The Accountant General has announced the issue of two new Malta Government Stocks, namely 1.5% MGS 2022 (IV) and 2.5% MGS 2036 (I) any combination of the two stocks which shall in the aggregate be €120 million subject to an over-allotment option of €80 million in the event of over-subscription. The offer price shall be made public next Thursday, with the offer opening to the public on Monday, February 22.

The Malta Stock Exchange index ended the four-day trading week flat at 4,469.04 points. Activity was spread across 19 equities of which gainers and losers tallied at nine while one closed unchanged as turnover amounted to €1.6 million.

Negativity in the banking sector prevailed. Lombard Bank Malta plc shares registered the worst performance having stumbled by €0.215 or nine per cent over a sole transaction of 1,155 shares, closing at €2.185.

Similarly, HSBC Bank Malta plc shares extended their recent downward streak by a further 4.1 per cent, closing €0.07 lower at €1.63. The banking equity was negotiated across 45 trades of 134,240 shares.

Bank of Valletta plc shares declined by a marginal 0.7 per cent as 203,700 shares changed ownership over 76 deals, to close at €2.215.

Conversely, FIMBank plc shares were the only gainers having recouped by 0.8 per cent as 16 transactions of 321,859 shares were struck, closing at $0.61.

Malta International Airport plc shares rallied by a further 4.4 per cent as 58,647 shares changed hands over 30 deals, to close €0.20 higher at their record high of €4.70.

Similarly, Mapfre Middlesea plc shares appreciated by €0.195 or 8.7 per cent as two trades of 4,000 shares were stuck, to close at a seven-year high of €2.45.

In the IT sector, RS2 Software plc shares appreciated by €0.04 or 1.2 per cent across 21 transactions of 36,550 shares, closing at an all-time high of €3.34. Meanwhile, 6pm Holdings plc shares strengthened by 3.6 per cent over two deals of 7,823 shares, to close at £0.725.

GO plc shares fully erased the previous week’s losses having gained 2.5 per cent as 28 trades of 52,293 shares were executed, closing €0.08 higher at €3.25. Last Thursday, GO announced its annual results for the financial year ended December 31, 2015. The Group registered a profit before tax of €34.2 million compared to €13.7 million registered in 2014. Revenue for the period under review amounted to €123.7 million, a rise of 1.2 per cent from the previous year Operating profit amounted to €27.8 million compared to €21.8 million registered in the previous year. Earnings per share soared to €0.261. The board of directors shall recommend the approval of a final dividend of €0.10 net of taxation per share to all shareholders who are on the shareholders’ register as at April 11, 2016.

Furthermore, the company also announced that it has received a number of non-binding offers from interested offerors for the company’s entire issued share capital, and is now in the process of evaluating such non-binding offers. In the coming weeks, GO shall grant all selected offerors access to information placed in the data room in accordance with the authorisation granted by the shareholders.

Malta Properties Company plc shares declined by 1.8 per cent over seven transactions of 44,050 shares, closing at €0.56. Similarly, MIDI plc shares dipped 2.8 per cent lower as a sole trade of a mere 100 shares was struck, to close at €0.35.

Medserv plc shares declined by 2.3 per cent across 20 deals of 62,373 shares, closing at €1.564. Last Thursday, the company announced that the request put forward by two International Oil Companies to extend the operating licence granted to Medserv (Cyprus) Ltd to operate out of the Larnaca Port was denied by Larnaca Local Council. Medserv will continue to service its clients out of Larnaca as per its current licence, expiring in August 2016. The Cyprus Port Authority has informed the International Oil Companies that its operations will be transferred to Limassol Port. Discussions are under way to ensure that this development will not hinder the prospects of the clients, the development of the Oil and Gas Industry in Cyprus, and Medserv (Cyprus) Ltd operation in Cyprus.

GlobalCapital plc shares headed the list of fallers having declined by 10 per cent over two transactions of 2,580 shares, to close at €0.45.

Conversely, Santumas Shareholdings plc appreciated by 22.1 per cent when one takes into consideration the recent one for every ten bonus share issue. The equity was negotiated across two trades of 1,436 shares and closed at €2.22.

MaltaPost plc shares advanced by €0.10 or 5.4 per cent as six deals of 3,698 shares were executed, closing at €1.94.

Likewise, Simonds Farsons Cisk plc shares also rose by €0.10 as two transactions of 1,000 shares were struck, to close 1.7 per cent higher at €6.10.

International Hotel Investments plc shares fell by 2.2 per cent over four trades of 7,373 shares, closing at €0.719.

Similarly, Plaza Centres plc declined by two per cent as 1,000 shares changed ownership, to close at €0.98.

The only non-movers for the week were Tigne Mall plc shares having closed unchanged at €0.97. The equity was active on three deals of 7,284 shares.

In the corporate bond market 25 issues were active of which seven declined, 11 gained ground and seven closed unchanged. Turnover totalled €716,239. The recently-issued 4.5% Medserv plc Unsecured € 2026 was the best performer for the week having advanced by 4.3 per cent, closing at €104.26.

In the sovereign debt market turnover totalled €3.3m spread across 24 issues of which 22 fell and two gained ground. The 4.1% MGS 2034 (I) was the most liquid issue having witnessed a turnover of €763,317.

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.

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