BOV, Lombard and IHI lift index
MSE Trading Report for week ending December 15, 2017
The MSE Equity Total Return Index headed back into positive territory as the index fully recovered last week’s decline closing 1% higher at 8,568.919 points. A total of 16 equities were active during the week of which eight closed in the red, while six headed north. The advancement was primarily triggered by an increase of 7.4% in Bank of Valletta plc shares. Total turnover during the week amounted to €1.274million.
In the banking industry, Bank of Valletta plc shares accounted for 62% of total turnover to close 7.4% higher at €1.88 – reaching a three-week high. During the week, the equity reached a high of €1.88 and a low of €1.75, in a very active week for BOV shares following the very successful rights issue.
On the other hand, banking counterpart HSBC Bank Malta plc shares closed the week in the opposite direction, losing 2.2% of its value to close at €1.76. The equity traded twice over a slim volume.
Meanwhile Lombard Bank plc shares added on 4% to last week’s 0.5% gain, closing the week at the €2.30 price level. A total turnover of €31,331 was generated between seven transactions.
On Thursday, the bank announced that the Board of Directors is scheduled to meet on March 8, 2018 to approve the Group’s and the Bank’s final Audited Accounts for the Financial Year ended December 31, 2017 and to consider the declaration of a final dividend to be recommended to the Bank’s Annual General Meeting.
In the same sector, FIMBank plc oscillated between positive and negative ground as the equity reached highs of $0.70 to lows of $0.61 – closing flat at $0.61. A total of 56,112 shares exchanged hands over 10 deals.
In the telecommunications sector, GO plc shares erased the absolute majority of last week’s advancement as the equity declined by 0.8%, closing at €3.55. A total of eight transactions managed to generate a total turnover of €34,308.
International Hotel Investments plcshares continued were it left off last week as the equity added 1.1% to close the at €0.627. A total turnover of €35,362 was generated between five trades.
Same can be said for, Malta International Airport plc shares as four deals amounting to 6,042 shares saw the price gain by 0.4% to close at €4.679.
Seven trades amounting to 8,952 shares in Mapfre Middlesea plc saw the price of the equity shrink by 1% to close at €1.782.
On Friday, the Board of Directors of PG plc announced that the Board of the Planning Authority unanimously approved a permit for the building of additional floors at the Zara and Zara Home store at the Alhambra Complex in Sliema. This development will result in a new store, spread over seven floors. The enlargement of Alhambra Complex is expected to commence in January 2018 and is scheduled to be completed by the end of the year. The Board of Directors has also announced that it will open another Zara Home store at the PAVI Shopping Complex in Qormi. This store which will be around 500 square metres, is expected to open for the public in April 2018. Despite the positive announcement the equity declined by 1.7% to close at €1.425 – nearing a 12-week low.
Food and beverage firm, Simonds Farsons Cisk plc shares re-hit the nine euro mark as the equity closed the week 1.1% higher at €9.001. A total of three deals managed to generate a total turnover of €13,952.
In the oil and gas industry, Medserv plc shares started the week on lower but managed to gain ground later on during the week to close in the black by 1.4% at €1.136.
On the contrary, RS2 Software plc shares closed the week 1.3% lower as 17 trades managed to generate a total turnover of €114,828 to close at the €1.50 price level.
The price of Malta Properties Company plc continued to tumble during the week losing 5.5% of its value, to hit a fresh all-time low at €0.43.
In the same sector, MIDI plc shares failed to maintain its positive stance as the equity contracted by 0.9% to close at €0.347. Malita Investments plc shares followed suit as the equity declined by a marginal 0.1% to close at €0.75.
Elsewhere, Plaza Centres plc shares closed flat at €1.02 as a single trade of 4,400 shares was executed.
On Monday, The Board of Directors of MaltaPost plc approved the audited financial statements for the financial year ended September 30, 2017 and resolved that these statements be submitted for approval at the forthcoming Annual General Meeting to be held on February 9, 2018. The Board of Directors further resolved to recommend for the approval of the Annual General Meeting the payment of a final Gross Dividend of €0.0615 (Net: €0.04) per nominal €0.25 share.
The Dividend, if approved at the Annual General Meeting, will be paid on March 9, 2018 to shareholders on the Company’s share register at the Central Securities Depository of the Malta Stock Exchange as at close of business on January 9, 2018.
The Group ended its financial year on September 30, 2017 with a profit before tax of €3.1 million, a 4.1% increase over the previous year (€2.9 million). Foreign direct mail costs increased in line with revenue and together with increases in staff costs resulted in higher expenditure of €35.5 million (2016: €25.1 million). The earning per share year on year, decreasing from €0.06 in 2016 to €0.05 in 2017. The equity was not active this week.
In the corporate debt market a total of 36 issues were active of which, 19 headed higher, while six headed in the opposite direction. The 6% AX Investments plc € 2024 rebounded from last week’s 1.35% decline as the bond price increased by 2.45% to close at €112.70.
Meanwhile, in theLocal Sovereign Debt market, a total of 23 issues were active of which 12 headed higher, while nine closed in the red. Bonds with a maturity greater than 10 years registered the only gains, apart from the 2.1% MGS 2039(I) R and the 3% MGS 2040 (I) R closing 0.4% and 0.2% lower at €102.11 and €118.36 respectively.