The recent losing streak in the Malta Stock Exchange index persisted as it fell for the fourth successive week by 0.19 per cent, to close at 3,238.81 points. This negative trend was extended despite seven equities out of a total of 14 gained ground.
Declines in large capitalised equities such as Bank of Valletta plc, HSBC Bank Malta plc, Malta International Airport plc and Go plc contributed to this decline, while three other equities closed the week unchanged.
HSBC Bank Malta plc shares were the most active for the week as 43 deals of 174,984 shares were executed. The banking equity oscillated between a weekly high of €1.95 and a low of €1.90, at which it closed, registering a 0.78 per cent loss. The board of directors is scheduled to meet on February 23, 2015 to approve the group’s and the bank’s final audited accounts for the financial year ended December 31, 2014 and to consider the declaration of a final dividend to be recommended to the annual general meeting.
Similarly, Bank of Valletta plc shares slid 0.9 per cent or €0.02 as 56 trades of 141,248 shares were struck, to close at €2.18.
Conversely, Lombard Bank Malta plc shares edged 0.3 per cent higher as two trades of 9,000 shares were negotiated, closing at €1.755.
The best performer for the four-day trading week was Crimsonwing plc as its share price rallied by 7.8 per cent on Wednesday on a sole transaction of a mere 600 shares, closing €0.06 higher at €0.83.
In the same sector, RS2 Software plc shares traded flat at €2.929 on a single deal of 3,400 shares. Year to date, the former equity registered a 2.4 per cent loss, while the latter has so far recorded a 36 per cent gain.
MaltaPost plc shares advanced by €0.03 or 2.5 per cent as three trades of 41,981 shares were executed, yet again closing at an all-time high of €1.25. On Tuesday, the board of directors announced that it approved the company’s financial statements for the year ended September 30, 2014, to be submitted for approval at the forthcoming AGM scheduled for January 16, 2015.
The board resolved to recommend for the approval of the AGM, the payment of a final ordinary net dividend of €0.04 per nominal €0.25 share giving shareholders the option of receiving the dividend either in cash or by the issue of new shares.
The attribution price, at which the number of new shares to be issued will be determined is €1.16 per nominal €0.25 share. The final dividend, if approved, will be paid on January 30, 2015 to shareholders on the company’s share register as at close of business next Wednesday.
International Hotel Investments plc erased last week’s negative performance as its share price gained 1.9 per cent on one trade of 1,789 shares, to close at €0.53. On Thursday, the company announced that its main aim has been to break even in the Tripoli hotel operation.
The adjoining commercial centre, which generates €6 million in rental income on an annual basis, continues to be occupied by oil-sector blue chip tenants. Revenues within Russia this year have amounted to 35 per cent, compared to 25 per cent last year.
Simonds Farsons Cisk plc shares climbed by 0.7 per cent as two deals of 5,200 shares were struck. The food and beverage equity traded at a new high of €3.05 on Thursday, to however close at €3.04.
Similarly, Medserv plc shares strengthened by 1.4 per cent as 14,000 shares changed hands, closing at their 15-month high of €1.41.
On a negative note, Malta International Airport plc shares declined by €0.03 as 24,022 shares were dealt across 11 trades, closing 1.3 per cent lower at €2.30 after trading between a weekly high of €2.327 and a low of €2.22.
Telecommunications provider Go plc shed a further 0.6 per cent, to close at €2.50 as 10 deals of 26,281 shares were negotiated.
Plaza Centres plc shares edged 1.6 per cent higher as three deals of 38,218 shares were executed, to close at €0.64, while Tigne Mall plc shares closed unchanged at their record high of €0.585.
The other non-mover for the week was Island Hotels Group Holdings plc as they traded unchanged at €0.85 on a sole trade of 1,043 shares.
In the corporate bond market turnover amounted to just under €1.3 million spread across 28 issues of which 15 gained ground, four fell and nine closed unchanged.
The 7.5% Mediterranean Investments Holding plc € 2015 was the worst performer as it dropped by 2.1 per cent, to close at €92, while the newly issued 5.1% PTL Holdings plc unsecured € 2024 headed the list of gainers registering a three per cent gain in its first trading days to close at €103.00.
In the sovereign debt market, 26 issues were active with turnover reaching €8.7 million. Long-term issues triumphed, while short-term issues fell marginally. The 4.3% MGS 2016 (IV) was the most liquid issue as it witnessed a turnover of €1.064 million. Meanwhile, the 5.1% MGS 2022 (I) was the top-performer as it appreciated by 0.7 per cent, to close at €125.52.
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.