The Malta Stock Exchange (MSE) added to last week’s negative performance as it stumbled by a further 1.54 per cent, to close the four-day trading week at 3,495.698 points. Activity was spread across 15 equities of which seven declined, four appreciated and another four closed unchanged with turnover in the equity market reaching €1.19m. Banking equities were the main contributors to this week’s decline as Lombard Bank Malta plc (Lombard) was the worst performing equity for the week, while Loqus Holdings plc (Loqus) headed the list of gainers.
Bank of Valletta plc shares fell by €0.03 or 1.3 per cent as 111 trades of 215,270 shares were struck, closing at €2.22. Similarly, HSBC Bank Malta plc shares dropped by 1.2 per cent as 30 trades of 63,233 shares were negotiated, to close €0.03 lower at €2.40. Likewise, Lombard shares took a four per cent pounding over two transactions of 150,825 shares, closing €0.07 lower at €1.70. On a positive note, FIMBank plc shares edged 0.2 per cent higher on Tuesday, as 4,208 shares changed ownership across a single deal, closing at $0.842.
In the I.T. industry, 6PM Holdings plc (6PM) shares dipped by 1.4 per cent over three transactions of 7,000 shares, to close at £0.71. In line with its expansion plans, the company opened an office in Limerick, Ireland. Six-PM Health Solutions (Ireland) Limited has been set up through a joint venture between 6PM and Mr Anthony O’Carroll. 6PM owns 70 per cent of the equity while Mr O’Carroll owns the remaining 30 per cent in this new joint venture. 6PM Ireland will be inheriting all of the business activity that was previously delivered by Medrex Systems (Ireland) Limited – a medical records supply company based in Ireland. Six-PM Health Solutions (Ireland) Limited is expecting to start delivering business value immediately as service contracts are already in hand.
Meanwhile, both Crimsonwing plc and RS2 Software plc (RS2) shares closed the week unchanged at €0.81 and €2.41 respectively. The former witnessed three trades of 26,315 shares, while RS2 traded five times as 11,000 shares changed hands. The other non-movers for the week were Medserv plc and Malita Investments plc as they both traded flat at €1.30 and €0.54 respectively.
GO plc shares drifted 1.9 per cent lower, despite having reached a weekly high of €2.09. The telecommunications equity witnessed 22 trades of 54,030 shares, to ultimately close at €2.05. The board of directors of the company approved the financial results for the year ended December 31, 2013. The group registered a profit before tax of €15.6 million, compared to €26.8 million registered in 2012. However, the 2012 results included a one-off gain of €11.37 million following the disposal of a plot of land at Qawra. Revenue for the period amounted to €122.1 million, a decline of four per cent.
The Board of Directors further resolved to recommend at the Annual General Meeting (AGM) – on May 6, 2014 – the payment of a final net dividend of €0.07 per share. The final dividend will be paid on May 9, 2014 to all shareholders on the shareholders’ register as at April 4, 2014.
The Board of Directors of Plaza Centres plc also approved the company’s audited financial statements for the year ended December 31, 2013. The company registered a profit after tax of €792,222, compared to €821,496 registered in 2012. Revenue for the period amounted to €2.17 million, a decline of 3.8 per cent from 2012. At the forthcoming AGM – scheduled for May 30, 2014 – the Board is recommending approval of the payment of a final net dividend of €673,389 or €0.0238 net per share. The final net dividend will be paid on June 5, 2014 to shareholders on the company’s share register at close of business on April 30, 2014.
Malta International Airport plc shares closed at yet another record high, as it advanced by 0.4 per cent across nine deals of 38,985 shares, closing at €2.26. Meanwhile, Loqus Holdings plc shares surged by 15.9 per cent on Monday, as three transactions of 2,500 were processed, to close at €0.095.
On the downside, International Hotel Investments plc shares took a 4.7 per cent fall shedding €0.041 of their share price, to close at €0.839. The hoteliers’ equity was negotiated across three trades of 30,000 shares.
The share price of Simonds Farsons Cisk plc slipped by 0.3 per cent as 2,167 shares exchanged hands on Tuesday, to close at €2.99. Meanwhile, Grand Harbour Marina plc was the least active equity as one trade of a mere 500 shares was dealt, closing minimally higher at €1.82.
In the corporate bond market turnover totalled to €841,664 across 23 issues, of which ten gained ground, two decreased and 11 closed unchanged. The recently issued 6% AX Investments plc 2024 traded for the first time this week, already locking in a four per cent gain. Meanwhile, in the corporate bond market activity was spread over 27 issues, the majority of which registered a decline in their value. However, the newly issued 4.45% MGS 2032 (II) r rallied by 2.2 per cent on its first trading days. The 3.75% MGS 2015 (VI) was the most liquid issue for the week with turnover reaching €10.5 million.
This article which was compiled by Jesmond Mizzi Financial Advisors Limited, does not intend to give investment advice and the contents therein should not be construed as such. The Company is licensed to conduct investment services by the MFSA and is a Member of the Malta Stock Exchange and a member of the Atlas Group. The directors or related parties, including the company, and their clients are likely to have an interest in securities mentioned in this article. For further information contact Jesmond Mizzi Financial Advisors Limited at 67, Level 3, South Street, Valletta, or on Tel: 21224410, or email info@jesmondmizzi.com.