MSE Index registers a marginal gain

MSE Trading Report for week ending June 10, 2016

The Malta Stock Exchange (MSE) Index partially erased the previous weeks’ losses having increased by 0.22 per cent, to close at 4,442.789 points. Turnover amounted to €916,192 and was spread across 16 equities of which six fell, five gained ground and another five closed unchanged.

GlobalCapital plc shares were the best performers having appreciated by 10.9 per cent across seven trades of 20,400 shares, closing at €0.50. Conversely, Lombard Bank Malta plc shares headed the list of fallers having declined by €0.10 or 4.8 per cent, to close at €2. The banking equity was active on a sole transaction of a mere 601 shares.

FIMBank plc shares partially recouped the previous week’s losses having advanced by 2.4 per cent over 22 trades of 361,050 shares, closing at $0.84. On Wednesday, the bank issued its Interim Directors’ Statement, which highlighted that FIMBank notched profits every month since the start of the year and has thus improved its performance when compared to the same period of 2015. Cost control measures have continued to be implemented and a significant and effective process of restructuring of its factoring network, by means of acquiring full or majority control of entities already part of its network and by winding down companies which no longer form part of the Group strategy,  has been initiated. Significant improvements in the Group governance procedures and risk management were also reported.

Bank of Valletta plc shares fell by 0.9 per cent as 143,090 shares were executed over 56 deals, to close at €2.20. Meanwhile, HSBC Bank Malta plc shares closed unchanged at €1.60 as 19 trades of 91,712 shares were negotiated.

GO plc shares remained unchanged at €2.90 as 19,390 shares changed ownership over 10 deals.  On a positive note, Malta Properties Company plc shares edged 5.3 per cent higher over eight deals of 48,000 shares, closing at €0.538.

Meanwhile, International Hotel Investments plc partially reversed the previous week’s decline, having appreciated by three per cent across six transactions of 21,144 shares, to close at €0.649.On Tuesday, IHI announced that its subsidiary CHI Limited has signed agreements with the UAE-based Meydan Group to provide technical services and to manage a luxury beachfront resort under construction in Dubai. Moreover, during its Annual General Meeting (AGM) on June 9, 2016, all resolutions on the agenda were approved.

Mapfre Middlesea plc shares slipped by 0.5 per cent as a scant 616 shares changed hands over two deals, to close at €2.20. Similarly, Santumas Shareholdings plc shares declined by €0.03 or 1.3 per cent over a single transaction of 120 shares, closing at €2.35.

RS2 Software plc shares edged 0.7 per cent higher across five trades of 5,796 shares, to close at €3.489. Conversely, MIDI plc shares declined by one per cent over three transactions of 11,200 shares, closing at €0.38.

Elsewhere, MaltaPost plc shares edged 0.1 per cent lower as nine deals of 12,818 shares were executed, to close at €1.80. Meanwhile, Malta International Airport plc shares closed unchanged at €4.30. The local airport operator’s equity was active on five trades of 6,935 shares.

On Monday, Grand Harbour Marina plc witnessed a sole trade of 1,000 shares, to close unchanged at €0.90. Likewise Medserv plc shares remained unchanged at €1.75 as two deals of 3,250 shares were negotiated.

Simonds Farsons Cisk plc announced that its AGM will be held on June 28, 2016 to approve the Income Statement and Statement of Financial Position for the year ended January 31, 2016 and the payment of a final net dividend of €0.0733 per ordinary share of €0.30, on June 30, 2016. The equity was not active this week.

In the corporate bond market 35 issues were active of which 14 increased in value, seven fell and 15 closed unchanged as turnover amounted to €1.6m. The 5.1% 6PM Holdings plc Unsecured € 2025 was the most liquid issue having witnessed a turnover of €264,330 and closing unchanged at €111.

On Wednesday, GlobalCapital plc announced that the issue of €10m GlobalCapital plc 5% Unsecured Bonds 2021, was oversubscribed.   Existing Bondholders will be receiving the full amount of New Bonds applied for and an allocation policy shall be announced for the scaling down of applications by professional clients. The new bonds are expected to be admitted to listing on the Official List of the Malta Stock Exchange on June 13, 2016 and trading in the new bonds are to commence on June 15, 2016.

In the sovereign debt market turnover amounted to €7.9m. A total of 22 issues were active of which five declined, 16 advanced and one closed unchanged. The 3% MGS 2040 (I) headed the list of gainers having advanced by 1.3 per cent, closing at €111.80 while the 2.5% MGS 2036 (I) was the most active with a turnover worth €4.25m.