The MSE Equity Total Return Index declined by 0.5% despite a sharp increase in trading activity. The MSE closed at 7,602.998 points, as 20 equities were active across 119 transactions worth €0.8m. Ten equities gained and five lost ground, as insurance companies Mapfre Middlesea plc and LifeStar Insurance plc posted double-digit declines. Since the beginning of the year, the MSE is down by 7.3%.
Negative sentiment hit the financial sector, as four out of six active financial equities registered a decline. Bank of Valletta plc started the week in negative territory but managed to close unchanged at €0.85. BOV was the most liquid equity, as it generated a total turnover of €124,488.
Similarly, Lombard Bank Malta plc also closed flat at €1.95. This was the outcome of two trades of slim volume.
On the other hand, 11 transactions of 88,259 HSBC Bank Malta plc shares dragged the share price 1.37% lower. The equity closed at €0.72, despite trading at a weekly high of €0.75.
Shares in APS Bank Malta plc lost 1.5%, to end the week at €0.64. A total of 12 trades worth €47,691 were executed.
Mapfre Middlesea plc retracted by 13% on two transactions of slim volume. The equity shaved €0.23 off its share price, to close at €1.52.
LifeStar Insurance plc headed the list of fallers, as a sole transaction worth just €20, dragged the price 55.6% lower, to close at €0.20.
The board of LifeStar Insurance plc approved the unaudited half-yearly financial report for the six-month period ended June 30, 2022. The group incurred a loss after tax of €4.5m, compared to the prior loss after taxation of €2.1m.
Last Monday, the board of LifeStar Holding plc approved the unaudited half-yearly financial report for the six-month period ended June 30, 2022. The group incurred a loss after tax of €4.7m, compared to the prior loss after taxation of €2.4m.
Malta International Airport plc closed in positive territory at €5.95. This translated into a 0.9% increase in price, as 5,900 shares changed ownership over six transactions.
In the IT sector, RS2 Software plc Ordinary shares declined by 0.7%, to close at the €1.37 price mark. This was the result of 11 deals involving 27,215 shares.
On the other hand, Loqus Holdings plc was the best performing equity, as it gained 27% on two deals in which a total of 19,666 shares changed hands.
BMIT Technologies plc ended the week in positive territory with a 2% change in price. The equity’s price went up to €0.48, as seven deals involving 225,700 shares were executed.
Its parent company involved in the telecommunications sector, GO plc, kept the previous week’s share price of €3.04. A total of six trades worth €80,295 were executed.
The board of the MIDI plc approved the company’s unaudited interim financial statements for the six months ended June 30, 2022. During the first half of 2022, MIDI posted a loss after tax of €0.5m, contrasting sharply with the profit after tax of €1m for the same period in 2021.
Total assets have decreased marginally from €225.7m as at December 31, 2021 to €224.8m, while the group’s net asset value decreased from €102.4m to €101.8m reflecting the loss being posted for the relevant period. Consequently, the net asset value per share stands at €0.475, €0.003 lower than December 31, 2021.
Also in the property sector, Malta Properties Company plc, ended the week at €0.54 - a 3.9% increase in price. This was the outcome of four deals involving 10,100 shares.
Similarly, Malita Investments plc was up by 0.7%, as four deals involving 65,000 shares pushed the price to €0.78.
A sole transaction of 10,000 Trident Estates plc shares added 0.73% to its share price, to close at €1.38.
Elsewhere, Hili Properties plc was active but closed unchanged at €0.24. The same fate was experienced by hotelier, International Hotel Investments plc, as it closed the week at €0.72.
Last Monday, the board of International Hotel Investments plc approved the half yearly report for the period ended June 30, 2022. The group registered total revenues of €95.8m and posted an EBITDA of €17.3m in the first six months of 2022. This compares to a revenue of €34.6m and an EBITDA of a negative €0.8m in the corresponding period last year.
IHI reported a profit after tax of €0.8m compared to a loss of €26.4m at the same time last year.
Revenues in the first half of 2022 are now at 73% of pre-pandemic levels registered in the same period for 2019. The company’s focus on cost controls has remained in place, resulting in an EBITDA conversion at 18%.
Retail conglomerate, PG plc’s shares gained 1.9%, or €0.04, as the equity’s price closed the week at €2.20. PG was active over three transactions worth €32,586.
Food and beverage company, Simonds Farsons Cisk plc, also registered an increase of 4%, to close at €7.75. This was achieved over six transactions in which a total of 12,716 shares changed hands.
Main Street Complex plc registered a double-digit gain of 15% to €0.46, albeit over a single trade of just 223 shares.
MaltaPost plc advanced by 4.8%, as the equity featured in eight separate deals. As a result, the equity ended the week at €1.10.
The board of Grand Harbour Marina plc (GHM) approved the half-yearly report of the company for the financial period ended June 30, 2022. Total revenue contracted from €1.9m to €1.7m for the same period last year due to lower utility consumption by superyachts. The company registered EBITDA of €0.8m, lower by €0.1m when compared to the same period last year. With net finance costs of €0.4m and depreciation of €0.2m, the company achieved a €0.2m profit before tax, €0.1m lower than 2021.
Last Tuesday, the board of M&Z plc approved the company’s unaudited interim financial statements for the six months ended June 30, 2022. The company reported a 26% increase in core revenue for the first six months of the year, when compared to the same period in 2021.
Revenue for the period was €13.4m, up from €10.6m during the same period in 2021. EBIDTA increased from €1.6m during the first half of 2021, to €1.9m during the first half of 2022. The directors approved the payment of a net interim dividend of €396,000, 0.009c per ordinary share.
The MSE Corporate Bonds Total Return Index was back in the red following last week’s gain. The index closed at 1,155.438 points which translates into a 0.5% decline. Out of 57 active issues, 15 registered gains, while 30 declined. The 3.5% Bank of Valletta plc € Notes 2030 S1 T1 was the top performer, as it closed 2.6% higher at €98.50. On the contrary, the 4% MIDI plc Secured € 2026 headed the list of fallers with a 2.4% decline, to close at €100.
The MSE MGS Total Return Index closed 1.4% lower at 927.571 points. A total of 11 issues were active, one of which gained, while another eight declined. The 2.4% MGS 2041 (I) registered a 0.5% appreciation, to close at €91.22. On the other hand, the 4.1% MGS 2034 (I) fell by 5.8%, to close the week at €109.90.
In the Prospects MTF market, six issues were active, with the most active being the 5% Luxury Living Finance plc € Secured Bonds 2028 issue. This week it has generated a total turnover of €10,989.
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 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.