The Malta Stock Exchange (MSE) index bounced back into positive territory, notching a gain of 0.86 per cent to close at 4,720.618 points. A total of 16 issues were active during the week of which six rose, six lost ground and four closed unchanged – with four of the active issues registering fluctuations greater than six per cent either way. Total turnover last week increased by 26.8 per cent over the previous week to €2.045 million – registering the highest turnover during the month.
In the banking sector, the share price of HSBC Bank Malta plc climbed by 2.5 per cent to close at €2 – a level last reached in February 2014 – generating a turnover of €397,474, spread over 46 transactions. On the other hand, Bank of Valletta plc (BOV) shares started off on a positive note but erased its earlier gain to close unchanged at €2.17. Total turnover in this equity accounted for 22 per cent of total turnover.
In the telecommunications sector, GO plc shares closed at a fresh eight-month high of €3.40 as 37,050 shares changed hands in 21 deals.
Nine deals amounting to a total turnover of €65,250 executed in International Hotel Investments plc (IHI) managed to veer the equity’s price for the first time in almost three weeks, adding 6.5 per cent to its share price to close at €0.66 – nearing a three-month high.
Malta International Airport plc (MIA) shares failed to maintain its opening price of €4.10 as the equity fell short by 0.7 per cent to close at €4.07 on €215,000 as 53,019 shares changed hands.
Meanwhile, Malta Properties Company plc registered last week’s worst performance as the equity dipped by 10 per cent to close at €0.53 as 182,155 shares were traded in 23 deals.
In the same sector, a total turnover of €40,700 spread over 10 transactions in Midi plc had little effect on the equity’s price – which closed marginally lower at €0.329.
Similarly, Malita Investments plc declined by 0.9 per cent to close at €0.85. Total turnover amounted to €11,160 split between three deals.
A single deal of 2,300 shares in Plaza Centres plc and of 5,000 shares in Santumas Holdings plc managed to boost the prices of both equities by 8.5 per cent and 11.1 per cent respectively.
Simonds Farsons Cisk plc (SFC) managed to reach the previous week’s intra-week all-time high to close at €7.30 as a total turnover of €95,122 was generated after nine transactions.
Last Thursday, the company announced that the development application filed in May 2015 regarding the rehabilitation of the Farsons old brewhouse in Mrieħel had been approved by the Planning Authority on January 13. The rehabilitation project covers the restoration and conversion of approximately 7,000 square metres of industrial space which will include a visitor centre experience with supporting food and other retail outlets, flexible workspace and additional amenities. The project is planned to start in mid-2017 and is expected to be completed within two years with an investment of around €10 million.
RS2 Software plc continued to curb its year-end gains as the equity registered a decline for the third consecutive week to close at €1.78. Total turnover amounted to €186,579, spread over 19 transactions as 104,114 shares changed hands.
A single deal of 864 shares in Mapfre Middlesea plc added 0.3 per cent to the previous week’s decline to close at €2.224.
Elsewhere, the share prices of Maltapost plc, Medserv plc and Tigné Mall plc remained unaffected despite registering a turnover of €190,028, €149,784 and €8,993 respectively.
Last Wednesday, 6pm Holdings plc announced that in relation to the conditional voluntary offer by Idox plc, a total of 98.15 per cent of valid acceptances were received by the end of the acceptance period. Idox plc considers all the conditions set out in the offer document as being satisfied in full and thus the voluntary public takeover offer is now unconditional in all respects. Idox plc has also confirmed that it intends to exercise the right to require all the remaining shareholders to sell and transfer to Idox plc the remaining shares in the company. Following completion of the offer and on acquiring all the issued shares in the company, Idox plc intends to apply for the delisting of the company shares as soon as practicable.
In the sovereign debt market, all 27 active issues closed in the red as total turnover spiked from €5 million to €11.9 million. The 4.3 per cent MGS 2033 (I) registered the weakest performance as the bond declined by 2.1 per cent to close last week at €132.60. Meanwhile, the 2.1 per cent MGS 2039(I) R traded under par as the bond declined by two per cent to close at €97.50 as turnover amounted to €990,930, spread over 101 transactions.
In the corporate bond market, a total of 37 issues were active during the week with 15 losing value and 10 gaining ground, while 12 closed flat. The five per cent Ħal Mann Vella Group plc secured bonds € 2024 accounted for 14.5 per cent of total turnover as the bond registered an increase of 0.5 per cent to close at €105. On the other hand, four deals amounting to a turnover of €55,524 in the 5.3 per cent United Finance plc unsecured € bonds 2023 managed to cut the bond’s price by 4.2 per cent to close at €104.
This article, which was compiled by Jesmond Mizzi Financial Advisors Ltd, 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 Ltd at 67, Level 3, South Street, Valletta, or on Tel. 2122 4410, or e-mail info@jesmondmizzi.com.