RS2 Software surges by 7.6 per cent
MSE Trading Report for week endingJuly07 2017
The MSE index maintained its positive stance as it extended its winning streak for the fifth consecutive week to close 0.56 per cent higher at 4,723.69 points. The week was dominated by this week’s top performer – RS2 Software plc, with the major banks following suit. A total of 16 equities were active during the week of which, six gained ground, three closed in the red, while seven closed flat. Total turnover increased marginally from €1.75 million to €1.79 million.
RS2 Software plc shares maintained its winning streak for the thirteenth consecutive session as the equity spiked by 7.6 per cent – reaching a one-year high at €1.85. The equity held the lion’s share of the turnover in the equity market accounting for 31.4 per cent of total turnover.
HSBC Bank Malta plcfollowed suit as the equity added one per cent to its value to close the session at €2.071. A total of 30 trades managed to generate a total turnover of €97,819.
Last Thursday, Bank of Valletta plc announced that an Extraordinary General Meeting will be held on Thursday July 27, 2017 to approve two extraordinary resolutions and two ordinary resolutions. The announcement stated that authorised share capital of the Company will be increased, subject to regulatory approval, from €500 million to €1,000 million. The equity reached a seven-week high in intra-week at €2.20, but failed to maintain this price to close at €2.19. The equity managed to generate a total turnover of €246,798 spread over 47 trades.
In the same sector, FIMBank plc issued a Company Announcement wherein the Bank stated that the process of strengthening operations is ongoing and is in line with plans and expectations. The Board acknowledges positive performance and results. Cost control measures have had positive results and a disciplined business management strategy has allowed FIMBank to improve its efficiency as well as its asset quality. The first half of 2017 has been characterised by material and positive results on recovery of bad debts. Management has successfully recovered on exposures that had impacted previous years’ performance. Moreover, recently, the MFSA confirmed the revoking of administrative measures imposed on FIMBank in 2016.
The market conditions have yet to improve and regulatory oversight, especially on capital ratios, has become stronger, which is being successfully addressed by the Management and Board.
In view of such conditions, the Board of Directors of FIMBank confirms a prudent business model and approach.
Simonds Farsons Cisk plcshares reached a fresh all-time high intra-week at €7.73, but fell short in maintaining the price to close at €7.70 – as five deals managed to generate a total turnover of €37,500.
On a similar note, PG plc shares also reached a similar milestone, as the equity traded at a new all-time high intra-week of €1.32, but erased its gain during the following session to close at €1.30.
Malta Properties Company plcleft it late as a rocky start on Monday was recouped during Friday’s session as the equity advanced by one per cent to close at €0.534 – reaching a seven-month high.
On the hand, International Hotel Investments plc hit an 11 month low at €0.60, as the equity’s price contracted by 3.2 per cent. A total of nine trades managed to generate a total turnover of €71,704.
Meanwhile, property counterparts, MIDI plc, Malita Investments plc and Plaza Centres plc, albeit trading during the week, all closed flat at €0.31, €0.74 and €1.00.
Similarly, in the oil and gas industry, three transactions amounting to 23,500 shares in Medserv plc weren’t enough to veer the equities price to close flat at €1.30.
On a negative note, a single trade of 6,700 shares in Grand Harbour Marina plc erased a marginal 0.1 per cent of the equity’s value to close at €0.895.
Last Friday, Malta International Airport plc announced that the Board of Directors is scheduled to meet on Wednesday July 26, 2017 to consider and, if considered appropriate, approve the Company’s Interim Financial Statements for the six months ended June 30, 2017.
It is also expected that the Board of Directors will consider the payment of an interim dividend during this meeting.
An abnormal turnover in MIA of €414,120, spread between 32 trades was registered in the equity to close 0.9 per cent higher at €4.15.
On a negative note,Mapfre Middlesea plc managed to drag the price to a two year low at €1.86 – as 4,508 shares were exchanged over six deals.
Nine deals spread between Wednesday and Friday in GO plc managed to generate a total turnover of €97,510. Despite the turnover the share price closed unaltered at €3.47.
Elsewhere, Global Capital plc closed flat €0.34 – as five deals saw a mere 1,200 shares being exchanged, having traded at a low of €0.29.
In the corporate debt market, a total of 25 issues were active during the week of which, six closed in positive territory, three headed south, while a total of 16 closed unchanged. The newly issued 5% Mediterranean Investments Holding plc Unsecured € 2022 was this week’s top performer as the bond price increased by 2.75 per cent to close at €102.75 – as four deals generated a total turnover of €117,797.
Meanwhile, in the Prospects Market, the 4.75% Orion Finance plc € Unsecured Bonds 2027 was the only active issue in the market during the week. A total of five trades, between Tuesday and Wednesday managed to generate a total turnover of €27,510 to close one per cent higher at €101.
On the contrary, a choppy week was seen in the sovereign debt front as out of the 22 active issues, the majority amounting to 17 lost ground, while five closed in positive territory. Long dated bonds having a maturity greater than 10 years registered steep declines, ranged from 0.1 per cent to 5.3 per cent.