Banking equities recoup

MSE Trading Report for week ending December 4, 2015

The MSE Index partially erased the previous week’s 1.4 per cent gain by 0.27 per cent, to close at 4,467.85 points. Turnover totalled €2.9m spread across 15 equities of which six gained ground, seven fell in value and two closed unchanged.

FIMBank plc shares headed the list of gainers having rallied by $0.065 or 11.1 per cent as 22 trades of 450,992 shares were struck, closing at $0.65. Similarly, Lombard Bank Malta plc shares increased by a further €0.13 or 5.8 per cent over 20 transactions of 150,779 shares, to close at €2.38.

Bank of Valletta plc shares oscillated between a weekly high of €2.32 and a low of €2.27, to ultimately close at €2.295. The equity registered a 1.1 per cent gain as 73 trades of 220,386 shares were executed. On a similar note, HSBC Bank Malta plc shares partially erased the previous week’s losses having recouped by 0.5 per cent over 40 deals of 97,327 shares, closing a €1.799.

Simonds Farsons Cisk plc shares rallied to a new high of €6.37, having appreciated by €0.17 over six transactions of 34,602 shares.   Conversely, RS2 Software plc shares shaved 0.4 per cent from its record high having witnessed 25 deals of 136,913 shares, to close at €3.087.

Medserv plc shares declined by 1.2 per cent across 10 trades of 11,050 shares, closing €0.025 lower at €2.10. During the extraordinary general meeting held last Thursday,  shareholders approved the acquisition of Middle East Tubular Services Limited, Middle East Tubular Services (Iraq) Limited and Middle East Tubular Services LLC, FZC. Moreover, shareholders also approved the increase of the authorised share capital of the company to €12million divided into 120 million shares of €0.10 each share and to authorise the board of directors to issue and allot the unissued equity securities in the Company up to the maximum amount set by the authorised share capital and to restrict or withdraw the statutory pre-emption rights of the Company’s shareholders for as long as the said board remains authorised to issue and allot equity securities in terms of this resolution.

GO plc shares registered a €0.05 or 1.7 per cent decline over 16 trades of 116,394 shares, to close at €2.95. Similarly, Malta Properties Company plc shares partially erased the previous week’s significant gains having declined by 22.2 per cent, closing at €0.56. The equity was active on 110 deals of 616,626 shares.

The non-movers for the week were Malta International Airport plc and MIDI plc having closed flat at €4.01 and €0.365 respectively. The former witnessed 16 trades of 39,183 shares, while the latter was executed across two transactions of 30,130 shares.

On Friday,MaltaPost plc announced its Preliminary Statement of Annual Results for the financial year ended September, 30 2015. The company achieved a profit before tax of €3.38m, compared to €2.74m registered in 2014. Revenue for the period under review amounted to €25.7m, an increase of 8.4 per cent over the same period in 2014. The board of directors has resolved to recommend for the approval at the annual general meeting the payment of a final net dividend payment of €0.04 per nominal €0.25 share, to be received as cash or new shares, at the discretion of shareholders. The attribution price of the said shares has been established at €1.80 per share. The equity was not active this week.

Mapfre Middlesea plc shares witnessed the worst performance this week having stumbled by seven per cent across six transactions of 4,934 shares, closing €0.16 lower at €2.12. International Hotel Investments plc shares followed suit having declined by three per cent over a sole trade of 12,000 shares, to close at €0.821.

Malita Investments plc shares fully erased the previous week’s negative performance having advanced by 3.3 per cent to close at €0.95. Conversely, Tigne Mall plc shares slipped by 2.1 per cent as 24,584 shares changed ownership, to close at €0.94.

In the corporate bond market activity was spread across 25 issues of which six fell, seven increased and 12 closed unchanged. Turnover amounted to €742,384. The 6% Island Hotels Group Holdings plc € 2024 was the best performer having appreciated by 1.8 per cent, to close a €111, while the 6.2% Mizzi Org. Fin plc € 2016-2018 registered the highest decline of 1.8 per cent, closing at €103.60.

In the sovereign debt market turnover totalled €4.1m. A total of 21 issues were active, of which 19 fell in value and three closed unchanged. The 3% MGS 2040 (I) headed the list of fallers having declined by 2.8 per cent, closing at €107.03. The 2.3% MGS 2029 (II) FI Oct 15 r was the most liquid issue having witnessed a turnover of €1.4m.