The Malta Stock Exchange index built on last week’s 2.2 per cent rise to close 0.49 per cent higher at 4,228.224 points, thus reaching a seven-year high. A total of 14 equities were traded - four gained in value, five dropped out of favour while another five closed unchanged. Total turnover stood at €1.1m.
In the banking sector, HSBC Bank Malta plc rebounded from last week’s 1.6 per cent loss to close five per cent higher as 135,413 shares were exchanged over 36 deals. This upward trend followed the announcement of the payment of an interim gross dividend of €0.051 per share (€0.033 net of tax). This dividend is payable to shareholders on the bank’s register of shareholders as at August 14, 2015. In its interim financial results the bank reported that it registered a profit before tax of €36.3m, compared to €39.6m registered in the comparable period ending June 30, 2014. Net interest income for the period under review amounted to €60m, a rise of 2.95 per cent from the comparable period of 2014 while an increase in compliance and regulatory costs had a negative impact on profitability
Lombard Bank plc shares registered a late push, as the share price increased by 2.5 per cent during yesterday session to close at €2.10, a 41-month high. On the other hand, Bank of Valletta plc shares traded flat throughout the week at the €2.30 level to close marginally lower at €2.299. BOV shares registered the largest turnover for the week of €299k, representing 28 per cent of total turnover, as 38 deals of 130,179 shares were concluded.
Heading the list of fallers was FIMBank plc as its shares stumbled by 9.1 per cent as 25,390 shares changed hands, closing at a three-week low of $0.45. This reflected the negative results that were published by the Group as it reported a loss after tax of $8.64m compared to a profit of $1.45m registered in the comparable period ending June, 2014 - which were restated for discontinued operations. Net interest income for the period under review amounted to $16m, a rise of 16.7 per cent from 2014.
The other gainers for the week were Mapfre Middlesea plc and Malita Investments plc. Mapfre Middlesea plc shares climbed by 0.9 per cent to reach a six-year high, closing the week at €2.03. Activity in this equity was spread over eight deals of 7,117 shares. Meanwhile, Malita Investments plc shares continued to build on last week’s 3.3 per cent increase as they rallied by a further 2.2 per cent to close at €0.95.
On the contrary, RS2 Software plc shares fell by a further 2.3 per cent to close at €2.14 after 28,580 shares were traded over 12 deals. Its peer, 6pm Holdings plc reported that the Group registered a profit before tax of £413,199, compared to £385,263 registered in the comparable period ending June 2014. Revenue for the period under review amounted to £4.4m, a decline of 8.3 per cent from 2014. Meanwhile, earnings per share increased to £0.02.
Meanwhile, MIDI plc pared last week’s gain to close 1.5 per cent lower at €0.34. This week’s other faller was GO plc as it retracted slightly following last week’s 11.1 per cent gain to close 0.1 per cent lower at €3.498.
The non-movers for the week were, Simonds Farsons Cisk plc, Malta International Airport, Santumas Shareholdings plc, Tigne Mall plc and Maltapost plc. Their equities closed at €5.25, €3.95, €2.05, €0.87 and €1.60 respectively. MIA published the traffic results for the month of July and reported an increase of 7.1 per cent in passenger traffic, hosting 547,970 passengers at the airport. To date, traffic through Malta International Airport in 2015 increased by 6.9 per cent when compared to the same period last year.
GlobalCapital plc reported that the Group registered a profit after tax of € 222K for the financial year ending December 31, 2014 - compared to loss after taxation of €3.7 registered in 2013. The Group’s life insurance recorded a profit after tax of €2 million in 2014 compared to a loss of €505k in the previous year. Meanwhile, the health insurance agency’s profit after taxation amounted to €574k in 2014, a decline from €931k reported in 2013. The company reports smaller impairments in its property portfolio in 2014, amounting to €323k, a substantial decline when compared to 2013. Similarly, the losses incurred in the Group’s investment company have declined to €464k in 2014, compared to a loss of €1.1m, incurred in the previous financial year.
In the corporate bond market turnover amounted to €2.6m. A total of 32 issues were traded of which 14 gained in value, seven lost ground and 11 closed unchanged. The newly listed 5.5% Mediterranean Investments Holdings plc Unsecured € 2020 recorded a six per cent increase to close at €106.01 in its first week of trading. Meanwhile, the 4.25% Bank of Valletta plc € Notes 2019 Series 2 Tranche 1 faltered by 2.8 per cent to €105.01.
In the sovereign debt market 25 issues were active of which 11 advanced, 10 declined while four did not change value. The 2.3% MGS 2029 (II) registered the highest gain of 1.9 per cent closing at €104. On the other hand, the 3.4% MGS 2040 lost 0.6 per cent to close at €108. Meanwhile, the 3.2% MGS 2019 (V) registered the highest turnover of €2.17m - 25 per cent of total turnover which stood at €8.8m.
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.