In the equity market, the Malta Stock Exchange (MSE) index continued to lose ground for the second week running, as it closed 0.61 per cent lower at 4,715.17 points. Despite experiencing a mid-week appreciation, the MSE index closed on Friday at a five-week low.
In total, a dominant 11 out of 19 active issues fell in value and only three gained ground, with the rest closing unchanged on a turnover of €1.53 million.
The majority of the traded banking equities closed in the red. Bank of Valletta plc (BOV) registered a total turnover of €439,724, which was spread over 63 deals. The price of the equity marginally decreased by €0.01 to close the week at €2.20.
Meanwhile, its banking counterpart HSBC Bank Malta plc fell €0.03 to close at €2.05. The bank’s shares changed hands in 33 transactions which managed to generate a total turnover of €376,822.
Lombard Bank Malta plc’s equity surged 3.45 per cent to close the week at €2.40 after the approval of the financial statements and other recomendations at the bank’s annual general meeting. The spike was spread over five deals totalling €55,361.
Last Wednesday, the board of directors of Fimbank plc approved the consolidated audited financial statements for the year ended December 31, 2016. The group registered a profit before tax of $4,748,732, compared to the previous year’s loss of $12,048,217. Net interest income for the period under review amounted to $21,963,319, a decline of 25.8 per cent from the previous year. Earnings per share increased to $1.63. Similar to the three previous financial years, the directors will not be recommending the payment of a final dividend, but are suggesting a one-for-80 bonus issue to all shareholders. Last week, five deals of 50,000 shares were executed in this equity, which closed 1.11 per cent lower at $0.89.
In the telecommunications sector, GO plc announced the appointment of a new chief executive officer, Attila Keszeg, who will be filling this role as from June 1. Last week the equity experienced a slight dip of 0.85 per cent to close the week at €3.50. This was spread over eight deals that totalled to a market turnover of €44,614.
Malta International Airport plc (MIA) extended the previous week’s loss by a further 0.6 per cent to close the week at €4.125. This was spread over eight transactions worth €56,330.
Mapfre Middlesea plc’s decline in profits announced the previous week had a negative effect on its share price for the second week as its price declined by a further 1.83 per cent to close at €2.15 over a single deal of 500 shares
Mapfre Middlesea plc’s decline in profits announced the previous week had a negative effect on its share price for the second week as its price declined by a further 1.83 per cent to close at €2.15 over a single deal of 500 shares.
Maltapost plc registered a gain of 1.5 per cent to close the week at €2.03. This was spread over four deals of 7,300 shares.
RS2 Software plc shares experienced a marginal dip of 0.61 per cent to close at €1.64. Total turnover in the equity amounted to €23,503 spread over nine deals.
Tigné Mall plc shares declined by 3.45 per cent to close the week at €1.062. This was spread over five deals with a value €21,071.
Following suit was Plaza Centres plc, whose equity price decreased by 1.83 per cent to close at €1.07. The number of deals struck tallied to five as 22,658 shares changed hands.
Santumas Shareholdings plc gained 3.03 per cent to close at €1.70.
Grand Harbour Marina plc announced that its board of directors is scheduled to meet on the March 29 to approve the company’s financial statements for the financial year ending December 31, 2016.
Elsewhere, Global Capital plc equities plummeted by 11.39 per cent to close at an eight-month low of €0.35. This was spread over four deals worth €8,988. Following suit was Malita Investments plc – the equity registered a loss of 1.3 per cent to close the week at €0.76
Elsewhere International Hotel Investments plc (IHI), Simonds Farsons Cisk plc (SFC), Medserv plc, Midi plc and Malta Properties Company plc (MPC) closed flat at €0.64, €7.20, €1.60, €0.33 and €0.52 respectively.
In the sovereign debt market, a total of 18 stocks lost ground while eight managed a gain. Losses registered primarily during Friday’s session either reduced or wiped out any intra-week gains.
Total turnover slumped from €18.9 million to €8.6m. The 2.1 per cent MGS 2039 (I) suffered the worst loss of 3.1 per cent, having closed at €94.01.
Similarly, in the corporate debt market a total of 34 issues were active last week, of which 12 fell in value, 11 gained ground while the rest remained afloat as total turnover amounted to €1.7 million, up from €1.25m the previous week.
The 7.15 per cent Mediterranean Investments Holding plc euro 2015-2017 was the strongest performer last week as the price of the bond increased by two per cent to €100.
On the other hand, the worst performer was the four per cent Midi plc Secured € 2024 as its price contracted by 2.64 per cent to €101.50.
This article which was compiled by Jesmond Mizzi Financial Advisors Ltd, 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 Ltd at 67, Level 3, South Street, Valletta, or on Tel. 2122 4410, or e-mail info@jesmondmizzi.com.