MSE Index up 13 per cent in first 4 months

MSE Trading Report for week ending April 30, 2015

The MSE Index halted its recent negative streak as it recouped by 1.07 per cent, to close the four-day trading week at 3,767.658 points and thus registering a decline of 0.22 per cent in April. The local equity index has gained 13.1 per cent in the first four months of 2015. This week activity was spread across 15 equities of which four gained ground, eight fell and three closed unchanged. Turnover amounted to €743,855.

Bank of Valletta plc shares appreciated by €0.084 or 3.8 per cent across the highest turnover for the week of 83,862 shares. In anticipation of the announcement of the bank’s six months financial results the equity oscillated between a weekly high of €2.295 and a low of €2.21, to ultimately close at €2.294.

After close of trading on Thursday, the company announced that the Group registered a profit before tax of €58.8m for the six months ended March 31, 2015, compared to €50.7m registered in 2014. Operating profits increased by 13 per cent to €51 million for the six month period. Earnings per share increased to €0.112. An interim dividend of €0.039 gross per share – €0.025 net has been declared by the Board of Directors. The dividend pay-out which is equivalent to the same gross interim dividend of March 2014, as restated for the bonus issue of January 2015 will be paid on May 27, 2015 to those members appearing on the bank’s register of member as at May 12, 2015.

HSBC Bank Malta plc shares advanced by 2.3 per cent after adjusting for the one bonus share for every nine shares allotted to eligible shareholders. The equity was active on 17 trades of 47,240 shares, closing €0.042 higher at €1.871. Conversely, Lombard Bank Malta plc shares declined by €0.05 or 2.6 per cent as 11 deals of 23,020 shares were struck, to close at €1.90.

Loqus Holdings plc shares headed the list of losers havingstumbled by 13.6 per cent over two deals of a mere 150 shares, closing at €0.121. Similarly, Malita Investments plc shares took at 5.2 per cent pounding as nine trades of 73,000 shares were negotiated, to close at €0.91.

MIDI plc shares were executed over five deals of 80,600 shares, closing 3.5 per cent lower at €0.28. The Board of Directors of the companyapproved the financial statements for the year ended December 31, 2014.The group registered a loss before tax of €2.2m, compared to a €1.5m loss registered in 2013. Revenue for the period under review amounted to €13.3m, an increase of 70 per cent from 2013. Revenues from the development and sale of property amounted to €11.8m. This figure mainly relates to the sale of the T14 site located at Tigne Point for a consideration of €11.7m to Mid Knight Holdings Limited, a joint venture company between T14 Investments Limited (a MIDI wholly owned subsidiary) and Benny Holdings Limited. 

MaltaPost plc shares decreased by two per cent over a single transaction of 2,513 shares, closing at €1.421. Similarly, Malta International Airport plc shares slipped by 0.6 per cent across 14 trades of 12,000, to close at €3.46.

RS2 Software plc shares appreciated for the fourth consecutive week by a further 1.5 per cent, closing at anall-time high of €3.12 – 5.1 per cent increase for the month. Likewise, Tigne Mall plc shares soared by €0.048 or 6.4 per cent as 5,600 shares changed ownership, to close at a record high of €0.80.

After three consecutive weekly gains,Medserv plc shares declined by one per cent over three trades of 6,625 shares this week, closing at €2.03. Similarly, International Hotel Investments plc shares fell by a further 1.5 per cent as 70,000 shares changed ownership, to close at €0.68 – a 4.2 per cent decline for the month.

Simonds Farsons Cisk plc announced that the group registered a profit before tax of €8.2m for the year ended January 31, 2015, compared to €6.9m in 2014. Revenue for the period amounted to €79.2m, an increase of 1.1 per cent from 2014. Earnings per share increased to €0.27. The Board has resolved to recommend a final net dividend of €0.0666 per share, to be paid by not later than June 26, 2015, if approved by the AGM scheduled on June 25, 2015. The equity was not active this week.

The non-movers for the week were Middlesea Insurance plc, GO plc and 6PM Holdings plc shares as they all closed unchanged at €1.22, €2.84 and £0.76 respectively. 

In the corporate bond market turnover amounted to €388,145 spread across 21 issues of which six declined, four increased and 11 closed unchanged. The 7.15% Mediterranean Investments Holding plc Euro 2015-2017 was theworst performer as it stumbled by 3.1 per cent, to close at €92.10 on one deal of 2,000 nominal bonds.

Investors shiftedaway from the sovereign debt market as out of 26 active issues23 registered losses, two edged minimally higher and one closed unchanged. The recently issued 3% MGS 2040 (I) r shaved off 1.9 per cent of its price, closing at €116.29. The long-dated issue was the most liquid issue as it witnessed a turnover of €2.35m nominal.