Seven equities lift MSE Index higher
MSE Trading Report for week ending October 16, 2015
The MSE Index partially recovered last week’s 0.70 per cent loss as it inched 0.17 per cent higher to close at 4,328.164 points. Total turnover amounted to €742k as 10 equities were traded, of which, seven gained in value, two closed in the red while one closed unchanged.
Simonds Farsons Cisk plc shares headed the list of gainers as its share price advanced by 3.5 per cent to close at an-all time high of €6.00, albeit on thin volume of eight trades of 3,472 shares. The other equity to close the week at an-all time high was MaltaPost plc as it closed at the €1.79 price level as five deals of 7,674 shares were concluded.
International Hotel Investments plc shares also recorded significant gains as three deals of 5,000 shares pushed the share price up by 2.4 per cent after adjusting for a three per cent bonus share issue and closed at €0.79.
Elsewhere, Malta International Airport plc shares registered an increase, after three consecutive weeks of losses, as nine transactions of 13,710 shares pushed the share price up by 1.6 per cent to close at €3.89. This increase came as a result of the positive traffic results which were published by the Company late last week and news that a major low cost airline will be increase the number of routes to Malta.
In the banking sector, Bank of Valletta plc shares added to last week’s 0.4 per cent loss as 36 transactions of 99,013 shares dragged the share price down by 1.7 per cent to close at €2.34. Meanwhile, HSBC Bank Malta plc also closed in the red as its share price shed 0.6 per cent to close at €1.80 over the highest turnover of the week which totalled to €248k or 33.4 per cent of total turnover.
On the other hand, Lombard Bank Malta plc shares closed in the black for the third consecutive week as it strengthened by a further 0.9 per cent over eight deals of 19,400 shares to close at a fresh four year high at €2.24.
Elsewhere, GO plc shares pared last week’s losses as it inched 0.3 per cent higher over 10 trades of 22,550 shares to return to the €3.459 price level. On Friday, the company announced that the Board of Directors is scheduled to meet on the October 19, 2015 in order to consider the declaration of an interim dividend that would be paid ‘in kind’, by means of a distribution of the Company’s entire shareholding in Malta Properties Company p.l.c. on a pro rata basis to the shareholders registered on the Company’s Share Register at the Central Securities Depository of the Malta Stock Exchange as at the close of business on the October 23, 2015.
The other gainer for the week was Malita Investments plc as its share price gained a mere 0.1 per cent over two trades of 5,000 shares to close at €0.881.
The non-mover for the week was Medserv plc as its share price closed at €3.095 after 4,000 shares changed hands over four trades. During the Extraordinary General Meeting (EGM) held on October 12, 2015, the shareholders approved the disclosure of information in relation to Medserv Group of Companies, including unpublished price-sensitive information, as may be necessary to allow any bona fide offeror and its advisers to make, confirm, withdraw or modify any bona fide offer made to Medserv p.l.c.
In the corporate bond market, 25 issues were traded, of which 12 advanced, six declined in value while seven closed unchanged – amounting to total turnover of €605k, 34 per cent down from the previous week. The best performer was the 5.8% International Hotel Investments plc 2021 as it advanced by 2.4 per cent over three deals of 7,100 nominal to close at €108.50. Conversely, the 6% Island Hotels Group Holdings plc € 2024 slipped by 3.6 per cent as a single trade of 200 nominal pushed the price down to €107.
On Wednesday, Hili Properties plc announced the allocation policy applied to the €37 million 4.5% Unsecured Bonds 2025 Bond Issue, which was significantly over-subscribed.
It was a positive week on the sovereign debt front as the long dated stocks gained in value in line with their European counterparts. Moreover, total turnover more than doubled as it amounted to €9.6m as 19 stocks were active, of which, 14 closed higher while five closed lower. The best performer was the 4.45% MGS 2032 (II) as it increased by 1.1 per cent over seven transactions of 153,000 nominal to close at €132.23.
Significant turnovers was registered in the 5% MGS 2021 (I) and the 4.3% MGS 2022 (II) with turnover reaching €3.5m and €3.7m respectively.
During the week, the Treasury reported that a total of €231m was received by the Treasury for the new Malta Government Stock issues. The amount issued was of €120m subject to an over-allotment option of €60m.The Treasury announced that all subscriptions by the retail investors were accepted in full.