The Malta Stock Exchange index continued to gain ground in line with its positive trend, having appreciated by 0.78 per cent, to close at 4,521.012 points.
Activity was spread across 15 equities, of which eight advanced, three declined and four closed unchanged. Turnover amounted to €2.3 million.
HSBC Bank Malta plc shares were the best performers having fully recouped last week’s loss of 3.6 per cent, closing the week 3.7 per cent or €0.064 higher at €1.795 as 19 deals were executed and 38,522 shares changed hands.
Bank of Valletta plc shares oscillated between a weekly high of €2.257 and a low of €2.22, to ultimately close at €2.24. The banking equity was active on 132 trades of 328,468 shares.
Lombard Bank Malta plc shares fully erased the previous week’s gain having declined by two per cent over three transactions of 15,180 shares, closing €0.05 lower at €2.435.
FIMBank plc shares managed to close unchanged at $0.63, despite reaching a weekly low of $0.60. The trade finance bank witnessed nine deals of 98,754 shares.
Medserv plc shares reached a weekly high of €1.78, however still closed unchanged at €1.68. The equity was executed across seven transactions of 24,250 shares. During the week, the company announced that following the rights issue period, 2,022,920 new ordinary shares of a nominal value of €0.10c each share shall be allotted and listed on the official list of the MSE by February 5, 2016, with trading to commence on February 8, 2016. Moreover, a Lapsed Rights Offer Period ending January 27, 2015 was announced, with 3,517,904 rights available to intermediaries for subscription at €1.50 per share. Acceptance and allocation of which will be announced by not later than January 29, 2016.
Go plc shares appreciated by a further 1.6 per cent over 11 transactions of 42,445 shares, closing €0.05 higher at €3.15. The company announced that the board agreed to proceed with the option to convert the loan provided to Cablenet into equity, and to also exercise the option in the share purchase agreement to acquire further shares.
Malta International Airport plc shares strengthened by €0.05 or 1.2 per cent over 34 transactions of 45,514 shares, closing at a record high of €4.35. The local airport operator’s shares have rallied by 7.9 per cent in the past three weeks.
During the week, MIA announced a 7.7 per cent passenger growth and a rise of 6.3 per cent in aircraft movements. The top markets were the United Kingdom and Germany. Statistics revealed that the airport managed to increase traffic in the winter months, with December alone recording a 9 per cent increase over last year. Seat load factor also increased, with planes filled closer to capacity while cargo and mail increased by 5.6 per cent from the previous year. Additional routes are expected to start operating in the coming months, including thee new airlines, namely Volotea, Iberia Express and Czech Airlines. Going forward, the company is expecting at least a 2.4 per cent increase in traffic from 2015.
On a negative note, RS2 Software plc shares declined by 1.2 per cent as 42 transactions of 244,669 shares were struck, closing €0.04 below their all-time high of €3.33.
Conversely, MaltaPost plc shares partially recouped the previous week’s losses having increased by 1.1 per cent across seven trades of 13,210 shares, closing at €1.92.
Simonds Farsons Cisk plc shares traded flat at €6 as five transactions of 4,249 shares were executed.
Likewise, Malita Investments plc shares closed the week un-changed at €0.95 as seven trades of 58,350 shares were negotiated.
MIDI plc shares fell by 3.6 per cent over two deals of 20,500 shares, closing at €0.35.
On the other hand, Malta Properties Company plc shares registered an increase for the fourth consecutive week having strengthened by 1.8 per cent, to close at €0.58.
Tigne Mall plc shares edged1.1 per cent higher as 20,000 shares changed ownership, closing at €0.96.
Likewise, Mapfre Middlesea plc shares rose by a further 0.9 per cent across three transactions of 3,180 shares, to close at €2.35.
In the corporate bond market turnover amounted to €1.1 million. A total of 31 issues were active of which eight decreased, six gained ground and 17 closed unchanged. The 6.8% Premier Capital plc € Bond 2017-2020 headed the list of gainers, having advanced by 0.5 per cent, to close at €104.50, while the 3.5% Bank of Valletta plc € Notes 2030 S2 T1 stumbled by 1.9 per cent, closing at €99.99.
Mediterranean Bank plc announced that the board approved and accepted an informal capital contribution from the bank’s majority shareholder, Medifin Holding Limited, amounting to €14m.
In the sovereign debt market 23 issues were active, of which six declined, 16 rose in value and one traded flat. The uplift in equity and bond markets followed statements made by European Central Bank President Mario Draghi that the bank “will review and possibly reconsider” monetary policy at its next meeting in March. He further stated that rates would “stay at present or lower levels for an extended period”. In fact, the ECB kept the bank’s benchmark rate unchanged at 0.05% and overnight deposit rate also unchanged at -0.3 per cent. This week total turnover in local MGS trading reached €3.4m. The 4.1% MGS 2034 (I) was the most liquid issue having witnessed a turnover of €877,865. Meanwhile, the 4.45% MGS 2032 (II) registered the best performance, having increased by 0.5 per cent, to close at €132.86.
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.