MSE stable while global equity markets slump
MSE Trading Report for week ending January 15, 2016
The MSE Index extended the previous week’s gain by a further 0.15 per cent, to close at 4,485.89 points, despite steep declines in global equity markets. Activity was spread across 20 equities of which nine gained ground, five fell and six closed unchanged. Turnover amounted to €1.9m.
Bank of Valletta plc shares appreciated by €0.061 or 2.8 per cent when one takes into consideration the one for 12 bonus share issue which was allotted to eligible shareholders. The banking equity was negotiated across 94 trades of 254,670 shares, to close at €2.23.
HSBC Bank Malta plc shares declined by 3.6 per cent as 128,888 shares were dealt, closing €0.064 lower at €1.731. Similarly, FIMBank plc shares declined by 4.6 per cent as 17,000 shares changed hands, to close at $0.63.
Lombard Bank Malta plc shares recouped by €0.035 or 1.4 per cent over two transactions of 1,700 shares, to close at €2.485. Similarly, the share price of Mapfre Middlesea plc increased by 1.3 per cent as six deals of 14,278 shares were struck, closing €0.03 higher at €2.33.
Malta International Airport plc (MIA)shares oscillated between a weekly high of €4.31 and a low of €4.15, to ultimately close unchanged at €4.30. The local airport operator’s shares were active on 28 trades of 60,970 shares. MIA announced that the Board of Directors shall meet on February 24, 2016 to consider and approve the Company’s Financial Statements for the financial year ended December 31, 2015 and to consider the payment of a dividend.
In the I.T. sector RS2 Software plc shares continued to triumph having appreciated by 2.5 per cent over 28 deals of 88,714 shares, to close at a record high of €3.33.
Meanwhile, Loqus Holdings plc shares traded flat at €0.12 over a sole transaction of 1,000 shares. Likewise, 6PM Holdings plc (6PM) shares closed unchanged at £0.70 as 4,154 shares changed ownership. Last Thursday, the companyannounced that by virtue of an agreement dated January 1, 2016, the company has agreed to acquire 609,501 Ordinary A Shares in emCare360 Limited from CareMalta Group Limited, having a total consideration €549,501. Following the acquisition, 6PM will be the sole shareholder of emCare360. The latter is in the business of electronic and mobile care. Through a central repository emCare360 manages an Electronic Medical Record. emCare360 has been responsible for the Telecare Service in Malta in collaboration with GO plc, contributed to the launch of Telecareplus, introduced a Vital Signs Monitoring service used in Malta, Italy and the UK and has also launched a mobile service.
The telecommunications provider GO plc sustained its recent winning streak having gained by €0.041 or 1.3 per cent, to close at €3.10. The equity witnessed a total of 21 transactions of 41,551 shares. Likewise, Malta Properties Company plc shares advanced by 3.6 per cent across 31 deals of 156,180 shares, closing at €0.57.
On a negative note, MaltaPost plc shares fell by €0.041 or 2.1 per cent over seven deals of 17,936 shares, closing at €1.899. All resolutions on the agenda were approved during the Annual General Meeting held on January 15, 2016, including the resolution to declare a final ordinary net dividend of €0.04 per share, which represents a final net payment of €1,452,269 either in cash or by the issue of new shares at the discretion of the shareholders.
International Hotel Investments plc shares declined by 1.3 per cent over 11 transactions of 72,798 shares, closing at €0.74. Similarly, GlobalCapital plc shed ten per cent of its share price, as nine transactions of 7,875 shares were negotiated, to close at €0.45.
Tigne Mall plc shares edged 1.1 per cent higher as three trades of 27,000 shares were executed, closing at €0.95. On the other hand, Plaza Centres plc shares closed unchanged at €1 as four deals of 12,800 shares were negotiated.
Grand Harbour Marina plc shares rallied by three per cent over a sole transaction of 2,000 shares, to close at €1.03. Likewise, MIDI plc shares rose by 3.7 per cent across nine trades of 159,300 shares, closing at €0.363.
The other non-movers for the week were Simonds Farsons Cisk plc and Malita Investments plc shares, closing unchanged at €6 and €0.95 respectively. The former was negotiated across seven trades of 6,774 shares, while the latter witnessed two deals of 20,000 shares.
In the corporate bond market 25 issues were active of which 12 appreciated, five declined and eight closed unchanged. Turnover totalled €842,411. The 5.5% Mediterranean Investments Holding plc Unsecured € 2020 headed the list of gainers having increased by 3.2 per cent, to close at €106.30, while the 4.5% Hili Properties plc Unsecured € 2025 declined by 1.9 per cent, to close at €106.
On Friday, Medserv plc announced that the offer to Intermediaries for the subscription of the €30,000,000 Unsecured Bonds (comprising 4.5% Euro Bonds and/or 5.75% USD Bonds) as well as the majority shareholders’ rights issue was oversubscribed. Consequently, there will not be an offer to the general public. The Company outlines that the subscriptions for the Majority Shareholders’ Rights and the USD denominated issue shall be allocated in full while 76.26% will be allotted to subscribers of the EUR denominated security.
Moreover, on the back of the positive subscription and the exercise to date by shareholders of their rights under the Rights Issue, the Company announced that it has sufficient resources to satisfy the payment of the acquisition price of the METS Group.
In the sovereign debt market turnover totalled €3.8m spread across 24 issues of which 11 decreased minimally, 12 advanced marginally and one closed unchanged. The 4.25% MGS 2017 (III) was the most liquid issue having witnessed a turnover of €1.4m.