The MSE Equity Total Return Index lost a further 0.5%, as it reached 7,091.287 points. A total weekly turnover of €0.7 million was generated as 121 transactions were executed.
Out of 19 active equities, eight closed higher while another seven ended the week in the red. Despite the noticeable increase in equities which finished the week higher, the local equities’ index failed to increase, as Bank of Valletta plc (BOV) and RS2 Software plc (RS2) closed lower.
In the banking sector, BOV shares traded 23 times over a spread of 71,889 shares, dragging the price by 1.2% into the red, to €0.85.
On Tuesday, the bank announced that having further considered the overall situation and the European Central Bank’s (ECB) subsequent recommendation, it has decided to withdraw its original recommendation to the Annual General Meeting to approve the payment of a final dividend in respect of financial year 2019, and to re-assess the situation during the first quarter of financial year 2021, as recommended by the ECB.
Throughout the week, BOV shares traded at a weekly high of €0.86 and a low of €0.84.
Meanwhile, RS2 lost 4.6% as 7,070 shares were spread across five transactions. This translates into a €0.10 decline in price, as it reached the €2.08 price level, after trading at a weekly high of €2.18
Retail conglomerate, PG plc’s total weekly turnover climbed exponentially to €200,000 this week, versus €4,500 recorded during the previous week. The equity traded at a weekly low of €1.85, but managed to recover, as it closed unchanged at €1.88. Eight deals involving 107,330 were executed.
On Thursday, Malta International Airport plc announced that the Annual General Meeting shall be held remotely on November 11, 2020 in light of the current pandemic. MIA provided further clarification about the resolution proposing that the interim dividend declared, and paid earlier in 2019, be approved as a final dividend.
As previously announced, the directors resolved to withdraw their recommendation for the payment of further dividends to shareholders.
The best performance was recorded in the banking industry, as Lombard Bank plc closed 10.2% higher. The banking equity traded twice over 2,200 shares, ending the week €0.18 higher at €1.94.
Meanwhile, eight deals involving 105,088 HSBC Bank Malta plc shares resulted into a positive 1.4% change in price. The equity ended the week at €0.715 after having traded in tight ranges across all sessions.
Throughout the week, BOV shares traded at a weekly high of €0.86 and a low of €0.84
FIMBank plc was trading 6.7% higher at $0.32 until it returned to $0.30 on yesterday. Five deals involving 134,863 shares were executed. Since the beginning of the year the equity is down by 50%.
A sole deal of 2,000 International Hotel Investment plc shares resulted into a positive 2% movement in price. The equity reached the €0.50 price level.
Simonds Farsons Cisk plc traded twice on Wednesday over just 425 shares. The equity did not record more trading activity during the week, and closed lower by 3.5% to finish the week at €6.95 – its lowest since April 2018. The share price of the food and beverage company is down by nearly 40% on a year-to-date basis.
Telecommunications company, GO plc, was active only on Monday as it traded twice over 2,500 shares. The equity’s previous closing price of €3.00 was not altered. Its subsidiary, BMIT Technologies plc, was up by 2.1% as 73,100 shares changed hands over seven deals. The equity’s price increased to €0.488.
In the property sector four equities were active. MIDI plc registered the worst performance, as it closed 9.8% lower at €0.33. Five deals involving 49,950 shares were executed.
Malta Properties Company plc was down by 3.9% to €0.49, as 26,798 shares changed ownership across eight transactions. Similarly, a single deal of 10,000 Malita Investments plc shares resulted into a 2.3% fall in price, to end the week at €0.87.
Meanwhile, Trident Estates plc was the only positive performer in the sector, as it closed the week at €1.52 – translating into a 1.3% movement. A total of 57,829 shares were spread over eight deals.
On Thursday, Santumas Shareholdings plc held its 57th Annual General Meeting. The annual report and financial statements for the year ended April 30, 2020 comprising the financial statements and the directors’ and auditors’ report thereon were approved.
No trading activity was recorded during the week.
Two deals involving 1,000 Mapfre Middlesea plc shares dragged the price to a three-week low price of €1.92 – equivalent to a 4% fall in price.
Yesterday, Medserv plc announced that OMV, a multinational integrated oil and gas company headquartered in Vienna has, through its subsidiary OMV of Libya Limited, awarded Medserv a contract to provide international freight forwarding services.
Medserv will provide services for the transportation of goods and drilling related equipment from global sites to specified locations in Libya using the Medserv facilities at the Malta Freeport as a logistics hub in the supply chain.
The Framework Agreement shall enter into force on October 30, 2020 for a term of three years, with the option for OMV to extend the term by a further two years.
The equity saw 11,000 shares change hands across two transactions, leaving no impact on the previous closing price of €0.50.
MaltaPost plc closed the week 6.3% higher at €1.02 as 6,154 shares changed hands over two deals. Similarly, GlobalCapital plc was up by 1.9% to €0.54, as three deals involving 1,747 shares were executed.
The MSE MGS Total Return Index did not manage to maintain its positive streak as it lost 1%, reaching 1,131.834 points. Out of 20 active issues, three headed north while another 17 closed in the opposite direction. The 2.3% MGS 2029 (II) was the best performer, as it closed 1.6% higher at €127.00. On the other hand, the 2.5% MGS 2036 (I) ended the week 5.8% lower at €130.00.
The MSE Corporate Bonds Total Return Index gained another 0.3%, as it closed at 1,084.044 points. A total of 47 issues were active, 18 of which advanced while another 12 traded lower. The top performer was the 3.85% Hili Finance plc Unsecured Bonds 2028, as it registered a 1.9% increase, ending the week at €99.90. Conversely, the 3.75% Premier Capital plc Unsecured € 2026 lost 1.2%, as it reached the €100.25 price level.
In the Prospects MTF market, three issues were active. The 5% Luxury Living Finance plc € Secured Bonds 2028 was the most liquid, as a total weekly turnover of €39,988 was generated. The bond was also the only positive performer, as it closed marginally higher at €99.98.
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.
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