The Malta Stock Exchange (MSE) Index registered its fourth consecutive weekly decline having closed the week at 4,433.079 points and thus registering a 0.89 per cent drop. Turnover amounted to €1.5m spread across 17 equities of which 10 fell in value, three gained ground and four closed unchanged.
MaltaPost plc shares headed the list of fallers having declined by €0.119 or 6.2 per cent over one transaction of 2,000 shares, to close at €1.801. Similarly, International Hotel Investments plc slipped by a further 2.9 per cent across 10 trades of 38,316 shares, closing at €0.63.
In the banking sector, HSBC Bank Malta plc shares eased 0.1 per cent lower over 17 deals of 51,515 shares, to close at €1.60. The bank announced that the board meeting scheduled for August 5, has been rescheduled for August 3, to consider and approve the Group’s and the Bank’s Interim Accounts for the half-year ending 30 June and if thought appropriate, declare an interim dividend.
Bank of Valletta plc shares declined by 0.9 per cent as 37,522 shares changed ownership, closing at €2.22. Likewise, FIMBank plc shares stumbled by 3.2 per cent over 18 transactions of 90,205 shares, to close at $0.82.
Elsewhere, GO plc shares gained 0.5 per cent following the previous week’s hefty losses, as 20 trades of 37,115 shares were executed, closing at €2.90.
The company announced that Tunisie Telecom has clarified its intention to maintain GO’s status as a public listed company with shares traded on the Malta Stock Exchange, as far as it remains in compliance with the Listing Rules. Therefore, it will not be actively seeking to reach the thresholds stipulated for a mandatory squeeze out nor the related implementation of de-listing mechanics. Nizar Bouguila, Chairman and Chief Executive Officer of Tunisie Telecom, expressed his enthusiasm to support GO’s growth opportunities both domestically and as part of the wider group and the importance of maintaining a strong local shareholder base to benefit from the strong public and customer support.
Malta Properties Company plc shares gained a minimal 0.2 per cent over 15 deals of 61,111 shares, to close at €0.511.
Meanwhile, Malta International Airport plc shares closed unchanged at €4.30 as 87,800 shares changed hands over 16 trades. On Friday, the local airport operator reported that it welcomed 476,575 passengers in May – up by 7.8 per cent from May 2015. This record brings the airport to its 50th consecutive month on month growth.
In the I.T. sector, RS2 Software plc shares registered a decline for the fourth consecutive week having slipped by one per cent, to close at €3.465. The equity was active on 17 deals of 60,168 shares. Meanwhile, 6pm Holdings plc shares traded flat at £0.95 over a single trade of a mere 731 shares. Likewise, Loqus Holdings plc shares closed unchanged at €0.131 as two transactions of 3,424 shares were negotiated.
Plaza Centres plc shares fell by 0.9 per cent across four trades of 37,226 shares, closing at €1.07. The company announced that during last Monday’s Annual General Meeting (AGM), the shareholders approved the payment of a final ordinary net dividend of €0.0286 per share.
Tigne Mall plc announced that its Annual General Meeting will be held on June 24, to approve the Audited Financial Statements for the year ended December 31, 2015 and the declaration of a final net dividend of €0.0125 per €0.50 share. The equity was not active this week.
Medserv plc shares slipped by 0.6 per cent over 12 trades of 35,660 shares, closing at €1.75.
Simonds Farsons Cisk plc shares plunged by €0.10 or 1.6 per cent as seven trades of 53,854 shares were struck, closing at €6.30. Similarly, MIDI plc shares declined by a further one per cent over two deals of 16,000 shares, to close at €0.384. Conversely, the share price of Mapfre Middlesea plc strengthened by 0.5 per cent across three trades of 2,207 shares, closing at €2.21.
The other non-movers for the week were Malita Investments plc shares having closed at €0.90. The equity was active on nine transactions of 112,210 shares.
In the corporate bond market 28 issues were active of which 10 decreased in value, seven advanced and 11 closed unchanged as turnover amounted to €1m. The 5.1 per cent 6PM Holdings plc Unsecured 2025 was the most liquid issue having witnessed a turnover of €294k, closing 1.3 per cent higher at €111.
On Monday, GlobalCapital plc announced the extension of the offer period of the €10m GlobalCapital plc five per cent unsecured bonds 2021 issue to June 8. In the same announcement, the company outlined the commitment from both its majority shareholder, Investar p.l.c. and its Sponsor to subscribe directly, or through third parties up to €5m nominal each in the event that the bond is not fully subscribed.
In the sovereign debt market turnover totalled €3.8m spread across 22 issues of which 18 slipped and four gained ground. The 4.3 per cent MGS 2033 (I) was the worst performer having declined by 0.7 per cent, to close at €135.01, while the 4.45 per cent MGS 2032 (II) headed the list of gainers having closed at €136.86.
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: 21224410, or email info@jesmondmizzi.com.