The Malta Stock Exchange (MSE) Index clicked another notch higher as it increased by 0.2% over the month of May, closing at 3,365.331 points and thus registering its sixth consecutive month-on-month gain. Twenty two equities were active for the month, in which nine equities appreciated, 10 fell and three remained unchanged. The top performers for the month were Santumas Shareholdings plc (Santumas), RS2 Software plc (RS2) and 6pm Holdings plc (6PM), while MIDI plc and Island Hotels Group Holdings plc headed the list of losers.
Equities from the IT sector had a very lively month as both 6PM and RS2 rallied by 13.2% and 13.7% respectively. The former witnessed 11 trades of 29,210 shares, closing at £0.60, while the latter fluctuated between a monthly high of €1.171 and a monthly low of €1.02, to close at €1.16. The equity experienced a high turnover as 419,432 changed hands spread across 58 transactions worth €0.5m. In terms of volume the equity once again was among the most active during May. Similarly, Crimsonwing plc recouped 3.6% as 105,747 shares were executed, to close at €0.57. The company announced that the provisional figures for the year ending March 2013 show a 15% increase in revenue when compared to the same period last year.
Conversely, Loqus Holdings plc returned to the trading desk after being absent for several months over one thin trade of 333 shares, to close 4.8% lower at €0.14. Likewise, Medserv plc extended April’s losses as it declined by a further 1% despite having touched a monthly high of €3.95 as three deals of 11,873 shares were executed as the equity finished the month at €3.90.
Financials underperformed the market during the month as three banks recorded a decline, while FIMBank plc shares remained unchanged. Bank of Valletta plc shares were among the hardest hit as the equity shed 2.2% off its share price over the highest turnover for the month of 475,548 shares, to close at €2.249. Similarly, HSBC Bank Malta plc slipped 1.5% lower as 75 trades of 180,504 shares were negotiated, closing at €2.63. During the month the bank announced that Albert Mizzi would be retiring as chairman and director of the bank with effect from 31 May, and that Sonny Portelli will be appointed as the new non-executive chairman of the bank. The board of directors of the bank is scheduled to meet on 5 August, to approve the group’s and the bank’s interim accounts and to consider the declaration of an interim dividend.
From the same sector, Lombard Bank Malta plc closed the month at €1.851 as 14 trades of 27,401 shares took place. The bank paid a bonus issue of one share for every 10 which shareholders already held on 28 May, 2013, but no transactions were executed following this event. On the other hand, FIMBank plc closed the month unchanged at the $1.00 price level. The equity experienced quite an eventful month as it was traded across 45 transactions of 424,824 shares.
On a positive note, Santumas rallied by an impressive 15.6% over five trades of 8,319 shares, to close at its monthly high of €1.85. Similarly, International Hotel Investments plc has been increasing gradually climbing for four consecutive months as it advanced by a further 8.3% over 29 trades of 138,708 shares, closing just shy of its monthly high of €0.90. From the same sector, Island Hotels Group Holdings plc plunged by 13.3% as 19 trades of 266,400 shares changed ownership, to close at its monthly low of €0.52. The board of directors of the company is scheduled to meet on 25 June, to discuss the company’s half-yearly financial statements for the period 1 November, 2012 to April 30, 2013.
Likewise, MIDI plc sank 15.3% across 10 deals of 239,000 shares, to close at €0.25. Similarly, Middlesea Insurance plc fell by 6.2% over 13 trades of 29,678 shares, to close at €0.84. From the telecommunications sector, GO plc shed 2.5% as 45 trades of 168,697 shares took place. The equity oscillated between a monthly high of €1.59 and a monthly low of €1.52, to finally close at the €1.55 price level. This fall came about as investors reacted negatively to a company announcement in which it reported that the company announced that profitability during the first quarter of 2013 is marginally below that registered during the same period last year.
On a similar note, Grand Harbour Marina plc declined by a further 0.5% over a single deal of 5,400 shares, closing at €1.85.
Malta International Airport plc rallied by a further 4.2% across 49 transactions of 156,814 shares, to close €0.08 higher at €2.00. Passenger movements for the month of April grew by 8.9%, to reach 331,369 passengers, that is, the highest number ever registered in April.
From the food and beverage industry, Simonds Cisk Farsons plc gained 1.2% as three trades of 5,167 shares were executed, to close at €2.57.
The other non-movers for the month were Plaza Centres plc and MaltaPost plc as they both closed at €0.57 and €1.05 respectively. The former witnessed three transactions of 62,400 shares, while the latter was traded over 20 deals of 189,319 shares. MaltaPost plc registered a profit before tax of €1m for the six month period ended 31 March, 2013, compared to €796,000 registered in 2012. Revenue for the period amounted to just under €11.3m, a rise of 2.5% from 2012. Meanwhile, the two most recently listed equities, Malita Investments plc and Tigne’ Mall plc, both rose by 1.2% and 1% respectively.
This article, which was compiled by Jesmond Mizzi, managing director of Jesmond Mizzi Financial Advisors Limited, does not intend to give investment advice and the contents therein should not be construed as such. The company is licensed by the MFSA to conduct investment services and is a member firm 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 Financial Advisors at 67 Level 3, South Street, Valletta, or on Tel: 21224410, or email [email protected]