The Malta Stock Exchange (MSE) index closed the first week of February marginally 0.08 per cent lower at 4,468.719 points. The index’s performance was buoyed by gains in the equities of Malta International Airport plc (MIA) and most traded property equities.

Total trading value more than doubled to €2.79 million spread across 17 equities, of which gainers and fallers tallied at five, and seven were unchanged.

MIA’s share price closed the week at a record high of €4.50, locking a weekly gain of 3.9 per cent after 17 deals of 21,865 shares were executed. Last Tuesday, MIA announced that Flughafen Wien AG (Vienna International Airport) had signed a share purchase agreement to acquire SNC-Lavalin Group Inc’s indirect stake in SNC-Lavalin (Malta) Ltd, subject to both parties fulfilling certain closing conditions. Upon reaching financial closure Flughafen Wien AG will own over 48 per cent of MIA’s total issued share capital.

After the market closed last Friday, MIA announced positive traffic results for January, with a 13.2 per cent increase in passengers over the same month last year and an 11 per cent growth during winter so far. London, Frankfurt, and Rome were January’s top destinations, while the maximum take-off weight rose by 7.2 per cent, and cargo and mail grew by 3.4 per cent. The company also an­nounc­ed that works have started on terminal embellishments and airfield improvements.

Malta Properties Company plc shares partially recovered from a previous dip of 6.9 per cent by rallying by 5.6 per cent last week to close at €0.57 after five deals of 36,334 shares.

Three deals of 2,500 shares in Midi plc pushed its share price 2.9 per cent higher to €0.36, while Tigné Mall plc shares ended the week one per cent higher at €0.97, on low volume of a scant 500 shares.

The share price of Plaza Centres plc closed the week unchanged at €1, as four deals of 52,500 shares were struck. Last week, the company announced that its board of directors will meet on March 16, to consider and approve the company’s final audited financial statements for the financial year ended December 31, 2015, and to consider whether to declare and recommend the payment of a dividend.

HSBC Bank Malta plc shares continued to fall by a further 1.8 per cent, to close the week at €1.70. A total of 216,850 of the bank’s shares were traded in 57 deals.

Bank of Valletta (BOV) shares traded unchanged at €2.23 after €319,000 worth of trading in the equity. Last Monday, BOV announced that following the allotment of 30 million bonus shares of a nominal value of €1, the bank’s issued and paid-up capital increased to €390 million, divided into 390 million ordinary shares with a nominal value of €1 each fully paid up.

Lombard Bank Malta plc also stood unchanged at €2.40, as two deals of 18,000 shares were struck.

Fimbank plc shares recorded a negative weekly performance, closing the week down by four per cent at $0.605 after seven deals of 171,325 shares.

The share price of Mapfre Middlesea plc stood unchanged at €2.255 after a low volume of 3,500 shares were traded in two transactions. Last Wednesday, the company announced that its board of directors will meet on March 2 to consider and approve the company’s audited financial statements for the year ended December 31, 2015, and to consider the recommendation of a dividend.

Among the week’s gainers, RS2 Software plc shares fully recovered from their previous week’s decline of half a per cent, and closed 0.8 per cent higher at €3.30 – just shy of its weekly high of €3.33 – after 30 deals of 219,173 shares.

Maltapost plc shares plunged 4.2 per cent last week as five deals of 6,758 shares were executed, closing Friday’s trading session at €1.84.

The seven-week winning streak of GO plc shares ended as their price fell by 0.6 per cent to close at €3.17. They traded at a high of €3.20 and a low of €3.15, and 10 deals of 37,926 shares were executed.

Last week, the company announced that its board of directors will meet on Thursday to consider and approve the company’s audited financial statements for the financial year ended December 31, 2015, and to consider the declaration and recommendation of a final dividend.

Medserv plc shares weakened by 2.7 per cent to close the week at €1.60, as 16,559 shares changed hands in 10 deals. Last week the company announced that intermediaries had submitted offers for 2,262,254 lapsed rights for a total offer price of €3.4 million. The premium over the share offer price of €1.50 collected by the company will be distributed to lapsed rights holders in accordance with the prospectus. Consequently, 2,262,254 new ordinary shares of a nominal value of €0.10 each were issued and allotted last Friday. Trading will start tomorrow. The rights issue has increased the company’s issued share capital by 19.4 per cent.

The week’s other non-movers were Simonds Farsons Cisk plc, in which four deals of 1,696 shares were struck at €6, and Global Capital plc, which closed the week at €0.50 following a single deal of 1,135 shares.

After nine weeks of inactivity, Pefaco International plc recorded the week’s highest turnover worth €896,000 after one deal of 399,786 shares was struck. The share price was unchanged at €2.24.

In the corporate bond market, total turnover fell 37.2 per cent from €789,000 to €495,000, spread across 24 issues, of which seven rose and nine decline in value and eight were unchanged. The 4.5 per cent Hili Properties plc Unsecured € 2025 issue gained 1.9 per cent last week to close at €106.49, and the 4.25 per cent Bank of Valletta plc € notes 2019 series 2 tranche 1 issue fell 5.5 per cent to close the week at €104.01, on a low volume.

In the sovereign debt market, out of the 21 active issues, 17 declined and only four gained ground. The two per cent MGS 2020 (V) issue recorded the week’s best performance – up by half a per cent to close at €107.98, and the three per cent MGS 2040 (I) r issue fell 1.5 per cent to €108.77. A total of €1.1 million worth of turnover was registered in the 4.1 per cent MGS 2034 (I) issue, representing the week’s highest liquidity and 30 per cent of total trading value of €3.8 million.

This article, which was compiled by Jesmond Mizzi, managing director of 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 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 at 1/2, St Joseph High Street, Ħamrun, or on Tel. 2122 4410 or e-mail jesmond.mizzi@jesmondmizzi.com.

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