The Malta Stock Exchange (MSE) Index stayed faithful to its recent winning streak as it edged 1.55% higher in June, to close the second quarter of 2013 at 3,417.379 points, marking its seventh consecutive month-on-month gain. June proved to be a positive month for local equities as out of a total of 21 active equities 11 edged higher, seven declined and three closed unchanged. This positivity however was not reflected throughout the international market as all major indices closed the month in the red: the Dow Jones in New York slipped 1.36%, the FTSE 100 in London fell by 5.58%, while the NIKKEI 225 in Japan sagged by 0.71%.
In the local IT industry, RS2 Software plc was the best performer for the month as it appreciated by an impressive 10.3% over 51 deals of 221,634 shares. The equity has been recording month-on-month gains for 10 consecutive months, to end the month of June at the €1.279 price level. Similarly, 6PM Holdings plc increased by a further 1.8% as 10 transactions of 49,400 shares were struck, to close at £0.61, marking a 35.56% gain for the second quarter of 2013. Likewise, Crimsonwing plc advanced by 1.75% as eight trades of 29,500 shares took place, closing at €0.58. Meanwhile, Loqus Holdings plc traded unchanged at €0.14 over a sole trade of a mere 667 shares.
In the local banking sector, Lombard Bank plc was the only loser for the month as it decreased by 2.8% over 35 transactions of 106,280 shares, despite closing at its monthly high of €1.80. Conversely, both Bank of Valletta plc and HSBC Bank Malta plc partially recouped last month’s losses as they appreciated by 1.2% and 2.7% respectively. The former witnessed 152 trades of 385,056 shares, to close at €2.275, while the latter was active over 50 transactions of 129,134 shares, closing at €2.70.
Furthermore, FIMBank plc closed the month unchanged at $1.00 as 21 deals of 385,795 shares were negotiated. The bank announced that it has been notified by Burgan Bank and UGB that the share acquisitions have been completed and thus Burgan Bank is now the owner of 35m ordinary shares whereas UGB is the owner of 17,948,867 ordinary shares in the bank. Therefore, Burgan Bank now holds 24.49%, while UGB holds 12.56% of the ordinary shares in the bank.
On a positive note, Island Hotels Group Holdings plc rallied by 3.1% as it fluctuated between a monthly high of €0.59 and a monthly low of €0.52, to close at the €0.536 price level. In terms of volume, this equity was the most active as 612,000 shares were dealt over 43 transactions. The company board of directors approved the group’s financial statements for the six-month period ending 30 April, 2013 at a meeting held on 25 June, 2013. The group registered a loss before tax of €2.81m, compared to a €3.05m loss registered in 2012. Revenue for the period under review amounted to €12.09m, a rise of 4.56% from 2012. Similarly, International Hotel Investments plc edged minimally higher as it increased by a further 0.11%, therefore moving higher for the fifth consecutive month, to close at €0.90.
In the food and beverage industry, Simonds Farsons Cisk plc soared by 7.4% over 12 trades of 17,715 shares, closing at €2.76. Similarly, Grand Harbour Marina plc rose by 5.4% over three deals of 5,000 shares, to close at €1.95. Likewise, shares in Tigne’ Mall plc strengthened by 5% across a sole transaction of 1,000 shares, closing at €0.53. On a similar note, Malta International Airport plc increased by a further 2.5% as 24 deals of 40,552 shares were struck, to close at €2.05. The positive traffic results issued for the period between January and May 2013 might have been the main driver behind this gain as passenger movements over the same period last year increased by 9%. Aircraft movements also registered an appreciation of 5.3% when compared to the same period in 2012.
Conversely, Malita Investments plc plunged by 4.8% as 30,000 shares exchanged hands across 10 transactions, to close at €0.50. Similarly, Middlesea Insurance plc and GO plc added on to last month’s losses as they decreased by a further 3.5% and 1.3% respectively. The former was dealt across 21 trades of 147,426 shares, closing at €0.811, while the latter witnessed 29 deals of 93,717 shares, to close at €1.53.
Similarly, Plaza Centres plc slipped lower by a marginal 0.88% as seven trades of 79,776 shares took place, closing at €0.565. The company board is scheduled to meet on 15 July, 2013 to consider and approve the interim accounts for the half year ending 30 June, 2013. Likewise, Medserv plc and MIDI plc both ended the month lower as they dropped by 2.6% and 0.4% respectively. Meanwhile, MaltaPost plc traded unchanged at the €1.05 price level across one trade of 1,000 shares.
In the corporate bonds market turnover amounted €2.12m across 34 issues in which five lost ground, 14 climbed higher and 15 closed unchanged. On the other hand, in the sovereign debt market turnover amounted to over €71.3m spread over 26 issues. The most liquid issue for the month was the 7.8% MGS 2018 as turnover exceeded €21m nominal.
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 to conduct investment services by the MFSA 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]