The Malta Stock Exchange index extended last week’s gain by a further 0.6 per cent, to close at 3,790.141 points.
A total of 16 equities were active of which nine advanced, five fell and two closed unchanged as turnover amounted to €1.8 million.
Medserv plc shares headed the list of gainers having soared by €0.17 or 8.4 per cent as five deals of 16,390 shares were struck. The equity closed at its record high of €2.20.
Simonds Farsons Cisk plc shares rallied by 5.2 per cent on two trades of 1,800 shares, closing €0.175 higher at an all-time high of €3.525.
MaltaPost plc shares erased last week’s two per cent loss as two transactions of 2,995 shares led the equity to re-touch its record closing high of €1.45. The board of directors is scheduled to meet on Tuesday to consider and approve the interim financial statements for the six months ended March 31, 2015.
In the banking sector, Bank of Valletta plc shares were the only positive performers, having registered a 0.3 per cent gain on the highest turnover for the week of €565,000. The equity oscillated between a weekly high of €2.351 and a low of €2.29, to then close at €2.30.
FIMBank plc registered the worst loss when compared to its banking peers as its share price fell by 1.1 per cent across four deals of 55,713 shares, closing at $0.45. Meanwhile, HSBC Bank Malta plc and Lombard Bank Malta plc shares declined by 0.6 per cent and 0.5 per cent respectively. The former witnessed 63 trades of 210,162 shares, closing at €1.86, while the latter were negotiated across four transactions of 4,430 shares, to close at €1.89.
Middlesea Insurance plc shares traded flat at €1.22 over two trades of a scant 738 shares. As per approval by shareholders at the AGM on April 24, 2015, the company will change its name to Mapfre Middlesea plc effective as from May 11, 2015. In its interim directors’ statement, Middlesea announced that the first quarter of 2015 saw an increase in non-life and life premium volumes and revenues, following another year which showed a good increase in terms of revenue growth.
The other non-mover for the week was Tigne Mall plc having closed at €0.80 over two transactions of 6,000 shares.
International Hotel Investments plc (IHI) shares recouped last week’s loss, having advanced by 1.5 per cent across three transactions of 50,000 shares to close at €0.69.
Malta International Airport plc shares edged 0.1 per cent higher over 15 trades of 36,905 shares. Its shares swayed between a weekly high of €3.49 and a low of €3.455, to ultimately close at €3.465.
Go plc shares soared by €0.16 or 5.6 per cent as 173,581 shares changed ownership, closing at €3. The board of directors has been exploring options that would maximise value for its shareholders in relation to the portfolio of immovable property owned by its subsidiary Malta Properties Limited and its subsidiary companies.
In the IT sector, RS2 Software plc shares registered an increase for the fifth consecutive week, closing at €3.16, however failing to maintain an intra-week high of €3.20 – after trading ex-dividend on Thursday.
6PM Holdings plc shares fell by 2.6 per cent as 19,374 shares changed hands, to close at £0.74.
Santumas Shareholdings plc shares slipped by 0.3 per cent on very low volumes, closing at €1.995.
MIDI plc shares recouped 1.8 per cent over two trades of 135,964 shares, to close at €0.285.
GlobalCapital plc has applied to the Listing Authority to request an extension until May 31, 2015 to consider and approve its annual financial report for the financial year ended December 31, 2014. The delay in the publication of the company’s annual financial report will result in the Listing Authority’s extension of the suspension of the listing and trading in the company’s securities until its annual financial report is made public.
In the corporate bond market, 27 issues were active of which 12 gained ground, four declined and eleven closed unchanged. Turnover in this market amounted to €856,554. The 7.15% Mediterranean Investments Holding plc Euro 2015-2017 was the top performer as it advanced by 4.2 per cent, to close at €96.
The new €45m bond issued by IHI was heavily oversubscribed – the company will announce the basis of acceptance and the allocation policy by not later than Monday.
On May 1, Izola Bank plc announced that the board of directors has submitted an application to the Listing Authority of the MFSA requesting the admissibility to listing of €12m in bonds redeemable in 2025. Subject to approval and to their effective admission, the net proceeds from the new bonds will be used by the issuer for the purpose of purchasing the €9m 5.35% Izola Bank plc Secured Notes due on June 30, 2015 from existing noteholders for cancellation and to meet part of its general funding requirements. The issuer will be granting holders of the maturing notes preference to subscribe to the new bonds by surrendering their respective holding in the maturing bonds.
Investors continued to take profits in the sovereign debt market as all 25 active issues registered a decline in value. Particularly, the 3% MGS 2040 (I) recorded the worst drop of 2.7 per cent to close at €113.19. The said MGS gained one per cent yesterday after trading at a weekly low of €112 on Thursday. Turnover in this bond amounted to €11.9m compared to a €50.9m total turnover in sovereign debt market.
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.