The MSE Equity Total Return Index lost 0.3%, as it closed at 8,043.488 points.
A total of 18 equities were active, of which nine headed north while another eight closed in the opposite direction. A total weekly turnover of nearly €0.4 million was generated across 111 transactions.
Yesterday also happened to be the final trading session for July, during which the local equities’ index shed 3.6%. The negative performance across large caps weighed heavily on investors’ sentiment.
On Friday, Bank of Valletta plc announced that the board approved the group’s and bank’s condensed interim financial statements for the six-month financial period commencing January 1, 2020 to June 30, 2020.
Profit before tax for the six months declined by 74.6% to €13.8 million (June 2019: €54.3 million). This represents an annualised return on equity (pre-tax) of 2.6%. Results for the first half of the year inevitably include the negative impact of the Covid-19 as it caused more than half of the drop in profit, directly or indirectly.
The banking equity finished the week 1 per cent higher as it closed at €0.98. Nine deals involving 21,323 shares were executed.
HSBC Bank Malta plc reached a four-month-low-price of €0.92 but closed slightly higher at €0.93 – translating into a 2% decline. A total of 28,537 shares changed hands over 20 deals.
FIMBank plc lost 9.5%, as it traded twice over 42,500 shares, ending the week at $0.38. Similarly, three deals involving 2,135 Lombard Bank plc shares dragged the price by 1% into the red. The bank closed at €2.04.
On Wednesday, Malta International Airport plc (MIA) announced that the board approved the group’s interim financial statements for the six months ended June 30, 2020.
The airport operator announced that the board approved the group’s interim financial statements for the six months ended June 30.
During the period under review, total revenue declined by 67%, from €44.6 million to €14.9 million, reflecting the significant downturn in traffic.
Revenue from the airport segment dropped by 73% to €8.4 million while revenue generated from the retail and property segment lost 51% as it stood at €6.5 million. Notwithstanding, EBITDA of the group decreased by 90.5% over the previous year, translating to a net loss of €2 million.
The equity was the most liquid, as turnover reached €81,759. MIA shares closed the week at €5.40 after touching a low of €5.20 yesterday. A total of 16 trades involving 15,097 shares were recorded.
On Monday, BMIT Technologies plc announced that during the Annual General Meeting, all resolutions on the agenda were approved. The equity closed 0.4% lower at €0.48. A total of 147,549 shares were spread across 15 transactions.
On Tuesday, GO plc announced that during the AGM, all the resolutions on the agenda were approved.
The AGM approved the payment of a final net dividend of €0.10 for the year ended December 31, 2019. Five deals involving 2,468 shares pushed the price 2.4% higher to €3.44.
On Thursday, RS2 Software plc announced that during the AGM, the shareholders considered and approved all resolutions on the agenda.
The equity reached a seven-week-low-price of €2.28 on Friday, but managed to recover as it registered a positive 1% movement in price. Seven deals involving 17,922 shares were executed. The equity closed the month 1.7% lower, yet on a year-to-date basis, the equity is still up 10.
On Friday, International Hotel Investments plc announced that all resolutions on the agenda were approved. The equity lost 2% as 39,119 shares changed ownership over nine deals, to close the week at €0.53.
Food and beverage company, Simonds Farsons Cisk plc traded 0.6% higher, as it closed at €8.00. Three deals involving 2,096 shares were executed.
International Hotel Investments plc say all resolutions on agenda approved
On a similar note, PG plc closed 1% higher at €1.96, as 7,551 shares were spread across three transactions.
In the property sector, all three active equities traded higher.
On Wednesday, Trident Estates plc announced that further to an expression of interest, the lease proposal at Trident Park has been selected as the preferred bid to house the office premises for the Financial Intelligence Analysis Unit (FIAU).
The equity registered the best performance as a sole deal of 700 shares pushed the price up by 11.3% to €1.67.
On Monday, Malita Investments plc announced that the board has decided to further postpone the AGM to September 3, 2020. Six deals involving 18,243 Malita shares pushed the price 1% higher to €0.92.
Malta Properties Company plc announced that all resolutions on the agenda were approved during the AGM. The equity reached €0.56.
On Thursday, MIDI plc announced that it plans to hold the AGM on October 1, 2020.
Harvest Technology plc traded twice over 7,665 shares, resulting into a 0.7% fall in price. The equity ended the week at €1.48.
The company announced that the board approved the company’s interim financial statements for the six-month period ended June 30. During the period under review, the group registered a 20% increase in revenue when compared to the previous half-year period, as it stood at €9 million.
A sole deal of 4,202 MaltaPost plc shares pushed the price higher by 1% to €1.19.
Mapfre Middlesea plc announced that AGM is scheduled to be held on October 27, 2020 remotely but will be streamed live. The equity was active but closed unchanged at €2.02.
Plaza Centres plc announced that the board approved the interim financial statements for the six months ended June 30.
The group’s results were significantly impacted by COVID-19. During the first six months of the year, the group generated revenue of €1,444,798 (2019: €1,716,479) a decrease of 15.8%, whilst EBITDA decreased by 24.6% to €1,058,751 (2019: €1,404,290).
Profit before tax decreased by 35.5% to €609,687 (2019: €944,522).
Main Street Complex plc announced that the board approved the audited financial statements for the financial year ended December 31, 2019 and the directors’ and auditors’ report. A final net dividend of €0.00831 per share was also approved. The equity was not active during the week.
On Friday, Medserv plc announced that the shareholders considered and approved the consolidated financial statements for the financial period ended December 31, 2019 and the directors’ and auditors’ report. No trading activity was recorded.
The MSE MGS Total Return Index advanced by 0.7% to 1,123.19 points. A total of 19 issues were active, of which gainers and losers tallied to seven a-piece. The 4.3% MGS 2033 (I) headed the list of gainers, as it closed 6.71% higher at €150.00. Conversely, the 4.5% MGS 2028 (II) lost 2.2% to close at 132.00.
The MSE Corporate Bonds Total Return Index lost 0.3% as it reached 1,080.61 points. Out of 35 active equities, 12 registered gains while another 12 lost ground. The top performer was the 5% Hal Mann Vella Group plc Secured Bonds € 2024, as it closed 3% higher at €106.00. On the other hand, the 3.85% Hili Finance plc Unsecured Bonds 2028 traded 3% lower, to end the week at €95.00.
In the Prospects MTF market, eight issues were active. The 5% The Convenience Shop Holding plc Unsecured Callable € 2026-2029 was the most liquid, as total turnover amounted to €20,000.
This article, which was compiled by Jesmond Mizzi Financial Advisors Limited, does not intend to give investment advice and the contents therein should not be construed as such.
For further information contact Jesmond Mizzi Financial Advisors Limited at 67, Level 3, South Street, Valletta, tel: 2122 4410 or email info@jesmondmizzi.com.