FIMBank plc shares rally by 8.3%

MSE Trading Report for week ending June 17, 2016

The Malta Stock Exchange (MSE) Index added 0.39 per cent to the previous week’s positive performance to close at 4,459.93 points. Turnover amounted to €1.7m as a total of 16 equities were active of which gainers and losers tallied at four while eight closed unchanged.

FIMBank plc shares soared by $0.07 or 8.3 per cent as 15 trades of 266,433 shares were struck, closing at a multi-year high of $0.91. The trade finance bank’s shares are currently the best performers year-to-date having advanced by 43.4 per cent.

Bank of Valletta plc shares edged 0.7 per cent higher across 47 deals of 102,530 shares, to close at €2.215. Meanwhile, HSBC Bank Malta plc shares closed unchanged at €1.60 as 78,352 shares changed ownership over 19 transactions. Similarly, Lombard Bank Malta plc shares closed unchanged at €2.00 over seven deals of 29,629 shares.

Meanwhile, Mapfre Middlesea plc shares traded flat at €2.20 on a sole trade of 3,756 shares. Last Wednesday, the company announced that the Board of Directors is scheduled to meet on July 21, 2016 to approve the interim financial statements for the half-year ended June 30, 2016.

GO plc shares fell by €0.05 or 1.7 per cent across six transactions of 6,900 shares, closing at €2.85. On Tuesday, GO announced that Tunisie Telecom has published its offer document with the terms and conditions of its voluntary offer available to Shareholders on the company’s share register as at June 17, 2016. The acceptance period, during which GO’s shareholders may accept Tunisie Telecom’s offer, is between June 24 and July 22.

Malta Properties Company plc shares headed the list of laggards having declined by 5.2 per cent over a sole transaction of a scant 690 shares, to close at €0.51.

International Hotel Investments plc shares edged 0.2 per cent higher across the highest volume for the week of 1,428,676 shares, to close at €0.65. The hoteliers’ equity has registered a year-to-date decline of 13.3 per cent.

Malta International Airport plc shares fell by €0.04 or 0.9 per cent as six deals of 3,834 shares were executed, closing at €4.26. On the other hand, RS2 Software plc shares inched 0.3 per cent higher as 12,675 shares changed hands, to close at €3.50.

GlobalCapital plc shares slipped by 0.2 per cent over a sole transaction of 2,000 shares, closing at €0.499. The equity has so far recorded the worst performance year-to-date with a 33.5 per cent decline.

Simonds Farsons Cisk plc was active on seven trades of 12,675 shares closing the week unchanged at €6.30.  Likewise, Medserv plc, MaltaPost plc and Malita Investments plc all closed flat at €1.75, €1.80 and €0.90 respectively.

Grand Harbour Marina plcannounced that during the Annual General Meeting held on June 14, 2016, the shareholders approved the Audited Financial Statements of the Company for the financial year ended December 31, 2015. The equity was not active this week.

MIDI plc shares traded flat at €0.38 over a single transaction of 1,000 shares. After close of trading on Friday, the company announced its intention to issue secured bonds redeemable in 2026 having a nominal value of €100 each for an aggregate principal amount of €50m. The cut-off date for eligibility of holders of the maturing bond – namely, the 7% EUR Bonds 2016-2018 and 7% GBP Bonds 2016-2018 – to exchange their bonds and for eligibility of shareholders of the company to benefit from the reserved amounts, shall be June 24, 2016, subject to regulatory approval of the new bond. Trading in securities of the maturing bond shall be suspended as from June 23, 2016 until further notice.

In the corporate bond market 33 issues were active of which eight declined, eight gained ground and 17 closed unchanged on a turnover worth €1m. The 6% Mediterranean Investments Holding plc Euro 2021 was the most liquid issue having witnessed a turnover of €133,902, closing 0.3 per cent higher at €100.25.

Investors shied away from the sovereign debt market as turnover dropped from €7.9m to €4.6m as all of the 22 active issues registered a decline. The 3% MGS 2040 (I) recorded the most significant loss of 1.3 per cent, to close at €110.38.