The MSE index declined by 0.7 per cent adding on to last week’s negative returns, to close at 3,307.581 points during this holiday- shortened week.
A total of 15 equities were active of which five gained, eight fell in value while two closed unchanged. HSBC Bank Malta plc shares headed the list of gainers, while International Hotel Investments plc (IHI) shares were the worst performers.
HSBC Bank Malta plc partly recovered last week’s loss as its share price appreciated by 2.6 per cent across 21 trades of 53,849 shares, closing €0.05 higher at €1.95. Shareholders who were on the bank’s register on August 14 will be entitled to receive the interim gross dividend of €0.045 per share (€0.029 net of tax) – payable on September 4.
Bank of Valletta plc shares closed at their weekly high of €2.12 after easing down to a low of €2.10. The banking equity was active across 35 deals of 144,345 shares.
Meanwhile, Lombard Bank Malta plc shares traded flat at €1.60 over five deals of 7,151 shares.
In the telecommunications industry, Go plc shares eased 0.8 per cent lower on nine transactions of 13,500 shares, closing at €2.38. During Wednesday’s trading session, the company announced the approval of the group’s interim unaudited financial statements for the six months ended June 30. The group registered a profit before tax of €8.5 million, compared to €8.3 million registered in 2013. Revenue for the period under review amounted to €60.8 million, an increase of 0.4 per cent from 2013. The group’s current overall client base accounts for more than 500,000 connections across the main retail products.
Growth in mobile, TV and broadband compensated for the continuing trend of declining revenues from traditional fixed voice services. Earnings per share increased to €0.058. The group’s performance is exceptional by comparison to trends in the sector, both internationally as well as locally, and confirm Go as the leading telecommunications service provider in Malta. The board of directors decided to determine the extent of dividend distribution for 2014 on the basis of the full results for the year and therefore, no dividends were declared upon issue of the results for the six months ended June 3.
International Hotels Investments plc shares stumbled by a weighty 7.9 per cent across seven trades of 31,657 shares, closing €0.06 lower at €0.70.
During Tuesday’s session, Middlesea Insurance plc shares dropped by 2.2 per cent on a single trade of 1,000 shares dealt at €0.90.
Similarly, Malita Investments plc shares declined by 1.6 per cent to €0.541 on the highest volume for the week of 177,300 shares.
Malta International Airport plc shares dropped by a further 2.6 per cent as 37,070 shares changed ownership, closing €0.06 lower at €2.25. Shareholders on the company’s register as at August 18 will be entitled to a net interim dividend of €0.03 per share (gross €0.0461538) – payable by not later than September 12.
In the IT sector, 6pm Holdings plc was the only positive performing equity edging 0.7 per cent higher over four trades of 65,000 shares, to close at £0.735.
On the other hand, Crimsonwing plc shares dipped by 0.6 per cent as three deals of 9,282 shares were struck, closing at €0.81.
Similarly, RS2 Software plc shares fell by 1.1 per cent during Tuesday’s session as 6,329 shares changed hands, to close at €2.60.
Santumas Shareholdings plc shares gained a slight 0.5 per cent on four transactions of 4,509 shares, closing at €2.00. On Tuesday, the board of directors declared the approval of the company’s financial statements for the year ended April 30. The company registered a profit before tax of €714,569, compared to €593,175 registered in 2013. Total revenue for the period under review amounted to €822,256, an increase of 16.7 per cent from 2013. The directors did not propose a dividend for the year, however, this may be reviewed at the interim stage.
During the period, the company purchased a property in Paceville Avenue, Paceville. The property was purchased with an existing Mepa permit for conversion into two separate class four shops. It is the company’s intention to undertake the necessary conversion work and lease the properties to third parties. The company recognised revaluations of its investment property and leasehold improvements based on valuations performed by independent architects – resulting in an unrealised gain of €327,364 as at April 30.
On Monday, Plaza Centres plc shares gained a further 1.7 per cent on a single trade of 12,000 shares, to close at €0.60.
On the other hand, Simonds Farsons Cisk plc shares declined by 0.3 per cent on one deal of 25,000 shares, closing at €2.861.
Meanwhile, Loqus Holdings plc shares traded unchanged at €0.085 on one transaction of 1,000 shares.
In the corporate bond market turnover reached €536,896. Activity was spread over 19 issues of which nine gained ground, four dropped and six closed unchanged. The 7.5% Mediterranean Investments Holding plc 2015 which fell by 1.1 per cent was the worst performer.
In the sovereign debt market, turnover amounted to over €1.9 million spread across 20 issues, of which four lost ground and 16 rose in value.
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.