The Malta Stock Exchange index erased last week’s positive performance as it declined by 0.75 per cent, to close at 3,302.525 points.
Activity was spread across 15 equities as gainers, fallers and non-movers all tallied at five reaching a total turnover of €1.15 million.
FIMBank plc shares were this week’s best performers, while International Hotel Investments plc shares headed the list of fallers.
Bank of Valletta plc shares managed to recoup some of the recent losses registered as they appreciated by €0.04 or two per cent across the highest volume this week of 156,271 shares, to close at €2.09.
HSBC Bank Malta plc shares fell by 1.1 per cent across 37 deals of 103,047 shares, closing at €2.01.
Lombard Bank Malta plc shares traded flat at €1.465 as a sole transaction of a mere 54 shares was struck. The board of directors will meet on August 20 to consider and approve the group’s and the bank’s financial statements for the half year ended June 30, 2014.
FIMBank plc shares advanced by 6.9 per cent on a single trade of 200 shares, to close $0.048 higher at $0.748. The board of directors will meet on August 5 to consider and approve the consolidated financial statements for the half-year ended June 30, 2014.
Go plc shares were active across 20 deals of 81,167 shares, and closed 0.5 per cent higher at €2.21. On Wednesday, the company reported that the board of directors unanimously decided to inform Forgendo Limited that Go has opted to exercise its option of converting into equity the interest-free loan which it had made available to Forgendo in January which was used in Forengo’s participation in the share capital increase in Forthnet SA.
Malta International Airport plc shares registered a €0.055 gain as four deals of 13,500 shares were negotiated, closing at €2.275. The board of directors is scheduled to meet on July 30 to approve the company’s interim financial statements for the six months ended June 30, 2014 and to consider the payment of an interim dividend.
In the IT industry, Crimsonwing plc shares traded unchanged at €0.81 across one trade of 8,198 shares, to close at €0.81. The company reported that the board of directors is scheduled to meet on July 17 to consider and, if thought fit, approve the annual financial statements of the company for the year ended March 31, 2014.
RS2 Software plc shares slipped by 3.8 per cent as nine deals of 118,459 shares were struck, closing €0.099 lower at €2.50.
On Thursday, International Hotel Investment plc shares dropped by a significant 7.9 per cent as 1,861 shares changed ownership across two deals, to close at €0.70.
Malita Investments plc shares declined by 1.8 per cent over three transactions of 112,000 shares, to close at €0.55.
Medserv plc shares added on to last week’s positive performance with a 1.6 per cent increase on a single deal of 20,000 shares, to close at €1.27.
Plaza Centres plc shares shed 5.1 per cent on one trade of a scant 400 shares, to close €0.03 lower at €0.56.
MIDI plc shares traded unchanged at €0.24 over two deals of 86,214 shares. The board of directors is scheduled to meet on August 26 to consider and approve the half-yearly financial report covering the six months ended June 30, 2014.
The other non-movers for the week were Simonds Farsons Cisk plc and Loqus Holdings plc shares which ended the week at €2.95 and €0.105 respectively. The former witnessed two transactions of 1,500 shares, while the latter was active across one trade of 1,004 shares.
In the corporate bond market, turnover amounted to €1.15 million spread across 21 issues of which 13 gained ground, two decreased and six closed unchanged.
The newly listed 5.3% Mariner Finance plc Unsecured 2024 bond was the best performer as it rallied by 2.6 per cent.
On Tuesday, the new €25 million 5% Tumas Investments plc unsecured bonds due to mature in 2024 was approved by the Listing Authority of the Malta Financial Services Authority. The bonds will have a nominal value of €100 per bond and will be issued at par. These bonds are guaranteed by Spinola Development Company Limited.
The company will be granting holders of the €25 million 6.25% Tumas Investments plc bonds 2014-2016 as at June 30, 2014 preference to subscribe to the new bonds by exchanging their maturing bonds with the new bonds. Holders of the €25 million 6.2% Tumas Investments plc bonds 2017-2020 as at June 30 2014 will also be offered the opportunity to invest in the new bonds in respect of the balance unsubscribed to by holders of the maturing bonds. No preference or guarantee of an allotment can be given in respect of applications by holders of the maturing bonds in excess of the maturing bonds held at June 30, 2014 or by holders of the 2017-2020 bonds.
In the sovereign debt market 26 issues were active of which hort-dated issues edged lower and long-term issues climbed in value – total turnover reached €13.7 million.
The recently issued 4.3% MGS 2033 (I) r was the most liquid issue as it witnessed a turnover volume of over 3.3 million nominal.
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: 2122 4410, or e-mail info@jesmondmizzi.com.