Movements in equity and bond indices
The MSE Equity Total Return Index halted a three-week streak of declines, closing 0.24% higher to 7,980.606 points. Out of 17 active equities, four increased, while another six closed in the opposite direction. Total weekly turnover advanced by €83,000 to €537,406, generated across 94 transactions.
The MSE MGS Total Return Index rose slightly by 0.03% to close at 876.913 points. A total of 18 issues were active, as nine headed north while six headed south. The best performer was the 2.5% MGS 2036, advancing by 1.7% to €85.96. On the other hand, the 3.4% MGS 2027 closed lower at €99.68, a decline of 2.2%.
The MSE Corporate Bonds Total Return Index retracted by 0.5%, as it closed the week at 1,147.572 points. A total of 56 issues were active, with 24 posting gains, while 18 lost ground. The 4% SP Finance plc Secured € 2029 registered the best performance, gaining 4.7% to close at €99.50. On the other hand, the worst performing issue was the 4.3% Mercury Project Finance plc Secured € 2032, declining by 4.8%. The bond closed at €95.
Top 10 market movements
Malta International Airport plc saw a 0.9% increase in its share price, closing the week at €5.75. A total of 9,840 shares changed ownership across 13 deals.
The share price of International Hotel Investments plc experienced a notable decline of 4.7% during the week, closing at €0.505. This decline was accompanied by two trades with a total trading volume of just 5,377 shares.
HSBC Bank Malta plc reported a 1.7% increase in its share price, closing at a weekly high of €1.22. Five deals were executed with a total trading volume of 9,850 shares.
Lombard Bank Malta plc reported a 1.2% decline in its share price, closing at €0.84. The equity registered a total turnover of €36,039, witnessed across six trades of 43,292 shares.
FIMBank plc experienced a significant price increase of 22.9% during the week, closing at a nine-month high of $0.22. Eight trades were executed with a total trading volume of 394,192 shares.
The telecommunications operator, GO plc, traded flat throughout the week until a single deal on Friday dragged the equity 0.7% lower to €2.92. A total of three deals involving 8,555 shares were executed.
PG plc reported a slight decline in its share price of 1% during the week, closing at €2.06. Four trades were executed with a total trading volume of 34,700 shares.
Hili Properties plc experienced a 1.7% decrease in its share price, closing the week at €0.232. The equity saw six trades with a total trading volume of 28,000 shares.
A single transaction of 2,800 Malta Properties Company plc shares led to a slight increase of 0.5% in its share price, closing at €0.394.
Loqus Holdings plc witnessed a significant decrease in its share price, plummeting by 53.1% to close at €0.15 for the week. Three trades were recorded, totalling a trading volume of 12,945 shares.
Company announcements
On Wednesday, the board of RS2 Software plc approved the condensed interim consolidated financial statements, for the six-month period ended June 30, 2023. On consolidating its activities, the group generated revenue of €17.6 million (2022: €18.8m) and registered a loss after tax of €2.6m (2022: profit after tax of €1.5m). The board approved paying an interim net dividend of €3 million by way of Scrip with each ordinary and preference shareholder having the option to receive either cash or new ordinary shares or preference shares as applicable, at an attribution price of €1.23 per ordinary share and €1.43 per preference share. The net dividend is equivalent to €0.01c315 per ordinary share and €0.01c446 per preference share.
The board of Lombard Bank Malta plc approved the group and bank interim condensed financial statements for the six-month period ended June 30, 2023. The group delivered a robust financial performance in the first half of 2023 with a profit before tax of €5.4 million (profit after tax of €3.4m). The comparable figure for 2022, €17.2 million, had included a one-off significant recovery on a long outstanding non-performing loan. When adjusted for this special factor the gross profit in 2022 would have been €5 million.
The board of FIMBank plc met on August 30, 2023, and approved the consolidated and the bank’s interim financial statements for the six-month period ended June 30, 2023. The FIMBank group reported an after tax profit of $3.9 million, compared to a $2.9m after-tax loss registered for the six months ended June 30, 2022.
The board of Malta Properties Company plc approved the group interim unaudited financial statements for the six-month period ended June 30, 2023. The group registered a profit after tax of €674,371, lower by €181,102 when compared to the same period last year.
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.