The MSE Equity Total Return Index oscillated in positive and negative territory as the index declined by 0.45 per cent to close at 8,937.084 points. The index experienced the largest decline in a single session year-to-date on Wednesday, managing to recoup most of the decline during Friday’ session – as Bank of Valletta plc shares fell ex-rights this week.
A total of 18 equities were active of which the absolute majority amounting to 12 gained ground, while three headed south. Total turnover marginally declined from €2.84 million to €2.72 million.
Bank of Valletta plc (BOV) shares closed the week €0.10 or 4.8 per cent lower at €2.00, having traded at a low of €1.83 having recovered by 8.1 per cent during yesterday’s sessions as turnover reached €1.25 million over 136 trades.
On Monday, BOV reported that it had submitted of an application for authorisation and admissibility to listing to the Listing Authority requesting the approval of a prospectus in relation to the Rights Issue. The Rights Issue will be offered to existing shareholders who appeared on the register of members as at the close of business on Thursday.
The Rights Issue will be offered to existing shareholders appearing on the Issuers’ register of members as at close of business on Thursday. Shareholders will be entitled to one ordinary share for every four ordinary shares held.
Yesterday, the BOV Group published its interim results for the 12-month period ended September 30, 2017, and is reporting a pre-tax profit of €143.9 million for that period.
This compares to a pre-tax profit of €145.9 million for the corresponding period last year. The latter result included a one-time windfall gain of €27.5 million, resulting in an adjusted comparable profit last year of €118.4 million. Earnings per share increased to €0.233 from €0.226 in 2016.
Group total income rose marginally over last year, to reach €256.4 million.
Lombard Bank plc and HSBC Bank Malta plc shares both headed in positive territory.
Lombard shares added on 4.6 per cent to its share price to close the week at €2.30, while HSBC shares followed suit as the equity gained a marginal 0.2 per cent, closing at €1.859, having traded at a weekly high of €1.90.
Malta International Airport plc shares hit an all-time high on Thursday as the equity reached the €4.80 price level.
The equity closed higher for the eighth consecutive week at €4.79 as a total turnover of €437,437 was generated among 34 transactions.
Similarly, Simonds Farsons Cisk plc shares reached a fresh all-time high, as 1,631 shares spread over three deals managed to push the price 1.90 per cent higher to €9.65.
Retail conglomerate, PG plc settled back to its all-time high at €1.50. A total of seven trades managed to generate a total turnover of €66,229.
RS2 Software plc shares registered one of the weakest performances during the week as the equity contracted by 4.7 per cent to close at €1.60. A total of 20 transactions managed to generate a total turnover of €91,396.
Insurance firm, Mapfre Middlesea plc traded twice on Tuesday over 10,000 shares, pushing the price by 3.6 per cent to €1.927. Also on Tuesday, four deals amounting to a turnover of €11,748, managed to add on one per cent to Maltapost plc shares.
On the contrary, International Hotel Investments plc shares closed the week 0.7 per cent lower at €0.61 as an abnormal turnover of 731,782 was generated among 13 transactions.
In the property sector, Plaza Centres plc, MIDI plc and Malita Investments plc, all registered gains in excess of five per cent. Malita shares managed to outperform its peers registering a gain of 6.7 per cent, closing at €0.80. Meanwhile, Plaza and MIDI shares both closed 5.6 per cent higher, at €1.109 and €0.319 respectively.
To a lesser extent their peers, Malta Properties Company plc and Tigne Mall plc registered a gain of 0.6 per cent and 0.5per cent, closing at €0.507 and €0.96 respectively.
Elsewhere, Medserv plc, GO plc and Santumas Shareholdings plc all closed flat at €1.26, €3.59 and €2.25 respectively.
In the Local Sovereign Debt market, the absolute majority of the active issues headed into negative territory, as from the 23 active only four gained ground.
The 4.3% MGS 2033(II) R broke a three week winning streak as the bond price declined by 0.8% to close at €132.93.
In the local corporate debt front, a total of 42 issues were active of which 19 closed higher, while 12 declined. The newly listed Mediterranean Bank plc 5% Subordinated Unsecured Bonds 2027 managed to gain 2.5 per cent from its opening price to close the week at €102.50.
Yesterday, Anchovy Studios plc announced that it had entered into agreements as part of a wider transaction which will result, on completion, in the Company being allotted 22,500 shares in Fetchit Technologies Limited – a start-up looking to offer logistics solutions to the local market.