The Malta Stock Exchange index added on to last week’s positive performance as it increased by 0.2 per cent, to close at 3,321.763 points.
A total of 11 equities were active of which three fell, five gained ground and three closed unchanged.
Tigne Mall plc shares registered the best performance for the week, while Bank of Valletta plc shares fell marginally as the equity turned ex-dividend yesterday.
Malta International Airport plc shares rallied to record highs as six transactions of 26,750 shares were struck, to close the week €0.07 higher at €2.40. In its interim directors’ statement released on Thursday, the company reported that no material events or transactions have taken place that would have an impact on the financial position of the company, such that they would require specific mention.
Both Malita Investments plc and Tigne Mall plc closed the week at their all-time highs as they soared by 3.5 per cent and 3.8 per cent respectively. The former witnessed three deals of 27,000 shares, to close at €0.60, while the latter was active across two trades of 31,000 shares, closing at €0.55.
Bank of Valletta plc shares were active across the highest turnover volume for the week of 160,977 shares. The banking equity closed in positive territory in the first three trading days of the week with a slight correction on Thursday to then drop by 1.75 per cent and close at €2.24 yesterday when the equity turned ex-div. Meanwhile, FIMBank plc shares traded flat at $0.63 on a single transaction of 1,000 shares.
HSBC Bank Malta plc fully erased last week’s negative performance as its share price appreciated by 0.5 per cent across 29 trades of 86,177 shares, to close at €1.97. After close of trading yesterday, the company announced in its interim directors’ statement that during July 1 until November 14, the bank registered a decline in profit before tax compared to the same period last year.
Middlesea Insurance plc shares slipped by 0.4 per cent as 4,000 shares changed hands over four trades, to close at €0.99. Similarly, Medserv plc shares dropped by 0.4 per cent as 4,900 shares changed ownership, closing at €1.325.
On a positive note, Grand Harbour Marina plc shares edged 0.5 per cent higher on one transaction of 425 shares, to close at €1.87.
International Hotel Investments plc shares traded flat over 12 trades of 55,400 shares, closingat €0.56.
MIDI plc shares also traded unchanged as three deals of 57,500 shares were processed, to close at €0.21. In its interim directors’ statement, the company noted that the development of the Q1 residential block has continued to progress in line with projected timelines and budgets. Meanwhile, the contract of works for the development of the T14 office block at Tigne Point has been awarded. Furthermore, works on the Q2 building have commenced, which apart from 60 apartments will also include a commercial offering on the ground floor. The company has also concluded the last remaining lease agreements in respect of all 10 shopping outlets at Pjazza Tigne.
In its interim Ddrectors’ statement released on Monday, Go plc reported that the group has continued to maintain market share, stable revenues, healthy levels of profitability and cash generation. The board of directors said it is satisfied that the group maintains the momentum required for it to implement its strategy of protecting profitability from core telecommunication operations while pursuing new growth opportunities, both locally and internationally, in the interest of shareholder value. The equity was not active this week.
After close of trading yesterday, Lombard Bank Malta plc announced that during the period commencing July 1, 2014 to date, no material events and/or transactions have taken place. The bank stated that the prevailing difficult market environment continues to condition banking sector performance. A number of factors are exerting pressure on domestic bank profitability namely – narrowing interest margins, reflecting record low investment yields and high levels of liquidity, and slow loan growth.
On the expenditure side, the growing burden of compliance and regulatory costs is having a negative impact on profitability. Furthermore, the new EU regulatory regime is also likely to result in more cautious bank lending policies and perceptions of risk, with inevitable consequences for the economy. Meanwhile, as was announced in August, an improved performance is expected from the bank’s subsidiary, MaltaPost plc.
Throughout the period covered by this announcement, Lombard Bank Malta plc continued to register high liquidity and capital adequacy ratios that comfortably exceed regulatory and prudential thresholds, while adhering to its traditionally cautious provisioning policy.
In the corporate bond market activity was spread across 28 issues of which 12 increased in value, five lost ground and 11 closed unchanged. Total turnover amounted to just under €1.2 million. The recently listed 5% Hal Mann Vella Group plc Secured Bonds € 2024 was the best performer as it advanced by 3.5 per cent in its first trading days, to close at €103.50.
Meanwhile, in the sovereign debt market turnover amounted to €19.8 million as 28 issues were active – 10 issues fell, 15 strengthened and three closed unchanged as all changes recorded were minimal. The 4.3% MGS 2033 (I) was the most liquid issue as it witnessed a turnover value of over €7.4 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: 2122 4410, or email info@jesmondmizzi.com.