The Malta Stock Exchange index partially erased the previous week’s positive performance having declined by 0.23 per cent, to close at 4,568.285 points.
Turnover amounted to €1.4 million spread across 13 equities of which six fell in value, three gained ground and four closed unchanged.
FIMBank plc shares continued to rally having advanced by a further 4.3 per cent as 11 deals of 175,360 shares were struck, closing at $0.97.
Similarly, Lombard Bank Malta plc shares edged 2.8 per cent higher across seven trades of 190,757 shares, to close at €2.20.
On a negative note, HSBC Bank Malta plc shares oscillated between a weekly high of €1.61 and a low of €1.57, to ultimately close 1.9 per cent lower at €1.58. The equity was active on 23 trades of 104,301 shares.
Likewise, Bank of Valletta plc shares slipped by 0.9 per cent over 22 trades of 47,266 shares, closing at €2.229.
GO plc shares declined by a minimal 0.4 per cent over seven transactions of 8,600 shares, closing at €2.85.
Meanwhile, Malta Properties Company plc shares slid by 4.3 per cent across 11 trades of 49,215 shares, to close at €0.507.
International Hotel Investments plc shares witnessed two deals of 2,100 shares, closing 0.1 per cent lower at €0.699. Applications will be accepted throughout next week for the new secured bonds being offered by IHI plc of €55 million maturing in 2026 with a coupon of four per cent. The company is granting IHI shareholders who were on the company’s register at June 30, 2016, preference of up to €30 million to subscribe to the new bond, which will be issued at par.
Likewise, the applications for the new secured bond of €50 million, which is being offered by MIDI plc are also open. The new bond will mature in 2026 and holds a coupon of four per cent. The company will grant preference of up to €2m to its shareholders and €40.8 million to holders of the 7% MIDI plc 2016-2018 denominated in EUR and GBP.
Medserv plc shares advanced by 1.6 per cent as 37,524 shares changed ownership, to close €0.028 higher at €1.82.
Conversely, RS2 Software plc shares partially erased the previous week’s positive performance having declined by 0.6 per cent as 146,751 shares were struck, closing at €2.148.
Tigne Mall plc shares traded flat at €1.05 over a sole trade of 23,700 shares.
In the same sector, Plaza Centres plc reported an increase in profits before tax from €777,000 to €819,000, when compared to the first six months of 2015. Revenue for the period amounted to €1.3 million – up by 3.3 per cent from the comparable period of 2015. The company reports that occupancy level also improved and stood at 99 per cent by end of June 2016. Similar occupancy levels are expected for the second half of the year. Moreover, the board of directors did not propose the payment of an interim dividend. The equity was not active this week.
Simonds Farsons Cisk plc shares traded unchanged at €6.28 over two deals of 1,000 shares.
Likewise, Malita Investments plc shares remained unchanged at €0.89 as three deals of 13,000 shares were executed.
The other equity that closed flat for the week was Malta International Airport plc shares having closed unchanged at €4.25. The equity was active on 11 trades of 14,900 shares.
In the corporate bond market, turnover totalled €1.6 million spread across 35 issues of which 11 advanced, 18 fell and six closed unchanged. The 3.5% Bank of Valletta plc € Notes 2030 S1 T1 was the most liquid issue having witnessed a turnover of €413,976, closing 0.5 per cent higher at €99.50.
In the sovereign debt market, 24 issues were active of which 14 declined, nine rose and one closed unchanged. Turnover amounted to €7.3 million. The 5.1% MGS 2029 (I) was the best performer having increased by 0.6 per cent, to close at €145.10, while the 2.5% MGS 2036 (I) headed the list of laggards having slipped by 0.4 per cent, closing at €106.54.
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 .