The Malta Stock Exchange index recouped yesterday by a minimal 0.1 per cent, to close at 4,470.277 points – thus registering a two per cent drop in July – in sharp contrast to gains registered in global equity indices.
Turnover amounted to €594,049 spread across 13 equities of which four gained ground, seven declined and two closed unchanged.
During the week, HSBC Bank Malta plc shares appreciated by €0.03 or 1.9 per cent over 28 deals of 92,645 shares, closing at €1.60.
Similarly, Bank of Valletta plc shares advanced by 0.5 per cent across 32 trades of 93,284 shares, to close at €2.22.
Meanwhile, FIMBank plc shares partially erased the previous week’s gains having inched 0.4 per cent lower over the highest volume for the week of 131,000 shares, closing at $1.015. Likewise, the share price of Lombard Bank Malta plc shares eased 0.04 per cent to €2.249 across two trades of 3,300 shares.
GlobalCapital plc shares headed the list of fallers having declined by €0.149 or 29.9 per cent over a sole transaction yesterday of a mere 240 shares, closing at €0.35. The equity has recorded a 53.3 per cent decline year-to-date.
GO plc shares edged 0.7 per cent lower as seven trades of 18,199 shares were struck, closing at €2.80. On Thursday, GO published a press release in which Tunisie Telecom announced that it has received acceptances in respect of over 66 million shares – amounting to 65.4 per cent of the total issued share capital of GO. GO shareholders who have accepted the voluntary bid are entitled to receive a cash consideration of €2.87 per share once the transaction is completed.
Malta International Airport plc shares partially erased the previous week’s positive performance having decreased by €0.05 or 1.2 per cent over two deals of 2,495 shares, closing at €4.20. On a similar note, MaltaPost plc shares slipped by 1.1 per cent on a sole trade of 1,100 shares executed at €1.88
Mapfre Middlesea plc shares rose by €0.032 or 1.6 per cent across two transactions of 800 shares, closing at €2.042.
MIDI plc shares also closed in positive territory, having edged 0.5 per cent higher over four deals of 25,800 shares, to close at €0.379.
RS2 Software plc shares registered a decline for the fourth consecutive week having dipped 0.5 per cent as 7,949 shares changed hands, closing at €2.
Malita Investments plc shares traded flat at €0.89 across two transactions of 5,600 shares. The company announced that the board of directors is scheduled to meet on August 4, to approve the company’s interim financial statements for the six months ended June 30, 2016 and to consider the payment of an interim dividend.
The other non-movers for the week were Malta Properties Company plc shares having closed unchanged at €0.507. The equity witnessed eight deals of 37,444 shares.
Medserv plc announced a management restructuring exercise designed to ensure both the efficient management of the growing business, as well as to address succession planning. The equity was not active this week.
In the corporate bond market, 30 issues were active of which 13 fell in value, six increased and 11 closed unchanged as turnover amounted to €945,383.
The 7.15% Mediterranean Investments Holding plc USD 2015-2017 was the most liquid issue as 152,500 nominal changed hands.
During the week, both MIDI and IHI announced their basis of acceptance for the new Secured Bonds.
MIDI plc announced that according to the basis of acceptance for the issue of €50 million 4% MIDI plc Secured Bonds 2026, existing bond holders shall receive the amount rolled over in full together with a further amount based on allocation basis applied for the general public.
The public shall received the first €1,000 of the unsatisfied amount and 16.887 per cent on the remaining amount rounded to the nearest €100. Similarly shareholders shall receive the first €1,000 in full and 9.545 per cent on the remaining balance with the unsatisfied amounts being further considered for allocation on a pari passu basis with applications received from the general public. Trading is expected to commence on August 4, 2016.
IHI announced that with respect to the basis of acceptance for the issue of €55 million 4% Secured Bonds 2026, shareholders will be allocated the first €20,000 of bonds and 27.465 per cent of the unsatisfied amount, rounded to the nearest €100. Applications submitted by the public will be allocated a guaranteed minimum of €1,000 and 20.357 per cent of amounts applied for in excess of €1,000, rounded to the nearest €100. Trading on the Malta Stock Exchange is expected to commence on August 8, 2016.
In the sovereign debt market turnover totalled €19 million spread across 24 issues of which 18 declined and six edged higher. The 3.3% MGS 2024 (I) headed the list of gainers having increased by 0.3 per cent, to close at €120.71, while the 2.5% MGS 2036 (I) was the worst performer having declined by 1.2 per cent, closing at €105.26. The latter was the most liquid issue having witnessed a turnover of €7.5 million.
On Thursday, the Accountant General announced the price for the new Malta Government Stocks issues. The price for the 1.5% MGS 2022 (IV) Fungibility Issue was set at €107.25 with a yield to maturity of 0.266 per cent, while the 2.4% MGS 2041 (I) issue was priced at €101.75, thus yielding 2.307 per cent. Applications will open on Monday, August 1, and close on Wednesday, August 3, or earlier at the discretion of the Accountant General.
This article, 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.