The Malta Stock Exchange index partially reversed last week’s positive returns with a 0.89 per cent decline, to close at 3,327.558 points.
A total of 12 equities were negotiated throughout this four-day trading week.
The two leading banks were the only fallers for the week, six equities appreciated in value while four closed unchanged.
HSBC Bank Malta plc shares were the worst performers as they declined by €0.09 or 4.4 per cent as 21 deals of 51,685 shares were negotiated, to close at its weekly low of €1.95 – down from a high of €2.04.
Bank of Valletta plc shares dropped by 0.9 per cent over 37 trades of 68,522 shares, closing €0.02 lower at €2.24.
Meanwhile, Lombard Bank Malta plc shares traded flat at €1.60 across a single transaction of 6,493 shares.
RS2 Software plc shares triumphed this week as they appreciated by a significant €0.06 or 2.2 per cent as 17 deals of 60,892 shares were struck. The IT equity ended this week at a record high of €2.85 – registering four weeks of consecutive gains and marking a 32.4 per cent gain this year.
On a similar note, Go plc shares extended their recent positive performance gaining a further 0.8 per cent to close at €2.51 – a price last reached in July 2008. The telecommunications equity was active across 21 deals of 193,754 shares on the highest turnover this week of €484.5k.
A single trade of 1,550 shares in Simonds Farsons Cisk plc pushed its share price up by €0.03 to close 1.1 per cent higher at €2.74. The board of directors of the company is scheduled to meet on September 24 to consider and approve the company’s financial statements for the six month period ending July 31 and to consider the declaration or otherwise of an interim dividend on all ordinary shares held by shareholders on the register as at October 3, 2014.
Malta International Airport plc shares strengthened by 1.3 per cent as 58,400 shares changed ownership over 10 deals. The local airport operator’s shares traded at their all-time high of €2.35 on Wednesday and Thursday, but ultimately closed at €2.33.
Plaza Centres plc shares partially erased last week’s negative performance as they recouped by 1.4 per cent as a single transaction of a scant 84 shares was struck, closing at €0.598. In the same industry, Tigne Mall plc shares were negotiated across the highest volume of 471,130 shares and closed unchanged at €0.515.
The other non-movers for the week were International Hotel Investments plc and Medserv plc as they traded flat at €0.64 and €1.275. The former witnessed three deals of 6,625 shares, while one transaction of 3,834 shares was executed in Medserv plc. Meanwhile, Middlesea Insurance plc shares climbed by 1.1 per cent over six trades of 6,019 shares, to close at its weekly high of €0.94.
During the week, in its interim directors’ statement, Island Hotels Group Holdings plc reported that all areas of the group are performing well, with the operating results of the five star hotels and the vacation ownership side of the operation continuing to exceed expectations.
The event and retail catering elements of the business are in line with forecasts. The directors expect that, barring any unforeseen events in the last two months of the financial year, the group’s aggregate operating profits will be better than those registered last year. The equity was not active this week.
In the corporate bond market turnover amounted to €1.5 million spread across 16 issues of which five strengthened, three lost ground and eight closed unchanged. The 6.25% Corinthia Finance plc € 2016-2019 was the most liquid as it witnessed a turnover value of over €1 million, leading to a marginal decline of €0.01, to close at €102.50. The 7.5% Mediterranean Investments Holding plc € 2015 bond recouped 5.3 per cent to close at €100.
United Finance plc announced that its board of directors has resolved by virtue of a resolution to redeem the 6.75% Bonds 2014-2016. Meanwhile, the company has submitted an application to the listing authority of the Malta Financial Services Authority for the approval of a new bond issue, the proceeds of which will be used to finance the redemption of the outstanding maturing bonds. It is the intention of the company to grant holders of maturing bonds preference to subscribe to the bonds to be issued pursuant to such new bond issue.
From the sovereign debt front, 25 issues were active of which nine declined, 15 gained ground and the 4.3% MGS 2022 (II) closed unchanged at €117.19. Meanwhile, the recently issued 4.1% MGS 2034 (I) r was the most liquid issue as it witnessed a turnover value of over €3m nominal. On the other hand, the 4.45% MGS 2032 (II) was the best performing issue for the week as it advanced by 0.6 per cent, to close at €111.49.
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.