The share index ended in negative territory for the second consecutive week with a drop of a further 0.5 per cent as today’s 0.2 per cent gain failed to offset the declines earlier this week.
Bank of Valletta rebounded by 1.4 per cent today to regain the €2.24 level across 12 trades totalling 45,568 shares but still ended the week 2.6 per cent lower possibly due to the pending claim against the Bank in an Italian court of more than €360 million. BOV will shortly be publishing its interim results as at March 31.
The share price of RS2 Software continued to perform positively with a further 0.6 per cent increase to a fresh all-time high of €3.05,9 on volumes of 12,582 shares ahead of the 2014 full-year results publication next Tuesday.
The only other positive performing equity was 6pm Holdings after the IT Group yesterday published its 2014 full-year results revealing an 8.9 per cent increase in net profit to £0.81 million. Given the improved performance, the directors recommended a final net dividend of 2p per share representing a four per cent increase over the previous year’s dividend. The directors also recommended a 1 for 50 bonus share issue.
On the secondary market, the equity of 6pm Holdings edged 1.3 per cent higher to reach a new all-time high of 76p across five deals totalling 60,000 shares.
On the other hand, the share price of Malta International Airport slipped minimally lower to €3.51 as the equity turned ex-dividend. A total of 3,500 shares changed hands today across two deals.
HSBC Bank Malta shares also closed in negative territory with a 0.5 per cent drop back to the €2.03 level on a single trade of 2,400 shares. The bank is scheduled to hold its annual general meeting on Wednesday.
Similarly, in the property segment, Plaza Centres eased 0.5 per cent lower from its all-time high of 98c back to 97c5 on low volumes of 7,572 shares. The equity of Malita Investments also trended lower with a one per cent decline back to the 96c level on volumes of just over 60,000 shares.
The MFSA announced this afternoon that in view of the fact that the major shareholder of GlobalCapital , BAI Co (Mtius) Ltd, which owns 48.45 per cent of the company, has been put under the control of conservators by the authorities in Mauritius, the listing authority has decided to suspend the listing and trading of both the shares of GlobalCapital and the 5.6 per cent GlobalCapital bonds 2014/16. This action is being taken to prevent any false market being created in the securities of GlobalCapital.
On the bond market, the Rizzo Farrugia MGS Index reversed yesterday’s uplift with a 0.2 per cent drop to 1,173.221 points reflecting the widening spread between peripheral Eurozone sovereign yields and the benchmark bund yield as the possibility of a Greek default is increasing.
Greece has until now failed to reach a new debt deal with its international creditors and the International Monetary Fund (IMF) has rejected a request for a rescheduling of two payments, totalling almost €1 billion, that Greece must make during the first 12 days of May.
Earlier this week, International Hotel Investments published a prospectus dated April 10 in connection with a new €45 million 5.75 per cent bond issue redeemable in 2025.
Last Friday, IHI had announced that it will be redeeming its outstanding €35 million 6.25 per cent bonds at the first early redemption date of July 11. As such, IHI will be granting preference to the holders of the maturing bonds as at April 8, to subscribe for the new bonds by surrendering their existing holding.
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