The MSE Equity Total Return Index advanced by a further 0.14%, as it reached 7,117.922 points. Out of 16 active equities, four headed north while 10 lost ground. Total weekly turnover increased by €0.3m to €1.1m, spread over 106 transactions.
This week’s top performance was recorded by International Hotel Investments plc, as it bounced back with a 12% change in price, after no trades were recorded the previous week. Total turnover amounted to €194,187 as 356,509 shares were spread across 15 transactions. The equity closed at an almost four-month-high price of €0.56.
RS2 Software plc ended the week €0.06 or 3% higher, as it reached the €2.06 price level. A total of 36,799 shares were spread across seven transactions.
HSBC Bank Malta plc (HSBC) shares were the most liquid, as turnover reached €0.5 million – which is five times more compared to the previous week.
The banking equity traded at a weekly low of €0.70 but closed unchanged at €0.71. A total of 37 deals involving 744,505 shares were executed.
Yesterday, HSBC published the resolutions which will be considered, and if deemed fit, approved during the Annual General Meeting, which is going to be held remotely on November 27.
The shareholders will receive and approve the audited accounts for the year ended December 31, 2019, together with the reports of the directors and auditors thereon.
On Monday, Bank of Valletta plc issued its interim directors’ statement.
The COVID-19 situation continued to strongly influence the activities of the bank during the third quarter of the year.
Elements of improvement over the second quarter were experienced as restrictions were eased, but the prolongation of the situation entails overall lower business volumes and revenues, compared to last year.
The share price of the bank lost 3%, as 102,197 shares changed hands over 16 deals, ending the week at €0.854.
FIMBank plc was only active yesterday, as five deals involving 52,022 shares were executed.
As a result, the price declined to $0.29 – equivalent to a 3.3% change in price.
The bank announced that during the Annual General Meeting, to be held on November 30, the audited accounts for the financial year ended December 31, 2019 together with the report of the directors, the corporate government statement, the remuneration report and the report of the auditors thereon, shall be received and approved.
On October 30, Lombard Bank plc announced that it has been informed by the FIAU that the latter has imposed an administrative penalty on the bank for what were considered as breaches in certain AML/CFT obligations.
On Monday, the bank informed the market with its intentions to contest each and every finding at the appeal stage.
During the week no trading activity was recorded in the banking equity.
Malta International Airport plc traded at a weekly low of €4.60 and a high of €4.72, but on the week closed 2% lower at €4.62. This was the result of six deals involving 8,112 shares.
On Thursday, GO plc entered into a Share Purchase Agreement with Newco United Group Hellas S.A.R.L. for the sale of its 24,887,737 shares in Hellenic Telecommunication and Telematic Applications S.A. (“Forthnet S.A.”) at a total price of €3,235,405. Completion of the transfer of the shares is scheduled to take place by not later than November 11, 2020. The proceeds from the sale of the shares will be redeployed in GO’s local operations.
Three deals involving 6,082 shares were executed, leaving no impact on the equity’s previous week’s closing price of €2.90, despite trading at a weekly high of €2.92.
Meanwhile, its subsidiary, BMIT Technologies plc declined by 5% to €0.464, as two deals involving 5,490 shares were executed.
COVID-19 strongly influence the activities of BOV during the third quarter of the year
Retail conglomerate, PG plc, was down by 0.5%, as 2,725 shares changed ownership across two transactions. The equity closed at €1.90. On a similar note, Simonds Farsons Cisk plc finished at €6.75 – the lowest price since April 2018.
A single transaction of 233 GlobalCapital plc shares resulted into a 7.4% fall in price. The equity headed the list of fallers, as it ended the week at €0.50. Similarly, Medserv plc traded twice over 11,400 shares, resulting into a negative 4% change in price. The equity closed at €0.48.
On Wednesday, Plaza Centres plc announced that as part of the share buy-back it has received 16 different offers from shareholders, for an aggregate of 3,822,632 shares, who expressed an interest in selling back their shares in the company.
The best offers received by the company was for a total of 1,000,000 shares at the price of €0.92c5. In line with the terms announced, these shares will be traded on the Malta Stock Exchange for value on November 10, 2020.
The equity ended the week at €0.925 – translating into a negative 3.7% change in price. Two deals involving 12,802 shares were executed.
In the property sector, Malita Investments plc advanced by 2.3% to €0.89, as 90,299 shares were spread across two transactions. On the other hand, Malta Properties Company plc traded 3.9% lower at €0.50, as three deals involving 3,000 shares were executed.
On Wednesday, the board of Harvest Technology plc announced that, having considered the position of the company, it has resolved to distribute an interim net dividend of €364,490 (subject to rounding), equivalent to €0.016 per share (having a nominal value of €0.50 per share).
The board also announced that the unaudited consolidated net profit before tax of the company and its subsidiaries (the Harvest Group) as at end of September 2020 amounted to €2,876,309. This marks an improvement of 22% over the projected consolidated net profit before tax of the Harvest Group for the period.
The equity closed 0.7% higher at €1.46, as 8,500 shares were spread over two deals.
The MSE MGS Total Return Index declined marginally once again to 1,131.08 points. Out of 19 active issues, gainers and losers tallied to nine-a-piece.
The 2.5% MGS 2036 (I) headed the list of gainers, as it closed 2.4% higher at €126.00. On the other hand, the 2.3% MGS 2029 (II) traded 5.5% lower at €121.00.
The MSE Corporate Bonds Total Return Index closed 0.1% higher at 1,081.82 points. A total of 50 issues were active, 14 of which advanced while another 20 declined. The best performer was the 5% Dizz Finance plc Unsecured € 2026 as it ended the week at €98.99 – translating into a 1.6% movement. Conversely, the 6% Pendergardens Developments plc Secured € 2022 Series II lost 4.2%, to close at €100.61.
In the Prospects MTF market, six issues were active. The 5% JD Capital plc Unsecured € Bonds 2028 was the most liquid and the only positive performer, as it closed the week at €98.70.
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.