The MSE Equity Total Return Index partially erased the previous week’s 0.424% gain having declined by 0.326%, to close at 8,605.443 points. A total of 18 equities were active of which 10 fell and five gained ground.
Turnover totalled €1.4 million, down from the previous week’s €1.6 million.
Malta International Airport plc (MIA) shares oscillated between a weekly high of €4.98 and a low of €4.90, to ultimately close 0.8% lower at €4.92 – despite the strong financial results announced last Wednesday. The local airport operator’s shares witnessed 27 trades of 56,820 shares.
MIA announced that the board approved the financial statements for the year ended December 31, 2017. The company’s profits for 2017 increased from €21 million to €24.2 million.
Revenues were up to €82.4 million from €73.1 million in the previous year. The Board is recommending the payment of a final net dividend of €0.07 per share on all shares settled on April 6, 2018, which will be up for approval at the company’s Annual General Meeting which is scheduled for May 8, 2018.
In a separate announcement, MIA declared that it has been granted approval by the Planning Authority for its master plan to invest €100 million into the development of the airport terminal infrastructure and the surrounding airport campus.
This approval gives the company the green light to proceed to the planning stage of its investment programme, which will be executed in three major phases.
In the last quarter of the year, it is envisaged that works on the construction of a multi-storey car park, providing more than 1,300 parking spaces, will commence.
The master plan also provides for the construction of SkyParks II, which will house office and retail space, and a business hotel.
Although the main short-term focus of the company is its Terminal Reconfiguration Project, it will also be actively working on drafting and finalising design plans for a lateral expansion of the terminal.
FIMBank plc shares were the only fallers in the financial sector having reversed the previous week’s 9.7% rally. he trade finance bank’s shares decreased by $0.06 or 8.8% over one transaction of 7,674 shares, closing at $0.62.
HSBC Bank Malta plc shares advanced by 4.4% as 81,064 shares changed ownership across 33 deals, to close €0.08 higher at €1.90 – a four-month high.
The bank announced that profit before tax for 2017 amounted to €49.8 million, which translates in a decline of 19.9% over 2016, when the bank’s financial results included a one-off gain on disposal of the bank’s membership interest in Visa Europe, amounting to €10.8 million. Adjusted profit before tax, which excludes the effect of notable items, was €55.6 million, still 9.5% down from 2016.
The bank announced a net dividend for the year which is however 54% higher than the prior year at €40.2 million, €20 million of which is a special dividend to be distributed from surplus retained earnings. A final net dividend of €0.081 per share will be paid on April 19, 2018 to shareholders who are on the bank’s register on March 13, 2018.
Bank of Valletta plc shares recouped the previous week’s 0.6% decline, having increased by 0.6% across the highest turnover of 232,159 shares spread over 45 transactions, closing at €1.82.
Last Friday, the Bank announced that the Arbiter for Financial Services had handed down his decision with respect to a number of complaints relating to the La Valette Multi Manager Property Fund. The Bank noted that at this stage, it is still reviewing the details of the decision and the Board of Directors will be discussing the matter and deciding on the appropriate actions to take in the best interests of the bank.
Lombard Bank Malta plc shares extended the previous week’s 1.7% gain, having climbed by 2.6%. The banking equity was executed across two trades of 230 shares and closed €0.06 higher at €2.40 – a 42-week high.
MIA revenues up to €82.4m from €73.1m in the previous year
The insurance and investments service provider Mapfre Middlesea plc registered no change in its share price of €1.85 for the second consecutive week as one deal of 100 shares was concluded.
MaltaPost plc shares advanced by €0.04 or 2.1% as 5,600 shares changed hands over three transactions, closing at €1.95.
The food and beverage supplier Simonds Cisk Farsons plc (SFC) registered a €0.25 or 3.4% drop in its share price on a low turnover of 127 shares split over two deals, to close at €7.20.
Meanwhile, SFC’s spin-off company Trident Estates plc’s shares closed the week in the red for the first time since issuance. The equity fell by €0.07 or 3.5% as 115,277 shares changed ownership over 23 trades, closing at €1.91.
The telecommunications company GO plc recorded a 0.6% decline in its share price, partially erasing the previous week’s 1.7% gain. The equity was negotiated across seven deals of 11,320 shares, to close at €3.54.
Meanwhile, GO’s spin-off Malta Properties Company plc added to the previous week’s 2.6% increase, having appreciated by 3.8% over six transactions of 20,344 shares, to close at €0.488.
MIDI plc shares fully erased the previous week’s 2.9% increase, having declined by 4.5% across six trades of 139,000 shares, closing at €0.34. In the same sector, Malita Investments plc shares closed unchanged at €0.83 as 13 deals of 69,500 shares were negotiated.
The mall owner Plaza Centres plc registered no change in its share price for the second consecutive week. The equity closed at €1.01 and was active on six transactions of 54,908 shares.
RS2 Software plc shares continued with its downward trend having closed in the red for the eight week. The I.T. equity witnessed a turnover of 50,147 shares spread across 16 deals and closed €0.02 lower at €1.29.
International Hotel Investments plc shares extended the previous week’s 1.6% decline, having slipped by 2.4% as two trades of 588 shares were negotiated, closing at €0.605.
The oil and gas logistics services operator Medserv plc recorded a 3.5% decline in its share price as four deals of 18,000 shares changed hands, to close €0.04 lower at €1.12.
PG plc shares added to the previous week’s loss of 0.7%, having decreased by 2.9%. The supermarkets and retail owner’s shares were active on two transactions of 3,000 shares and closed €0.04 lower at €1.35.
In the corporate bond market, 41 issues were active of which 14 increased and eight declined as turnover amounted to €1.8 million. The 5.1% 6PM Holdings plc Unsecured € 2025 headed the list of gainers having recouped by 4.7% from the previous week’s 10.8% drop, closing at €99.50, while the 5% GlobalCapital plc Unsecured € 2021 headed the list of fallers having slipped by 3%, to close at €96.02.
In the sovereign debt market turnover totalled €2.1 million spread over 22 issues of which four advanced and 16 fell as yield appreciated.
The 4.1% MGS 2034 (I) was the most liquid issue having witnessed a turnover of €342,234, closing 0.1% lower at €129.32.
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.
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.