Movements in equity and bond indices
The MSE Equity Total Return Index (MSE) registered a gain of 1.2%, as it closed the week at 8,310.834 points. A total of 19 equities were active during the four-day trading week, 11 of which registered gains while another five lost ground. A total weekly turnover of €0.66m halved when compared to the previous week, generated across 105 transactions.
The MSE MGS Total Return Index lost ground, as it closed 0.1% lower at 906.438 points. A total of 21 issues were active. The best performance was recorded by the 1.8% MGS 2051 issue, as it closed 25.5% higher at €78. On the other hand, the 3% MGS 2040 closed 2.7% lower at €90.50.
The MSE Corporate Bonds Total Return Index retracted by 0.2%, to close at 1,180.674 points. There were 64 active issues during the week, as losers and gainers tallied at 23 each. The 4.85% Melite Finance plc Secured € 2028 headed the list of gainers, closing 5.9% higher at €90.00. Conversely, the 4.85% JD Capital plc Secured € 2032 S1 T1 closed 8.5% lower at €92.01.
Top 10 market movements
Bank of Valletta plc (BOV) headed the list of losers, ending the week at €1.40. BOV was active across 21 deals involving 279,600 shares, dragging the share price 4.1% lower. This equity also registered the highest liquidity of €391,699 during the week with the share price fluctuating between a weekly high of €1.43 and a low of €1.36.
On the other hand, its peer HSBC Bank Malta plc (HSBC), observed a gain of 0.7%, to close at a weekly high of €1.42. This was the outcome of 20 transactions worth €78,565.
APS Bank plc followed suit, as the equity finished at €0.58, translating into an increase of 2.7%. A total of 74,199 shares spread across nine deals generated a turnover of €42,232.
Lombard Bank Malta plc experienced a 2.5% decrease in its share price. Despite trading at a weekly high of €0.80 and a low of €0.77, the equity ended the week at €0.79. Ten transactions involving 40,704 shares worth €31,747 were executed.
Mapfre Middlesea plc ended the week 2.2% higher at €1.42, a price last seen over two months ago. This was the result of two deals of 1,046 shares.
The share price of International Hotel Investments plc (IHI) rose by 8.9%, concluding the week at a high of €0.49. Total turnover reached €7,215, as a result of four transactions. Despite the increase, the equity remained 14.8% down year-to-date.
A sole deal of 1,047 RS2 Software plc Ordinary shares yielded a marginal decline of 1.9%, to end the week at €1.05.
Malta International Airport plc erased the previous week’s decline, by registering a 0.9% increase in price, returning to the €5.70 level. A total of 11,459 shares exchanged ownership across 15 deals, generating a total turnover of €64,589.
In the property sector, MIDI plc demonstrated strong performance with a double digit increase of 15.3% in its share price, closing at a weekly high of €0.256. Seven deals worth €14,472 were executed.
Malta Properties Company plc showcased significant growth with a 21.9% increase in its share price, closing at €0.378. Four trades of 11,899 shares with total trading value of €3,856 were executed.
Company Announcements
HSBC Bank Malta plc announced the bank’s Q1 performance. HSBC reported strong profits before tax for Q1 2024 of €39.3m - an increase of 48% over the €26.5m profit reported in the same period last year. The higher interest rate environment was the biggest contributor to the increase in profits.
MAPFRE Middlesea plc held the company’s AGM on April 30, 2024, whereby all resolutions were approved. The board approved a final gross dividend of €0.073057 per share.
The board of IHI announced that the financial statements for the year ended December 31, 2023, have been approved. The group registered a loss after tax of €11.3m, reflecting an increase from the €2.3m loss in the prior period by €9m. No dividends were declared for the financial year 2023.
Hili Properties plc announced that the Audited Consolidated Financial Statements for the financial year ended December 31, 2023 have been approved by the board. The company closed the financial year with a consolidated profit after tax of €6.4m.
The financial analysis summary published in June 2023 contained a projected consolidated profit after tax of €5.1m. This variance resulted mainly from planned property disposals being postponed, due to slower transaction activity in the market during 2023 which resulted in full-year revenues for these assets. Secondly, inflation rates registered were higher than anticipated, which contributing to increased rent indexations and ultimately higher revenues.
The board of Simonds Farsons Cisk plc shall be meeting on May 29, 2024 to consider and approve the audited financial results for the year ended January 31, 2024. During the meeting, the board shall also consider the declaration of a dividend to be recommended to the company’s forthcoming AGM.
The board of Trident Estates plc shall be meeting on May 30, 2024 to consider and approve the audited financial results for the year ended January 31, 2024 and to consider the declaration of dividend, if any, to be recommended to the forthcoming AGM.
The Convenience Shop Holding plc announced that during the AGM held on the April 29, 2024, the board approved all the resolutions. The board approved a final net dividend of €1,108,000, which amounts to a net dividend of €0.036 per share.
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.