Movements in Equity and Bond Indices
The MSE Equity Total Return Index closed in the red, as it declined by 0.6% to close at 8,156.653 points. A total of 18 equities were active, as four headed north while another 11 closed in the opposite direction. Total trading turnover declined significantly, as it stood at €348,289, generated across 84 transactions.
The MSE MGS Total Return Index gained 0.4%, ending the week at 912.883 points. A total of 11 issues were active, seven of which registered gains, while two closed in the red. The 2.5% MGS 2036 headed the list of gainers, as it closed 0.7% higher, at €88.65. On the other hand, the 3.4% MGS 2027 ended the week 0.5% lower at €100.55.
The MSE Corporate Bonds Total Return Index experienced a slight increase of 0.03% to close at 1,180.355 points. Out of 64 active issues, 20 registered gains, while another 28 traded lower. The 4.35% SD Finance plc € 2027 topped the list of gainers, with a gain of 1.5%, as it closed at €99.50. Conversely, the 3.9% Browns Pharma Holdings plc € 2027-2031 declined by 3.5% to the €95 level.
Top 10 market movements
In the banking sector, HSBC Bank Malta plc gained 0.7% as it closed €0.01 higher at €1.51. A total of four trades on a trading volume of 4,292 shares were recorded. Total trading turnover tallied to €6,459.
Similarly, the equity price of APS Bank plc rose by 1% to the €0.52 level, as nine deals involving the exchange of 21,494 shares were recorded.
On the other hand, Lombard Bank Malta plc shed 2.5% to end the week at €0.77. This decline was the result of two trades worth €4,186.
The airport operating company, Malta International Airport plc (MIA) trended 0.9% lower to close at €5.65. MIA shares traded 10 times, with trading turnover reaching €46,784 on a volume of 8,365 shares.
The share value of GO plc declined by 1.4% during the week to close at €2.86. Six trades worth €15,312 were executed.
Similarly, Simonds Farsons Cisk plc lost 1.4% in its equity value during Tuesday and Wednesday’s trading sessions. The equity did not trade for the rest of the week as it closed at €6.85. Total weekly trading value tallied to €2,672. On a year-to-date basis, the equity is down 4.2%.
The hotel operating company, International Hotel Investments plc, closed 3.4% lower at the €0.40 level. Six trades involving the exchange of 53,508 shares were recorded.
Hili Properties plc plummeted by 8.7%, as four deals worth €16,269 were recorded. This decline in price means that the company’s equity is down by 11.2% since the beginning of January 2024.
The share price of Malta Properties Company plc experienced a significant 20.1% increase in its share price to close at €0.37. This price hike was the result of a total of 10 trades worth €70,587 recorded on Monday and Tuesday. The equity did not trade for the rest of the week.
One small trade of 333 MIDI plc shares pushed the share price 3.7% higher to close at €0.224.
Company announcements
MIA announced that traffic through Malta International Airport in June rose by 13.9% when compared to the same month the previous year, to total 858,738 passenger movements. Furthermore, aircraft movements for the month of June were also up by 14.7%, while seat capacity registered an increase of 13.5%.
The Board of Directors of LifeStar Holding plc and LifeStar Insurance plc met on July 8, 2024, to approve the annual report and consolidated financial statements for the financial year ended December 31, 2023. The board resolved that these will be submitted for approval to the shareholders at the forthcoming annual general meeting which will be held on July 31, 2024.
LifeStar Holding p.l.c. on a consolidated basis generated a total profit before tax of €1.2m compared to a restated loss before tax of €4.7m in 2022. Total group assets increased to €142m at the end of 2023 from €132m when compared to the previous year. Shareholder funds also increased by 4.1% to close off the year at €17.5m as against the same period last year of €16.8m.
LifeStar Insurance plc registered a profit before tax of €1.8m compared to a loss of €3.9m last year. Insurance revenues increased by 2.5% to close off at €5.6m versus €5.5m in the previous year. Insurance service results closed off 2023 at €2.3m compared to €1.4m in restated 2022.
Net insurance financial results also saw a good improvement over the previous year to close at €3m whilst administrative expenses increased by €1.2m over the same period last year to close at €4.2m. This increase was mainly due to higher administrative and shared service fees.
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.