The Malta Stock Exchange (MSE) Index fully erased last week’s gains having declined by 1.18 per cent, to close at 4,533.256 points. Activity was spread across 17 equities of which 10 fell, six gained ground and one closed unchanged. Turnover amounted to €1.84m.
Tigne Mall plc shares appreciated by €0.10 or 9.5 per cent across five deals of 30,500 shares, closing at €1.15. The company reported a profit before tax of €2.87m for the year ended December 31, 2015, compared to the €2.32m registered in the previous year. The rise in profit is attributed to an increase in revenue from additional retail space. Revenue for the period amounted to €5.7m – up by 9.1 per cent from 2014. Earnings per share stood at €0.0293. Moreover, the Board of Directors shall recommend for approval at the next Annual General Meeting (AGM), the payment of a final net dividend of €0.0125 per share, to be paid on July 12, 2016 to shareholders on the register as at June 24, 2016.
In the same sector, Plaza Centres plc shares fully recouped the previous week’s losses having advanced by 1.5 per cent, to close at €1.035. The equity was active on four transactions of 65,500 shares.
Simonds Farsons Cisk plc shares edged 0.2 per cent higher as two trades of 1,813 shares were struck, closing at €6.11. During the week, the company announced that the Board of Directors shall be meeting on May 12, 2016 to consider and approve the audited financialresults for the year ended January 31, 2016 and the declaration or otherwise of a final dividend to be recommended to the AGM, scheduled on June 28, 2016.
The banking sector succumbed to selling pressure as three out of the four banking equities registered a decline in their share price. HSBC Bank Malta plc shares headed the list of fallers having stumbled by €0.07 or 4.2 per cent across 22 trades of 90,569 shares, closing at €1.59. Yesterday, HSBC Bank Malta plc announced that during its AGM all of the ordinary resolutions on the agenda were approved, including the payment of a final gross dividend of €0.026 per share.
Lombard Bank Malta plc shares followed suit having slipped by 2.2 per cent over five deals of 14,587 shares, to close €0.05 lower at €2.18. Bank of Valletta plc shares also declined by 0.6 per cent as 55 trades of 148,282 shares were executed, closing at €2.27. FIMBank plc shares gained 2.1 per cent when taking into consideration its recent bonus issue of one share for every 25 held. The trade finance bank was active on 16 trades of 445,831, to close at $0.727.
Malta International Airport plc shares fell by a minimal 0.1 per cent over 12 deals of 18,090 shares, closing at €4.375.
International Hotel Investments plc shares decreased by €0.03 or 4.6 per cent as 125,055 shares changed ownership, to close at €0.62. Similarly, Mapfre Middlesea plc shares fell by 2.8 per cent as 20,347 shares changed hands, closing €0.07 lower, at €2.42.
In the IT sector, RS2 Software plc shares oscillated between a weekly low of €3.75, and a high of €3.82 at which it closed. The equity thus registered a 0.5 per cent gain negotiated across 13 transactions of 69,818 shares. On Thursday, the company announced that the Board of Directors is scheduled to meet on April 28, 2016 to consider the approval of the Audited Financial Statements for the financial year ended December 31, 2015 and the recommendation of a declaration or otherwise of a final dividend. Conversely, 6PM Holdings plc shares slipped 0.6 per cent lower over six deals of 33,400 shares, closing at £0.875.
GO plc shares edged 0.9 per cent lower as 21 transactions of 85,131 shares were struck, to close €0.03 lower at €3.45. Meanwhile, Malta Properties Company plc shares rose by a minimal 0.3 per cent across 11 trades of 126,230 shares, closing at €0.592. Medserv plc shares partially erased the previous week’s gains having declined by 1.1 per cent as a sole transaction of 1,000 shares was executed at €1.781. Likewise, Malita Investments plc shares fell by 1.2 per cent over five deals of 62,870 shares, closing at €0.929.
The only non-movers for the week were MIDI plc shares having closed unchanged at €0.37 as two deals of 13,600 shares were negotiated.
In the sovereign debt market 22 issues were active of which ten fell while 12 appreciated as turnover totalled €13.7m. The recently issued 2.5% MGS 2036 (I) r was the most liquid issue having witnessed a turnover of a sizeable €8.1m, closing 1.7 per cent higher at €106.75. The 3% MGS 2040 (I) was also very active, having witnessed a turnover of €2.7m, to close 1.7 per cent higher at €111.57.
In the corporate debt market turnover amounted to €1.6m and was spread across 29 issues of which eight appreciated, 12 declined and nine closed unchanged. The 6.6% Eden Finance plc 2017-2020 was the most liquid issue having witnessed a turnover of €425k, closing unchanged at €106.
Corinthia Finance plc announced the basis of acceptance for the issue of €40,000,000 4.25% Corinthia Finance plc Unsecured Bonds 2026. It was decided that applications in exchange for the new issue, amounting to €33.41m, will be allocated in full. As to the remaining balance, the first €2,000 of subscriptions for additional Bonds and a further 5.975 per cent of the remaining balance will be satisfied. Refunds of unallocated monies will be made by April 21, 2016. The Bonds are expected to be admitted to listing on the Official List of the MSE on April 21, 2016, with trading to commence the day after.
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: 21224410, or email info@jesmondmizzi.com.