The MSE Index added on to last week’s negative performance by a further 0.57 per cent, to close at 3,727.85 points. Turnover amounted to €1.55 million as activity was spread across 14 issues of which gainers and losers tallied at five, while four closed unchanged.
Medserv plc shares were the best performers of the week, having rallied by 2.5 per cent over two deals of 1,110 shares, closing at a record high of €2.05. Conversely, Plaza Centres plc headed the list of fallers, having stumbled by €0.03 or 3.1 per cent as five trades of 203,928 shares were struck, to close at €0.945.
In the banking sector, Bank of Valletta plc shares swayed from a weekly high of €2.25 to a low of €2.206, to ultimately close at €2.21 and thus registering a 1.34 per cent decline on the week. The equity was negotiated over 51 deals of 171,085 shares. The board of directors of the company is scheduled to meet on April 30 to consider and approve the interim financial statements for the six months ended March 31 and to consider the declaration or otherwise of an interim dividend.
HSBC Bank Malta plc shares partially erased last week’s negative returns, having recouped by a slight 0.1 per cent across 30 transactions of 97,514 shares, and closing at €2.032. Meanwhile, Lombard Bank Malta plc shares closed unchanged for the third consecutive week at €1.95. The banking equity was dealt across three trades of 13,542 shares.
RS2 Software plc extended its recent upward streak, having reached a record high of €3.085 intra-week. The IT operator’s equity gained 0.5 per cent intra-week and closed at the €3.075 level as 12 trades of 37,412 shares were struck. On Tuesday, the board of directors approved the financial statements for the financial year ended December 31, 2014, for approval of the shareholders at the forthcoming annual general meeting due to be held on June 9.
The group registered a profit before tax of €4.19 million, compared to €4.25 million registered in 2013. Revenue for the period under review amounted to €15.2 million, an increase of 7.9 per cent from 2013. Meanwhile, earnings per share declined minimally to €0.064. The board resolved to recommend the payment of a final dividend of €0.044 per share. If approved at the AGM, the dividend will be paid on June 15 to shareholders on the register as at May 8.
During Tuesday’s session, 6PM Holdings plc shares traded flat at £0.76 over a sole transaction of 5,000 shares. The other non-movers for the week were MaltaPost plc and Midi plc shares, having closed unchanged at €1.45 and €0.29 respectively. The former witnessed three deals of 2,000 shares, while the latter was active on three transactions of 187,800 shares.
Meanwhile, Malta International Airport plc shares fully reversed last week’s gains, having declined by 0.9 per cent across 20 trades of 111,845 shares, closing €0.03 lower at €3.48. This drop was registered during yesterday’s session when a mere 400 shares were dealt. Similarly, International Hotel Investments plc shares slipped by 2.8 per cent over 10 transactions of 92,142 shares, to close at €0.69.
Simonds Farsons Cisk plc shares rallied by €0.08 or 2.5 per cent over five deals of 5,562 shares, closing at an all-time high of €3.35. Similarly, Middlesea Insurance plc shares advanced by 1.7 per cent over seven trades of 24,564 shares, to close at €1.22.
Go plc shares oscillated between a weekly high of €2.85 and a low of €2.80, to ultimately close at €2.84 and thus registering a marginal decline of 0.35 per cent. The telecommunications provider’s shares were negotiated across 12 trades of 22,650 shares.
During the week, GlobalCapital plc (GlobalCapital) reported that while its business and operations are separate and distinct from those of BAI Co. (Mtius) Ltd (BAI), the decision of the authorities in Mauritius to appoint conservators to BAI (which is the owner of 48.45 per cent of the issued share capital of GlobalCapital – a ‘substantial shareholding’ in terms of the Listing Rules of the MFSA) – has created uncertainty on the effect which the position of BAI will have on the operations of the company. Recent and ongoing events relating to BAI appear to be complex and the company is not privy to these events.
In another announcement, GlobalCapital announced that EIP plc, a public limited liability company incorporated in Malta, has made a conditional offer to BAI for the acquisition of all the shares held directly by BAI in the company. This conditional offer is subject to conditions which are typical in these types of transactions such as the signing of a binding share purchase agreement, a full due diligence process and all necessary regulatory approvals.
In the corporate bond market, turnover amounted to €778,557 spread across 31 issues of which 22 gained ground, eight closed unchanged and the 6.5% Island Hotels Group Holdings plc € 2017-2019 declined minimally to close at €103.
In the sovereign debt market, 27 issues were active of which losers outweighed gainers as 19 declined, while eight increased on a turnover of €11.6 million. The 3% MGS 2040 (I) r was the most liquid issue with a volume of over 2.3 million nominal traded as the long-dated issue declined by 1.2 per cent to close at €118.51.
This article, which was compiled by Jesmond Mizzi Financial Advisors Ltd, 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 Ltd at 67, Level 3, South Street, Valletta, on tel: 21224410, or e-mail info@jesmondmizzi.com.