Movements in equity and bond indices
The positive sentiment surrounding the MSE Equity Total Return Index held intact for another week, as the local equity index added another 1.5%, to close the week at 8,598.925 points. A total of 24 equities were active across 125 transactions worth €1m.
The MSE Corporate Bonds Total Return Index gained 0.4% to end the week at 1,184.526 points. A total of 55 issues were active across 165 transactions worth €1.3m. The 4% Eden Finance plc Unsecured 2027 was the most traded issue, as the bond closed at €99.90, 1% higher on the week.
The MSE MGS Total Return Index closed in positive territory with a 0.26% gain, as it reached 927.553 points. A total of 20 issues were active, as 44 transactions worth €0.8m were recorded. Trading activity was concentrated in the 5.25% MGS 2030 which closed at 111.50, and in the 4% MGS 2032 which finished the week at €105.70.
Top 10 market movements
Bank of Valletta plc (BOV) shares gained 2.4% to end the week at €1.68. BOV shares traded between a weekly low of €1.62 and a high of €1.68, as 35 deals worth €0.2m were executed. The banking equity is up by 18.3% since the beginning of the year.
Likewise, HSBC Bank Malta plc (HSBC) posted a 1.2% gain to close at €1.66. During this short trading week, eight transactions worth €26,300 were recorded. On a year-to-date basis, HSBC is among the best performing equities with a 30% gain.
On the downside, APS Bank plc shares lost 2.2% to finish the week at €0.494, as four transactions of 19,617 shares were executed.
Malta International Airport plc shares gained ground, as the equity posted a gain of 1.7% or €0.10 on the back of record traffic results for the month of July and a positive outlook for the rest of summer. The share price of the airport operator closed at €6.10, as 22 deals worth nearly €0.5m were recorded. During the week, MIA shares fluctuated between a low of €6 and a high of €6.15.
Meanwhile, GO plc shares traded flat at €3 as three transactions worth €27,000 were recorded.
Similarly, in the hospitality sector, International Hotel Investments plc shares traded flat at €0.45, as two transactions of 37,700 shares were executed.
In the property sector, Plaza Centres plc shares gained 12.5% to close at €0.63, while Midi plc shares jumped by 8.7% to end the week at €0.25. Hili Properties plc shares joined the list of gainers with a 7.4% gain, as the equity returned to the €0.202 price level.
Meanwhile, Malta Properties Company plc closed the week 5.7% higher at €0.37, and Malita Investments plc gained 1.2%. On the negative side, Trident Estates plc shares lost 1.7%, to close the week at €1.14, while AX Real Estate plc shed 1.3% to close at €0.45.
Company announcements
Last Monday, MIA published the traffic results for the month of July, during which the airport operator welcomed 951,861 passengers. This resulted in a 12% increase compared to the record passenger volumes handled in 2023. This result also confirmed July 2024 to be the busiest month in MIA’s history, as the first ever month to surpass 900,000 passenger movements. Seat capacity rose by 11.5%, as 90% of all available seats were occupied.
APS Bank plc announced that it has received MFSA approval for the dividend distribution, which will take place on September 6. Shareholders appearing on the register of members as at close of trading on August 22, 2024, will be entitled to receive the dividend.
LifeStar Insurance plc obtained regulatory authorisation to carry life and annuity business in Italy. The company’s intention to passport these insurance products into Italy is in line with its growth strategy, which includes the expansion of its business to other EU countries, thereby reaching out to new markets beyond the Maltese market.
The board of Santumas Shareholding plc is scheduled to meet on August 28, to consider and approve the audited financial statements for the year ended April 30, 2024.
Main Street Complex plc announced that the board is scheduled to meet on August 21 to consider and approve the interim financial statements and the distribution of an interim dividend.
The board of M&Z plc shall be meeting on August 27 to consider and approve the company’s unaudited financial statements for the six months ended June 30, 2024. During the meeting, the board shall also consider the payment of an interim dividend to the company’s shareholders.
RS2 Software plc announced that the board is scheduled to meet on August 28 to consider and, if deemed fit, approve the group’s and the company’s condensed interim financial statements for the six-month period ended June 30, 2024.
MIDI plc announced that the board of directors is scheduled to meet on August 30 to consider and approve the interim unaudited financial statements of the company for the six-month period ended June 30, 2024.
The board of Trident Estates plc is scheduled to meet on September 11 to consider and approve the company’s condensed consolidated interim financial statements for the six months ended July 31, 2024.
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 e-mail info@jesmondmizzi.com.