The Malta Stock Exchange index contracted for the third consecutive week as it fell by a further 0.84 per cent, to close at 3,422.697 points.
Activity was spread across 15 equities, of which seven lost ground, five increased and three closed unchanged. GlobalCapital plc shares were the top-performer for the week, while Lombard Bank Malta plc shares shed the worst loss.
In the banking sector, Bank of Valletta plc shares witnessed the highest turnover for the week as it was active across 121 deals of 309,493 shares, to close at €2.13. Having turned ex-dividend on Tuesday, the equity lost 3.2 per cent on the week having traded at a low of €2.10 on Thursday.
HSBC Bank Malta plc shares slipped by a minimal 0.5 per cent over 57 transactions of 88,408 shares, closing at €2.13.
Lombard Bank Malta plc shares stumbled by €0.07 or 4.3 per cent over four trades of 5,458 shares, to close at its weekly low of €1.56.
Malta International Airport plc shares added on to last week’s gains, appreciating by a further 1.3 per cent and closing €0.029 higher at €2.27. The local airport operator announced that in April it hosted a total of 376,935 passengers, resulting in an increase of 13.7 per cent when compared to the same period last year. The UK continues to lead as the biggest market, increasing its passengers arriving on Malta by 14.8 per cent.
MaltaPost plc shares advanced by a significant 7.7 per cent across eight deals of 200,000 shares, to close €0.08 higher at €1.12. The board of directors yesterday approved the unaudited condensed interim financial statements for the six-month period ended March 31. The company registered a profit before tax of €1.2 million, compared to €1 million registered in 2013. Turnover for the period under review amounted to €11.7 million, a rise of 3.8 per cent from 2013, while expenses were contained at €10.6 million compared to €10.4 million in 2013.
In the IT sector RS2 Software plc shares were the only gainers as they soared by five per cent when accounting for the bonus issue in which shareholders were entitled to one share for every 17 shares held. The equity turned ex-dividend and ex-bonus on Thursday and witnessed a total of 11 transactions of 10,097 shares over the week, to ultimately close at €2.399.
Conversely, investors proved to be bearish towards 6pm Holdings plc and Crimsonwing plc shares both of which slipped by 0.7 per cent and 1.2 per cent respectively. The former was negotiated over four trades of 30,150 shares, to close at £0.75, while the latter was executed across two deals of 3,000 shares, closing at €0.86.
GlobalCapital plc shares experienced quite an encouraging week as they soared by 25.2 per cent over nine deals of 5,075 shares, closing at €0.75, thus partly recovering from the fall registered in the second week of April.
Also on the positive side, Medserv plc shares advanced by €0.03 or 2.3 per cent, to close at €1.33 as two transactions of 1,000 shares were executed.
Conversely, Middlesea Insurance plc shares fell by 2.1 per cent as three transactions of a mere 908 shares were struck, closing at €0.92. Likewise, Go plc edged 1.5 per cent lower as seven deals of 8,100 shares were processed, to close at €1.969.
On the other hand, Simonds Farsons Cisk plc traded flat at €3.00 over three deals of 3,550 shares.
Similarly, Tigne Mall plc shares traded unchanged at €0.525 on a sole transaction of 5,000 shares.
Island Hotels Group Holdings plc shares ended the week unchanged at €0.85 as 11,500 shares changed ownership. The company announced that it had obtained approval for the issuance of 350,000 6% Bonds 2024 of a nominal value of €100 per Bond issued at par for an aggregate of €35m. The proceeds will mainly be used by the company for the refurbishment and construction works at the Radisson Blu Resort in St Julian’s; the development and operation of the Costa Coffee brand – both locally and in Spain; and for other general corporate funding purposes.
Pendergardens Developments plc is offered to the general public through an intermediaries offer, €15 million 5.5% bonds due to mature in 2020. The company intends to apply the net proceeds of the issue together with proceeds from another approved bond issue towards the partial cost of construction and further development of the Pendergardens project and early repayment of a €12 million unlisted Notes.
Loqus Holdings plc announced that the Loqus Group has concluded the acquisition of all of the issued share capital of CCG Investments Ltd (CCG). CCG is a company engaged in software development primarily in the public sector. The current CCG business and personnel will be merged with the public sector activities of the Loqus Group.
In the corporate bond market turnover amounted to €715,561 spread across 21 issues of which seven fell, five rose and nine closed unchanged. The 5.6% GlobalCapital € 2014/16 registered the highest increase as it advanced by 3.7 per cent to reach the €85 price level.
Meanwhile, in the sovereign debt market 23 issues were active, the long-dated issues strengthened, while the short-dated issues succumbed to selling pressure.
The 4.45% MGS 2032 (II) r was the most liquid issue as it witnessed a turnover volume of over €6.2 million nominal.
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 by e-mail info@jesmondmizzi.com or by telephone on 2122 4410.