Minimal movements across local equities

No significant movements were recorded across local equities during this morning’s trading session with the MSE Share Index easing minimally lower to 3,314.638 points.

The equity of GO plc was the sole positive performer today as its share price inched marginally higher to regain the €1.40 level across 5,000 shares in anticipation of a board of directors meeting scheduled for today week to consider and approve the 2012 full-year results and also to consider the declaration of a dividend.

On the other hand, following yesterday’s 1.4% drop, the share price of Bank of Valletta plc drifted a further 0.2% lower to €2.26 on volumes of 16,317 shares.

Similarly, MIDI plc retreated minimally to close at the 31c4 level across two trades totalling 36,000 shares. A single trade of 1,000 Island Hotels Group Holdings plc was transacted at the 64c8 level representing a 0.2% drop from the previous close.

Meanwhile, HSBC Bank Malta plc held on to the €2.75 across 14,330 shares on the last day for the entitlement to the final gross dividend of 7c9 per share. The shares turn ex-dividend as from tomorrow. The final dividend will be paid on April 27 subject to shareholders approval at the annual general meeting on April 18.

The 2012 financial results of Plaza Centres plc, published this morning, failed to generate any trades in its shares.

The company announced a 2.4% increase in revenue to €2.25 million despite a dip in occupancy to 84% due to the vacation of certain office space.

Nonetheless, the increase in income was offset by marginal increases in various cost items including depreciation, net interest expense and taxes, leading to a net profit figure of €0.82 million representing a 1.7% drop from the previous year’s profitability.

The decline in profits was reflected in the final net dividend of 2c47 per share compared to the 2011 net dividend of 2c51 per share.

The dividend will be paid on June 5 (subject to shareholder approval at annual general meeting on May 31) to all shareholders as at close of trading on April 26.

On the bond market, the Rizzo Farrugia MGS Index moved 0.1% higher to regain the 1,011.241 points level as Eurozone yields drifted back to the 1.46% level following weak demand and higher borrowing costs at an Italian debt auction. Meanwhile, the Malta Stock Exchange announced that trading in the two new MGS’s will commence as from tomorrow.


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