MSE Index on the rise as MIA shares rally

MSE Trading Report for week ending April 13, 2017

The MSE Index closed in the black as a 0.033 per cent increase was registered. The Index settled at the 4,705.291 points asatotal of 12 equities were active during the week–of which five headed north, while sevendeclined. Total turnover amounted to €804,747.

Malta International Airport plcshares headed the list of gainers by recording a 2.4 per cent surge, to close at €4.19. The equity traded 21 times, as 27,080 shares exchanged hands. On Friday, April7,2017, Malta International Airport plc announced that during the winter period it welcomed over 1.6 million passengers, extending from November to March. The figure translates into an upturn of 25 per cent in traffic. This growth was reached on the back of an increase of 19 per cent in aircraft movements and an improvement of 26 per cent in seat capacity. The top five contributors to traffic during the winter months were the United Kingdom, Italy, Germany, Belgium, and France.

The season  closed off with March registering an increase of 53,795 passenger movements over 2016 – even though the Easter effect was registered in March last year. Last month also marked the launch of two new routes – Katowice in Poland and Cluj-Napoca in Romania, with more new connections expected to commence operations in the coming weeks.

Bank of Valletta plcshares gained 0.5 per cent, to close at €2.22 – the highest level since January 2008. Trading in this equity accounted for over 52 per cent of the week’s total trading on the Malta Stock Exchange.

In the same line of business, HSBC Bank Malta plc’s equity was also on the rise, as 11 trades saw the price increase by 0.3 per cent, to €2.087. Total turnover in this equity was just below €58,000.Last Thursday, the company held itsAnnual General Meeting,whereby all items on the agenda were approved, including the payment of a final gross dividend of 4.1 centsper share.

The other active banking equity, Lombard Bank Malta plc, registered a decline of 0.4 per cent in price onthin volume. The price at the end of the final trading session for the week read €2.488.

MaltaPost plcshares failed to keep hold of a fresh nine-week highof €2.05 reached intra-week, as it ended the week at €2.03 – a 1.5 per cent week-on-week increase. Trading was spread across seven deals, worth €40,845.

Albeit experiencing similar movements in magnitude, prices of MIDI plc shares and Malita Investments plc shares moved in opposite directions. The former traded on threeseparate occasions, as the price rose by 1.6 per cent, to close at €0.315, while the latter suffered a 1.3 per cent decline, to settle at the €0.74 price tag – a fresh 26 month low. Total turnover in both equities amounted to €5,070 and €18,470 respectively.

On Tuesday, Malita Investments plc announced that the agenda for the Company’s Annual General Meeting, due on Thursday April 27, 2017, has been set.  Amongst a number of ordinary resolutions, the Company shareholders will seek to follow suit on the Directors’ recommendation and declare a final gross dividend of 2.28 cents per share.

On Friday, RS2 Software plc announced that its Board of Directors is scheduled to meet on the April 18, 2017, in order to approve the Company’s financial statements for the year ended December 31, 2016. The Board will also decide on whether to recommend a dividend or not.Separately, the equity traded 11 times for a total value of €57,300. The price per share declined by 0.1 per cent, as it settled at €1.60– having declined from an intra-week high of €1.65.

Malta Properties Company plcshares headed the list of fallers for the week as the price declined by 5.5 per cent, to close at €0.515 – a three week low. This performance was registered across six transactions worth €12,896in total. Last Monday, the Company announced that the Second Annual General Meeting of the Company is to be held on Thursday May25,2017. It also confirmed that, subject to the shareholders’ confirmation, no dividend will be paid out.

Mapfre Middlesea plcshares also stooped to a fresh low, as the closing price of €2.12 makes it the lowest in four months– active over a single trade of a mere 200 shares. Listed equities of GO plc and International Hotel Investment plc also closed in the red. The former declined by 0.3 per cent, to close at a fresh one month low of €3.489, while the latter registered a 1.1 per cent fall, to close at €0.642.Total turnover in the telecommunications company reached €47,374, whereas IHI shares were active over one deal of 35,000 shares.

On Friday April7,2017, GO plc announced that the agenda for the Company’s Annual General Meeting, due on Wednesday May3,2017, has been set.  Amongst a number of ordinary resolutions, the Company shareholders will be asked to approve the payment of a Net Dividend of 11 cents per share. On the other hand, during the week, International Hotel Investments plc also issued an announcement in which it announced that its Annual General Meeting will be held on Tuesday, June 13, 2017.

Despite not registering any weekly trades, on Thursday, Simonds Farsons Cisk plc announced that its Board of Directors shall be meeting on May4,2017 to consider and approve the audited Financial Results for the year ended January 31, 2017. The Company shall also consider the declaration or otherwise of a final dividend to be recommended at the Annual General Meeting which is scheduled for the June 27, 2017.

Trading in the corporate debt marketwas positive as nearly half the active issues traded in positive territory. In fact, from the 32 active issues; 15bondsgainedin value, 11 declined and sixclosed unchanged. Total trading in corporate bond issues surpassed the €850,000 mark. The 7% Grand Harbour Marina plc € 2017-2020 and the 5.75% International Hotel Investments plc Unsecured € 2025 experienced the sharpest falls as they declined by 2.9 per cent and 2.8 per cent,respectively. The prices at the end of Thursday’s session read €100 and 105.02.

Trading in theSovereign debt market was generally flat as 10of the 21 active issues gained ground while another 10 declined. Only one active issue closed unchanged. The 2.1% MGS 2039 experienced the most positive results from the lot, as it increased by 1.1 per cent, to close at €97.03.Meanwhile, the most traded stock was the 2.3% MGS 2029 (II), accounting for almost over 23 per cent of the €5.48 million in total turnover.