The Malta Stock Exchange index ended the week 0.19 per cent higher, to close at 4,444.40 points.
Turnover amounted to €1.4 million and was spread across 14 equities of which six gained ground, four fell and another four closed unchanged.
RS2 Software plc shares headed the list of gainers having advanced by a significant €0.22 or 8.5 per cent, closing at an all-time high of €2.82. The IT equity was active across 39 deals of 57,232 shares. In its interim directors’ statement, the company outlined that demand for the Group’s services continues to be significant as the Group increases its implementation and service offering to its clients in Europe, Latin America and Asia Pacific. Higher interest is evident from other regions such as the Middle East and Africa. The Group holds a positive outlook for the year with potential business in the pipeline.
In the same sector, 6PM Holdings plc announced that by virtue of an agreement dated October 9, 2015 it has transferred 14,000 Ordinary A shares and 6,000 Ordinary “B” shares it holds in Agilis6 Limited and which amount to the total issued share capital of Agilis6 Limited. This transfer is in line with the objectives of the company to focus principally on the health industry. The equity was not active this week.
On a negative note, Bank of Valletta plc shares ended the week €0.031 or 1.3 per cent lower, having closed at €2.389, despite having reached a weekly high of €2.43. The banking equity was negotiated over the highest volume of 154,975 shares.
Conversely, HSBC Bank Malta plc shares edged 1.1 per cent higher as 28 trades of 88,262 shares were struck, to close at €1.87.
Meanwhile, FIMBank plc shares traded flat at $0.45 over six deals of 82,800 shares.
Similarly, Simonds Farsons Cisk plc, Plaza Centres plc and Medserv plc shares all closed unchanged at €6, €0.97 and €2.15 respectively.
Mapfre Middlesea plc shares advanced by 4.6 per cent as 17,688 shares changed ownership, closing €0.10 higher at €2.30.
Likewise, Malta International Airport plc shares appreciated by 2.3 per cent over 22 deals of 26,446 shares, to close just shy of their all-time high of €4, at €3.99.
Grand Harbour Marina plc shares rallied by four per cent over three trades of 17,000 shares, closing at €1.04. In its interim directors’ statement, GHM reported improved revenues for the Group during the first nine months of the year with growth in both Grand Harbour Marina in Malta and in IC Cesme Marina, Turkey, in which the Group holds a 45 per cent beneficial interest. For the period under review, the Group registered revenues of €4.63 million, an increase of six per cent over the corresponding period in 2014 and a profit before tax amounting to €0.55 million. With respect to Grand Harbour Marina Malta, total revenue also increased by six per cent to €2.67 million during the period January to September 2015 and has reported a profit before tax of €0.09 million compared to a loss before tax of €0.06 million in 2014. A renewed interest in the market for berth sales was noted despite no berth sales have been registered during the first nine months of the year.
Tigne Mall plc shares advanced by 0.5 per cent, to close at a record high of €0.96 as 13 trades of 70,600 shares were negotiated. Conversely, Malita Investments plc shares slipped by 1.1 per cent across eight transactions of 68,200 shares, closing at €0.91.
In the hoteliers’ sector, International Hotel Investments plc shares partially erased the previous week’s 8.5 per cent gain with a 4.3 per cent decline, to close at €0.81.
GO plc shares oscillated between a weekly high of €3.20 and a low of €3.07, to ultimately close at €3.15, thus registering a 1.56 per cent decline. The telecommunications provider’s shares were negotiated across 18 trades of 75,550 shares. The company announced that its fully-owned subsidiary, GO Data Centre Services Limited, has entered into a preliminary agreement to purchase 51 per cent of the issued share capital of Kinetix IT Solutions Limited, subject to regulatory approval.
In the corporate bond market 33 bonds were active of which 12 increased, six declined and 15 closed unchanged as turnover totalled €1.3 million. The 6% Island Hotels Group Holdings plc 2024 was the best performer having advanced by 5.1 per cent to close at €113.50.
BOV announced the issuance of €75,000,000 Subordinated Notes maturing in 2030. The notes are subordinated and unsecured. The bond will offer a coupon of 3.5 per cent per annum and will be issued at a price of €100 per bond. This issue will be split into two series – Series 1/2015 will have a minimum application amount of €25,000 while Series 2/2015 will be subject to a minimum application of €5,000. Out of the €75 million on offer, up to €40million is reserved for preferred applicants being BOV shareholders on the register of members as at October 21, 2015 as well as the directors and staff of the Issuer. The closing date for the Subscription Notes by Preferred applicants is November 30, 2015 at 10am while the bond will be opening to the general public on December 2, 2015.
Mediterranean Investments Holding plc (MIH) announced that the issue of €11m 6% Unsecured Notes 2020 has been fully subscribed.
In the sovereign debt market turnover amounted to €3.5m spread over 23 issues of which 10 advanced and 13 decreased in value. The 2.3% MGS 2029 (II) FI Oct 15 r was the most liquid issue for the week having witnessed a turnover of €981,000.
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.