The Malta Stock Exchange index registered its 10th consecutive weekly decline as it fell by a further 1.2 per cent this week, to close at 3,309.69 points.
Turnover amounted to €700,743 spread across 14 equities of which six declined, five appreciated and two closed unchanged.
GlobalCapital plc shares were the worst performers, while Plaza Centres plc shares headed the list of gainers.
Bank of Valletta plc shares plunged by €0.05 or 2.4 per cent across the highest turnover of 202,529 shares, closing at €2.05.
Likewise, HSBC Bank Malta plc shares shed 2.9 per cent over 19 deals of 22,339 shares, to close €0.059 lower at €2.011.
Conversely, Lombard Bank plc shares edged 0.3 per cent higher as two transactions of 8,265 shares were struck, closing at €1.465.
In the IT sector, Crimsonwing plc shares dropped by 2.3 per cent on the week – having recovered from a 5.7 per cent loss on Wednesday – across two trades of 5,560 shares, to close at €0.84. After close of trading on Thursday, the company reported that the board of directors have become aware that a number of potential bidders have shown interest in the company. This interest has been communicated to certain substantial shareholders who have intimated their wish that the company pursues the interest shown by potential bidders. The board has resolved that at the forthcoming annual general meeting it shall propose, for the consideration of shareholders, a resolution seeking to authorise it to provide to any bona fide offeror for shares in the company such information as may be required within the ambits of Listing Rule 5.174 to enable any such bona fide offeror to make, confirm, withdraw or modify an offer.
Similarly, RS2 Software plc failed to extend its recent streak of gains as its share price stumbled by 2.6 per cent across seven transactions of 8,800 shares, to close €0.07 lower at €2.65.
On a positive note, Plaza Centres plc shares fully recovered last week’s losses as they advanced by €0.03 or 5.4 per cent, to close at €0.59. The equity was active across nine deals of 38,000 shares.
Tigne Mall plc shares gained 1.8 per cent as two trades of 15,000 shares were negotiated, to close at €0.52.
Malta International Airport plc shares advanced by a further 0.7 per cent over four transactions of 5,618 shares, to close at €2.29. The company announced that Michael Bianchi has resigned from his position as director of the company due to personal reasons.
The share price of Go plc strengthened by 1.5 per cent across 10 trades of 13,600 shares, closing the week €0.03 higher at €2.04.
During yesterday’s session, Medserv plc shares sagged by 1.6 per cent to €1.22 on a single deal of 2,000 shares.
Meanwhile, GlobalCapital plc shares took a 12.1 per cent pounding as three deals of 1,200 shares were executed on Tuesday, closing at €0.659.
The non-movers for the week were Middlesea Insurance plc and Malita Investments plc both closing flat at €0.88 and €0.55 respectively. The former witnessed one transaction of 2,460 shares, while the latter was active across six trades of 216,000 shares.
On Tuesday, the board of directors of Island Hotels Group Holdings plc presented their interim report together with the unaudited interim condensed financial statements of the group for the six months ending April 30, 2014. The company registered a loss before tax of €1.67 million compared to a loss of €2.03 million in 2013. This figure excludes the profit on disposal of €2.1 million on the group’s sale of its 100 per cent equity interest in Coastline Hotel Limited as this transaction occurred after the reporting date. Revenue for the period under review amounted to €12 million, a 12 per cent increase compared to 2013. No trading took place in this equity.
In the corporate bond market activity was spread across 24 issues amounting to a value of just under €1.4 million. Nine issues registered an increase in their value, nine declined and seven closed unchanged.
In contrast to the equity’s share price, the 5.6% GlobalCapital plc € 2014/16 was the top performer as it appreciated by 3.5 per cent.
Tumas Investments plc reported that it will be redeeming its 6.25% Bonds 2014-2016 on July 31, 2014. Furthermore, subject to regulatory approval, a new €25 million bond issue will be offered to present holders of the 6.25% Bond 2014-2016 giving them the opportunity to exchange their bonds for the new bonds to be issued. Last Wednesday was the bond’s last trading day, while next Monday, June 30, will be the cut-off date.
Lastly, investors appeared to be more geared towards the sovereign debt market as out of 19 active issues, 17 strengthened in value and only two short dated issues declined minimally.
The best gain of 2.2 per cent was registered in the 5.2% MGS 2031 (I), while the recently issued 4.3% MGS 2033 (I) r was the most liquid issue as it witnessed a traded value of €4.58 million.
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: 2122 4410, or e-mail info@jesmondmizzi.com.