The Malta Stock Exchange index continued to gain ground by a further 0.16 per cent to close at 4,351.058 points – a fresh seven-year high. Total turnover amounted to €718k as 12 equities were traded of which five increased in value, four closed in the red, while three did not register any changes. Last Wednesday marked the end of September, in which the MSE index gained 2.98 per cent.
The best performer over the week was MaltaPost plc as its share price put on 3.9 per cent over the week, after four weeks of inactivity, to close at an all-time high of €1.70. Activity was spread over four transactions of 7,146 shares.
The other equity to close the week at an all-time high was Simonds Farsons Cisk plc as it closed at €5.751 after its share price advanced by 2.7 per cent over seven trades of 4,332 shares. In its interim financial results for the six months ended July 31, 2015, the Group announced a profit before tax of €4.8m, compared to €4.2m registered over the same period in 2014. Revenue for the period under review amounted to €44.2m, a rise of 7.8 per cent from 2014. Earnings per share increased to €0.211. The Group also announced an interim dividend of € 0.0333 per ordinary share which shall be paid on October 20, 2015 to ordinary shareholders on the company’s register as at October 6, 2015. The Group’s positive results were mainly due to a buoyant performance of the local economy, particularly tourism, successful marketing of the beer portfolio, an increase in imported beverages and an improved performance from the franchised food business.
In the financial services sector, Bank of Valletta plc (BOV) shares recorded an increase for the fourth successive week as it gained a further 1.8 per cent to close at €2.39. During the month of September the equity gained 5.33 per cent, as investors await the annual results of the company. BOV was the most liquid equity for the week as 100,696 shares changed hands over 48 deals totalling €238k - representing 33 per cent of total turnover. During the week BOV announced that the next Annual General Meeting (AGM) will be held on December 17, 2015.
HSBC Bank Malta plc shares closed the week at €1.81 as 25 transactions of 62,557 shares pushed the price down by 2.1 per cent.
Meanwhile, Lombard Bank Malta plc shares closed 2.4 per cent higher at the €2.15 price level as 10 deals of 67,263 shares were concluded – amounting to a turnover of €143k. In the same sector, Mapfre Middlesea plc registered a slight gain of 0.04 per cent to close at €2.28 a fresh 78-month high as seven transactions of 13,308 shares were concluded. The equity gained eight per cent last month.
The other gainer for the week was GO plc as its share price drifted 0.1 per cent higher over nine trades of 14,500 shares to close at €3.459.
Conversely, Malita Investments plc (Malita) shares headed the list of fallers as it declined by 5.4 per cent over two trades of 30,000 shares to close at €0.88. This negative performance was a reflection of the past four weeks as Malita declined by 6.4 per cent over the month.
Elsewhere, Malta International Airport plc closed at €3.851 as its share price shed 0.8 per cent over four deals of 6,470 shares. The other faller for the week was Medserv plc whose share price posted a slight loss of 0.2 per cent, after rallying by 23.8 per cent over the month, to close at €3.095.
The non-movers for the week were International Hotel Investments plc and RS2 Software plc (RS2) as they closed the week at €0.80 and €2.51 respectively. RS2 posted a monthly gain of 9.6 per cent, reaching an all-time high of €2.52 in the second week of September. In the Corporate Bond market 25 issues were traded, of which, eight gained, seven fell while ten closed unchanged as total turn-over increased by €685k to reach €1.27m.
The 5.3% United Finance plc Unsecured € Bonds 2023 headed the list of gainers as it put on 2.8 per cent over single trade of 25,000 nominal to close at €108.50. Conversely, the 7% Grand Harbour Marina plc € 2017-2020 posted a 5.4 per cent decline to close at €107 as a single deal of 9,400 nominal was concluded.
The most liquid issue was the 5.1% 6PM Holdings plc Unsecured € 2025, which closed unchanged, as 13 transactions amounting to a turnover of €318k, representing 25 per cent of total turnover.
On the sovereign debt front turnover totalled €7.2m up from €3.7 million traded last week, as 24 stocks were active of which 15 closed in the black and nine lost in value. The long dated issues continued with their positive trend as the 3% MGS 2040 (I) closed the week 1.2 per cent higher at €107.40 as 50 transactions of 497,200 nominal were concluded. The 5.25% MGS 2030 (I) was the most liquid stock as 16 deals amounted to a turnover of €2m were executed.
On Thursday, the Treasury announced that the prices for the new Malta Government Stocks Issue have been set at €106.25 for the 2% MGS 2020 (V) F.I. with a yield to maturity (YTM) of 0.714%, and at €102.50 for the 2.3% MGS 2029 (II) F.I., with a YTM of 2.09% The offer will open for retail clients from next Monday and close on Wednesday or earlier at the discretion of the Accountant General.
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: 21224410, or email info@jesmondmizzi.com.