The MSE Equity Total Return Index curbed a part of last week’s advancement as the index fell by a marginal 0.17 per cent to close the week at 8,554.712 points.
The week was characterised by a number of company announcements. A total of 14 equities were active of which five gained ground and four closed in the red. A total turnover of €1.29 million was generated between 135 transactions.
On Wednesday, the Board of Directors of PG plc approved the company’s unaudited financial statements and Interim Directors’ Report for the six months ended October 31, 2017. The Group registered a turnover of €48 million compared to the €43.6 million in the comparative period for 2016, a growth of 10 per cent.
Increases in turnover were registered both in the group’s supermarket and associated retail operations and in its Zara and Zara Home franchise operations.
This growth was in part driven by the opening of the PAMA Shopping Mall in the late 2016, including the Zara Home outlet situated therein. The overall gross profit earned by the group, during the period, amounted to €7.2 million compared to the €6.3 million in 2016, registering a growth of 14 per cent. The equity was active six times during the week generating a total turnover of €113,696.
On Tuesday, Bank of Valletta plc announced the allocation policy with respect to the Rights Issue.
Rights taken up by existing shareholders amounted to a total of 75,538,509 for an equivalent of €108,020,067.87 and a further 17,587,954 rights for an equivalent of €25,150,774.22 were assigned by existing shareholders in favour of assignees.
Following rights taken up by existing shareholders and assignees, a balance of 11,873,537 lapsed rights was available to existing shareholders applying for lapsed rights. The total number of lapsed rights subscribed for by existing shareholders over and above their proportionate entitlement amounted to 35,125,389.
Consequently, the bank will be adopting an allocation policy on a pro-rata basis equivalent to 33.80357 per cent of the total amount of lapsed rights applied for, rounded to the nearest New Share.
Lombard Bank plc shares closed the week 2.2 per cent lower at €2.25. A total turnover of €14,988 was generated between five deals.
FIMBank plc experienced another volatile week as the equity spiked by 13.1 per cent during the week to close at $ 0.69. A total of 11 trades saw 253,020 shares exchange hands.
Meanwhile, HSBC Bank Malta plc shares traded flat despite being active 27 times during the week, managing to generate a total turnover of €83,501.
In the telecommunications sector, GO plc shares held firm to its €3.55 price level, despite reaching €3.58 during intra-week trading.
Malta International Airport plc shares, lost ground by 0.8 per cent to close the week at €4.64. A total of 18,650 shares exchanged hands between eight deals.
Following the approval by Simonds Farsons Cisk plc shareholders’ at the June 27 AGM, for the spin-off of the company’s shareholding in Trident Estates plc, the Board of Directors met on Wednesday to consider the declaration of an interim dividend that would be paid ‘in kind’ by means of a distribution of the company’s entire shareholding in Trident, on a pro-rata basis, to the shareholders registered on the company’s share register at the Central Securities Depository of the Malta Stock Exchange as at the close of business on Thursday.
It was also announced that the Listing Authority has approved a Prospectus relating to the admissibility to listing of 30,000,000 ordinary shares in Trident Estates plc having a nominal value of €1.00 per share pursuant to the Listing Rules.
In the oil and gas industry, Medserv plc shares traded twice during Monday’s trading session closing marginally lower at €1.138.
In the property sector, Plaza Centres plc gained ground, while Tigne Mall plc and Malta Properties Company plc (MPC) followed suit. Plaza shares climbed by 6.9 per cent during mid-week trading to close the week at €1.09.
Tigne shares followed suit as the equity closed 3.6 per cent higher during Friday’s session to reach the €1 price level. Meanwhile, MPC shares closed marginally higher at €0.431.
Elsewhere, MIDI plc and International Hotel Investment plc shares closed flat despite being active, closing at €0.347 and €0.627 respectively.
During a meeting held on Wednesday, the Board of Directors of Santumas Shareholdings plc approved the Interim Unaudited Financial Statements for the six months ended October 31, 2017.
The company reported that it has incurred a loss before taxation of €43,672 as compared to a profit before tax of €228,669 for the corresponding period in 2016.
In the corporate debt market a total of 36 issues were active of which, 22 headed higher, while five headed in the opposite direction. The 3.5% Bank of Valletta plc €Notes 2030 S2 T1 extended its winning streak for the third consecutive week to close 1.3 per cent higher at par.
Meanwhile, in the Local Sovereign Debt market, a total of 25 issues were active of which the absolute majority amounting to 19 headed lower, while six gained ground.
The 2.4% MGS 2041 (I) R extended its winning streak for the third consecutive week as the bond price increased by 0.5 per cent to close at €108.