The Malta Stock Exchange index fully recovered from last week’s 0.26 per cent loss as it closed the week 0.31 per cent higher at 4,211.923 points.
Out of the 15 active equities, nine recorded an increase, five lost in value while one closed unchanged.
Total turnover amounted to €1.78 million, an increase of 4.7 per cent over last week.
In the banking sector HSBC Bank Malta plc and Lombard Bank Malta plc recouped last week’s losses to close 2.86 per cent and 0.71 per cent higher respectively. HSBC closed at €1.80 as activity was spread over 26 deals of 86,733 shares. Its peer, Bank of Valletta plc lost further ground as it closed at €2.25, 0.8 per cent lower over the highest turnover for the week which stood at €672,000.
Meanwhile, Lombard closed at €2.115 as 13 trades of 73,387 shares were concluded. During the week, Lombard announced that it registered a profit before tax of €4.3m for the six months ended June 30, 2015, compared to €3.27 million registered in the same comparable period of 2014 – primarily due to an improved performance by Maltapost. Net interest income for the period under review amounted to €6.4m, a decline of 5.8 per cent from 2014. Earnings per share increased to €0.052.
Heading the list of gainers was Medserv plc as its share price soared by 5.5 per cent to close at €2.50 – a new all-time high – after experiencing a late surge during the last trading session of the week as investors reacted to the positive financial results that were published on Thursday. The Group registered a profit before tax of €4.5 million, compared to €564,000 registered in 2014. Turnover for six months amounted to €26.9 million compared to €9.5 million in the same period last year. The significant increase in profit margins was mainly due to a decline in the low margin business which formed a substantial portion of last year’s turnover. Earnings per share increased to €0.105.
The other equities which ended the week at an all-time high were Simonds Farsons Cisk plc and Maltapost plc. SFC advanced by 4.9 per cent to close at €5.55 over thin volume of three deals of 432 shares while Maltapost closed at €1.636, a rise of 0.4 per cent on 4,986 shares.
In the property sector, Plaza Centres plc shares appreciated by 4.12 per cent to close at €1.01 as 9,500 shares were traded over three deals.
Meanwhile, Tigne Mall plc closed at €0.93 as it rallied by 4.5 per cent as 12,175 shares changed hands.
Malita Investments plc also recorded an increase as it gained 0.43 per cent to close at €0.94 on 10,638 shares.
The other gainer for the week was International Hotel Investments plc which appreciated by 1.2 per cent to close at €0.785 on 46,000 shares – slightly recovering from its recent downward trend. Yesterday, the Group announced that it registered a loss after tax of €0.9 million, compared to a loss of €7.6 million registered in the comparable period of 2014. Revenue for the period under review amounted to €55.38 million, a decline of 0.37 per cent from 2014. The increase in revenue generated from hotels in Malta, Prague, Budapest, Lisbon and London was offset by declines in Russia and Libya as a result of political and economic turmoil. Despite this, the Group reported that the devaluation of the Rouble left a negative impact and the hotel in Tripoli was closed for most of the period under review. Loss per share decreased to €0.002 from €0.014.
Heading the list of fallers were Mapfre Middlesea plc as its share price plunged by 4.4 per cent to close at €2.15 after five consecutive weeks of gains. This equity recorded a turnover of €66k over nine deals of 30,633 shares.
Elsewhere, Go plc closed at €3.48 – 2.5 per cent lower as 21,150 shares were traded over 12 trades. On Friday, Go announced that its subsidiary companies Mobisle Communications Limited and Worldwide Communications Limited are both to be merged with the Company.
The other faller for the week was Malta International Airport as it eased 0.3 per cent to close at €3.89 on a turnover of almost €130k.
In the IT sector, 6PM Holdings plc dropped by a further 3.4 per cent to close at £0.71 over low turnover of £2,985. Its peer, RS2 Software plc closed unchanged at €2.30 as 92,946 shares changed hands over 28 deals.
Global Capital plc reporting a profit before tax of €1.2 million for the period ending June 30, 2015, compared to €0.976m registered in 2014. Commissions and fees receivable for the period under review amounted to €1.358m – a rise of 1.96 per cent from 2014. Earnings per share increased to €0.037.
In the corporate bond market total turnover was equal to last week’s at €1.75 million as 29 issues were active of which seven increased in value, 13 fell out of favour while nine closed unchanged. The 5% Hal Mann Vella Group plc Secured Bonds € 2024 headed the list of gainers as it climbed by 0.9 per cent over thin volume of three deals of 9,700 nominal to close at €111. On the other hand, the 4.8% Bank of Valletta Plc Sub € 2020 lost most ground as it close 4.2 per cent lower at €104. The most liquid issue was the 5.1% 6PM Holdings plc Unsecured € 2025 as it recorded a turnover of €600,000, 34 per cent of total turnover, closing at €108.80.
The sovereign debt bonds recorded significant losses as all of the 17 stocks closed in the red. The 4.65% MGS 2032 (I) and the 4.1% MGS 2034 (I) both decreased by 2.2 per cent closing at €130.86 and €124.99 respectively. Total turnover stood at €2 million, 50 per cent lower than the previous week.
This article, 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.