million, while net profit is projected to reach over €20 million.
Meanwhile, in another announcement on Thursday, the company announced that the board of directors is scheduled to meet on February 22, 2017 to consider and approve the company’s Financial Statements for the financial year ended December 31, 2016. The Board of Directors shall also consider whether to declare and make a recommendation to the shareholders for the payment of a dividend. This positive news helped its share price maintain the fresh ten week high of €4.10 reached on Tuesday when the equity appreciated by 1.2 per cent. In fact, nine trades were registered in this equity with a total turnover of over €141,600.
As opposed to what occurred in recent weeks, shares of RS2 Software plc fell in price, as 11 trades worth €43,000 resulted in a decline of 1.5 per cent, to close at €1.81.
Medserv plc shares traded once on thin volumes but still managed to register a fresh five week high. The equity closed at €1.66 which is a 3.1 per cent increase from last week’s closing price.
MaltaPost plcshares lost almost one per cent across two trades tallying to 6,400 shares. This week’s closing price read €2.06.
Another six deals took place during the week, five of which were dealt in International Hotel Investments plc while one trade was executed in Grand Harbour Marina plc shares. This trading left no effect on the respective equity prices as they closed unchanged at €0.62 and €0.899. No movement was noted in the share price of Mapfre Middlesea plc as three deals of 8,658 shares were executed at €2.25.
On thesovereigndebt fronttotal turnover reached almost€4.9 million, as 15 issues recovered some of last week’s losses.This, however, was not the case for seven issues which declinedevenfurther. The 4.5% MGS 2028 (II) headed the list of gainers, up by0.67 per cent to close at €134.04. On the contrary,the 2.1% MGS 2039 (I) r registered the biggest drop for the week, falling by0.79 per cent to close atpar.
In the corporate debt market a total of twenty-three issues were active during the week with 10issues losing ground, six registering gains and another seven closing flat. The 5.75% International Hotel Investments plc Unsecured € 2025 headed the list of losers as the issue slumped by 4.1 per cent to close at €105.41. Meanwhile, the 5% Dizz Finance plc Unsecured € 2026 gainedone per cent, to end the week at the €106. Total turnover in this market for the week amounted to€1.24 million.