Movements in Equity & Bond Indices
The MSE Equity Total Return Index ended its streak of three consecutive weeks of losses, as it closed 0.2% higher at 8,372.370 points. Out of 19 equities, nine headed north while another seven closed in the opposite direction. Total weekly turnover doubled to €1.1m and was generated across 201 transactions.
The MSE MGS Total Return Index headed south, as it closed at 941.263 points, equivalent to a 0.5% decline. A total of 33 issues were active, as three registered gains, while another 25 closed in the red. The 3.95% MGS 2028 was the best performer, with a 0.7% change in price, closing at €104.46. On the other hand, the 4% MGS 2043 lost 1.2%, ending the week at €105.50.
The MSE Corporate Bonds Total Return Index declined by 0.2%, as it closed the week at 1,180.563 points. Out of 58 active issues, 13 advanced, while another 28 traded lower. The best performance was recorded by the 3.5% Bank of Valletta plc € Notes 2030 S2 T1, which closed 3.7% higher at €97.90. Conversely, the 3.85% Hili Finance Company plc Unsecured € 2028 declined by 5% to €94.01.
Top Market Movements
Mapfre Middlesea plc shares jumped by 6.5% to end the week at €1.32. During the week the equity traded between a weekly high of €1.34 and a low of €1.24. A total of 15,100 shares spread over five transactions changed ownership.
HSBC Bank Malta plc experienced a 1.4% decline, with its share price at €1.46. The equity traded between a weekly high of €1.48 and a weekly low of €1.35. Total turnover of €72,959 was generated across 22 trades involving 50,183 shares.
Bank of Valletta plc (BOV) was the most liquid equity during the week, totaling €550,689 as a result of 327,970 shares spread across 78 deals. The share price of BOV advanced by 0.6% to close at a weekly high of €1.69. From a year-to-date perspective, the equity is up by19%.
APS Bank plc closed the week with a gain of 0.9%, finishing the week at €0.57. The equity’s weekly high and low were €0.58 and €0.55 respectively. A total of 17,838 shares were traded across seven transactions, generating €10,070 in turnover.
Malta International Airport plc (MIA) saw a slight uptick in its share price, rising by 0.8% to close at €6. A total of 51,438 shares were traded across 16 transactions, generating a total of €306,398 in turnover.
Malita Investments plc posted a 6% increase in its share price. The equity closed at €0.53 after fluctuating between a high of €0.545 and a low of €0.52. A total of 68,400 shares exchanged hands across 10 deals worth €36,176.
AX Real Estate plc endured a challenging week, with its share price dropping by 8.6%, to finish the week at €0.402. A total of 18,592 shares exchanged hands across seven deals.
BMIT Technologies plc experienced a sharp decline, dropping by 7.3%, to close at €0.33. Four transactions worth €6,655 were executed.
PG plc achieved a marginal increase of 1.1%, closing the week at €1.92. A total of 12,045 shares were exchanged across nine trades, resulting in a total turnover of €22,749.
The share price of MaltaPost plc retracted, falling by 6.3% to close at a weekly low of €0.45. This was the outcome of three deals of 3,100 shares worth €1,402.
Company Announcements
BOV announced that the board is scheduled to meet on October 16, 2024 to consider, and if thought fit, declare an interim cash dividend.
Yesterday, the board of BOV also announced the approval of the base prospectus relating to the Unsecured Euro Medium Term Bond Programme of up to €250m and issued information relating to the first tranche of the Bond Programme. An amount of €60m in Bonds will be reserved for subscription by bondholders and shareholders of the Bank appearing on the respective registers as at October 11, 2024 and employees of the Bank or any of its subsidiaries.
An amount of €25m in Bonds will be reserved for subscription by professional clients and eligible counterparties each as defined in the conduct of business rulebook issued by the MFSA. The remaining €15m in bonds will be reserved for subscription by the general public. Applications will be subject to a minimum subscription amount of €10,000. Applications by professional clients and eligible counterparties will be subject to a minimum subscription amount of €100,000.
Tigne Mall plc announced that during the offer period of the conditional voluntary public takeover bid for the acquisition of the entire share capital of Tigne Mall plc, launched by Marsamxett Properties Ltd, a total of 25.5m valid acceptances or 45.18% of the Company's total issued share capital, were received.
The transfer of these shares to Marsamxett Properties Ltd is expected to be completed by October 22, 2024. Once this transfer is complete, Marsamxett Properties Ltd will hold just under 94.87% of the company's shares and intends to exercise its right to acquire the remaining shares. Marsamxett Properties Ltd also plans to apply for the de-listing of the company's ordinary shares following the completion of these transactions.
The board of APS Bank Malta plc announced that the Bank’s and Group’s unaudited financial statements for the 9-months ended September 30, 2024, shall be published on October 31, 2024.
Malta International Airport plc (MIA) has released its flight schedule for the upcoming autumn-winter season, offering 109 direct connections to destinations across Europe and the Middle East. The most notable additions to the schedule include the commencement of thrice-weekly operations to Dublin by Irish flag carrier Aer Lingus, and the extension of Eurowings’ Dusseldorf route into winter. The launch of the schedule came on the back of another strong month for MIA, as passenger traffic continued to exhibit an upward trend in September to total 896,471 arrivals and departures, increasing by 10.4% over 2023.
The board of Grand Harbour Marina plc resolved to pay a gross interim dividend of €1m equivalent to €0.05 per ordinary share.
This article, which was 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 under the Investment Services Act by the MFSA and is a Member of the Malta Stock Exchange. 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, or on Tel: 21224410, or email info@jesmondmizzi.com