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  • The MSE Share Index reversed yesterday’s decline as it advanced by 0.76% to 4,469.040 points, largely on the gains of three of its heavyweights (IHI, MIA and GO) which outweighed the declines in another two large caps – BOV and HSBC. Trading volumes increased noticeably to just over €570,000 on particularly strong activity in FIMBank and BOV. Week-on-week, the Index closed marginally higher after trailing in negative territory for most of the week. Download a copy of today’s Equity Market Summary.
  • On the bond market, the rebound in the RF MGS Index experienced yesterday was short-lived as it dipped by 0.19% today to a new four-week low of 1,134.326 points. Eurozone bond yields advanced across the board as stock markets took a respite following yesterday’s pronounced sell-off. Indeed, the 10-year benchmark German Bund yield recovered to 0.22% after it touched a low of 0.13% yesterday. Likewise, the corresponding Italian and Spanish sovereign bond yields also moved higher.
  • This morning, the Treasury announced the issue of two new Malta Government Stocks for a total aggregate amount of €120 million subject to an over-allotment option of up to a further €80 million. The new issues are the 1.50% MGS 2022 (IV) and the 2.50% MGS 2036 (I). The fixed offer prices will be determined on Thursday 18 February 2016 in the afternoon while subscriptions for the General Public will open on Monday 22 February and close on Wednesday 24 February (or earlier).
  • The equity of International Hotel Investments plc recovered most of yesterday’s 9.3% decline as today it advanced by 8.6% to the €0.719 level on two deals totalling a mere 1,090 shares.
  • Malta International Airport plc broke into record territory once again today as it gained 3.3% to the €4.70 level across 10,247 shares. The airport operator is scheduled to publish its full-year results on 24 February. The Directors will also consider the recommendation of a final dividend. Last Friday, the company published its January 2016 traffic results showing a 13.2% growth in passenger numbers to a new record of 236,552 passengers.
  • Also amongst the large companies by market capitalisation, GO plc added 1.9% to the €3.25 level across 25,143 shares. Yesterday evening, the quad-play telecom operator revealed improved results for its 2015 financial year as its operating profits increased by 27.9% to €27.8 million whilst profits before tax (after accounting for certain one-off items) amounted to €34.2 million. The Board of Directors will be recommending the payment of a final net dividend of €0.10 per share (2014: €0.07 per share) to all shareholders as at the close of trading on 07 April 2016. This dividend will be paid on 13 May subject to shareholders’ approval at the upcoming Annual General Meeting scheduled to be held on 11 May. In the meantime, this morning GO also announced that it received a number of non-binding bids from parties interested in acquiring the Company’s entire issued share capital.
  • The other positive performing equities today were RS2 Software plc and FIMBank plc. RS2 continued to advance towards its all-time high of €3.35 and added a further 0.3% to the €3.34 level across 16,000 shares. Today’s positive performance is the seventh consecutive for the I.T. services specialist.
  • On the other hand, FIMBank plc closed up by 0.8% to the USD0.61 level across strong volumes totalling 236,586 shares for a value of USD142,850.
  • Also in the banking sector, Bank of Valletta plc and HSBC Bank Malta plc registered declines. BOV managed to recover from an intra-day low of €2.20 but still finished 0.2% lower at the €2.215 level across 75,699 shares.
  • Negative sentiment towards HSBC Bank Malta plc persisted as the equity closed at its lowest level since mid-August 2004. The share price declined by a further 2.9% today to €1.63 across 36,500 shares. The Bank is scheduled to publish its 2015 financial statements on 22 February. Meanwhile, media reports on Monday confirmed that HSBC reached a deal on a new collective agreement for its employees.
  • Medserv plc (12,500 shares) extended yesterday’s decline by 0.1% to the €1.564 level after touching an intra-day low of €1.53. Yesterday, Medserv announced that its subsidiary company Medserv (Cyprus) Ltd was not successful in getting the necessary approval to extend the operating licence granted to it to operate out of Larnaca Port, Cyprus. The Company’s current licence expires in August 2016. In the meantime, Medserv (Cyprus) will be transferring its operations to Limassol Port whilst further discussions with interested parties will be held in order to ensure that this development does not hinder Medserv, its clients and the Cypriot economy.
  • Low volumes left the prices of GlobalCapital plc (2,380 shares) and Tigné Mall plc (2,000 shares) intact at the €0.45 and €0.97 levels respectively.

 

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