Movements in equity and bond indices
The MSE Equity Total Return Index (MSE) closed the week marginally lower, with a 0.2% decline to finish at 8,103.346 points. Total weekly turnover dropped to €0.5m across 106 deals. A total of 24 equities were active, as eight gained, 10 declined, and the rest remained unchanged.
The MSE Corporate Bonds Total Return Index erased the previous week’s gain ending the week 0.2% lower at 1,178.840 points. A total of 62 bonds were active, as 23 gained while another 20 declined. The 3.75% Bank of Valletta plc Unsecured Sub € 2026-2031 was the best performing corporate bond, as it gained 5.6% to close at €95. On the other hand, the 3.85% Hili Finance Company plc Unsecured € 2028 suffered the biggest drop, as it shed 3% to €97.01.
The MSE MGS Total Return Index declined by 0.6%, to end the week at 905.683 points. A total of 16 issues were active, as two advanced and 10 declined. The 4.8% MGS 2028 was the best performer, as it gained 0.6% to close at €106.32. The 3% MGS 2040 suffered the biggest drop to close at €90.35, lower by 4.9%.
Top 10 market movements
Malta International Airport plc witnessed a slight decrease in its share price, closing at a weekly low of €5.70 which translates to a 0.9% decline. A total of 5,511 shares exchanged hands over five deals, generating a total turnover of €31,448.
Bank of Valletta plc (BOV) closed in the green at a weekly high of €1.41, gaining 0.7%. The banking equity was the most liquid, as it generated a total of €258,059 across 37 deals.
The share price of International Hotel Investments plc increased slightly as a result of three deals involving 2,447 shares. The equity ended the week at €0.45, reflecting a gain of 0.9%.
FIMBank plc experienced a significant decrease of 15.8% in its share price, closing at $0.155. This was the result of a single trade involving 192 shares.
Lombard Bank Malta plc observed a 6.2% decline, closing at €0.83. Two deals of 3,000 shares were executed.
LifeStar Holding plc closed the week at €1 after trading at a weekly low of €0.85.
GO plc erased the previous two weekly gains, returning to the €3.04 price level, reflecting a decline of 1.9%. During the week, the equity reached a weekly high of €3.06 and a low of €2.96. Four deals worth €28,783 were executed.
MIA plc witnessed a slight decrease in its share price
Simonds Farsons Cisk plc saw a modest increase of 0.8% in its share price, closing at €6.70. A total of four deals generated a weekly turnover €12,438.
The share price of MedservRegis plc fell by 9.1%, closing at a weekly high of €0.60 despite trading at an intra-week low of €0.26. Two trades worth just €86 were executed.
MIDI plc followed suit, joining the list of losers after recording a weekly decline of 13.3%. A single deal of trivial volume pushed the share price to the €0.222 price level.
Company announcements
HSBC Bank Malta plc held its AGM on April 18, 2024, where all the resolutions were approved.
The board of Malita Investments plc has approved the audited financial statements of the Company for the financial year ended December 31, 2023. When compared to the previous financial year, the company registered an increase of 180% in profits, totalling €24.65m. The increase was mostly due to the €18.1m change in fair value of investment property. The board resolved to recommend to the AGM the approval of an additional net dividend of €0.0185 per share.
The board of Harvest Technology plc approved the audited financial statements of the Company for the financial year ended December 31, 2023. During the year under review, the Group registered a profit for the year of €0.6m, 56% lower when compared to the previous year’s profit of €1.3m. The Company attributed the decline in performance to a delay in certain contracts that were expected to be awarded in 2023 which were subsequently won in 2024, and a provision charge amounting to €0.5m in respect of an unsuccessful project at Apco Limited due to its sub-contractor being unable to meet its contractual obligations. The board announced that it has resolved to distribute a final net dividend of €0.005 per share.
The boards of VBL plc and Main Street Complex plc are scheduled to meet on April 24, 2024 to consider and approve the Companies’ audited financial statements for the financial year ended December 31, 2023.
Similarly the board of Grand Harbour Marina plc is scheduled to meet on April 26, 2024 to approve the Company’s financial statements for the financial year ended December 31, 2023.
The board of International Hotel Investments plc announced that it shall meet on April 30, 2024, to consider and, if deemed fit, approve, the audited financial statements for the financial year ended December 31, 2023.
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.