The MSE Share Index opened the week on a positive note as it edged up by 0.14 per cent to a near two-week high of 4,569.830 points on robust volumes totalling nearly €642,000 – the highest in eight weeks. Trading activity was spread across twelve equities with seven registering gains, another three finishing unchanged whilst only MIA and Mapfre Middlesea ended in negative territory.
Trading activity in the equity of RS2 Software plc continued to be strong as 94,532 shares changed hands today having a market value of €358,000 – representing 55.8 per cent of the total value of equities traded today. The share price of RS2 closed 0.3 per cent higher at the €3.799 level. Shareholders as at close of trading on Thursday 19 May will be eligible to receive the recently recommended final net dividend of €0.0278 per share (payable on 30 June) subject to approval at the upcoming AGM to be held on 23 June.
The Directors are also recommending a bonus share issue of 1 new share for every 18 shares held (cut-off date: 19 May) and a 5 for 3 share split (cut-off date: 30 June).
Bank of Valletta plc advanced by 0.4 per cent to the €2.248 also on healthy volumes totalling 49,500 shares. The net interim dividend of €0.0254 per share will be paid on 27 May.
Two deals totalling 7,717 shares helped the equity of Simonds Farsons Cisk plc to advance by 1.6 per cent to regain its all-time high of €6.40. Last Thursday, the Farsons Group revealed its financial results for the year ended January 2016 in which it showed that pre-tax profits climbed to a record of €10.1 million.
The Directors recommended a final dividend (out of tax exempt profits) of €0.0733 per share, representing a 10.1 per cent increase over the final dividend paid out in respect of the previous financial year. This dividend will be paid on 30 June 2016 to all shareholders as at 25 May, subject to approval at the upcoming AGM scheduled to be held on 28 June.
GO plc touched an intra-day high of €3.60 before closing at the €3.57 level – representing a gain of 0.6 per cent over the previous closing price. A total of 15,175 shares changed hands today. The local media reported yesterday that two bonding offers received by GO plc were from Bahrain Telecoms Corporation (Batelco) and Tunisie Telecom. During last week’s AGM, GO confirmed that it will be selecting the preferred bidder by the end of the month.
A single deal of 3,000 shares pushed the equity of Medserv plc to its highest level in over five weeks of €1.81 (+0.8 per cent). The oil and gas logistics company is due to hold its Annual General Meeting (AGM) on 30 May.
Malta Properties Company plc failed to hold on to its intra-day high of €0.58 (+6.8 per cent) as it only finished 0.4 per cent higher at the €0.545 level across 23,000 shares. The Company’s AGM will be held on 2 June.
Within the same segment, MIDI plc regained the €0.389 level on trivial volumes. During last week’s AGM, the Company announced that, subject to regulatory approval, it intends to issue a €50 million 10-year secured bond and that part of such funds will be used to redeem its outstanding listed debt on the first redemption date possible – i.e. 15 December 2016.
Meanwhile, 6pm Holdings plc (33,272 shares) and FIMBank plc (6,600 shares) closed flat at GBP0.95 and USD0.85 respectively. 6pm will be holding its AGM on 21 June. In the meantime, shareholders are still awaiting updates regarding the interest of a number of investors to acquire the entire company.
A single deal of just 2,000 shares left the equity of Loqus Holdings plc unchanged at the €0.131 level.
Shallow volumes were also traded in Malta International Airport plc which eased by 0.7 per cent to the €4.34 level. MIA is due to settle the recently approved final net dividend of €0.07 per share on Thursday 19 May.
Mapfre Middlesea plc retreated by 1.8 per cent to the €2.20 level across 1,500 shares. Eligible shareholders will receive the recently approved net dividend of €0.03826 per share on 22 May.
On the bond market, the RF MGS Index advanced by 0.05 per cent to 1,147.228 points as yields on euro zone sovereign bonds were broadly lower this morning, with the 10-year benchmark German Bund easing from 0.14 per cent last Friday to a low of 0.12 per cent today. No particularly significant economic data was published today concerning the euro zone.
In the meantime, bond markets await the publication of euro zone inflation figures on Wednesday and for the minutes of the recent European Central Bank meeting on Thursday to assess the current economic health and prospects of the single currency block.