The Malta Stock Exchange (MSE) index ended the week marginally in positive territory, up by 0.033 per cent to 4,705.291 points. Bank of Valletta plc (BOV), Malta International Airport plc (MIA) and HSBC Bank Malta plc were the major contributors towards this gain – offsetting declines in other equities, namely International Hotel Investments plc (IHI), Mapfre Middlesea plc, Lombard Bank Malta plc and Malta Properties Company plc (MPC).
A total of 12 equities were active last week of which five gained ground and seven fell, spread over a total turnover of €804,747.
BOV shares outshined its peers as the equity managed to notch a fresh nine-year high at €2.22, generating over 50 per cent of last week’s total turnover.
Meanwhile, HSBC oscillated between positive and negative ground, before making a strong late run last Thursday as the equity closed 0.3 per cent higher at €2.087. A total turnover of €57,946 was generated in 11 deals. Last Thursday, HSBC held its annual general meeting, whereby all items on the agenda were approved, including the payment of a final gross dividend of 4.1 cents per share.
On a negative note, two deals amounting to 3,099 shares saw Lombard Bank plc decline 0.4 per cent from its multi-year high of €2.499, to end the week at €2.488.
MIA partially recouped from its previous week’s decline as the equity registered an advance of 2.4 per cent to close at €4.19. A total of 21 transactions generated a total turnover of €113,401.
After close of trading on April 7, MIA announced that during the period November to March it welcomed over 1.6 million passengers, a 25 per cent upturn in traffic. This growth was reached on the back of a 19 per cent rise in aircraft movements and a 26 per cent improvement in seat capacity. The top five contributors to traffic during the winter months were the UK, Italy, Germany, Belgium and France.
The season closed off with March registering a 53,795 rise in passenger movements over the same month in 2016, even though last year the Easter effect was registered in March.
Last month also marked the launch of two new routes – Katowice in Poland and Cluj-Napoca in Romania, with more new connections expected to start operations in the coming weeks.
Maltapost plc shares reached a fresh nine-week high last Tuesday of €2.05, albeit falling short in the following session as it ended the week at €2.03. Seven deals generated a total turnover of €40,845.
RS2 Software plc shares closed marginally lower as advances earlier in the week were offset in Thursday’s session. The equity ended the week at €1.60 after retreating from a four-week high of €1.65 intra-week. It was active in a total of 11 deals, worth €57,295. On Friday, RS2 announced that its board of directors is to meet on Tuesday to approve the company’s financial statements for the year ended December 31, 2016, and to decide on whether to recommend a dividend or not.
In the property sector, Midi plc shares were the best performer among its peers as the equity closed 1.6 per cent higher at €0.315 after three deals of 16,000 shares.
Malta Properties Company plc (MPC) was last week’s weakest performer as the equity closed 5.5 per cent down at €0.515 – a three-week low. Last Monday MPC announced that the company’s second AGM will held on May 25. It also said that, subject to shareholders’ confirmation, no dividend will be paid.
Malita Investments plc followed suit as the equity closed 1.3 per cent lower to a 26-month low of €0.74. Total turnover in the equity amounted to €18,470 spread over three deals. Last Tuesday, the company announced that at the company’s AGM on April 27, among other resolutions, shareholders will discuss the directors’ recommendation to declare a final gross dividend of 2.28 cents per share.
Go plc shares hit a one-month low at €3.489 as 11 deals generated a total turnover of €47,374. On April 7, Go announced that at the company’s AGM on May 3, among other resolutions, shareholders will be asked to approve the payment of a net dividend of 11 cents per share.
Last Thursday, Simonds Farsons Cisk plc (SFC) announced that the board of directors will meet on May 4 to consider and approve the audited financial results for the year ended January 31, 2017. It will also consider the declaration or otherwise of a final dividend to be recommended at the AGM scheduled for June 27. No trading took place in the equity throughout the week.
A single deal of 200 shares last Wednesday in Mapfre Middlesea plc saw the equity’s price plunge 3.2 per cent to hit a four-month low of €2.12. Another solitary deal with a turnover of €22,470 in IHI saw the equity erase its previous week’s gains as its share price closed 1.1 per cent lower at €0.642. Last Wednesday IHI announced that its AGM will be held on June 13.
In the sovereign debt market, all 21 active issues registered minimal movements during the week, with gainers and fallers tallied at 10 and one closing unchanged. The 2.1 per cent MGS 2039 (I) r registered the best performance, gaining 1.1 per cent to €97.03 – as 26 deals generated a total turnover of €665,594.
Meanwhile, the 2.3 per cent MGS 2029 (II) registered last week’s highest turnover, amounting to 23 per cent of the total turnover, but it price rose by a minimal 0.03 per cent to €107.72.
In the corporate debt market, a total of 32 issues were active, of which 15 closed higher, 11 lost ground, while the remaining six issues remained afloat.
The newly issued 4.4 per cent Von der Heyden Group Finance plc Unsecured € 2024 registered the highest turnover during the week of €109,105 as the bond price inched 0.2 per cent higher to close at €100.20.
The week’s weakest performer was the seven per cent Grand Harbour Marina plc € 2017-2020 as the price contracted by 2.9 per cent to close at €100 after a single deal of 3,000 nominal units.
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.