During a week characterised by high volatility in the international markets, the MSE Equity Total Return Index dropped by a mere 1.16 per cent to close at 9,334.004 points. A total weekly turnover of over €3.8 million was generated over 272 deals across 17 equities.
Malta International Airport plc registered the worst performance for the week as global fears due to the coronavirus continued to spread and affect the travel industry. The equity started off the week unchanged but declined drastically by Friday, registering a sharp decline of 11.68 per cent to close the week at €6.05. A total of 86,911 shares were traded across 52 deals for a total value traded of €545,995.
In the banking industry, HSBC Bank Malta plc registered a positive 0.95 per cent movement in price as it closed at €1.06. The bank registered the highest liquidity, as total weekly turnover amounted to €1.08 million. During the week, a mix of 1,029,932 shares changed hands over 61 transactions. A final net dividend of €0.014 per share will be paid to all shareholders as at close of trading on March 5, 2020.
Its peer, Bank of Valletta plc reached an 11-week low price of €1.025 on Thursday, but managed to recoup the loss the following day. A total of 115,577 shares were spread across 34 transactions. The bank’s previous week’s closing price of €1.05 was not altered.
Similarly, FIMBank plc executed 13 deals involving 109,046 shares. The bank’s equity price closed the week unchanged at €0.58.
Global fears due to the coronavirus continued to spread
In the property sector, Malta Properties Company plc declined to €0.61 on Monday, translating into an 8.96 per cent fall in price. Seven deals involving 34,700 shares were executed. On the other hand, eight deals involving 37,755 Malita Investments plc shares pushed the price 1.12 per cent higher, to close at €0.90.
International Hotel Investments plc closed in the red with a 2.60 per cent fall in price to €0.75. Nine deals involving 74,178 shares were executed.
Telecommunications company, GO plc, was up by 0.47 per cent, as 93,557 shares changed hands over 16 transactions. The equity reached an eight-week high price of €4.28 but closed the week two cents lower at €4.26. Similarly, its subsidiary, BMIT Technologies plc, registered a 1.85 per cent increase in price as it closed at €0.55. This was the outcome of 20 deals involving 229,620 shares.
RS2 Software plc ended the week in positive territory, as it closed 2.42 per cent higher at €2.54. A spread of 313,695 shares changed hands over 29 transactions.
Retail conglomerate, PG plc, reached the €2.00 price level on Monday but did not manage to sustain the gain until end of week. The equity closed 0.51 per cent lower at €1.95, as nine deals involving 222,327 shares were executed.
Simonds Farsons Cisk plc was active only on Friday as it traded three times over a mix of 4,000 shares. As a result, the price increased by 0.92 per cent, and closed at €11.00.
A sole deal of 2,000 MaltaPost plc shares pushed the equity into positive territory. The equity registered a 1.56 per cent increase as it closed at €1.30.
Mapfre Middlesea plc lost ground as it closed 0.85 per cent lower at €2.32. A total of 28,430 shares changed ownership over three deals.
On Thursday, a single trade of 2,350 Plaza Centres plc shares was executed. The price was up by 0.97 per cent to close at €1.04.
Two deals on slim volume dragged Medserv plc’s price 2.91 per cent downwards. The equity closed the week at the €1.00 price level.
Elsewhere, Grand Harbour Marina plc was active but closed unchanged at €0.55. Four deals involving 48,598 shares were executed.
In the Corporate Bond market, out of 45 active issues, 19 increased in price while another 16 closed in the opposite direction. The 4.5% Medserv plc Unsecured € 2026 headed the list of gainers as it closed 1.02 per cent higher to close at par. On the other hand, the 4.4% Central Business Centres 2027 Euro Unsecured lost 2.90 per cent, ending the week at €100.50.
In the Sovereign Debt market, 21 issues were active, of which one declined while the rest advanced, as yields drifted lower amid coronavirus fears. The only negative performer was the 4.6 per cent MGS 2020 (II) as it closed 0.19 per cent lower at €100.71. Meanwhile, the 3% MGS 2040 (I) was up by 1.33 per cent, ending the week at €144.46.
In the Prospects MTF market, nine issues were active. The 5% FES Finance plc Secured € 2029 was the most liquid, as it generated a total turnover of €108,777.
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 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, or on 2122 4410 or e-mail info@jesmondmizzi.com