The Malta Stock Exchange (MSE) Index ended the month higher as it increased by a further 0.81%, to close at 3,445.155 points. Throughout the month, 20 equities were active as gainers and losers tallied at nine while two closed unchanged. Meanwhile, in the international market, a positive sentiment was witnessed throughout Europe and America as all major indices recovered June’s negative returns. The most notable gains were recorded in the Nasdaq in New York as it appreciated by 6.6% while the CAC 40 in Paris advanced by 6.8%. Conversely, the Nikkei 225 in Japan extended June’s losses as it declined marginally by a further 0.1%.
Locally, in the banking industry Lombard Bank plc was the top performer as it strengthened by €0.05 over 20 trades of 62,540 shares, to close at €1.85. Similarly, Bank of Valletta plc shares rose by a further 1.2% across the highest turnover of the month of 386,592 shares, closing at €2.302. Likewise, HSBC Bank Malta plc edged 0.04% higher as 61 deals of 157,280 shares were negotiated, to close at €2.701. Conversely, FIMBank plc was the only banking equity which closed the month in the red as it fell by 1% over 12 transactions of 116,750 shares, to close at $0.99. On July 29, 2013 the bank issued 36,254,567 shares to UGB, which increased UGB’s holding in the bank to 30.25%.
On a positive note, Island Hotels Group Holdings plc headed the list of gainers for the month as it rallied by 28.73% across 16 trades of 265,010 shares, to close at €0.69. In the same sector, International Hotel Investments plc shed 1.11% off its share price as 31,375 shares exchanged hands to close at €0.89.
Meanwhile, Crimsonwing plc soared by a significant 18.97%, to close the month at its monthly high of €0.69. The gains were a reflection of the positive results registered by the company but also on anticipation of the results as investors rushed to purchase more equity in the company. The group declared a profit before tax of €981,475, compared to a €207,346 loss registered in 2012, as revenue for the period amounted to €17.8m, up by an impressive 17% over 2012. Meanwhile, the board of directors resolved to propose the declaration and payment of a gross dividend of €0.01 per share. The eligibility date for the dividend entitlement shall be the close of trading on 17 October, with settlement on 22 October.
Similarly, RS2 Software plc appreciated for the 11th consecutive month as it rose by a further 1.64% over 28 transactions of 118,841 shares, to close at €1.30. On the other hand, 6pm Holdings plc closed unchanged at £0.61 as three trades of 6,600 shares were executed. The other non-mover for the month was Plaza Centres plc as it traded flat at the €0.565 price level over two deals of 30,000 shares. The company registered a profit before tax of €605,474 for the half-year ended June 30, compared to €685,013 in 2012. Revenue for the period amounted to €1.04m, a decline of 7.5% from 2012.
The telecommunications provider GO plc fully reversed last month’s decline as it stepped 9.74% higher across 65 deals of 146,672 shares, closing just shy of its monthly high of €1.68. Likewise, both Middlesea Insurance plc and Malita Investments plc ended the month higher as they marked an increase of 0.49% and 2% respectively. The former witnessed 13 trades of 37,628 shares, closing at €0.815, while the latter was executed over 14 transactions of 121,607 shares, to close at €0.51. The insurance services provider registered a profit before tax of €6.82m for the half-year ended June 30, 2013, compared to €7.17m registered in 2012.
In the food and beverage industry, Simonds Farsons Cisk plc partially reversed last month’s gains as it edged 0.33% lower over 13 deals of 12,393 shares. The equity ended the month at €2.751, despite having touched a monthly high of €2.80. On a similar note, Malta International Airport plc share price slipped by 0.49% across 37 trades of 119,960 shares, to close at €2.04. The local airport operator announced that passenger traffic for the first half of 2013 reached 1.7m and hence registered an increase of 9.2%. This increase was mainly attributed to the increase of 7.6% in seat capacity. Maltapost plc shares were among the losing equities this month recording a loss of 1.9% over three trades of 6,000 shares.
Similarly, MIDI plc was the worst performer of the month as it plunged by 3.61% over five deals of 72,000 shares, closing at €0.24. Likewise, Grand Harbour Marina plc, Santumas Shareholdings plc and Medserv plc all registered a similar decrease in their share price as they fell by 2.56%, 2.7% and 2.63% respectively. Medserv plc registered a profit before tax of €566,485 for the half-year ended June 30, compared to a loss of €680,589 registered in 2012, while revenue for the period amounted to €3.7m, a rise of 45% over 2012.
In the local Sovereign Debt Market turnover amounted to €41m spread over 28 issues. The most active issue was the 5.25% MGS 2030 (I) as it witnessed a turnover of over €11.6 million. Furthermore, in the Corporate Bonds Market turnover totalled to €4.1m across 34 issues.
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]