The Malta Stock Exchange index halted its on-going winning streak as it declined by one per cent after registering nine consecutive weeks of gains, to close the week at 4,116.226 points.
Activity was spread across 16 equities of which nine gained ground, four fell and four closed unchanged.
Turnover totalled to €1.3 million.
Malta International Airport plc shares rallied by €0.105 or three per cent as 15 trades of 29,942 shares were struck, closing at a record high of €3.655. The local airport operator reported that it is forecasting traffic of around 4.5 million passengers by the end of 2015 – an increase by more than 200,000 over 2014. Passenger traffic in June 2015 increased by 8.2 per cent compared to June 2014. Meanwhile, traffic between January and June increased by 6.9 per cent over last year.
Go plc shares stumbled by a significant 12.5 per cent on 47 deals of 127,090 shares, closing €0.45 lower at €3.15. The most significant loss (10 per cent) was registered on Friday, after the company reported that Emirates International Telecommunications Malta Limited (EITML) –a 60 shareholder shareholder, expressed its intention to seek to dispose of its shareholding in the company in the short term. At the company’s extraordinary general meeting, the shareholders approved the spin-off of the company’s shareholding in Malta Properties Company Limited (MPL) to be effected through the payment of an interim dividend in kind by way of a distribution of the company’s shareholding in MPL – to be distributed pro-rata to shares held by the shareholders.
In the banking sector, Lombard Bank Malta plc shares added on to previous week’s gains, having increased by a further €0.128 or seven per cent, closing at €1.949.
Similarly, FIMBank plc shares fully recouped their previous losses, having increased by 4.2 per cent as a sole transaction of 3,000 shares was struck, to close at $0.47.
On the other hand, Bank of Valletta plc and HSBC Bank Malta plc shares fell by 0.3 per cent and 1.6 per cent respectively. BOV was the most liquid equity for the week, having witnessed 44 trades of 131,163 shares, to close at €2.275. HSBC shares were negotiated across 19 transactions of 53,513 shares, closing at €1.82.
Mapfre Middlesea plc shares fully erased last week’s losses, having advanced by €0.12 or 7.2 per cent as 13 trades of 16,152 shares were struck, to close at €1.79. The board of directors of the company approved the Group’s unaudited financial statements for the half year ended June 30, 2015. The Group registered a profit before tax of €15.18m, compared to €8.21m registered in 2014. All Group companies registered improved results with the main driver being the Group’s life operations with MSV Life plc, registering higher profits than the comparative period last year, mainly resulting from a one-off saving from renegotiation of the reinsurance treaty.
Medserv plc shares rose by 0.6 per cent as 4,500 shares changed ownership, closing at a record high of €2.37.
MaltaPost plc shares appreciated by a further 1.4 per cent across two trades of 7,342 shares, closing at €1.531.
Tigne Mall plc shares edged 0.6 per cent higher as two transactions of 30,000 shares were struck, closing at €0.865.
Plaza Centres plc shares traded flat at €0.96 on a sole transaction of 67,925 shares. The group reported that for the six months ending June 30, 2015 it registered a profit before tax of €776,928, compared to €714,929 in 2014. Revenue for the period under review amounted to €1.2 million, an increase of 6.7 per cent from 2014. Meanwhile, earnings per share increased to €0.017.
RS2 Software plc shares managed to hold on to the €2.25 price level after reaching a weekly high of €2.26 as 24,300 shares changed hands.
The other non-movers were Simonds Farsons Cisk plc and Malita Investments plc closing unchanged at €4.95 and €0.90 respectively. SFC was executed on a sole trade of a scant 419 shares, while Malita witnessed a single deal of 5,000 shares.
International Hotel Investments plc shares slipped by 1.8 per cent over four transactions of 15,503 shares, to close at €0.835.
On a positive note, Grand Harbour Marina plc shares increased by 0.8 per cent – when one takes into consideration its recent two for one share held share split, closing at €0.945.
GlobalCapital plc announced that EIP plc (EIP) has entered into a share purchase agreement with BAI Co. (Mtius) Ltd for 6,399,092 shares in the company, pursuant to which EIP has agreed to acquire a 48.45 per cent shareholding interest in the company.
In the corporate bond market 30 issues were active of which six declined, ten advanced and 14 closed unchanged as turnover totalled to €2.2 million.
Meanwhile, in the sovereign debt market turnover amounted to €25.9 million and was spread across 27 issues of which 22 appreciated while four fell in value.
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.