All-positive week on the MSE
MSE Trading Report for week ending December 6, 2013
The Malta Stock Exchange (MSE) Index extended last week’s gains by a further 0.59 per cent as it registered an increase throughout the entire week – the highest gain of 0.217 per cent recorded on Tuesday. Activity was spread across 17 equities of which 12 gained, four slipped and one remained unchanged.
In the banking industry, HSBC Bank Malta plc was the top performing equity as it appreciated by one per cent over 17 deals of 38,000 shares, to close at €2.565. Similarly, Bank of Valletta plc edged 0.6 per cent higher on 52 trades of 81,420 shares to close at €2.625. Conversely, Lombard Bank Malta plc shares stumbled 2.6 per cent as 13,750 shares exchanged hands across eight transactions, to close €0.05 lower at €1.85. Likewise, FIMBank plc edged 0.1 per cent lower over two trades of 7,870 shares, closing at $0.944.
RS2 Software plc failed to maintain last week’s positive outlook as its share price fell by €0.051 as 20 trades of 119,509 shares were struck, to close at €2.299. On the other hand, Crimsonwing plc shares managed a 1.2 per cent gain as 25 deals of 437,700 shares were executed. After closing at a weekly high of €0.87 during the opening three sessions, the equity ended the last two sessions of the week at €0.86. Meanwhile, 6PM Holdings plc traded flat at £0.70 over three transactions of 25,000 shares.
Middlesea Insurance plc shares soared by €0.039 or 4.6 per cent over six trades of 17,270 shares, closing at €0.889. Similarly, Santumas Shareholdings plc rallied by €0.40 across four deals of a mere 1,062 shares, to close 22.2 per cent higher at €2.20. Meanwhile, MIDI plc was the most active equity for the second consecutive week as it witnessed eight trades of 1.35m shares, to close 6.3 per cent higher at €0.27.
In the hoteliers sector, Island Hotels Group Holdings plc rose by a minimal 0.1 per cent over a single trade of 1,000 shares, to close at €0.90. Conversely, International Hotel Investments plc (IHI) declined by a marginal 0.1 per cent across one trade of 1,551 shares, closing at €0.839. The company reported that Mr Andy Watson has resigned from the post of non-executive Director of IHI and will be replaced by Mr Ziad Makkawi.
GO plcstrengthened by €0.02 or 1.2 per cent across 23 deals of 226,257 shares, to close at €1.67. Forthnet S.A., the Greek telecommunications company in which GO has indirect equity, announced that during the Extraordinary General Meeting held on August 8, 2012 – which was approved by the Capital Market Commission on November 29, 2013 – the shareholders resolved that the company’s share capital will be increased up to €29.1m with the issue of up to 97.1m new common registered dematerialised shares with a nominal value of €0.30 each, payable in cash and with pre-emption rights in favour of the existing shareholders at a ratio of 15 new shares for two existing shares. The beneficiaries of pre-emption rights, after having fully exercised their pre-emption rights, will be entitled to an oversubscription right. The shares to be issued as a result of the share capital increase payable in cash shall be admitted for trading to the Athens Stock Exchange. GO hasnot yet announced whether it intends to participate in this new share issue.
Medserv plc traded unchanged on Wednesday and Thursday at€1.34 – reflecting the share split announced on November 21, 2013. The equity then climbed by 1.1 per cent on Thursday as one trade of 745 shares was executed, closing the week at €1.355.
Similarly, MaltaPost plc advanced by €0.03 across four deals of 24,168 shares, to close 2.7 per cent higher at €1.13.On Friday afternoon, MaltaPost plc announced that the Board of Directors approved the company’s financial statements for the year ended September 30, 2013. These audited financial statements will be submitted for approval of the shareholders at the forthcoming Annual General Meeting (AGM) scheduled for January 15, 2014. The company registered a profit before tax of €1.95 million, compared to €2.06 million registered in 2012. Revenue for the period under review amounted to €21.64 million, a rise of 2.5 per cent from 2012. Earnings per share remained unchanged at €0.04. The Board of Directors further resolved to recommend the payment of a final ordinary net dividend of €0.04 per share and the option to shareholders to receive the dividend either in cash or by the issue of new shares. The attribution price has been determined at €1.07 per share. The final dividend, if approved at the Annual General Meeting, will be paid on January 25, 2014 to shareholders on the company’s share register as at close of business on December 16, 2013.
The other gainers for the week were Malita Investments plc and Tigne’ Mall plc which increased by 0.8 per cent and one per cent respectively. The former witnessed one deal of 760,480 shares, to close at €0.525, while the latter was executed over two trades of 32,000 shares, closing at €0.51.
On Friday, Malta International Airport plc reported thatairport traffic figures in November 2013 grew by 17.8 per cent compared to November 2012, therefore marking another record month – a total of 249,133 passengers were hosted during the month. The local airport hosted more than 3.8 million passengers from January to November, reflecting a 10.4 per cent increase over the same period last year.
In the corporate bond market turnover amounted to a value of €385,364 spread across 19 issues of which seven appreciated, four slid and eight remained unchanged. The newly issued 4.9% Gasan Finance Company plc € 2019-2021 headed the list of gainers as it soared by 3.5 per cent in its first trading days. Meanwhile, in the sovereign debt market 17 issues were active of which 16 issues lost ground while the long dated 4.65% MGS 2032 (I) r increased minimally. Total turnover value amounted to just over €8.8 million.