The MSE Equity Total Return Index gained 0.2%, finishing the month of October at 7,107.928 points. Over €0.7m were traded across 119 transactions. Bank of Valletta plc (BOV) was the top performing equity among the large caps, while HSBC Bank Malta plc (HSBC) and GO plc headed south.
On the week, seven equities gained while another five closed lower. A total of 14 equities were active.
Yesterday also marked the final trading session for the month of October. On the month the local equity market declined by 2 per cent, as a number of large cap equities dragged the broader index further in the red.
In the banking industry BOV shares jumped by 3.5%, to end the week at €0.88, after trading at a weekly low of €0.85.
Trading volume increased to 324,012 shares, up from nearly 72,000 shares last week. As a result, 25 deals worth just under €0.3m were executed. Over the month the banking equity gained 1.2%.
Its peer, HSBC declined by 0.7%, to close the month at €0.71. The equity was the second most liquid, as 34 transactions worth €185,300 were recorded.
The share price of the banking equity traded between a weekly high of €0.72 and a low of €0.70. On the month, HSBC shares lost 6.6% and are down by 45% since the beginning of the year.
On Thursday the bank announced that its network will be making enhancements to its service offering and said that the pandemic accelerated the use of digital banking service, which led to further improvements in this area.
The bank also ensured that its customers will still have access to its branch network, contact center and digital and remote banking channels.
The bank announced that its branches in Mellieħa, San Ġwann, Żabbar and Żebbuġ will not be re-opening and confirms that its Ġżira and Rabat branches will reopen when the Covid-19 conditions permit.
These two branches, together with Swieqi and Żurrieq branches, will operate as tellerless. However, bank advisers will remain available.
The bank announced also that it will be reviewing its branch opening hours which will commence with the new Qormi flagship branch that will be inaugurated early next year.
Malta International Airport plc closed unchanged at €4.72 despite trading at a high of €4.78. However, demand for the equity was relatively shallow, as only four deals worth €7,500 were executed.
On the month the equity closed unchanged.
HSBC said that its branches in Mellieħa, San Ġwann, Żabbar and Żebbuġ will not be re-opening and confirms that its Ġżira and Rabat branches will reopen when the Covid-19 conditions permit
GO plc shares remained under selling pressure, as the equity shed another 3.3%, or €0.10, to close the week at €2.90. Trading in the equity started at last week’s close of €3, a level the equity failed to maintain as it declined to a four-year low.
During October, GO shares declined by 9.4%.
In the financial services sector, Mapfre Middlesea plc gained 2.6% or €0.05 to end the week at €1.97, after trading at a weekly high of €1.99. Four deals worth €10,000 were executed.
On Tuesday, the company’s Annual General Meeting was held where all resolutions and financial statements for the year ending December 31, 2019 have been approved.
Simonds Farsons Cisk plc traded unchanged at €6.95 over six deals worth €15,700, while PG plc managed a 1.6% gain, to close the week at €1.91. Seven transactions worth €70,400 were executed. The supermarket and retail operator is up by nearly 4% since the beginning of the year.
In the property sector, Trident Estates plc edged marginally higher to close at €1.51, after trading at a weekly high of €1.55. Malta Properties plc recorded a 6% gain to close at €0.52, as €10,400 were transacted over four deals.
On a similar note, Midi plc gained 3% on light trading volumes, while one deal of 5,000 Plaza Centres plc shares sent the equity lower by 4%.
Last Wednesday, Plaza Centres plc issued a company announcement to its shareholders to advise them that the company issued a tender to buy back 1 million ordinary shares at the price range of €0.90 to €1.
The company will be receiving offers between November 2 and November 4, 2020.
In the IT sector, RS2 Software plc shares lost nearly 4% to return to the €2 price level. The share price touched a weekly high of €2.10 after starting the week at €2.06.
However, it failed to close higher despite a surge in trading value. Thirteen deals worth €0.1m were recorded. Throughout the month of October RS2 shares declined by 9%.
In the same sector, Harvest Technology plc declined by 1.4% to finish the week at €1.45.
MaltaPost plc shares topped the list of gainers with a 15.7% or €0.16 gain. Eight transactions worth €17,400 were recorded. Medserv plc traded flat at €0.50, as 11,750 shares changed ownership.
The MSE MGS Total Return Index closed marginally lower at 1,131.61 points. A total of 14 issues were active, as turnover reached €1.6m across 48 transactions. The 2.3% MGS 2029 was the most liquid issue, as turnover reached nearly €0.3m.
The MSE Corporate Bonds Total Return Index lost another 0.3%, as it closed at 1,080.97 points.
A total of 53 issues were active, as 216 deals worth €3.5m were executed. The 3.65% GAP Group plc Secured 2022 was the most liquid as nine deals of €1.7m were recorded.
This article, compiled by 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 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 Limited at 67, Level 3, South Street, Valletta, tel: 2122 4410, or email info@jesmondmizzi.com