Movements in Equity and Bond Indices
The MSE Equity Total Return Index returned to positive territory, gaining 0.9% as it reached 8,192.582 points. Turnover exceeded usual levels, reaching €3.1m with 175 deals recorded. A total of 22 equities were active, as eight posted gains while 10 declined.
The MSE MGS Total Return Index recorded a slight gain of 0.1%, closing at 918.836 points. Out of 28 active issues, 11 gained while 15 headed south. The 2.9% MGS 2032 was the best performer with a 1.6% gain, ending the week at €96.95. On the other hand, the 4.65% MGS 2032 ended the week 0.4% lower at €109.06.
The MSE Corporate Bonds Total Return Index increased by 0.2%, closing at 1,185.101 points. A total of 65 issues were active, 28 of which advanced while another 15 traded lower. The top performer was the 3.75% Mercury Projects Finance plc Secured € 2027, as it registered a 4% gain, ending the week at €100. Conversely, the 3.25% AX Group plc Unsecured Bonds 2026 lost 3%, as it closed at €96.51.
Top 10 market movements
Bank of Valletta plc recorded a gain of 0.7% to finish the week at €1.48. The equity traded at a weekly high of €1.50 and a weekly low of €1.45. A total of 269,002 shares exchanged hands across 44 deals, generating a turnover of €398,477.
Similarly, HSBC Bank Malta plc headed north, as nine deals involving 34,894 shares were executed. The banking equity ended the week at €1.58, translating in an increase of 1.3%. Weekly turnover totaled €55,311.
LifeStar Insurance plc experienced a significant 135.3% increase in its share price, closing at €0.40. This was the outcome of three deals involving 12,000 shares worth €4,800.
On the other hand, Mapfre Middlesea plc closed the week in the red, declining by 5.4%. Despite trading at a weekly high of €1.28, the equity closed at €1.23. Three deals worth €11,830 were executed.
Tigne Mall plc was the most liquid equity, as 2.6m shares exchanged hands across 29 deals, generating a turnover of €2.4m. The equity recorded a double-digit gain of 15.9%, reaching a new 2024 high of €0.95.
VBL plc joined the list of gainers with a week-on-week increase of 41.3%, closing at €0.226. This was the outcome of 1 deal worth just €509.
The share price of MIDI plc advanced by 11.6%, closing at €0.25. Two transactions involving 8,500 shares were executed.
A total of 17 deals of 11,648 Malta International Airport plc shares generated a total weekly turnover of €65,574. The equity gained 2.7% to end the week at €5.70.
IT sector equities closed the week generally in the red, as RS2 Software plc experienced a 3% decline, to finish the week at €0.795. This was the outcome of a sole trade worth €580.
The share price of BMIT Technologies plc fell by 4.5%, ending the week at a weekly low of €0.34. Ten deals of 51,109 shares generated €16,784 in turnover.
Company announcements
The board of APS Bank plc met on July 25, 2024 and approved the condensed interim financial statements for the half year ended June 30, 2024. For the period under review, the Group delivered an after tax profit of €6.9m, lower by €4.1m when compared to the same period in 2023. At the Bank level, profit after tax totaled €6.7m, lower by €3.6m. The board is declaring the payment of an interim net dividend of €2m, translating to €0.00527 cents per ordinary share.
The board of Bank of Valletta plc is scheduled to meet on July 29, 2024 to consider and approve the Group’s and the Bank’s interim financial statements for the six-month financial period ending June 30, 2024.
The board of Tigne Mall plc is scheduled to meet on August 2, 2024 to consider, and approve the Company’s interim unaudited financial statements for the six-month period ended June 30, 2024. During the meeting, the board will also consider the payment of an interim dividend.
The board of BMIT Technologies plc is scheduled to meet on August 6, 2024 to discuss the Group’s interim unaudited financial statements for the six-month period ended June 30, 2024.
The board of Malta Properties Company plc is scheduled to meet on August 8, 2024 to discuss the Group’s interim unaudited financial statements for the six-month period ended June 30, 2024.
The board of GO plc is scheduled to meet on August 9, 2024 to discuss the Group’s interim unaudited financial statements for the six-month period ended June 30, 2024 and to consider the payment of an interim dividend.
The board of Lombard Bank Malta plc will be meeting on August 28, 2024 to consider and approve the Group’s and the Bank’s interim financial statements for the half year ended June 30, 2024.
Mercury Projects Finance plc announced that the €20m 5.3% secured bonds maturing in 2034 have been granted regulatory approval by the MFSA for the issue and admissibility to listing on the official list of the MSE.
The Accountant General announced the prices and yields for two new Malta Government bond issues. The 3.4% MGS 2027 is being offered at €100.90 which corresponds to a YTM of 3.0958%. The 3.5% MGS 2034 is being offered at €100 which corresponds to a YTM of 3.5%. Applications open on Monday, July 29 and close on Wednesday, July 31 or earlier at the discretion of the Accountant General.
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.