The MSE Equity Total Return Index continued its recent recovery as it posted solid gains of 1.67 per cent, closing at 8,805.842 points. A total of 21 equities were active during the week of which gainers amounted to eight while another six equities traded lower. Total turnover amounted to €2.23 million over 237 transactions.
On Friday, Bank of Valletta plc announced the board has approved the audited financial statements for the 15-month period from October 1, 2016 to December 31, 2017. The group’s profit before tax for the period was €174.7 million, compared with €145.9 million for the 12-months to September 2016.
The board further resolved to recommend for the approval of the annual general meeting, the payment of a final net dividend of €0.052 per share, payable on May 1 to shareholders on the bank’s share register as at close of business on April 10.
HSBC Bank Malta plc posted a minimal loss of 0.54 per cent, closing at €1.85. The equity traded 17 times as 55,429 shares changed hands.
After market close on March 16, Lombard Bank Malta plc announced that the National Deve-lopment and Social Fund of Malta has agreed to acquire a 49.01 per cent stake in the bank from Cyprus Popular Bank Public Co. Ltd., subject to approval from the relevant authorities. The equity was the best performer of the week as its share price soared 20 per cent higher to €2.40, as a result of five of trades of 8,266 shares.
On the other hand FIMBank p.l.c., closed unchanged at $0.605 despite recording five transactions of 16,926 shares. In the telecommunications sector, GO plc closed 1.12 per cent higher at €3.60. Trading volume amounted to 27,236 shares across 14 deals.
Malta International Airport plc was a drag on the index as it was down 0.81 per cent to €4.90. The equity traded 19 times as 57,595 shares were exchanged. MaltaPost plc traded flat at €1.90 throughout the week even though 21,944 shares traded across seven deals.
International Hotel Investments plc and SanTumas Shareholdings plc both closed unchanged at €0.62 and €1.50 respectively after trading on slim volumes this week. Similarly, PG plc closed at the previous week’s closing price of €1.38, despite generating a turnover of €62,736.
In the insurance sector, Mapfre Middlesea plc traded 16 times as 46,353 shares changed ownership.
The outcome was a solid gain, ending the week at €2.00.
On Friday, GlobalCapital plc announced that it intends to submit an application to the Listing Authority in April 2018 requesting the admissibility to listing of new ordinary shares pursuant to a rights issue. If fully subscribed, the proposed rights issue shall raise a total amount of approximately €6 million.
RS2 Software plc continued its positive trend as it rallies by another 5.71 per cent to €1.48, as a result of 24 transactions of 95,980 shares.
In the food and beverages sector, Simonds Farsons Cisk plc shares traded four times as volume totalled 7,400 shares.
The equity closed at €7.00, translating to a 0.72 per cent gain.
On Friday, Grand Harbour Marina plc announced that its board will meet on April 20 to consider and, if deemed appropriate, approve the financial statements for 2017.
Medserv plc recovered a portion of the previous week’s loss by climbing 1.79 per cent to €1.14 across six deals of 43,080 deals.
On Tuesday, Plaza Centres plc announced that the group’s profit after tax for 2017 increased to €1.27 million, which is in line with the previous year’s profit figure.
This is the first time that the group’s results include a full 12 months contribution from Tigne Place Limited.
MIDI plc traded 12 times this week closing unchanged at €0.346. Similarly, Trident Estates plc traded flat at €1.85 across three deals of 2,101 shares.
Also in the property sector, Malita Investments plc drifted 1.83% lower to €0.805. Trading volume amounted to 120,700 shares over 11 transactions.
On Wednesday, Malta Properties Company plc announced that the group’s profit after tax was €4.6 million, up by 82.8 per cent from the figure for 2016 of €2.6 million. Operating profit however declined by 29% per cent in 2017 to €1.8 million from the €2.5 million registered in the previous year. Earnings per share figure for 2017 was €0.05, significantly higher than the €0.03 of 2016. The board also recommended to the AGM that no dividend will be paid. The equity was down to €0.48 as 20,900 shares were exchanged across five deals.
A single trade of 30,000 Tigne Mall plc shares shaved 2 per cent off the price of the equity – down to €0.98.
In the corporate debt market a total of 38 issues were active of which 17 headed higher while 14 headed in the opposite direction.
The 5% GlobalCapital plc Unsecured € 2021 headed the list of gainers as it traded 4.14% per cent higher to close at €99.97.
On a negative note, the 5.5% Mediterranean Investments Holding plc Unsecured € 2020 was the worst performer as the bond price closed at €104.
Meanwhile, in the local sovereign debt market, yields were down, particularly for the longer dated securities, as out of a total of 24 active issues, 18 headed higher and six closed in the red.
Topping the list of gainers was the longest dated MGS, the 2.4% MGS 2041(I) r which advanced by 1.88% to close at €108.50.