The MSE Equity Total Return Index lost further ground, as it closed 0.7% lower at 7,728.372 points. A total of 17 equities were active, four of which headed north while another eight closed in the opposite direction. Total turnover declined to €0.47 million, versus €1 million generated during the previous week. This was the result of 123 transactions.
In the banking industry, HSBC Bank Malta plc traded at a weekly high of €0.84 on Tuesday but did not manage to sustain this level, as it closed at €0.80.
A total of 14 deals involving 70,797 shares dragged the price by 2.4%. The share price of the banking equity is down by 11% since the beginning of the year.
Similarly, Lombard Bank Malta plc ended the week in the red at €1.90. The equity traded twice over a spread of 3,000 shares.
The worst performance was recorded by FIMBank plc shares, as they registered a double-digit decline of nearly 16%. Three deals involving 15,000 shares dragged the price to $0.37.
Bank of Valletta plc reached a 19-week low of €0.876 on Monday but ended the week slightly higher at €0.88 – equivalent to a 2.2% decline. This was the outcome of 27 deals involving 73,892 shares. The bank announced that the forthcoming Annual General Meeting shall be held on May 20, 2021.
Similarly, the board of Mapfre Middlesea plc approved a €20 million capital injection in favour of its subsidiary company MMSV to acquire additional shares in MMSV, as part of the latter’s recapitalisation exercise.
Last Thursday, the board also approved the audited financial statements for the financial year ended December 31, 2020. These shall be submitted for shareholders’ approval at the forthcoming Annual General Meeting, to be held on April 30, 2021.
The company registered a turnover of €75.12 million in gross premium written, translating into a 1% increase when compared to the previous year. Profit before tax dropped to €6.39 million from €23.82 million recorded in 2019.
A strong balance sheet was maintained, with its shareholder’s equity amounting to €77.05 million still keeping a strong regulatory solvency position as at December 31, 2020, under the Solvency II regime.
The directors recommend for the approval of the AGM, the payment of a final net dividend of €3.2 million, equivalent to €0.034782 per share. If approved, the final dividend will be paid on May 25, 2021 to all shareholders listed on the company’s share register as at May 12, 2021.
Seven deals involving 3,770 shares pushed the price by 6.3% into positive territory. The equity closed €0.14 higher at €2.38.
BMIT Technologies plc was the most liquid equity, as it generated a total turnover of €126,634. This was the result of 239,150 shares spread across 23 transactions. The equity ended the week flat at €0.53. Since the beginning of the year the equity is up by 10%.
Its parent company, GO plc, finished the week higher by 1.7%, as it reached a 10-month high of €3.62. Four deals involving 5,300 shares were executed. The share price of the telecoms company is up by 2.3% since the beginning of January.
Yesterday, RS2 Software plc announced that its managed service subsidiary, RS2 Smart Processing Ltd concluded a major processing outsourcing agreement with its business partner Alpha Fintech to provide acquiring services to Bank of New Zealand in New Zealand. The agreement has been signed for an initial term of three years with the option to extend yearly.
The equity declined by 0.6% to €1.79. Four deals involving 8,100 shares were executed.
Malta International Airport plc enjoyed a positive week, as it closed all trading session at €5.85, despite trading at a weekly low of €5.80. On the week, the equity gained nearly 2%. A total of 10,520 shares changed ownership across 16 transactions.
Food and beverage company, Simonds Farsons Cisk plc, traded in positive territory and closed 3.2% higher at €8.10. Seven deals involving 2,155 shares were executed.
Bank of Valletta plc reached a 19-week low of €0.876 on Monday but ended the week slightly higher
A sole deal of 6,975 PG plc shares did not alter the equity’s previous closing price of €2.02.
The board of MIDI plc is scheduled to meet on April 23, 2021, to consider and approve the audited financial statements for the year ended December 31, 2020. The board shall also consider the declaration of a dividend, if any, to be recommended to the Annual General Meeting of shareholders.
The equity traded once last Tuesday over slim volume and remained unchanged at €0.40.
Trident Estates plc was the worst performer in the property sector, as it dropped by 12.1% to €1.45 over a sole deal.
Similarly, Malta Properties Company plc closed 3.7% lower, as five deals involving 46,095 shares were executed. The equity ended the week at €0.52.
Malita Investments plc was also active, as it traded twice over 35,604 shares. A 0.6% fall in price was recorded, as it closed at €0.895.
Two deals involving 7,348 Harvest Technology plc shares did not impact the equity’s previous closing price of €1.48. Yesterday, after close of trading the Company announced that the Board of Directors has approved the audited financial statements of the Company for the financial year ended December 31, 2020.
The group generated a 20% increase in revenues over the previous year. Revenue during the financial year ended December 31, 2020 stood at €19.2m.
Net profit before tax stood at €4.5m, an increase of 48% over 2019, and a 44% improvement over the original projections. The Board of Directors has resolved to distribute a net dividend of €0.02 per share.
All shareholders on the company’s register as at April 1, 2021 shall be entitled to this dividend, which is expected to be paid around April 9, 2021.
Medserv plc opened the week lower at €0.58 but managed to recover, as it closed flat at €0.63. This was the result of four transactions involving 14,828 shares.
The board of Grand Harbour Marina plc is scheduled to meet on March 31, 2021, to consider and if deemed appropriate, approve the company’s financial statements for the financial year ended December 31, 2020. The equity was not active during the week.
The MSE MGS Total Return Index remained relatively unchanged, as it closed at 1,125.37 points. Out of a total of 15 issues, seven advanced while another six closed in negative territory. The 4.65% MGS 2032 (I) headed the list of gainers, as it closed 0.8% higher at €146.00. On the other hand, the 5.2% MGS 2031 (I) lost 0.9%, ending the week at €149.13.
The MSE Corporate Bonds Total Return Index closed marginally higher at 1,099.35 points. Out of 45 active issues, 23 registered gains while another 14 lost ground. The best performance of 11% was recorded by the 6% AX Investments Plc € 2024, as it closed at €117.50. Conversely, the 4.5% Grand Harbour Marina plc Unsecured € 2027 declined by 2.4% to €101.50.
In the Prospects MTF market, three issues were active. The 5% The Convenience Shop Holding plc Unsecured & Callable € 2026-2029 was the best performer, as it reached the €103.00 price level over two deals of 7,000 nominal.
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.