The MSE Equity Total Return Index fully recouped the previous week’s 0.41 per cent loss, having increased by 1.218 per cent, to close at 8,538.891 points.
Turnover increased from €1.3 million to €1.9 million. Activity was spread over 20 equities of which nine advanced and four lost ground.
Malta Properties Company plc (MPC) shares registered the best performance having appreciated by 9.6 per cent – adding to the previous week’s 4 per cent gain.
The equity witnessed 27 transactions of 313,370 shares, closing €0.045 higher at €0.515 – a 15-week high.
MPC announced that it is entering into discussions with SmartCity (Dubai) LLC, a wholly owned subsidiary of Dubai Holding LLC Dubai, United Arab Emirates for the possible acquisition of the major shareholding in SmartCity (Malta) Ltd.
The company maintained that it is still in the early stage of evaluating the opportunity and any potential agreement that may be reached would be subject to general meeting approval, various terms and conditions, satisfactory due diligence and regulatory approvals.
In the same sector, MIDI plc shares registered an increase for the third consecutive week, having advanced by 3.2 per cent over 19 trades of 767,500 shares, closing at €0.382 – a 21-month high.
The property management company Malita Investments plc recorded a 2.4 per cent appreciation in its share price – fully erasing the previous week’s 0.6 per cent loss.
The equity was active on eight deals of 87,560 shares and closed at €0.86.
Meanwhile, the shopping mall owner Plaza Centres plc registered no change in its share price of €1.04, as two trades of 96,200 shares were struck.
Trident Estates plc shares fell by 3.8 per cent as 15,645 shares changed ownership over eight deals, closing at €1.54.
Bank of Valletta plc shares closed unchanged at €1.75 as 29 transactions of 83,047 shares were executed.
Eligible shareholders received a final net dividend of €0.052 per share last Friday which was distributed either in cash or by the issue of new shares.
FIMBank plc shares were active on one deal of 1,667 shares. The trade finance bank’s shares recouped the previous week’s 4.7 per cent drop having advanced by 8.9 per cent, to close $0.045 higher at $0.55.
HSBC Bank Malta plc shares increased by €0.05 or 3 per cent across 22 trades of 61,117 shares, closing at €1.74.
This surge in price reduces the year to date loss to 2.5 per cent.
Meanwhile, Lombard Bank Malta plc shares partially erased the previous 1.7 per cent decline, having advanced by 0.9 per cent.
The banking equity touched a weekly low of €2.30, but ultimately closed at €2.34 as five deals of 8,000 shares were negotiated.
The insurance and investments services provider Mapfre Middlesea plc registered no change in its €2.04 share price as three transactions of 3,800 shares were concluded. Last Friday, the company distributed a gross dividend of €0.11304 per share to its eligible shareholders.
In the same sector, GlobalCapital plc shares reversed the previous week’s 3 per cent loss, having climbed by 6.3 per cent across two deals of 10,275 shares, closing at €0.34 – an-eight week high.
Santumas Shareholdings plc shares stumbled by a significant 33.3 per cent as 627 shares changed hands over one transaction, to close €0.50 lower at €1.
Malta International Airport plc shares increased by €0.04 or 0.8 per cent – adding to the previous week’s 1.7 per cent gain.
The local airport operator’s shares were active on 14 trades of 22,949 shares and closed at an 11-week high of €4.96.
MPC in discussions with SmartCity (Dubai) LLC
GO plc shares closed unchanged at €3.48, despite having reached a weekly high of €3.50 and a low of €3.46. The equity witnessed 22 transactions of 95,936 shares.
Last Monday, GO held its Annual General Meeting (AGM), during which the financial statements, and all other resolutions on the agenda were approved.
The telecommunications pro-vider distributed a final net dividend of €0.13 net of taxation per share last Wednesday.
Simonds Farsons Cisk plc shares traded flat at €6.70 on three deals of 3,130 shares. The food and beverage supplier reported that it had registered a profit before tax from continuing operations of €13.5 million for the year ended January 31, 2018, an increase of 18.2 per cent over the previous year.
Turnover reached €95 million, translating to an improvement of 7.2 per cent. As a result, earnings per share increased from €0.404 to €0.459.
The board has resolved to recommend to the AGM a final net dividend of €0.0866 per share, which will be distributed on June 22, 2018 to all shareholders on the register as at May 22, 2018.
International Hotel Investments plc shares extended the previous week’s 3.1 per cent loss, having declined by 0.8 per cent across seven trades of 219,410 shares, closing at €0.62.
Medserv plc shares traded unchanged at €1.10 on two transactions of 2,050 shares.
MaltaPost plc shares closed unchanged at €1.80 as 11,335 shares were negotiated across three deals.
The local postal services provider’s board approved the unaudited condensed consolidated interim financial statements for the six month period ending March 31, 2018.
During the period, revenue increased by 37.5 per cent from €17.6 million to €24.2 million as a result of positive trends in foreign mail activity, parcels business and document management services. However, margins were lower, as expenses increased at a higher rate, climbing by 44.7 per cent to €23 million, from €15.9 million in the previous year.
This disproportionate increase was mainly the result of expenses related to foreign mail activity.
As a result, profit before tax for the period was €1.3 million, compared to €1.8 million in the same period last year. Total assets were up by €9.7m, however this was matched by a similar increase of €10.4 million in liabilities as both trade receivables and payables increased.
PG plc shares increased by 0.8 per cent. The retail and supermarkets owner’s shares were executed over 10 transactions of 182,740 shares, closing at €1.32.
RS2 Software plc (RS2) shares extended the previous week’s 5.4 per cent loss, having slipped by 1.6 per cent across 18 deals of 103,045 shares, to close at €1.21.
RS2 shareholders on the register as at close of business of May 18, 2018 will be entitled to the payment of a final net dividend of €0.0146 per share if approved at the company’s AGM scheduled on June 19, 2018.
In the corporate bond market 36 issues were active of which 16 appreciated and nine fell.
Turnover increased minimally from €1.6 million to €1.7 million. The 5% GlobalCapital plc Unsecured € 2021 headed the list of gainers, having increased by 2.3 per cent, to close at €99.75, while the 5.75% IHI Unsecured € 2025 was the worst performer, having declined by 2.3 per cent, to close at €107.50.
In the sovereign debt market turnover declined from the previous week’s €9.8 million, to €1.8 million. Activity was spread over 25 issues of which 23 lost ground and two advanced. The 4.1% MGS 2034 (I) was the most liquid issue having witnessed a turnover of €262,652, to close 1 per cent lower at €131.06.
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 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 email info@jesmondmizzi.com.
http://www.jesmondmizzi.com