The Malta Stock Exchange (MSE) index notched its third consecutive weekly gain as it rose 0.93 per cent higher to 4,587.18 points after hitting an eight-year high of 4,613.384 points last Wednesday. Solid gains in the share price of HSBC Bank Malta plc, International Hotel Investments plc (IHI), Malta Properties Company plc (MPC) and Medserv plc more than offset the falls in Malta International Airport plc (MIA), Plaza Centres plc and Midi plc shares.
Total turnover last week rose 68 per cent to €1.53 million. Of the 17 traded equities, 13 rose, three closed lower and one was unchanged.
HSBC and Bank of Valletta plc (BOV) shares lifted the index’s weekly performance, appreciating by 3.80 per cent and 0.6 per cent to €1.66 and €2.284, respectively. The latter traded in a turnover worth €414,000, whereas there were 21 deals of 42,486 HSBC shares.
Last Thursday, HSBC announced that its next annual general meeting (AGM) will be held on Friday to approve the audited accounts for the year ended December 31, 2015, the directors’ and auditors’ report, and the declaration of a final gross dividend of €0.026 per share, representing a final gross payment of €9,367,959.
Lombard Bank Malta plc’s share price partially recouped its previous week’s 2.2 per cent fall as it closed 1.4 per cent higher last week to close at €2.23. The equity was active in two deals of 9,710 shares. The bank announced that its AGM will be held on April 28 to approve the audited financial statements and consider the report of the directors and auditors for the year ended December 31, 2015, and to declare a final net dividend of €0.026 per share, representing a final gross payment of €1.8 million.
Fimbank plc shares recorded their fifth week winning streak, gaining 0.7 per cent to close the week at $0.74. The equity was traded in three deals of 41,299 shares. Last Wednesday was the last day investors were entitled to receive a bonus share issue of one share for every 25 held. No deals were struck after the equity turned ex-bonus.
IHI shares climbed by 1.6 per cent to €0.65, as 112,425 shares changed hands in 19 deals. Last Thursday, the companyannounced that its AGM will be held on June 9.
Medserv plc locked in a weekly gain of 4.1 per cent as its share price closed the week at €1.80, following 20 deals of 114,073 shares.
6PM Holdings plc shares reached a fresh all-time high of £0.88 after advancing 3.5 per cent, after four deals of 29,000 shares. Last Tuesday, the company announced that an extraordinary general meeting will be held on April 28 for shareholders to authorise the company to furnish in confidence, information, including unpublished sensitive information as may be necessary to enable a bona fide offeror, a bona fide transferor and their respective advisors to make, confirm, withdraw or modify an offer to acquire a substantial shareholding in the company. In furtherance of this resolution, the board of directors would be authorised to disclose information as deemed fit and proper.
RS2 Software plc’s share price was up by half a per cent, to close the week at €3.80, as 28 deals of 65,715 shares were transacted, after having traded at a weekly high of €3.85.
Simonds Farsons Cisk plc ended the week up by one per at €6.10, as 3,974 shares changed hands in four transactions.
The price of GO plc shares regained their upward trajectory as 17 deals of 31,176 shares lifted the equity 0.9 per cent higher to close the week at €3.48. Last Thursday, the equity traded for the last time with the entitlement of a €0.10 net dividend.
MPC and Malita Investments plc shares pushed the property equities higher. MPC shares posted a solid gain of 5.4 per cent, to close the week at €0.59, on a turnover worth €65,000. Malita shares partially regained 2.2 per cent of its previous 3.2 per cent fall, as it closed at €0.94, after two transactions of 1,800 shares.
Last week, Malita announced that its next AGM will be held on April 26 to consider and approve the annual report and financial statements for the year ended December 31, 2015, the directors’ and auditors’ reports, and the recommendation of a gross dividend of €3,258,377, equating to a final net dividend of €0.0143 per share.
Tigné Mall plc shares edged marginally higher, up by 0.1 per cent to €1.05, following two transactions of 20,000 shares.
Midi plc succumbed to selling pressure to close down by 2.6 per cent at €0.37, €0.01 cents shy of its four-year high of €0.39, after 11 deals of 174,476 shares. The equity turned ex-dividend last Friday, although no deals were executed on the day.
Plaza Centres plc shares fell by a further 1.5 per cent to €1.02, after two deals of 63,533 shares.
Heading the list of fallers, Malta International Airport plc shares wiped out their previous gains, having retreated by 2.7 per cent to close the week at €4.38, after 15 deals of 19,078 shares. As from last Monday, the equity started trading without the entitlement to the final net dividend of €0.07 per share.
No movement was noted in the €1.98 price of Maltapost plc shares after a single deal of a mere 475 shares.
In the corporate bond market, total turnover rose from €433,000 to €718,000, as 32 issues were traded, of which six gained ground, 17 fell out of favour and nine stood unchanged. The week’s best performance was posted by the 4.5 per cent Hili Properties plc unsecured € 2025 issue, which gained 2.5 per cent to close at €108.20, while the 4.5 per cent Izola Bank plc € unsecured 2025 issue eased 4.1 per cent lower to €105.50 after four deals of 28,500 nominal.
In the sovereign debt market, of the 24 active issues, four rose, 19 fell and one remained unchanged. The 2.5 per cent MGS 2036 (I) r stock edged 0.3 per cent higher at €105.02, following 154 deals of 7,174,800 nominal. Total trading value stood at €17.3 million, of which 43.6 per cent was traded in the 4.65 per cent MGS 2032 (I) issue.
This article, which was compiled by Jesmond Mizzi, managing director of Jesmond Mizzi Financial Advisors Ltd, 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 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 at 1/2, St Joseph High Street, Ħamrun, or on Tel. 2122 4410 or e-mail jesmond.mizzi@jesmondmizzi.com.