Movements in equity and bond indices
The MSE Equity Total Return Index closed the week in the red, as the local equity index shed 0.4%, to finish at 8,568.455 points. A total of 22 equities were active across 151 transactions worth €1.1m.
The MSE Corporate Bonds Total Return Index gained 0.03% to end the week at 1,184.853 points. A total of 60 issues were active across 193 transactions worth €1.6m. The 3.5% AX Real Estate plc Unsecured 2032 was the best performing corporate bond, as it gained 3.2%. On the other hand, the 5% Dizz Finance plc Unsecured 2026 was the worst performer, as it lost 2.5%.
The MSE MGS Total Return Index closed in positive territory with a 0.2% gain, as it reached 929.362 points. A total of 22 issues were active, as 57 transactions worth €2m were recorded. The best performing Malta Government Stock (MGS) was the 3.85% MGS 2026, as it gained 1.9% to close at €101.93. On the other hand, the worst performing bond was the 3.4% MGS 2042, as it lost 0.8% to close at €100.20.
Top 10 market movements
Bank of Valletta plc (BOV) closed unchanged at €1.68, as the bank’s equity exchanged ownership 43 times on a volume of 204,461 shares. During the week, BOV shares traded between a weekly high of €1.68 and a low of €1.64.
HSBC Bank Malta plc (HSBC) shares lost 1.2% to end the week at the €1.64 price level. Total trading value tallied to €61,235 spread over six trades.
The shares of APS Bank plc gained 1.2%, as eight trades of 91,590 shares ensured that the bank’s equity closed at €0.50.
Lombard Bank Malta plc was also in the green, as the share price reached the €0.79 level, resulting in a week-on-week increase of 4%. Trading activity included two small trades worth €2,206.
The telecommunications company GO plc slid 3.3% to close at €2.90. The company’s shares traded three times across 709 shares.
Similarly, Simonds Farsons Cisk plc lost 2.2%, as the equity ended the week at €6.70. The equity was involved in the exchange of 9,242 shares, spread over seven trades.
Trident Estates plc jumped 4.4% to €1.19, as 11 trades on a volume of 17,420 shares were executed. Trading value tallied to €19,075.
The equity value of Malita Investments plc closed at €0.48, a week-on-week decline of 3.2%. The company’s shares exchanged ownership six times across 55,000 shares.
Hili Properties plc gained 2% to close at €0.206. One trade worth €4,913 was recorded during Wednesday’s trading session. The equity did not trade for the rest of the week.
The share value of MIDI plc plummeted 8% to end at €0.23. This decline was the result of one trade on a volume of 73,571 shares. Total trading value was €16,921.
Company announcements
The board of VBL plc approved the company’s interim directors’ report and interim consolidated financial statements for the six-month period ending June 30, 2024. The VBL Group reported a revenue of €1,700,660 reflecting a 16% increase on the previous year’s figure of €1,465,918.
This growth was primarily driven by a recovery in the tourism industry, which benefitted from stabilized market conditions following the pandemic. However, despite the revenue increase, profits were impacted by higher cost of sales and administration expenses. Gross profit declined by €190,160 to €69,706 when compared to the same period last year.
The board of Main Street Complex plc approved the company’s interim financial statements for the six-month period ended June 30. The company’s profit before tax for the first six months of 2024 declined to €197,064 from €234,400 in the previous year. This decrease was largely driven by a reduction in revenue because of certain tenants not renewing their agreements. The board agreed to distribute a net interim dividend of €104,677.
The Convenience Shop (Holding) plc announced that the board is scheduled to meet on Tuesday, to consider and approve the company’s half yearly report for the period ended June 30. The board shall also consider the distribution of an interim dividend to the company’s shareholders.
The board of Hili Properties plc is scheduled to meet on Wednesday, to consider and approve the Company’s unaudited interim financial statements for the period ending June 30.
Grand Harbour Marina plc announced that the board is scheduled to meet on Thursday, to consider and approve the half-yearly report for the six months ended June 30.
The board of International Hotel Investments plc will review the half-yearly financial report for the period ended June 30 by Friday.
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.