MSE Equity Total Return Index up 1.7%

The MSE Equity Total Return Index strongly rebounded from last week’s decline as the index rallied by 1.7 per cent at 9,015.856 points. Malta International Airport plc, HSBC Bank Malta plc and International Hotel Investments plc were the major contributors towards this gain. A total of 17 equities were active during the week of which eight headed north, while five lost ground. Total turnover was similar to that of last week, as 161 deals generated a total turnover of €1.33million.

In the banking industry, HSBC Bank Malta plc shares registered the only gain among its peers, as the equity gained by 1.8 per cent to close at €1.935. Total turnover amounted to €109,672, spread over 17 deals.

Its counterpart, Bank of Valletta plc, shares lost ground by one per cent to close at €2.07. Total turnover neared €300,000, spread over 44 transactions.

Their peers, FIMBank plc and Lombard Bank plc also closed in the red, having lost 2.1 per cent and 0.7 per cent of their value, closing at $0.71 and €2.20 respectively – with the former trading once on slim volume.

On Wednesday, the board of Directors of Simonds Farsons Cisk plc presented the interim report for the six months ended July 31.

The group’s turnover exceeded €49 million, an increase of 7.5 per cent over last year. Operating profit increased by €387,000, while profit after tax for the period from continuing operations, at €5.7 million, exceeded last year’s figure by 3.9 per cent. Earnings per share increased by 4.3 per cent to €0.193 for the mentioned period. The board of directors is recommending a net interim dividend of €1 million (2016: €1 million) to the ordinary shareholders who will be on the register of members of the company as at October 4. The interim dividend will be paid out of tax-exempt profits and is equivalent to €0.0333 (2016: €0.0333) per share.

During the week, SFC traded eight times, generating a total turnover of €232,829. The equity reached a fresh…

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