The MSE Equity Total Return Index (MSE) closed the week in the red, with a 1.3% decline to finish the week at 7,997.717 points. Tourism sensitive sectors and banks led the way lower, as International Hotel Investments (IHI), Malta International Airport plc (MIA) and the two major banks’ shares declined.
Turnover declined sharply to €0.3m from €1.5m the previous week. Seventeen equities were active, as nine declined and another five gained.
The MSE is down by 5.6% since the beginning of the year.
IHI shares declined by nearly 14%, as the equity finished the week at €0.57, a level last seen in the beginning of April.
Two trades worth €1,500 were executed on Thursday. The share price of the hotels’ operator is down by 21% since January.
MIA plc shares traded at a weekly high of €6.35 but found little support at this level, as the share price settled at €6.30. Trading value reached €75,700 as 10 deals of 12,000 MIA shares were executed.
On Thursday, the company announced that the Board of Directors of the company is scheduled to meet on Wednesday, July 28 to consider and approve the Group’s interim financial statements for the six months ended June 30, 2021.
In the banking sector Bank of Valletta plc (BOV) shares declined by 2.7% or €0.025, as activity was unusually low. The equity closed the week at €0.90.
In fact, the banking equity was only active on Tuesday and Thursday over six deals worth nearly €15,000. Since the beginning of the year, BOV shares are down by 5.3%.
During the week the bank announced that the Board of Directors is scheduled to meet on Thursday July 29, 2021 to consider and approve the Group’s and the Bank’s interim financial statements for the six-months ended June 30, 2021.
In the same sector, HSBC Bank Malta plc shares shed 2.4%, as the share price of the banking equity closed at €0.81, after trading at a weekly low of €0.79. The equity was only active on Wednesday, as four trades worth €5,500 were recorded.
Lombard Bank plc traded flat at €1.87, as three transactions worth €16,000 were executed on Monday.
FIMBank plc shares jumped by 12%, as the final deal during yesterday’s session lifted the price to $0.358, after trading at a low of $0.30. Two deals over slim volume were executed. On Thursday, the bank held its AGM where all resolutions on the agenda were approved.
Bank of Valletta plc shares declined by 2.7% or €0.025, as activity was unusually low
Telecommunications company GO plc’s shares closed the week 1.2% higher, as similar gains were recorded on Monday and Wednesday. The equity ended the week at €3.40.
In the IT sector, BMIT Technologies plc kicked off the week in the red, as the share price of the technology company lost 4% on Monday.
The equity regained some of the lost ground yesterday, as BMIT shares finished the week at €0.49. However, the equity still closed 2% lower on the week. A total of 127,000 shares changed ownership across five transactions.
RS2 Software plc shares gained 4% and closed the week at €1.79, following a 9.5% drop last week. Two trades of 12,000 shares were executed.
No trading took place in the company’s preference shares.
Simonds Farsons Cisk plc shares returned to the €8.95 price level, as the equity posted a 5.3% gain. During the week, the equity’s price moved between €8.75 and €8.95, as three thin trades were executed.
PG plc shares traded flat at €2.26, as 13,400 shares changed ownership over seven deals.
The share price is up by 13% since January.
In the property sector, Trident Estates plc closed the week 6.7% higher, as one deal during yesterday’s session sent the equity €0.10 higher to the €1.60 price level.
Malta Properties Company plc failed to maintain the gain it recorded early in the week, as a 6.3% decline on Wednesday sent the equity’s price back to €0.525.
On the week, the share price lost 2.8% or €0.015, as over 128,000 shares were traded. The company announced that during the Annual General Meeting (AGM) all resolutions on the agenda were approved.
Plaza Centres plc declined by 37.7% over one transaction of 350 shares, executed during the opening minutes of yesterday’s trading session.
This week’s decline dragged the equity 46% in the red on a year-to-date basis.
MIDI plc shares declined by 15.5% to end the week at €0.36.
No trading activity was recorded in the first four trading sessions, while one deal of 350 shares was executed during yesterday’s session.
Loqus Holdings plc shares declined by 35.6% to close the week at €0.063. Three trades of 12,000 shares were recorded.
The MSE MGS Total Return Index gained 0.5%, to end the week at 1,112.25 points.
The 4.65% MGS 2032 was the most active issue, as six deals worth nearly €0.5m were executed.
The newly-issued 1.8% MGS 2051 closed the week higher at €104.50.
The MSE Corporate Bonds Total Return Index ended the week 0.5% higher at 1,125.34 points. A total of 40 issues were active, as turnover reached €2m across 188 transactions.
The 3.5% GO plc Unsecured Bonds 2031 closed at €104.94 and was the most traded bond.
In the Prospects MTF market, activity was spread across 15 transactions worth €90,000.
The 5% Luxury Living Finance plc Secured 2028 was the most liquid, as weekly turnover reached €58,000.
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.