The Malta Stock Exchange index ended this four-day trading week 0.85 per cent higher, closing at 3,526.20 points.
A total of 14 equities were active throughout the week of which five gained ground, three declined and six closed unchanged.
6pm Holdings plc was the top performing equity for the week, while MaltaPost plc shares headed the list of fallers.
Only two equities were active in the banking industry.
The share price of Bank of Valletta plc appreciated by a significant three per cent or €0.07, as 36 trades of 76,014 shares were struck, closing at €2.37. The board of directors is scheduled to meet on April 25 to consider and approve the group’s and the bank’s interim financial statements for the six months ended March 31, 2014 and, if thought fit, declare an interim dividend.
HSBC Bank Malta plc shares closed unchanged at €2.38 across the highest turnover for the week of 108,794 shares. The bank held its annual general meeting last Wednesday, at which all the ordinary resolutions on the agenda were approved in accordance with the bank’s memorandum and articles of association. The issuance of one new share for every nine shares presently held to registered members as at close of trading on the MSE on April 29, 2014, was also approved. These bonus shares will be available for trading by shareholders at the opening of business on April 30, 2014.
MaltaPost plc shares plunged by 8.1 per cent on Thursday over a single transaction of 1,000 shares, to close €0.09 lower at €1.02. The postal operator’s share price is down 11.3 per cent year to date.
Meanwhile, Malta International Airport plc shares slipped by a slight 0.4 per cent over two deals of 4,355 shares, closing at €2.311.
On a positive note, 6pm shares rallied by 6.4 per cent or £0.045 across four trades of 32,000 shares, to close at an all-time high of £0.75. The board of directors of the company approved the financial statements for the financial year ended December 31, 2013 – to be submitted for the approval of the shareholders at the forthcoming AGM on June 19.
The board of directors further resolved to recommend the payment of a net final dividend of £0.02 per share. If approved at the AGM, this dividend will be paid by not later than June 30 to shareholders that appear on the shareholders’ register as at May 20. The directors further proposed that a bonus issue of one share for every 25 shares held on May 20 equivalent to £158,242 is allocated from the share premium account.
The company registered a profit before tax of £637,805 compared to £433,586 registered in 2012. Revenue for the period under review amounted to £9.25 million, an increase of 29 per cent from 2012. Increased revenues were mainly due to a specific project with the NHS, which generated the biggest sale in the group’s history. The group also capitalised from the synergies within the group companies, a trend which is expected to continue in the years to come.
During Tuesday’s session, RS2 Software plc shares fell by 0.4 per cent over one trade of 250 shares, closing at €2.42. The company’s AGM is scheduled to be held on June 11.
Meanwhile, Crimsonwing plc shares traded flat at €0.87 also on a single deal of 1,500 shares.
Simonds Farsons Cisk plc shares closed the week unchanged at €3.00, despite having reached a weekly low of €2.93. The equity was negotiated across four deals of 6,010 shares. The board of directors of the company will be meeting on April 30 to consider and approve the financial results for the year ended January 31 and to consider the declaration or otherwise of a final dividend to be recommended to the AGM – scheduled for June 18.
In the hoteliers sector, International Hotel Investments plc shares traded unchanged at €0.83 over four trades of 13,012 shares. The financial statements for the year ended December 31 will be reviewed by the board of directors of the company on Tuesday.
On the other hand, Island Hotels Group Holdings plc shares appreciated by €0.05 or 6.3 per cent, as 1,000 shares changed hands, closing at €0.85.
Go plc shares soared by two per cent over nine deals of 22,027 shares, closing €0.04 higher at €2.00.
Meanwhile, Malita Investments plc shares edged 0.9 per cent higher across seven trades of 52,400 shares, to close at €0.54.
The other non-movers for the week were Middlesea Insurance plc and Medserv plc shares closing unchanged at €0.91 and €1.30 respectively. The former witnessed two deals of 2,864 shares, while the latter was active over five deals of 14,150 shares.
In the corporate bond market turnover amounted to €633,915 spread across 20 issues, of which six lost ground, three gained and 11 closed unchanged. The 4.9% Gasan Finance Company plc € 2019-2021 was the best performer as it increased by 1.9 per cent. Meanwhile, in the sovereign debt market 20 issues were active, of which short-term issues declined, while longer-dated issues strengthened in value. Turnover totalled over €2.7 million – the most liquid issue was the 4.5% MGS 2028 (II) as trading reached €772k.
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, by e-mail to info@jesmondmizzi.com or by telephone on 2122 4410.