The MSE Equity Total Return Index registered a gain after a six-week losing streak, having recovered by 0.135 per cent, closing at 8,504.792 points. Activity was spread across 17 equities of which eight appreciated and five fell, as turnover increased to €2m from €1.65m the previous week.
Bank of Valletta plc (BOV) shares recouped by 0.7 per cent from the previous week’s 0.8 per cent decline. The equity witnessed 105 deals of 470,569 shares and closed at €1.799 having traded at a high of €1.83 and a low of €1.75.
Undecided shareholders of the bank now need to take action prior to next Wednesday’s deadline in respect of the right issue in which BOV is offering 105,000,000 new ordinary shares to its eligible shareholders on the basis of a ratio of 1 new ordinary share for every 4 ordinary shares held at an offer price of €1.43 per new ordinary share.
Last Friday, BOV announced that the nil-paid rights issued to UniCredit S.p.A. as part of the €150,000,000 rights issue, have been duly assigned.
FIMBank plc shares fell by 2.4 per cent as 17,209 shares changed ownership over two trades, closing at $0.615. Meanwhile, HSBC Bank Malta plc shares closed unchanged at €1.86, despite having reached a weekly low of €1.83. The banking equity was active on 25 transactions of 127,151 shares.
The investments and insurance provider, Mapfre Middlesea plc registered a minimal increase of 0.1 per cent in its share price as 839 shares changed ownership over one trade, to close at €1.781.
In the same sector, GlobalCapital plc shares added to the previous week’s 4.8 per cent loss having declined by 8.2 per cent as two transactions of 30,235 shares were negotiated, closing at €0.312.
Malta International Airport plc shares managed to register a 1.1 per cent increase after having declined for four consecutive weeks. The local airport operator’s shares were executed over 19 deals of 37,153 shares, to close €0.05 higher at €4.65.
MaltaPost plc shares advanced by €0.041 or 2 per cent across three trades of 5,000 shares, closing at an all-time high of €2.12.
The local telecommunications services provider GO plc registered a 1 per cent increase in its share price. The equity witnessed 12 transactions of 21,670 shares and closed €0.035 higher at €3.55.
PG plc shares closed unchanged at €1.45 as three deals of 7,870 shares were executed. The supermarkets and retail owner reported that on December 4 the board will consider, and if thought fit, distribute an interim dividend, with the cut-off date to those eligible for dividend as on December 1.
RS2 Software plc (RS2) shares fell for the fourth week, having edged 0.2 per cent across 49 trades of 165,393 shares, closing at €1.52, following a high volatile week in which the equity gained 10 per cent last Tuesday but gave it all back in the following three sessions.
The equity traded at a high of €1.65 and a low of €1.50. Last Monday, RS2 published its interim director’s statement in which it states that in 2017 the group continued the implementation of its strategy in terms of geographical expansion and the development of the managed services business.
It further stated that both offices in Asia and the US are fully operational and working to support the core team in Malta in terms of development and project delivery.
The strategy of the group is to develop these offices to be extended arms to the European operation and will have four main tasks to perform, namely core development, local and custom development, managed service operation, and sales and marketing.
Over the past year, the group has continued to build its strong network to implement its global acquiring strategy partnering with Fintech companies and local banks in various jurisdictions in order to provide banks, PSPs and Multinational merchants using BankWORKS as one single platform to process their businesses around the globe.
The group managed to form an alliance with a large corporation that provides 42 per cent of the global travel market to offer their client processing services and consolidation of their business.
The group is diligently working on securing multi-million Euro processing deals for its managed services company in different regions. These deals could be closed by end of Q1 and Q2 2018.
The report concluded that overall, the group’s revenue for 2017 remains stable and comparable to 2016. Despite the group’s continued global expansion in the current year, it expects to maintain, and possibly marginally improve its profitability, over the prior year.
The board sustains its confidence in the group’s strategic business model and development, its underlying technology and product BankWORKS, the resulting revenue pipeline and the global expansionary and growth targets.
Furthermore, sales pipeline across the different regions and across the two business lines is very healthy and conducive to successfully implementing the group’s expansion strategy.
Medserv plc added 7 per cent on to the previous week’s decline of 4.7 per cent, to close €0.084 lower at €1.121. The oil and gas logistics services provider’s shares were active on 15 deals of 68,580 shares.
Food and beverage supplier, Simonds Farsons Cisk plc, registered no change in its €8.76 share price, as four trades of 25,250 shares were struck.
In the property management sector, Malta Properties Company plc shares were the only negative performers having slipped by 6.4 per cent as eight transactions of 91,760 shares were executed, to close €0.032 lower at €0.468.
Plaza Centres plc shares rose by a marginal 0.9 per cent as 5,215 shares changed hands across four deals, closing at €1.02. MIDI plc shares increased by 1.5 per cent over one trade of 10,000 shares.
Tigne Mall plc shares climbed by 1 per cent as four transactions of 22,800 shares were negotiated.
Malita Investments plc shares closed unchanged at €0.751.
The equity witnessed three deals of 30,000 shares.
In the corporate bond market activity was spread across 40 issues of which 17 advanced and 15 fell. Turnover totalled €1.3m.
The 5.8% International Hotel Investments plc 2023 headed the list of gainers having increased by 2.3 per cent, to close at €107.45.
The 3.5% Simonds Farsons Cisk plc Unsecured € 2027 was the worst performer having slipped by 1.32 per cent, to close at €104.60.
In the sovereign debt market 26 issues were active of which nine long dated stocks increased and 14 fell as turnover amounted to €3.6 million. The 2.1% MGS 2039 (I) was the most liquid issue having witnessed a turnover of €2m.
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