The MSE Index ended the week in positive territory, with a 0.11 per cent increase closing at 4,550.729 points. A total of 15 equities were active, of which six gained ground, four slipped, while five remained afloat. Turnover in the equity market spiked from €1.14m to €2.85m
Bank of Valletta plc traded higher as its share price appreciated by 0.66 per cent, registering an adjusted yearly high of €2.305, with a total turnover of just over €1m, spread over 49 deals, in anticipation of the bank’s annual results. In fact, after close of business yesterday, the bank announced its financial year end results as at September 30, 2016, reporting a profit before tax of €145.9m, after accounting for a one off gain resulting from the proceeds of sale of their interest in VISA Europe of €27.5m. In addition the board resolved to recommend, for approval of the AGM, the payment of final gross dividend of €0.0852 and also a bonus share issue of one for every 13 shares held.
HSBC Bank Malta plc continued to maintain its rally for the fourth consecutive week, adding a further 0.53 per cent on its previous gains, to close the week at €1.91, with a total trade value of around €247k spread over 56 transactions.
Meanwhile, the share price of FIMBank plc maintained last week’s closing price at $ 0.88, spread over two trades of 12,517 shares.
Mapfre Middlesea plc shares moved 0.55 per cent higher, closing the week at €2.011c, spread over three transactions with a turnover of €4.5k.
A single trade of 2,000 shares in Lombard Bank Malta plc failed to veer the equity’s price, leaving the price unchanged at €2.18.
GO plc shares remained upbeat for the second consecutive week registering a gain of almost one per cent, closing the week at €3.23 with a turnover of almost €64k spread over six trades.
RS2 Software plc shares managed to rebound from its rocky start earlier in the week closing flat at €1.50, registering the second largest turnover of the week of € 965k.
After being inactive last week, Simonds Farsons Cisk plc shares plunged by 3.57 per cent, closing the week at €6.75, spread over three transaction on low volumes.
Malta Properties Company plc oscillated between positive and negative ground closing the week in negative territory, as it declined by 1.61 per cent with a trade value of €37k spread over 16 trades.
Also on a negative note, a single trade of 4,000 shares in GlobalCapital plc dragged the price down 4.26 per cent to €0.45 adding to last week’s four per cent loss.
International Hotel Investments plc remained flat at €0.66c as 8,000 shares changed hands. .
Malta International Airport plc shares declined for the third consecutive week, having eased 0.12 per cent to €4.145 with a total trade value of €144k, spread over 21 trades.
In the oil and gas industry, Medserv plc climbed by 0.60 per cent, closing at €1.509 over high volumes amounting to 229k shares.
In the property sector, one trade of 7,000 shares in MIDI plc left its price unchanged at €0.325.
Loqus Holdings plc shares also locked a positive return, as its share price advanced by 0.7 per cent to €0.14 on a thin volume of 400 shares.
In the corporate bond market, a total of 34 issues were traded reaching a turnover of €2m.
The majority of the traded issues remained afloat, 11 declined and 10 gained ground.
Premier Capital plc announced the approval of a €65 million Unsecured Bond Issue, with a coupon of 3.75 per cent and maturing in 2026, issued at par. Current bondholders of the 6.8% Premier Capital plc 2017-2020, to be redeemed on March 16, 2017, have a reserved amount of €30 million. Preference of up to €3 million is being granted to shareholders, directors or employees of Hili Ventures Limited, while a further €12 million will be reserved to bondholders of Hili Properties and PTL Holdings.
In the sovereign debt market, turnover fell from €19.7 million to €14.7m All but one of the 26 traded issues closed the week lower following last week’s rally. Yesterday, The Treasury announced that all applications in the 1.5 per cent MGS 2022 (IV) Fungibility Issue were accepted in full, while applications in the 2.1 per cent MGS 2039 (I) up to and including 45,000 in nominal terms shall be met in full, while applications above 45,000 in nominal terms shall receive a minimum of 45,000 nominal per applicant plus an additional 11 per cent of the remaining unallocated balance per applicant rounded up to the nearest 100.
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. Mr. Jesmond Mizzi, Managing Director of Jesmond Mizzi Financial Advisors, is a non-executive director of Hili Ventures Limited, the parent company of Premier Capital plc. For further information contact Jesmond Mizzi Financial Advisors Limited at 67, Level 3, South Street, Valletta, or on Tel: 21224410, or email info@jesmondmizzi.com.