GO plc shares recoup by 11.1%

MSE Trading Report for week ending July 31, 2015

The MSE Index fully erased last week’s decline, having appreciated by 2.2 per cent, to close at 4,207.572 points. Activity was spread across 19 equities of which 11 gained ground while fallers and non-movers tallied at four as turnover totalled €2.9m.

GO plc shares almost fully recouped last week’s hefty 12.5 per cent loss, having appreciated by €0.35 or 11.1 per cent, to close at €3.50. The telecommunications provider’s shares were the most active for the week, having witnessed 76 trades of 234,050 shares. The recovery occurred following a press release issued last Sunday, by the major shareholder, Emirates International TelecommunicationsMalta Limited (EIT). EIT stated that it will continue to maintain its shareholding in Malta Properties Limited after the demerger from Go plc but will divest its shareholding in Go plc. EIT stated that it has only just started the process of evaluating its options and will adhere to all applicable legal requirements. EIT has not yet approached or identified any buyer for its stake. In the course of making such evaluations, EIT is and will seek to safeguard the interests of all GO shareholders.

In the banking sector, HSBC Bank Malta plc shares were the only negative performers having decreased by 1.6 per cent as 25 deals of 114,093 shares were struck, closing at €1.791. Conversely, Bank of Valletta plc shares advanced by 1.1 per cent over 55 trades of 170,351 shares, to close at €2.30.

Lombard Bank Malta plc shares extended their recent winning streak, having gained 5.1 per cent as 252,295 shares changed ownership, closing €0.10 higher at €2.049. Likewise, FIMBank plc shares advanced by a further 5.3 per cent as 12,810 shares changed hands, to close at $0.495.

Malta International Airport plc shares oscillated between an all-time high of €4 and a weekly low of €3.70, to ultimately close the week 8.1 per cent higher at €3.95. The local airport operators’ shares have advanced by an impressive 68.1 per cent year-to-date.

The company reported that the MIA Group registered a profit before tax of €11.4m for the six months ended June 30, 2015, compared to €10.4m registered in 2014. Total revenue for the period under review amounted to €29.9m, an increase of 6.5 per cent over the same period in last year. Revenue from the airport segment increased by 8.4 per cent compared to the same period last year, while revenue from retail and property segment increased by 3.4 per cent. Meanwhile, earnings per share increased from €0.0491 to €0.0539.

The Directors are proposing the payment of a net interim dividend of €0.03 per share on all shares settled as at close of business on August 12, 2015 and payable by not later than September 4, 2015.

Simonds Farsons Cisk plc shares rallied by 6.1 per cent, closing at a new high of €5.25. The equity was negotiated across four transactions of 3,298 shares. Likewise, MaltaPost plc shares climbed by 4.5 per cent as a sole trade of 3,364 shares was struck, closing at an all-time high of €1.60.

Meanwhile, Mapfre Middlesea plc shares rose by a significant 12.4 per cent over 20 deals of 36,276 shares, closing €0.221 higher at €2.011.On Monday, the company reported that the total consideration payable to ALLCARE for the acquisition of the Allcare Business is composed of a base payment amounting to €1.1m and a deferred payment of up to a maximum of €500k. Through the acquisition of the Allcare Business, the company aims to enhance its portfolio of general insurance business, particularly in the motor, property and health classes of business. 

Medserv plc shares traded flat at €2.37 as a sole transaction of 2,400 shares was struck. The Board of Directors of the company is scheduled to meet on August 27, 2015 to consider and approve the unaudited interim financial statements of the company for the six months ended June 30, 2015.

The other non-movers for the week were Grand Harbour Marina plc, Loqus Holdings plc and 6pm Holdings plc shares having closed unchanged at €0.945, €0.121 and £0.76 respectively.

Malita Investments plc shares advanced by €0.03 or 3.3 per cent across six trades of 28,100 shares, closing at €0.93. The company reported that it has   registered a profit before tax of €10.7m for the six months ended June 30, 2015, compared to €8.2m registered in 2014. Revenue for the period under review amounted to €3.5m, an increase of 2.6 per cent from last year. Meanwhile, earnings per share increased to €0.0775 from €0.0476.

The Board of Directors also declared the payment of a net interim dividend of €0.00936 per share, payable on September 11, 2015 to holders of Ordinary A and Ordinary B shares on the company’ share register as at August 10, 2015.

Tigne Mall plc shares edged 0.6 per cent higher across six transactions of 41,000 shares, closing at €0.87. On the other hand, Plaza Centres plc shares slipped by one per cent over five trades of 63,500 shares, to close at €0.95.

RS2 Software plc shares swayed between a weekly high of €2.25 and a low of €2.15, to ultimately close the week 2.7 per cent lower at €2.19. The I.T. equity was negotiated across 26 trades of 102,515 shares.  

International Hotel Investments plc shares fell by a further3.5 per centover nine trades of 65,571 shares, closing at €0.806. On a positive note, MIDI plc shares edged 1.5 per cent higher as three deals of 30,000 shares were struck, to close at €0.345.

In the corporate bond market turnover amounted to €918,302.  A total of 31 issues were active of which 15 appreciated in value, six declined and 10 closed unchanged. The 6% Medserv plc Sec. Grntd € Notes 2020-2023 S1 T1 headed the list of fallers having declined by 1.1 per cent, to close at €110.01.6PM Holdings plc announced on Tuesday that the issue of €13m 5.1% Bonds 2025 was oversubscribed by the company’s shareholders and hence, the intermediaries offer did not take place.

In the sovereign debt market 25 issues were active of which eight decreased, 16 advanced and one closed unchanged. The 3.75% MGS 2015 (IV) was the most liquid issue having witnessed a turnover of €1.5m, while the 4.3% MGS 2033 (I) was the best performer closing 1.4 per cent higher at €128.30.