MSE Index succumbs to selling pressure
MSE Trading Report for week ending December 18, 2015
The MSE Index declined by 1.28 per cent, to close at 4,429.066 points. Activity was spread across 15 equities of which ten fell, three gained ground and two closed unchanged as turnover totalled €2.3m.
FIMBank plc shares headed the list of fallers having decreased by 7.8 per cent as 10 deals of 98,065 shares were struck, closing $0.054 lower at $0.64. In the same sector, HSBC Bank Malta plc shares slipped by a further 2.3 per cent over 26 trades of 80,440 shares, to close at their weekly low of€1.74.
On the other hand, Lombard Bank Malta plc shares sustained their recent winning streak by a further €0.075 or 3.1 per cent across the highest turnover for the week worth over €1m, to close at €2.485.
Meanwhile, Bank of Valletta plc (BOV) shares oscillated between a weekly high of €2.335 and a low of €2.295, to ultimately close unchanged at €2.33. The banking equity witnessed 54 trades of 169,421 shares. At the bank’s Annual General Meeting (AGM), all of the resolutions on the agenda were approved. As a result, shareholders have received a gross final dividend of €0.085 per share. Moreover, €30m from the Company’s reserves are to be allotted in the form of one bonus share for every 12 shares held, to shareholders appearing on the shareholders’ register as at close of business on January 15, 2016.
The other non-mover for the week was Tigne Mall plc having traded flat at €0.965 across three deals of 4,000 shares.
The share price of RS2 Software plc continued to appreciate by €0.08 or 2.6 per cent as 14 trades of 66,160 shares were negotiated, to close at yet another record high of €3.175. Conversely, Simonds Farsons Cisk plc shares eased 0.8 per cent from their all-time high of €6.40 after five deals of 9,969 shares led to a €0.05 decline, to close at €6.35.
Meanwhile, Mapfre Middlesea plc shares fell by €0.14 or 6.1 per cent as 1,288 shares changed hands over two deals, to close at €2.15. Similarly, International Hotel Investments plc shares declined by 2.6 per cent as 4,194 shares changed ownership, closing at €0.78.
On a positive note, GO plc shares fully erased the previous week’s loss having gained 1.7 per cent as 15 transactions of 41,162 shares were executed, closing €0.05 higher at €2.95. Malta Properties Company plc shares dipped two per cent lower as 41 deals of 310,080 shares were executed, to close at €0.49.
Malta International Airport plc shares swayed between a weekly high of €4 and a low of €3.84, to finally end the week 2.5 per cent or €0.10 lower at €3.90. The local airport operator’s shares were negotiated across 21 transactions of 35,633 shares.
MIDI plc shares closed 1.4 per cent lower over four trades of 10,510 shares, closing at €0.36. Likewise, Medserv plc shares fully erased last week’s gain having decreased by 1.2 per cent, to close at €2.095.
On Monday, Loqus Holdings plc shares witnessed a sole deal of a mere 500 shares, closing at €0.12. The company’s Annual General Meeting (AGM) is scheduled for January 28, 2016.
During the week, Santumas Shareholdings plc announced that during the AGM on December 11, 2015 the shareholders approved a bonus issue of one share for every 10 shares held. All shareholders on the Company's share register as at close of business on January 8, 2016 will be entitled to the bonus issue. Moreover, the board of directors is scheduled to meet on December 28, 2015 to consider and approve the Interim Financial Statements for the six months ending October 31, 2015. The equity was not active this week.
In the corporate bond market turnover amounted to €539,950. A total of 29 issues were active of which 16 fell in value, nine appreciated and four closed unchanged. The 6% Simonds Farsons Cisk plc 2017-2020 was the worst performer having declined by 3.9 per cent, to close at €104.76.
BOV announced the allocation policy in respect of its Offer of 3.50% p.a. Subordinated Notes 2030. A maximum of €40m out of the €75m was reserved for Preferred Applicants, and €35m for the general public, without priority or preference. All 946 preferred applications received under Series 1 were allocated a minimum of €25,000, while all applications of up to €50,000 received under Series 2 subscription were allotted in full. From the unsatisfied amounts, an additional maximum of €8,000 was allocated to preferred applicants. In the General Public offer, all of the 729 applications in the Series 1 Subscription were allocated a minimum of €25,000, while all of the 515 applications of up to €50,000 in the Series 2 Subscription were allotted in full. An additional amount of a maximum of €13,300 was allotted to applications with unsatisfied amounts. Partially unsatisfied applications in respect of Preferred Applicants were allocated an additional aggregate amount of €1,269,000 from the General Public offer.
In the sovereign debt market 23 issues were active of which 14 slipped, eight increased and one closed unchanged as turnover totalled €2.9m. The 5.2% MGS 2031 (I) headed the list of gainers having increased by 0.8 per cent, to close at €142.61. Meanwhile, the 4.1% MGS 2034 (I) was the most liquid issue with a turnover worth €601,314.