The Malta Stock Exchange extended last week’s positive performance as it appreciated by a further 1.05 per cent, to close at 3,496.419 points, reducing the year to date loss to five per cent.
A total of 16 equities were active over the week, of which eight edged higher, seven fell and one remained unchanged.
The top performing equity was Loqus Holdings plc, while GlobalCapital plc shares recorded a hefty loss.
Malta International Airport plc shares appreciated by 0.9 per cent over the week as 17 trades of 57,034 shares were negotiated, to close €0.02 higher at an all-time high of €2.32.
Yesterday morning, International Hotel Investments plc announced that the board of directors approved the payment of a net interim dividend of €0.03 per share. This is a first for the company since the company’s initial public offering. The interim dividend will be paid on May 16, 2014 to shareholders that are on the company’s register of shareholders as at May 2, 2014.
IHI also reported that NLI Holdings Limited – 50 per cent owned by IHI – has sold 11 of its 12 residential apartments adjoining the Corinthia Hotel in London. The remaining apartment, the penthouse, is being retained by NLI. Following this positive announcement, IHI’s share price soared by €0.045 or 5.7 per cent as six deals of 35,340 shares were struck.
Crimsonwing plc shares also rallied by a significant 7.5 per cent over a single transaction of 9,000 shares yesterday, closing €0.061 higher at €0.87.
In the banking sector, Bank of Valletta plc shares were the only positive performers. The equity was dealt across 55 trades of 110,444 shares, to close 1.8 per cent higher at €2.30 notwithstanding a spike of €2.42 registered on Tuesday. The board of directors is scheduled to meet on April 25, 2014 to consider and approve the interim financial statements for the six months ended March 31, 2014 and to consider and, if thought fit, declare a dividend.
Conversely, Lombard Bank Malta plc shares fell by 1.2 per cent across a single trade of 4,000 shares executed on Thursday, closing at €1.68.
Meanwhile, HSBC Bank Malta plc shares closed the week unchanged at €2.38 as the equity witnessed 36 transactions of 71,510 shares throughout the week.
GlobalCapital plc shares plunged by 25.1 per cent as five deals of 1,000 shares were struck on Wednesday, to close €0.201 lower at €0.599. The equity had been inactive since July 2012.
MIDI plc shares also sagged by 7.7 per cent to €0.24 over two transactions of 26,500 shares.
Plaza Centres plc and Tigne Mall plc shares rose by 5.9 and 1.9 per cent respectively.
The former witnessed six deals of 91,640 shares, to close at €0.625, while the latter was negotiated across seven trades of 350,500 shares, closing at €0.525.
The board of directors of Tigne Mall plc approved the audited financial statements for the year ended December 31, 2013 – to be submitted for approval at the forthcoming AGM on June 19, 2014. The board also recommends the payment of a final net dividend of €0.0125 per share to be paid on June 23, 2014 to shareholders on the company’s register at the Central Securities Depositary of the MSE as at close of business on May 20, 2014.
The company reported that it had registered a profit before tax of €1.9 million, compared to €1.1 million registered in 2012. Revenue amounted to €5.03 million, an increase of 10.5 per cent from 2012.
Meanwhile, Medserv plc shares fell by 2.3 per cent as seven trades of 71,700 shares were negotiated, to close €0.03 lower at €1.30, as yesterday the equity ex-dividend .
On a positive note, Loqus Holdings plc shares climbed by 10.5 per cent over a single transaction of 1,108 shares, closing at €0.105. In the telecommunications industry, Go plc shares edged 0.5 per cent higher across 19 deals of 62,385 shares, to close at €1.96.
Middlesea Insurance plc shares fell by 4.2 per cent as 4,586 shares changed ownership to close at €0.91.
Meanwhile, MaltaPost plc shares added on to last week’s declines as it slipped by a further 0.9 per cent over one deal of 2,000 shares, to close at €1.11.
Likewise, 6pm Holdings plc dipped by 0.7 per cent across two trades of 5,000 shares, closing at £0.705.
In the corporate bond market, 16 issues were active of which three slipped, six gained ground and seven closed unchanged. Total turnover amounted to €318,032.
Meanwhile, in the sovereign debt market, activity was spread across 23 issues, amounting to a turnover of €26 million. The 5.9% MGS 2015 (II) was the most liquid issue for the week as it witnessed a traded value of over €11 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, by e-mail on info@jesmondmizzi.com or or by phone on: 2122 4410.