Low turnover during Santa Marija holiday week

MSE Trading Report for week endingAugust18,2017

The MSE Equity Total Return Index closed in positive territory for the second consecutive week, closing 0.703 per cent higher, at 9,011.428 points – with Bank of Valletta plc shares being the major contributor towards this gain. A total of 13 equities were active during the week, out of which the gainers and losers tallied to five, while the non-movers amounted to three. Total turnover during the week dipped from €4.92 million to €862,067 as is normal during Santa Maria holiday week.

In the banking sector, Bank of Valletta plc shares fully recouped from last week’s lost ground, as the equity gained 4.2 per cent to close the week at €2.147 – reaching a two-week high. Total turnover in the equity amounted to €216,455, spread over 46 deals. On the other hand, HSBC Bank Malta plc continued to decline as the equity lost 2.3 per cent of its value to close at €1.91. A total of 122,580 shares were exchanged among 24 deals.

A total of 12 trades amounting to a turnover of €81,286 in GO plc saw the equity slip by a marginal 0.03 per cent to close at €3.599.

Last Friday, International Hotel Investments plc announced that it is expected to announce the financial results for the six months ended June 30, 2017 on Thursday, August 24. A single trade of 2,000 shares was executed as the equity closed  unchanged at €0.618.

Likewise, Malta International Airport plc shares traded six times during the week, generating a turnover of €38,774 while closing flat at €4.20.

Mapfre Middlesea plcshares gained 4.5% in value to reach its highest level since June 2017 as a mere 2,330 shares spread over two trades saw the equity close at    €1.939.

Similarly, Simonds Farsons Cisk plc shares reached a fresh all-time high as the equity closed the week at €7.80 – as a slim volume was exchanged over a single trade.

RS2 Software plcshares closed marginally higher week-on-week closing at €1.789. A total of 11 deals managed to generate a total turnover of €150,981.

Meanwhile, PG plc shares failed to veer despite trading nine times during the week, as 36,350 shares were exchanged, closing flat at €1.40.

Malta Properties Company plcshares outperformed its peers as the equity was up by six per cent on the week to close at €0.53. A total of 12 trades saw 13,726 shares changing hands.

On a negative note, Plaza Centres plc shares fell by two per cent to close at €1.078. A total of 29,000 shares were exchanged between six deals.

Tigne Mall plcshares followed suit as the equity closed 3.2 per cent lower at €0.90 – as the equity fell ex-dividend last Wednesday.

In the oil and gas industry, Medserv plc shares lost ground by 0.6 per cent to close at €1.335. A total of 15,500 shares were exchanged among seven deals.

Last Friday, Santumas Shareholdings plc announced that the Board of Directors of the company approved the audited financial statements of annual results for the financial year ended April 30, 2017.

The company registered a profit before tax of €1.83m, compared to €2.37m registered in 2016. Total Revenue for the period under review amounted to €1.96 million, a decrease of 21.2% from 2016. However, the results for the year have been materially affected by the redemption of one particular ground rent which resulted in a net income of €900,541. Despite, the material realised gain from this transaction, the results for 2017 are not materially different from the profits shown for the financial year ending April 30, 2016 in view of the unrealised profits booked following the increase in fair value of investment properties in financial year ended April 30, 2016 – part of which has been realised in the financial year ending April 30, 2017.

Meanwhile, earnings per share decreased to €0.36 from the €0.48 registered in 2016. The Board further resolved to recommend that the AGM approves the payment of a bonus share issue of one (1) share for every two (2) shares held which will be allotted to shareholders on the company’s share register as at close of business on Friday, December 1, 2017.  The bonus issue will be funded by a capitalisation of reserves amounting to €609,508. The management further highlighted that the previous two years have both yielded extremely positive results primarily as a result of one off events which are not expected to be repeated in the short-term. No dividend payment is being proposed. The equity was inactive during the week.

In the sovereign debt front, a total of 24 issues were active, as 15 headed south, eight closed higher, while one closed flat.  The 2.2% MGS 2035 (I) r registered the strongest performance during the week as the bond price gained 0.54 per cent to close at €105. The 2.1% MGS 2039 (I) was the most liquid bond during the week as 63 trades generated a total turnover of €1.269m to close the week 0.2 per cent higher at €99.53.

Meanwhile, in the corporate debt front, a total of 27 issues were active, out of which 12 gained ground, nine headed south, while six remained unaltered.

Grand Harbour Marina p.l.c., last Monday announced the basis of acceptance for the €15,000,000, 4.50% Unsecured Bonds 2027. Applications for an aggregate value of €8,869,200 were received for the €11,000,000 Bonds reserved for the redemption bondholders.

The balance of the bonds not subscribed to by the redemption bondholders equal to €2,130,800 was reserved for subscription by selected authorised financial intermediaries through an Intermediaries’ Offer.

Meanwhile, €2,832,300 were received for the €2m bonds reserved for the existing shareholders – the first €20,000 in full and 21.78% on the remaining balance rounded to the nearest €100. Trading is expected to commence on August 23, 2017.