The Malta Stock Exchange index fully erased the previous week’s marginal gain with a 1.2 per cent decline, closing the week at 4,416.47 points. Turnover amounted to €737,148 spread across 13 equities of which five fell in value, four gained ground and another four closed unchanged.
RS2 Software plc shares tumbled by a further €0.10 or five per cent across 16 trades of 24,833 shares, to close at a six-month low of €1.90. The Board of Directors is scheduled to meet next Thursday to consider and if thought fit approve the group’s and the company’s interim financial statements for the six months ended June 30, 2016.
In the banking sector, HSBC Bank Malta plc shares oscillated between a weekly high of €1.65 and a low of €1.58, to ultimately close unchanged at €1.60. The equity was active on 42 deals of 141,073 shares. In its interim financial statements announced on Wednesday, the bank reported an increase of 13.8 per cent in profit before tax at €41.3 million, when compared to the first six months of 2015. However, after adjusting performance to exclude the gain on disposal of Visa Europe, adjusted profit before tax stood at €30.5 million – down by 15.9 per cent from 2015. This was a consequence of the current negative interest rate environment, lower non-interest income due to risk management actions and temporary effect of higher regulatory costs. Earnings per share stood at €0.075. Moreover, the board of directors recommended a gross interim dividend of €0.071 per share (€0.046 net of tax) which will be paid on September 9, 2016 to shareholders who are on the bank’s register as at August 12, 2016.
Bank of Valletta plc shares also closed unchanged at €2.22 as 41 transactions of 84,671 shares were struck. During the week, BOV announced its nomination of directors process which will be in line with regulatory requirements of the EU Capital Requirements Directive. This will ascertain that the bank’s board of directors will be made up of individuals who can actively contribute to the bank’s strategic objectives and add value to shareholders.
On a positive note, FIMBank plc shares increased by a marginal 0.2 per cent across eight deals of 154,000 shares, to close at $1.017.
Elsewhere, Medserv plc shares edged 0.1 per cent higher over a sole transaction of 2,400 shares executed at €1.802.
GO plc shares recouped the previous week’s losses, having increased by 0.7 per cent as 5,255 shares changed ownership across five deals, to close at €2.82. The board of directors of the company is scheduled to meet on Tuesday to discuss the group’s interim unaudited financial statements for the six-month period ended June 30, 2016.
Malta Properties Company plc shares rose by a slight 0.2 per cent over four trades of 16,000 shares, closing at €0.508.
Malita Investments plc shares declined by €0.039 or 4.4 per cent across four deals of 30,000 shares, to close at €0.851. Yesterday, the company published its interim financial statement for the period ended June 30, 2016. The property company reported that profit before tax fell from €10.7 million to €4.9 million, when compared to the first six months of 2015. The company reported a change in fair value of investment property of €2.3 million for the first six months of 2016 compared to €8.1 million for the same period in 2015. Revenue for the period under review amounted to €3.5 million – a slight increase of 0.4 per cent from the previous year. Earnings per share stood at €0.0266. Moreover, the board of directors declared the payment of a gross interim dividend of €0.0128 per share (€0.00832 net of tax) which will be paid on September 9, 2016.
International Hotel Investments plc shares stumbled by €0.046 or 7.1 per cent as 4,666 shares changed hands over two transactions, closing at €0.604.
Similarly, Plaza Centres plc shares decreased by 4.6 per cent as two trades of 16,800 shares were struck, to close at €1.05.
Malta International Airport plc shares slipped by 1.9 per cent as 12 deals of 13,590 shares were negotiated, closing €0.08 lower at €4.12. The local airport operator announced a 5.9 per cent increase in passenger movements during the month of July, when compared to July of 2015. This was attributed to a 3.1 per cent increase in seat capacity and better seat load factor.
Mapfre Middlesea plc shares traded flat at €2.042 over a sole trade of 144 shares.
Likewise, Tigne Mall plc shares traded unchanged at €1.05 over one deal of 5,000 shares. The company announced that its board of directors is scheduled to meet on August 12, 2016 to approve the interim financial statements for the year ending June 30, 2016 and consider the declaration of an interim dividend.
In the corporate bond market 30 issues were active of which nine gained ground, 12 declined and another nine closed unchanged. Turnover amounted to €1.2 million. The recently issued four per cent MIDI plc Secured € 2026 was the most liquid issue having witnessed a turnover of €307,388 – registering the best performance, having increased by 3.8 per cent, closing at €103.75.
In the sovereign debt market turnover totalled to €15.7 million spread across 26 issues of which 15 increased in value, eight declined and three closed unchanged. The 2.5 per cent MGS 2036 (I) headed the list of gainers having increased by 1.2 per cent, to close at €106.49.
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 .