The Malta Stock Exchange index extended last week’s gain by a further 3.09 per cent, ending the week at 3,641.731 points as turnover amounted to just under €2 million.
Investors showed bullish sentiment towards the local equity market as 11 out of a total of 18 equities registered considerable gains, five fell in value and two closed unchanged. Year-to-date the MSE index is up 9.33 per cent.
Malta International Airport plc experienced another remarkable week as its share price opened the week at €3.155 to then close at a record high of €3.21. The local airport operator’s shares were active across 35 transactions of 80,500 shares. Likewise, Malita Investments plc shares soared by 5.6 per cent as seven trades of 36,000 shares were executed, to close at its all-time high of €0.95.
MaltaPost plc and Tigne Mall plc shares both reached record highs of €1.41 and €0.705 respectively on relatively low volumes. International Hotel Investments plc shares recorded this week’s highest gain having rallied by 10.1 per cent on seven deals of 18,534 shares, to close €0.065 higher at €0.71.
Conversely, FIMBank plc shares headed the list of fallers having declined by a hefty 6.4 per cent as two trades of 7,500 shares were negotiated, to close $0.03 lower at $0.44. The company reported that in 2014, the Group registered a loss before tax of $53.4m, compared to a $4.1 million loss registered in 2013. Major impairment provisions in the India and Russia subsidiaries and in the bank totalled $50.7 million and the scale of these events caused the positive operating result to be completely wiped out. Net interest income for the financial year ended December 31, 2014 amounted to $28.4 million, an increase of 78 per cent from 2013. A dividend will not be recommended, however, a one for 10 bonus issue of ordinary shares will be recommended, subject to regulatory approval.
Lombard Bank Malta plc shares fully erased last week’s gain, having dropped by 2.5 per cent to €1.881 as 40,757 shares changed hands across 12 deals. The Group registered a profit before tax of €6.2 million for the year ended December 31, 2014, compared to €7 million in 2013. Net interest income amounted to €14.3 million – registering a 5.1 per cent decline. The board will recommend to the AGM a final net dividend of €0.026 per nominal €0.25 share payable to shareholders on the company’s register as at March 23, 2015 and a bonus issue of one share for every 20 held to shareholders on the register as at May 27, 2015.
Bank of Valletta plc added on to its recent upward streak, as its share price strengthened by 5.3 per cent with 196,300 shares changing ownership, to close €0.115 higher at €2.275. Similarly, HSBC Bank Malta plc shares edged 1.8 per cent higher to €1.97 over the highest turnover for the week of 453,304 shares.
Middlesea Insurance plc shares closed unchanged at €1.05 as five deals of 8,103 shares were struck. The group maintained a profit before tax of €17.3 million for the financial year ended December 31, 2014. Total income from insurance activities amounted to €14.9 million, an increase of 11.3 per cent from 2013. The Group’s results include the consolidated MSV profit before tax of €14.3 million compared to €15.5 million in 2013. Earnings per share increased to €0.078. A final gross dividend of €0.05127 per share will be recommended to the company’s AGM to be paid to shareholders on the company’s register at April 30, 2015.
The other non-mover this week was MIDI plc having closed at €0.23 on four deals of 24,000 shares.
In the IT sector 6pm Holdings plc and RS2 Software plc shares declined by 5.8 per cent and 0.7 per cent respectively. 6pm shares were negotiated across four transactions of 5,238 shares, to close at £0.65, while a single deal of 1,000 RS2 shares was executed at €2.939.
Go plc shares appreciated by €0.10 or 3.6 per cent over 21 transactions of 34,932 shares, to close at its seven-year high of €2.91. The group registered a profit before tax of €20.3 million for the year ended December 31, 2014, compared to €15.6 million registered in 2013. Revenue amounted to €122.3 million, an increase of 0.1 per cent from 2013. The board will be recommending payment of a final net dividend of €0.07 per share to shareholders on the company’s register as at April 2.
Medserv plc shares rallied by 5.3 per cent over six deals of 42,000 shares, closing €0.08 higher at €1.60. It has been awarded a €4 million contract, which will commence in the second quarter of the year.
Plaza Centres plc shares climbed by 4.7 per cent to close at €0.89, while Grand Harbour Marina plc shares edged 1.1 per cent higher, to close at €1.78.
On a negative note, Simonds Farsons Cisk plc shares shed 1.5 per cent from its all-time high of €3.25, to close the week at €3.201.
In the corporate bond market turnover amounted to €2.3 million - a total of 29 issues were active of which six declined, 13 appreciated and 10 closed unchanged. Worth noting was the 5% Hal Mann Vella Group plc secured bonds € 2024 which rose by 2.1 per cent to close at €109.
In the sovereign debt market 23 issues were negotiated of which five eased lower and 18 gained ground as turnover totalled €13.2 million. The 4.3% MGS 2022 (II) was the most liquid issue as it witnessed a turnover of €3.8m and closed at €123.18. Meanwhile, the 4.1% MGS 2034 (I) r registered the best performance having advanced by 3.3 per cent to close at €127.
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.