The MSE Equity Total Return Index fell by 0.41 per cent – partially erasing the previous week’s 1.178 per cent gain, closing at 8,436.141 points. Turnover increased to €1.3 million from €910,608 spread across 20 equities of which gainers and losers tallied at seven.
RS2 Software plc shares were the worst performers having stumbled by €0.07 or 5.4 per cent, thus reversing all of the 2.4 per cent gains registered in the previous week. In total 36 transactions were executed over 119,840 shares, to close at €1.23, having recovered from a low of €1.15.
Bank of Valletta plc shares added to the previous week’s 1.2 per cent increase, having advanced by a further 1.2 per cent as 45 trades of 99,485 shares were executed, closing at €1.75.
Last Thursday, the bank held its forty-fourth Annual General Meeting (AGM), in which all resolutions on the agenda were approved, including the financial statements for the period ended December 31, 2017, and the gross final dividend of €0.08 per share.
The bank also announced that the total number of shares subscribed for under the optional Scrip Dividend Programme was 5,772,064 shares, translating to 35.25 per cent of the total potential issue of new shares under the scrip.
HSBC Bank Malta plc shares fell by €0.04 or 2.3 per cent – reversing the previous 0.6 per cent gain. The equity was active on 17 transactions of 42,473 shares, to close at €1.69.
FIMBank plc shares declined by 4.7 per cent across six deals of 68,508 shares, closing at $0.505.
Last Tuesday, the trade finance bank announced the final results of the rights issue, where at the closing of the intermediaries offer, a total of 196,703 lapsed rights were bought at $0.55, while another 9,000 shares were bought at $0.56.
Trading in the new shares on the MSE is expected to commence on Tuesday, May 15, 2018. The re-maining 10,594,894 shares shall be allotted to United Gulf Holding Company B.S.C. as agreed in the underwriting agreement between FIMBank and the said company.
Meanwhile, last Wednesday, the bank held its AGM in which the audited accounts for 2017 were officially approved. The AGM also approved the re-appointment of the auditors, the appointment of directors and their maximum aggregate emoluments.
Lombard Bank plc shares slipped by 1.7 per cent over six transactions of 39,337 shares, to close €0.04 lower at €2.32.
The bank’s subsidiary, MaltaPost plc registered no change in its €1.80 share price, despite having traded at a low of €1.78 last Monday, the postal operator’s shares witnessed two trades of 12,254 shares.
The insurance and investments services provider GlobalCapital plc recorded a 3 per cent drop in its share price as three deals of 5,075 shares were concluded, closing at €0.32. The company’s AGM is scheduled for June 27, 2018. Further information regarding the meeting shall be communicated at a later date.
In the same sector, Mapfre Middlesea plc shares headed the list of gainers having appreciated by €0.14 or 7.4 per cent across five transactions of 6,450 shares, to close at €2.04.
Malta International Airport plc (MIA) shares climbed €0.08 or 1.7% as 16 trades of 20,694 shares were negotiated, closing at €4.92. Last Monday, the local airport operator published its traffic results for the month of April, showing a total of 591,283 passenger movements.
Bank of Valletta plc shares added to the previous week’s 1.2 per cent increase
The positive trend of the previous months was extended to April as well, as aircraft movements and seat capacity saw an increase of 18.8 per cent and 18.5 per cent respectively during April. Furthermore, seat load factor stood at 80.1 per cent. The top markets for MIA were the United Kingdom, Italy, Germany, France and Spain. The latter registered a 39.7 per cent increase as a result of the launch of three new Spanish routes, and improved flight frequency on the existing Barcelona route.
Last Tuesday, the company held the AGM in which the annual report for 2017, including the financial statements, was officially approved. The final net dividend of €0.10 per share was also approved during this meeting.
Meanwhile, last Friday the company announced that its financial performance for the first quarter of 2018 was very positive, surpassing the results of the same period in 2017.
Turnover increased to €13.9 million over the previous year, while expenditure increased by 3.9 per cent to reach €7.9 million. These changes translated to an increase in profit after tax for the period of 6.3 per cent, to €2.6 million.
The telecommunications services provider GO plc extended the previous week’s 0.6 per cent increase in its share price, having advanced by a further 0.6 per cent. Activity in GO shares was spread over nine transactions of 21,270 shares, to close at €3.48.
International Hotel Investments plc (IHI) shares partially erased the previous week’s 7.5 per cent gain, having declined by 3.1 per cent across two deals of 20,000 shares, closing at €0.625.
Simonds Farsons Cisk plc (SFC) shares traded flat at €6.70.
The food and beverage supplier’s shares witnessed three transactions of 12,500 shares. SFC’s spin-off Trident Estates plc registered no change in its €1.60 share price as 10,000 shares changed ownership on one trade.
Malta Properties Company plc shares fully erased the previous week’s 3.8 per cent drop, having increased by 4 per cent as 78,860 shares changed hands over six deals, to close at €0.47.
Malita Investments plc shares partially reversed the previous week’s 1.8 per cent gain, having slid by 0.6 per cent across 11 transactions of 110,294 shares, closing at €0.84.
In the same sector, MIDI plc shares added to the previous week’s 1.1 per cent advance, having appreciated by 3.4 per cent. The equity was negotiated across seven deals of 106,000 shares and closed at €0.37 having recovered from a weekly low of €0.31.
Tigne Mall plc shares climbed by 1.1 per cent over two trades of 17,245 shares, closing at €0.96.
Plaza Centres plc shares traded unchanged at €1.04 on two transactions of 26,000 shares. The oil and gas logistics services operator Medserv plc shares traded at a low of €1.05, but closed unchanged at €1.10, having been active on 11 deals of 72,100 shares.
PG plc shares oscillated between a weekly high of €1.32 and a low of €1.28, to ultimately close unchanged at €1.31.
The supermarkets and retail owner’s shares were the most liquid, having witnessed a turnover worth €160,787, spread across 13 trades of 123,000 shares.
In the corporate bond market turnover increased to €1.6 million from €1.1 million. Activity was spread across 37 issues of which 16 advanced and nine fell.
The 5.75% IHI Unsecured € 2025 was the best performer, having increased by 2.3 per cent, to close at €110, while the 5% GlobalCapital plc Unsecured € 2021 headed the list of fallers having declined by 2.2 per cent, closing at €97.50.
In the sovereign debt market 24 issues were active of which 15 issues slipped and seven gained ground. Turnover increased to a substantial €9.8 million, from €1.7 million. The 5.2% MGS 2031 (I) was the most active issue having witnessed a turnover of €4.4 million, to close 0.8 per cent lower at €143.
This article, 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, tel: 2122 4410, or email info@jesmondmizzi.com.
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