Movements in equity and bond indices
The MSE Equity Total Return Index fell a further 0.2%, as it closed at 7,676.023 points. The total weekly turnover declined by €1m to €0.3m, when compared to the previous week, generated across 115 transactions. Out of 15 active equities, six closed higher while another seven ended the week in the red.
The MSE MGS Total Return Index did not manage to maintain the previous week’s gain, as it lost 0.1%, to close at 857.820 points. Out of 22 active issues, five headed north while another 13 closed in the opposite direction. The 3.4% MGS 2027 (VI) was the best performer, as it closed 2.2% higher at €100.80. On the other hand, the 0.4% MGS 2027 (IV) ended the week 15.9% lower at €86.45.
The MSE Corporate Bonds Total Return Index headed north, gaining 0.5% as it closed at 1,156.018 points. A total of 56 issues were active, 20 of which advanced while another 23 traded lower. The top performer was the 3.5% Simonds Farsons Cisk plc Unsecured € 2027, as it registered a 4.2% increase, ending the week at €100. Conversely, the 3.65% Mizzi Organisation Finance plc Unsecured € 2028-2031 lost 9.8%, as it finished the week at the €85 price level.
Top 10 market movements
Bank of Valletta plc (BOV) shares gained 2.5% and closed the trading week at €1.25. A total of 37 transactions worth €120,811 were recorded.
Meanwhile, HSBC Bank Malta plc shares shed 1.7% to close at €1.15. The equity witnessed 10 transactions of 43,268 shares worth €49,738.
The share price of APS Bank plc (APS) ended the week at €0.575. This resulted in a week-on-week decline of 2.5%, as 37,920 shares spread across 14 transactions were executed.
Malta International Airport plc recorded a 1.8% decline, as the equity closed at €5.40. Seventeen transactions worth €61,750 were recorded.
International Hotel Investments plc shares experienced a weekly decline of 2.2%, retracting to €0.45. A total of 49,547 shares exchanged hands across nine transactions worth €22,340.
Mapfre Middlesea plc experienced a negative 5.4% price movement to close at €1.23. Three transactions worth €6,939 were recorded.
From the real estate sector, Malita Investments plc was active throughout the week at the €0.515 price level, representing a gain of 3%. A single transaction of 4,625 shares was recorded.
Simonds Farsons Cisk plc shares posted a 0.8% positive movement to close at €6.60.
Plaza Centres plc witnessed remarkable growth during the week, recording a double-digit increase of 27.5%. The equity ended the week at €0.65, as 12,200 shares changed ownership across three deals.
PG plc gained 1% to close the week at a price of €2.02 after trading at a weekly low of €1.91.
Company announcements
The board of BOV declared the payment of an interim gross cash dividend of €0.0462 per share (€0.03 net of tax), subject to regulatory approval.
APS has announced that it has received regulatory approval in relation to the €150m unsecured subordinated bond issuance programme. As part of the programme, the bank is issuing the first tranche, consisting of up to €50m. The bond will have a coupon of 5.8% and will mature between 2028 and 2033. The bond offer will be available as from October 30, 2023, and will close on November 17, 2023, or earlier.
APS also announced the bank’s financial performance for the nine-month period ending September 30, 2023. APS registered pre-tax profits of €23.3m, up from €8.4m during the same period last year. Net interest income increased to €55.5m. During the period, the group continued to recover from the unrealised negative investment market trends of 2022.
MedservRegis plc will be convening an extraordinary general meeting on November 16, 2023. During the meeting the company will seek the approval from shareholders to reduce the share premium account for the purpose of offsetting losses of the company.
PG plc announced that the AGM was held last Monday where all resolutions were approved.
The board of Loqus Holdings plc has approved the financial statements for the financial year ended June 30, 2023, and resolved that it be submitted for the approval of the shareholders at the forthcoming AGM. The company concluded the year on an excellent note, marking an all-time high revenue at €10.7m, an uplift of €676,000 from the preceding year. This remarkable growth in revenue is predominantly attributed to a 34% or €1.6m surge in the earnings of openFleet. Profit after tax was positive at €885,000 but lower than 2022 levels of €1.7m.
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.