The MSE index erased last week’s decline having closed 0.504 per cent higher at 4,699.820 points. The week was characterised by volatility in the equity market with gains and losses registered by individual share prices which swayed between highs of 24.5 per cent to lows of 9.1 per cent – with the newly listed equity, PG plc being the main protagonist. A total of 15 equities were active during the week of which six gained ground, eight headed south, while one closed flat.
PG plc shares soared by 24.5 per cent since being admitted to listing on Thursday to close the week at €1.245. The Initial Public Offering was the first in the last four years with the anticipation for the listing being reflected on the equities turnover – accounting for 48.5 per cent of the total weekly turnover. PG Group plc mainly comprises operations of PAMA Shopping Village, PAVI Shopping Complex as well as Zara and the Zara Home Franchise at Alhambra and PAMA Outlets.
After closing flat last week Bank of Valletta plc shares closed the week in negative territory losing one cent of its opening price to close at €2.24 – as 47 trades generated a total turnover of €326,165. Meanwhile, banking counterpart HSBC Bank Malta plc made a strong late run as the equity reached highs of €2.05 to lows of €1.98, to close at €2.049 – reaching its lowest levels since January 2017 intra-week.
Lombard Bank plc shares outperformed its peers over a slim volume as the equity managed to notch 1.3 per cent to close at €2.43. In the property sector MIDI plc registered the strongest performance with its property counterparts, registering a gain of 1.3 per cent to close at €0.304 – as three trades generated a total turnover of €6,215. Meanwhile three trades of 55,000 shares in Tigne Mall plc saw the equity hit its lowest level since August 2016 to close 9.1 per cent lower at €1.00.
In the same industry, Malta Properties Company plc followed suit as nine transactions amounting to €24,519 contracted the equity’s price by 1.4 per cent to close at €0.51 – hitting a six week low.
Similarly in the oil and gas industry, Medserv plc shares closed lower for the second consecutive week, declining by 3.5 per cent to close at €1.399 – hitting its lowest levels since September 2015.
RS2 Software plc shares recouped the absolute majority of last week’s decline as the equity appreciated by 4.7 per cent to close the week at €1.57. The equity managed to generate a total turnover of €343,630 spread over 24 deals.
On Wednesday, GlobalCapital plc announced that the Annual General Meeting of the Company will be held on Friday June 23, 2017. After registering the largest decline during last week, a single trade of 20,000 shares in GlobalCapital plc managed to recover more than half of last week’s decline as the equity closed the week at €0.32. In the same sector a single trade of 2,000 shares in Mapfre Middlesea plc saw the equity hit its lowest levels since November 2016 to close at €2.07
In the telecommunications sector, GO plc shares maintained last week’s positive performance as the equity managed to add on 0.3 per cent to its share price to close at €3.498 – as 10 trades saw 27,945 shares being exchanged.
On a negative note, six trades amounting to 5,038 shares in Malta International Airport plc saw the equity lose one cent from its opening price to close 0.2 per cent lower at €4.14. Two trades amounting to a total turnover of €6,206 in Maltapost plc saw the equity close 2.4 per cent lower at €2.00 –hitting a two week low. Elsewhere, a single trade of 6,000 shares in International Hotel Investments plc did not manage to veer the equities price to close flat at €0.64
Simonds Farsons Cisk plc registered a record annual profit of €12.1 million for the year to January 2017, compared to €11.2million during the previous financial year. The group’s revenue for the period under review amounted to €88.1million, a rise of 2.4 % from 2016. EPS increased from €0.374 to €0.404. The strong performance was registered across the Group on varying levels. Throughout the year, management has continued to drive forward and implement diverse measures aimed at further improving productivity and overall efficiency along with higher quality standards.
The Board of Directors of Simonds Farsons Cisk plc has resolved to recommend for the approval of the Annual General Meeting the distribution, out of tax exempt profits, a final net dividend of €2.4 million that is €0.08 per ordinary share of €0.30, to be paid on June 28, 2017.
In the corporate debt market, a total of 27 issues were active during the week of which eight gained ground, 11 headed south, eight closed flat. The 5.8% International Hotel Investments plc 2021 generated the highest turnover during the week as five trades generated a total turnover of €127,801.
The newly listed 4.35% SD Finance plc unsecured € 2027 was admitted to the market on Thursday, and commenced trading yesterday, as a single trade of a nominal 10,000 saw the bond price increase by 2 per cent to close €101.99. Meanwhile, on Tuesday, a new bond was admitted to trading after obtain approval under the prospects programme. The new is as the 5.5 per cent IG Finance plc Unsecured € Bonds 2024-2027.