Local Market Update Week ending 11 th August 2017

Transcription

1 Lcal Market Update Week ending 11 th August 2017

2 MSE Perfrmance Vs Internatinal Markets Index 30/12/ /08/ /08/2017 YTD Week % EURO STOXX % -2.9% Deutsche Berse AG % -2.3% CAC % -2.7% S&P % -1.6% FTSE 100 Index % -2.7% MSE Price Index % -0.1% MSE Ttal Return Index % 0.3% Surce: Blmberg; Malta Stck Exchange 3

3 MSETRX vs MSE Price Index MSE Equity Ttal Return Index Surce: Surce: Malta Malta Stck Stck Exchange Exchange MSE Equity Price Index On Mnday 31 st July 2017, The Malta Stck Exchange intrduced the current the MSE Equity Ttal Return Index ( MSETRX ). The MSE Price Index takes int cnsideratin capital gains r lsses f the securities that make up the index. It is a weighted average f the current market capitalizatin f these securities and is based n their last clsing trade prices The MSETRX is a ttal return index which tracks bth capital gains f the securities that make up this index and assumes that any cash distributins, such as dividends, are reinvested back int the index. The net cash dividend will be added t the market capitalizatin f the cmpany and will be accunted fr when the equity cncerned is trading ex-dividend. This index shws the benefit f reinvesting dividends. Bth indices are based at 1,000 n December 27,

4 MSE Price Index- YTD Dec-16 Jan-17 Feb-17 Mar-17 Apr-17 May-17 Jun-17 Jul-17 MSE Equity Ttal Return Index Surce: Malta Stck Exchange The MSE Price Index clsed at , up 0.4% YTD, retreating 0.1% this week 4

5 Lcal Market Overview Equities Security Trade Vlume Trade Value Week % Change Bank f Valletta plc 374, , % Fimbank plc 340, , % GO plc 2,200 7, % HSBC Bank Malta plc 26,035 51, % Internatinal Htel Investments plc 15,894 9, % Lmbard Bank Malta plc 2,130 5, % Lqus 1, % Midi plc 27,000 8, % Medserv plc 241, , % Malta Internatinal Airprt plc 39, , % Malita Investments plc 168, , % Mapfre Middlesea plc 3,572 6, % Malta Prperties Cmpany plc 205, , % Maltapst plc 8,226 16, % PG plc 33,288 46, % Plaza Centres plc 45,000 49, % RS2 Sftware plc 37,996 67, % Santumas Sharehlding plc 14,000 30, % Tigne Mall plc 3,144,250 2,924, % Surce: Malta Stck Exchange 5

6 Lcal Market Overview Crprate Bnds Security Trade Vlume Trade Value Week % Change AX24A 8, , % BV20A 5, , % BV30A 15, , % CB27A 11, , % CF26A 19, , % DF26A 13, , % EF27A 20, , % GC21A 5, , % GP23A 72, , % HB18A 5, , % HM24A 15, , % HP25A 47, , % IG24A 32, , % IH21A 14, , % IH25A 17, , % IH26A 45, , % IH26B 16, , % MD26A 28, , % Surce: Malta Stck Exchange 4

7 Lcal Market Overview Crprate Bnds Security Trade Vlume Trade Value Week % Change MF24A 2, , % MI21A 2, , % MI22A 25, , % MM26A 5, , % MS26A 50, , % PC26A 22, , % PG20A 2, , % PG22A 4, , % PT24A 126, , % SD27A 85, , % TI27A 378, , % VH24A 55, , % Surce: Malta Stck Exchange 4

8 Lcal Market Main Mvers Fimbank plc was this week s best frmer, increasing 12.5% t 0.80 ver 340,000 shares. Fimbank reprted psitive results fr the first half f 2017 n Thursday. Medserv plc was up 7.4% this week. The Bard f Directrs are scheduled t meet n the 23 rd f August t apprve 2017 interim results. Internatinal Htel Investments plc climbed 3% t 0.62 frm last week s clse at 0.60 Malita Investments plc clsed at 0.76 this week, 2.6% higher than last week s clse. Malita reprted their interim results n Wednesday. Tigne Mall plc fell by 4.1% t It annunced that HSBC Life Assurance (Malta) Ltd has transferred 3 millin rdinary shares in the cmpany t Amalgamated Investments SICAV plc, reducing HSBC Life Assurance (Malta) Ltd s sharehlding frm 19.96% t 14.64% Plaza Centres plc drpped 4.3% this week t 1.1 ver 45,000 shares Malta Prperties Cmpany plc retreated 2.9% this week fllwing the release f their interim results.

9 Lcal Market Cmpany Annuncements Malta Prperties Cmpany plc reprted results fr the first 6-mnths f 2017: Revenue decreased by 7.5% fr this perid primarily as a result f the prperties being held fr redevelpment. Operating prfit decreased by 22% reflecting bth the reductin in revenue and a 62% increase in administrative expenses. N dividend is being recmmended. Bank f Valletta plc ( BOV ) disclsed financial infrmatin fr the perid January t June BOV is changing its accunting year end frm 30th September t 31st December. Mediterranean Investments Hlding plc reprted half-yearly results: Revenue came in significantly higher in the first six mnths f 2017 when cmpared t the same perid last year, increasing frm 1.9m t 3.0. (+58%). Occupancy levels increased frm 10% t 18% by the end f June The Cmpany s perating perfrmance imprved YY as a result f higher revenue and successful cst cntrl measures. Malta Internatinal Airprt plc July 2017 Traffic results: 15.5% increase in passenger numbers ver July 2016 Malita Investments plc apprval f Interim financial statements: Results largely in line with previus year. Prfit befre tax frm cre peratins dwn 0.5% t 2.6millin with the decline driven by 41.9% higher administrative fees f 337,483 Malita annunced an investment f 7 millin n the Parliament Building with additinal revenue received as frm 1st June 2017 Fimbank plc reprted results fr the first 6-mnths f 2017: Net incme fr the perid rse 340% t $4.1millin driven by a better perating perfrmance and a reversal f impairment lss in 1H17, partially ffset by higher prfit frm trading assets in 1H16. N dividend is being recmmended.

10 Simnds Farsns Cisk plc - New Bnd Issue Bnd Characteristics: Issuer Simnds Farsns Cisk plc Maturity 13 th September 2027 Cupn 3.50% Price 100 Cupn Frequency Yield 3.50% Rank Amunt Issued Annually n the 13 th September Unsecured 20 millin Applicatin frms mailed t Maturing Bndhlders Clsing date fr applicatins received frm Maturing Bndhlders Expected Timetable 8 th August th September 2017 Intermediaries Offer 7 th September 2017 Cmmencement f interest 13 th September 2017 Expected date f cmmencement f trading 22 nd September 2017 Use f Prceeds The prceeds frm the Bnd Issue, which net f expenses are expected t amunt t apprximately 19.6 millin, will be used by the Issuer fr the fllwing purpses: A maximum amunt f 15 millin will be used by the Issuer fr the purpse f redeeming any utstanding balance f the Bnds remaining in issue as at the 1st f August ( Cutff Date ) The remaining amunt f apprximately 4.6 millin will be used by the Issuer fr general crprate purpses including the funding f the capital investment prgramme

11 Date 10 th August 23 rd August 24 th August Event Financial Events Calendar Tigne Mall plc apprval f Interim Accunts and cnsider the declaratin f an interim dividend Medserv plc apprval f Interim Accunts and cnsider the declaratin f an interim dividend Lmbard Bank plc apprval f Interim Accunts and cnsider the declaratin f an interim dividend 29 th August Midi plc, Hili Prperties plc, PTL plc and Premier Capital plc apprval f Interim Accunts The infrmatin presented in this cmmentary is slely prvided fr infrmatinal purpses and is nt t be interpreted as investment advice, r t be used r cnsidered as an ffer r a slicitatin t sell/buy r subscribe fr any financial instruments, nr t cnstitute any advice r recmmendatin with respect t such financial instruments. Curmi and Partners Ltd. is a member f the Malta Stck Exchange, and is licensed by the MFSA t cnduct investment services business