Movements in equity and bond indices
The MSE Equity Total Return Index gained 0.1% to finish the week at 8,414.784 points. A total of 18 equities were active, as seven gained, five declined and another six closed flat. During this two-day trading week, turnover stood at €0.2m, as 56 transactions were recorded.
The MSE Corporate Bonds Total Return Index gained further ground, with a 0.3% increase to close at 1,183.446 points. Since the beginning of the year the index is up by 1.9%. Out of 42 active issues, 24 headed north, while eight closed in the red. The 3.5% Simonds Farsons Cisk plc Unsecured € 2027 gained 4.1% to close at €102. On the negative side, the 4.35% Hudson Malta plc Unsecured € 2026 shed 2% to end the week at €98.01.
The MSE MGS Total Return Index closed marginally higher at 954.085, as 14 transactions worth €0.9m were executed. All traded bonds closed lower, in line with international markets, as global bond yields headed higher.
Investors believe that some of the major central banks, including the European Central Bank and the US Federal Reserve, will need to slow down the path of interest rates cuts.
Top market movements
In the banking sector, Bank of Valletta plc (BOV) and HSBC Bank Malta plc (HSBC) moved in opposite directions. BOV shares gained 0.6% to end the week at €1.71, as the equity traded within a tight price range. Turnover reached €27,801 as 13 deals were recorded. Year-to-date BOV shares have gained 20.4%.
Meanwhile, HSBC shares succumbed to selling pressure and declined by 0.7% to close the week at €1.43. Five transactions of 12,000 shares were executed. Despite this week’s decline, the equity is up by 11.7% over the past 12 months.
One thin trade in Mapfre Middlesea plc sent the equity lower by nearly 3%. The shares of the insurance operator closed the week at €1.36 and is down by 9.3% since the beginning of the year.
In the property sector, Plaza Centres plc and VBL plc posted similar declines. Plaza Centres plc declined by 3.2% to finish the week at €0.60, as one transaction of 5,000 shares was executed. Another transaction in VBL plc sent the equity’s price lower by 3.1% to close at €0.19.
Malita Investments plc shares topped the list of gainers with a 6% or €0.03 gain. The equity finished the week at €0.53, as three trades of 3,100 shares were recorded. Since the beginning of the year, the equity is down by 10.2%.
In the banking sector, Bank of Valletta plc (BOV) and HSBC Bank Malta plc (HSBC) moved in opposite directions
Meanwhile, the share price of AX Real Estate plc shares edged higher by 0.5% to close at €0.42. One trade of 484 shares was executed.
In the hospitality sector, International Hotel Investments plc shares closed 1.7% lower to end the week at €0.46 after trading at a weekly low of €0.412. Three small deals were recorded.
PG plc shares gained 2.8% or €0.05, as another three deals worth less than €5,000 were executed. The share price of the supermarkets’ operator traded between a weekly low of €1.82 and a high of €1.86, this week’s closing price.
Simonds Farsons Cisk plc shares posted a 0.8% gain to return to the €6.65 price level. Four transactions of €8,918 were recorded.
Grand Harbour Marina plc was the most traded equity, as five transactions of €94,120 were executed. The share price of the marina operator gained 2.2% to end the week at €0.95.
In the IT sector, BMIT Technologies plc gained 0.6% to finish the short trading week at €0.348.
Company announcements
Last Monday, Santumas Shareholding plc announced that profit before tax for the six-month period ended October 31, 2024, was €962,868, up from €346,006 during the same period last year. The portfolio of financial assets recorded a positive fair value movement of €509,878 while investment income for the period increased to €531,780.
We wish all our readers a healthy and prosperous new year.
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.