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  • The MSE Share Index registered its fourth consecutive positive performance as it advanced by a further 0.50% to 4,535.266 points on improved trading volumes totalling €588,000. Download a copy of today’s Equity Market Summary.
  • On the bond market, the RF MGS Index reversed yesterday’s marginal decline as it advanced by 0.05% to 1,137.974 points. Eurozone yields remained close to their recent lows as the latest round of economic data from the Single Currency’s largest economy, Germany, played a downbeat tone, reinforcing expectations that the European Central Bank (ECB) is gearing up for further monetary easing in March. Indeed, German exports contracted for the first time in three years in the final quarter of 2015 whilst a survey of German business sentiment showed its steepest drop since 2011.
  • Subscriptions for the General Public for the two new Malta Government Stocks close tomorrow. The new issues are: (i) the 1.50% MGS 2022 (IV), which has been priced at 105.0%, giving a yield-to-maturity 0.696% and the (ii) 2.50% MGS 2036 (I) which has been priced at 101.5%, giving a yield-to-maturity of 2.408%.
  • RS2 Software plc continued to trade higher as it closed at yet another record level of €3.53 (+2.6%) across strong volumes totalling 77,726 shares.
  • Bank of Valletta plc regained the €2.22 level (+0.9%) on lower activity of 22,867 shares. Last Friday, BOV announced the issuance of €50 million 3.5% Tranche 2 subordinated bonds 2030 at par (100%) forming part of its Debt Issuance Programme launched in October 2015.
  • Also in the banking sector, Lombard Bank Malta plc gained 0.7% to the €2.20 level across insignificant volumes.
  • Low volumes were also registered in Medserv plc and GlobalCapital plc. The equities closed at €1.62 (+4.4%) and €0.46 (+2.2%) respectively.
  • In the property segment, Plaza Centres plc and Malta Properties Company plc also performed positively. The shopping centre operator moved closer to its all-time high of €1.05 as it regained the €1.00 level (+2.0%) across 7,497 shares.
  • Likewise, Malta Properties Company plc advanced 1.8% to the €0.57 level across 22,350 shares.
  • Within the same sector, MIDI plc maintained the €0.35 level across healthy volumes totalling 385,000 shares. Yesterday afternoon, the Company announced that its Board of Directors is scheduled to meet on Monday 28 March to consider and approve the Company’s financial statements for the year ended 31 December 2015. The Board will also be considering the recommendation of a final dividend.
  • Amongst the large companies, GO plc (€3.30 / 2,220 shares), HSBC Bank Malta plc (€1.649 / 1,790 shares) and Malta International Airport (€4.72 / 20,100 shares) closed unchanged. Yesterday, HSBC announced their 2015 financial results while MIA will do so tomorrow. HSBC Malta reported an improved adjusted (i.e. excluding the effect of the non-recurring item pertaining to the early voluntary retirement scheme) profit before tax of €61.5 million. The Board of Directors is recommending a final gross dividend of €0.026 per share (€0.017 net), which together with the €0.051 gross interim dividend paid in September 2015, results in a total gross dividend for the year of €0.077 per share (€0.05 net) – representing a 20% increase compared to the 2014 adjusted dividend. Shareholders as at the close of trading on 14 March will be eligible to receive the final dividend on 19 April subject to shareholder approval at the upcoming Annual General Meeting to be held on 15 April 2016.
  • The only negative performer of today’s trading session was Simonds Farsons Cisk plc. The equity retreated by 0.8% to the €6.25 level on light volumes.

 

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