Thirteen equities lift index higher

MSE Trading Report for week ending April 8, 2016

The Malta Stock Exchange (MSE) Index appreciated by a further 0.93 per cent, closing the week at 4,587.178 points. Turnover amounted to €1.5m spread across 17 equities of which 13 gained ground, three fell and one closed unchanged.

In the banking sector, HSBC Bank Malta plc shares headed the list of gainers having soared by €0.06 or 3.8 per cent across 21 deals of 42,486 shares, closing at €1.66. The bank announced that its Annual General Meeting (AGM) will be held on April 15, 2016, to approve the audited accounts for the year ended December 31, 2015, the Directors’ and Auditors’ report, and the declaration of a final gross dividend of €0.026 per share representing a final gross payment of €9,367,959.

Bank of Valletta plc shares oscillated between a weekly high of €2.285 and a low of €2.27, to ultimately close 0.6 per cent higher at €2.284. The equity witnessed 51 trades of 181,819 shares. Similarly, FIMBank plc shares increased by0.7 per cent over six transactions of 41,299 shares, to close at $0.74. Shareholders on the official register as at April 6, 2016 were to one bonus issue for every 25 shares held.

Similarly, Lombard Bank Malta plc shares partially erased the previous week’s losses having advanced by 1.4 per cent as two trades of 9,710 shares were struck, to close at €2.23. The bank announced that its AGM will be held on April 28, 2016 to approve the Audited Financial Statements and consider the Report of the Directors and Auditors for the year ended December 31, 2015 and to declare a final net dividend of €0.026 per share, representing a final gross payment of €1.8m.

International Hotel Investments plc shares increased by 1.6 per cent as 112,425 shares changed ownership across 19 trades, closing at €0.65. Last Thursday, the company announced that its AGM will be held on June 9, 2016.

Malta Properties Company plc shares were the best performers for the week having strengthened by €0.03 or 5.4 per cent, closing at €0.59. On a similar note, GO plc shares edged 0.9 per cent higher as 17 deals of 31,176 shares changed hands, closing at €3.48.

In the I.T. sector, 6PM Holdings plc shares rose by a further 3.5 per cent as 29,000 shares changed hands, to close £0.03 higher at £0.88. On Tuesday, the company announced that an Extraordinary General Meeting will be held on the April 28, 2016 for shareholders to authorise the Company to furnish in confidence information, including unpublished sensitive information as may be necessary to enable a bona fide offeror(s), a bona fide transferor(s) and their respective advisors to make, confirm, withdraw or modify an offer to acquire a Substantial Shareholding in the Company. Moreover, in furtherance of this resolution, the Board of Directors would be authorised to disclose information as deemed fit and proper.

RS2 Software plc share price increased by an additional 0.5 per cent over 28 deals of 67,215 shares, closing at €3.80.

Malita Investments plc shares partially erased the previous week’s losses having recouped by 2.2 per cent across two transactions of 1,800 shares, to close at €0.94. Last Tuesday, the company announced that its next Annual General Meeting will be held on April 26, 2016 to consider and approve the Annual Report and Financial Statements for the year ended December 31, 2015 and the Directors’ and Auditors’ Reports, the recommendation of a gross dividend of €3,258,377, equating to a final net dividend of €0.0143 per share.

Medserv plc shares increased by a further 4.1 per cent over 20 deals of 114,073 shares, closing €0.07 higher at €1.80. On a similar note, Simonds Farsons Cisk plc shares also extended the previous week’s gains, having advanced by one per cent as four trades of 3,974 shares were executed, to close at €6.10.

Malta International Airport plc shares succumbed to selling pressure, having declined by €0.119 or 2.7 per cent across 15 deals of 19,078 shares, closing at €4.38. After close of trading on Friday, the company reported that it registered a 13 per cent surge in passenger movements this winter compared to a five per cent growth rate registered the year before. The local airport operator witnessed 800,724 passenger movements in the first quarter of the year. March saw 327,524 passenger movements – resulting in a 19 per cent increase over 2015.

Plaza Centres plc shares slipped by 1.5 per cent as two deals of 63,533 shares were struck, closing at €1.02. Meanwhile, Tigne Mall plc shares increased by 0.1 per cent over two trades of 20,000 shares, to close at €1.05.

MIDI plc shares fell by 2.6 per cent over 11 transactions of 174,476 shares, to close at €0.37. Meanwhile, MaltaPost plc shares were the only non-movers for the week having traded flat at €1.98 on a sole transaction of a mere 475 shares.

In the corporate bond market 32 issues were active of which 17 fell, six gained ground and nine closed unchanged. Turnover amounted to €718,387. Despite the gains registered in the equity of 6PM, the 5.1% 6PM Holdings plc Unsecured Bonds € 2025 declined by 1.3 per cent, to close at €109.59.

After close of trading on Friday, Corinthia Finance plc announced that the issue of €40m 4.25% Corinthia Finance plc Unsecured Bonds 2026 has been oversubscribed. As a result, the Intermediaries’ Offer has been cancelled.

In the sovereign debt market turnover totalled to €17.3m spread over 24 issues of which 19 decreased, four gained ground and the 2% MGS 2020 (V) traded unchanged at €107.79. The recently issued 2.5% MGS 2036 (I) r increased by a further 0.3 per cent on the highest volume for the week of €7.5m, closing at €105.02.