The MSE Index sustained last week’s positive performance by a further 0.8 per cent closing at 4,506.009 points after an all positive holiday shortened week. Elsewhere, the sovereign bond market was biased towards the negative side while corporate bond performances were more positive.
Trading in the equity market was spread across 13 equities of which six gained ground, five declined while two remained unchanged as turnover reached €603,000.
International Hotel Investments plc shares were undoubtedly the top performers for the week albeit on low turnover – two deals of 2,325 shares resulted in an increment of 3.1 per cent to close at €0.639.
Bank of Valletta plc shares also traded positively as 31 trades with a value of €122,000, helped the price increase by 2.2 per cent, to close at its weekly high of €2.28.
FIMBank plc shares rebounded by 1.8 per cent to close the week at $0.845. Total turnover was slightly lower than $143,000 and was spread across seven trades.
In the same sector, Lombard Bank Malta plc shares recouped all of last week’s losses as the equity appreciated by one per cent in value, to close at €2.101. Total volume traded amounted to 1,147 shares.
One deal of a mere 349 shares had a positive effect on the share price of Malta Properties Company plc, as the value rose from €0.585 to €0.60 – a percentage increase of 2.56.
In the telecommunications industry, GO plc shares traded eight times, for a total of 21,526 shares. This helped the equity to close in the black by 0.3 per cent as the closing price read €3.23.
Despite Malta International Airport plc announcing positive traffic results for the month of November on Tuesday, the share price still performed negatively over seven trades worth nearly €40,000. The price went down by 0.3 per cent, to close at €4.038.
The company registered a year on year growth of 22 per cent in passenger movements for the month of November – implying the highest monthly increase for 2016. The growth was in line with an increase of 17 per cent in airline movements and a 21.3 per cent increase in seating capacity – this was triggered by an enhanced winter schedule with 18 new connections for the season. The airport focuses on welcoming five million passengers before the year is through.
Last Tuesday, MaltaPost plc announced that its Board of Directors approved its audited financial statements for the year ended September 30, 2016. The company reported a profit before tax of €2.93 million, compared to the €3.38 million registered in 2015. Revenue for the period under review amounted to €27.92 million, a rise of 8.6 per cent from 2015. The board recommended for the approval of the AGM, the payment of a final gross dividend €0.0615 (net dividend of €0.04) per €0.25, with the option to receive the dividend either in cash or by the issue of new shares at the established attribution price of €1.85. If approved, the final dividend will be paid on February 27, 2017.
Nonetheless, this positive performance was not replicated by the equity’s performance as the share price fell by €0.005 or 0.3 per cent, to close at €1.875.
Medserv plc shares experienced a 1.1 per cent drop from last week’s closing price at €1.659. Five trades worth slightly over €11,000 result in this negative performance.
RS2 Software plc shares and Malita Investments plc also closed in the red, as trading volumes of €72,000 and €109,000 respectively dragged the prices 1.7 per cent and one per cent lower. More specifically, the price levels closed at €1.571 and €0.85.
HSBC Bank Malta plc and Santumas Shareholdings plc both closed the week unchanged at €1.855 and €1.26 respectively.
Last Tuesday, Santumas Shareholdings plc announced that on November 28, it booked revenues amounting to €1,194,084 arising from a material transaction which is expected to have a positive impact on the realised profits of the company and will be reflected in the company’s financial statements for the financial year ending April 30, 2017. This notwithstanding, the directors do not project the results for 2017 to be materially different from the profits shown the previous financial year in view of unrealised profits booked through a revaluation of investment properties.
The company also announced that the board of directors are scheduled to meet on December 15 to consider and, if deemed appropriate, approve the company’s Interim Financial Statements for the six months ending October 31, 2016.
In the corporate debt market, a total of 15 issues closed in the black, out of a total of 30 active issues. Five other issues declined and the remaining closed unchanged. On the other hand, on the sovereign debt front, 10 issues closed in positive territory while 16 others experienced losses. The largest decline was registered in the 2.5% Malta Government Stock 2036 as this closed at €105.93 – a fall of 0.9 per cent from last week’s closing price.
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 e-mail info@jesmondmizzi.com.