Newly listed MGS rallies by 4.2%
MSE Trading Report for week ending August 26, 2016
In the sovereign debt market investors shifted their attention tothe newly issued 2.4% MGS 2041 (I) as it soared by an impressive 4.2 per cent in its first four days of trading, to close at €105.99. The issue witnessed a turnover of €11.3m. Total activity in this market was spread over 25 issues of which 15 long-dated issues appreciated in value, nine fell and one closed unchanged. Turnover amounted to €19.8m.
Meanwhile, theMSE Index turned positive by 0.96 per cent, to close at 4,467.283 points. Turnover totalled €742,641 and was spread across 18 equities of which nine gained ground, five fell and four closed unchanged.
GlobalCapital plc shares were the top performers having appreciated by a significant 42.6 per cent as six deals of 26,593 shares were struck, to close €0.149 higher at €0.499. Plaza Centres plc shares followed suit having increased by €0.069 or 6.4 per cent over five deals of 23,250 shares, closing at €1.149.
Conversely, Tigne Mall plc shares declined by 1.9 per cent on one trade of 2,000 shares executed at €1.02. Similarly, Medserv plc shares stumbled by €0.05 or 2.9 per cent over three deals of 20,450 shares, closing at €1.65.
After close of trading on Friday, the company announced its interim financial results for the period ended June 30, 2016. The Group’s turnover declined by 36 per cent by nearly €10m to €17.3m. The Company stated that a slow-down in the provision of shore base logistics, as a result of exploratory drilling activity in Cyprus being put on hold together with minimal shore base logistics in Portugal, were the main contributors to lower turnover. Moreover, the decrease was not matched by the revenue generated from the recently acquired METS group. The Company added that this reporting period only reflects four months of METS revenue. The Company’s earnings before tax, depreciation and amortisation for the period under review amounted to €3.3m down from €6.6m for the same period last year. Medserv plc revised lower the group’s revenue forecast for the year 2016 to €38m down from €44m as quoted in its published forecast.
In the banking sector, FIMBank plc shares were the only fallers having declined by 0.5 per cent as 2,200 shares changed ownership on a sole transaction executed at $0.975. Conversely, HSBC Bank Malta plc shares registered a 1.9 per cent gain as 16 trades of 54,638 shares were executed, closing €0.03 higher at €1.59.
Bank of Valletta plc shares oscillated between a weekly high of €2.25 and a low of €2.22, to ultimately close unchanged at €2.23. The equity was active on 48 deals of 103,698 shares worth €231.6k.
Lombard Bank Malta plc shares traded flat at €2.20 on a single trade of 4,517 shares on Wednesday. During the week, the bank published its financial results for the six months ended June 30, 2016. The Group registered a profit before tax of €4.4 million, compared to €4.3 million in 2015. This year’s results include a one-time significant item of income of €1.3 million received from Visa Inc.’s purchase of all the shares in Visa Europe. Group operating income reached €23.9m compared to €21.6m in 2015. The bank recorded a satisfactory performance in most of its business lines while the Malta Post subsidiary experienced lower profits. Net interest income for the period under review amounted to €7.1 million, a rise of 10.4 per cent from 2015. Earnings per share increased to €0.057.
Mapfre Middlesea plc shares extended the previous two weeks’ winning streak by 1.9 per cent as one transaction of 1,000 shares was negotiated at €2.10. On a similar note, Malta Properties Company plc (MPC) shares registered a fourth weekly gain having advanced by 4.7 per cent across five deals of 10,000 shares, closing at €0.56.
Last Thursday, MPC published its unaudited Financial Statements for the six months ending June 30, 2016. The Group registered a tax profit before tax of €928,358- an increase of 40% from 2015. The total comprehensive income for the period declined from €1.7 million in 2015 to €551,115, mainly attributed to the tax credit for the period ended June, 30 2015 as a result of changes of the taxation rules on capital gains tax arising on transfer of immovable property. Revenue for the period under review amounted to €1.7 million – up by 3.4 per cent from 2015, which is expected to remain stable due to long-term lease agreements with its tenants.
GO plc shares strengthened by €0.08 or 2.7 per cent as 5,655 shares changed hands over four deals, to close at €3.05. On Tuesday, the telecommunications provider announced that 65.4 per cent of the entire issued share capital of the company was to be transferred to TT ML Limited on that same day. The remaining shares are in free float on the MSE. Prior to GO’s announcement, Tunisie Telecom had also issued a press release highlighting the successful conclusion of the Voluntary Public Offer for shares in GO, and their aim for GO to become a key player within the Tunisie Telecom group, to capture growth opportunities in Malta and Cyprus, and to start delivering on their vision to create a leading trans-Mediterranean telecoms platform spanning from North Africa to Malta, Cyprus and Greece.
In the I.T. sector, the share price of 6pm Holdings plc declined by 5.9 per cent over one trade of 1,030 shares dealt at £0.80. Meanwhile, RS2 Software plc shares closed unchanged for the second consecutive week at €1.85 as the equity witnessed 11 deals of 33,328 shares.
The other non-mover this week was MIDI plc having closed unchanged at €0.365 as four transactions of 41,100 shares were executed.
Trading in International Hotel Investments plc partially erased the previous week’s loss having increased by 3.2 per cent across one deal of 8,000 shares executed at €0.64. The company announced that the Board of Directors will review the Half-Yearly Report for the period ended June 30, 2016 on August 30, 2016.
Meanwhile, Malta International Airport plc shares retreated by a minimal 0.2 per cent over six trades of 5,119 shares, closing at €4.24. Conversely, Simonds Farsons Cisk plc shares edged 0.8 per cent higher as four deals of 12,770 shares were struck, closing €0.05 higher at €6.40.
Malita Investments plc shares increased by 2.2 per cent across four trades of 148,000 shares.
In the corporate bond market turnover amounted to €871,820 spread across 25 issues of which 13 gained ground, nine declined and three closed unchanged.