Movements in equity and bond indices
The MSE Equity Total Return Index registered a further 0.5% gain, as it closed at 8,055.788 points. A total of 15 equities were active as five headed north while another four closed in the opposite direction. Weekly turnover stood at €0.7m, generated over 123 deals.
The MSE MGS Total Return Index extended its gains by 0.7%, as it reached 878.671 points. A total of 15 issues were active, six of which registered gains while another five closed in the red. The 3% MGS 2040 (I) was the best performer, having traded close to par at €99. Conversely, the 1.4% MGS 2023 (III) was the worst performing stock, closing at €99.48 as maturity approaches.
The MSE Corporate Bonds Total Return Index declined by 0.2%, as it ended the week at 1,156.373 points. Out of 61 active issues, 24 traded higher while another 19 closed in negative territory. The 4.25% Mercury Projects Finance plc Secured € 2031 headed the list of gainers, as it closed 6.4% higher at €100. On the other hand, the 4.5% Endo Finance plc Unsecured € 2029 closed 4.6% lower at €94.
Top 10 market movements
Bank of Valletta plc advanced further after announcing positive interim results. The banking equity gained 2.4% to the previous closing price, ending the week at €1.27, after having reached a four-year high on Thursday at the €1.28 price mark. BOV was the most liquid equity, recording €436,881 in turnover as a result of 60 deals.
Similarly, APS Bank plc headed north following positive interim results, with a 1.6% advancement in share price. The equity closed at €0.62 as a result of 15 transactions worth €36,216.
HSBC Bank Malta plc started the week on a negative note at €1.20, to then recover back to the €1.25 price level – no change in price over the previous week’s closing price. This was the outcome of four deals involving 22,264 shares.
On the other hand, a sole transaction of 44,708 FIMBank plc shares dragged the share price 3.2% lower at $0.179.
Malta International Airport plc finished the week close to its three-month high of €5.65, translating in an increase of 0.9%. A total of 4,096 shares worth €23,039 across 13 transactions were negotiated.
In the property sector, Trident Estates plc started off with a slight decline before proceeding to close the week at €1.33 – a gain of 2.3%. Three deals of 4,821 shares were executed.
A single transaction of 1,200 Plaza Centres plc shares pushed the share price 6% higher to €0.71.
Tigné Mall plc was active on Monday with a total of 65,000 shares across a single deal. The equity lost 0.6% in value to €0.79.
The telecommunications operator, GO plc, headed south with a 3.3% decline. The equity closed at €2.90, as 2,720 shares changed hands over three deals.
The share price of BMIT Technologies plc retracted by 1.9% to close at €0.41, despite reaching a weekly low of €0.40. A total of 24,000 shares changed ownership across four transactions.
Company Announcements
On Thursday, the board of Bank of Valletta plc (BOV) approved the group and bank condensed half yearly financial statements for the six-month period ended June 30, 2023. The group reported robust financial performance during the first half of 2023 with a profit before tax of €105.1m compared to the €72.1m loss before tax during the first half of 2022. BOV also announced that it has entered into a new correspondent banking relationship with Citi for US Dollar correspondent transactions, to provide direct access to US dollar cash-clearing services.
FIMBank plc announced that the board will be meeting on August 30, 2023, to consider and approve the consolidated financial statements for the half-year ended June 30, 2023.
The board of APS Bank plc met on Thursday and approved the condensed interim financial statements for the period ended June 30, 2023. The bank delivered a pre-tax profit of €16.8m as against €1.9m for the same period last year at group level, and €16.1m versus €13.6m during the first half of 2022 at bank level. The board is declaring the payment of an interim net script dividend of €2,100,000 through the issuance of new ordinary shares at an attribution price of €0.57 per share. The net dividend equates to €0.0056 cents per ordinary share subject to regulatory approval.
Lombard Bank Malta plc board of directors will be meeting on August 29, 2023, to consider and approve the group’s and the bank’s interim financial statements for the half year ended June 30, 2023.
The board of Mapfre Middlesea plc approved the unaudited financial statements for the financial half year ended June 30, 2023. The group registered a profit after taxation for the period of €7.65m, compared with a restated profit after taxation of €2.36m for the same period last year.
The board of Tigné Mall plc is scheduled to meet on August 11, 2023 to consider and approve the company’s interim unaudited financial statements for the six-month period ended June 30, 2023. The board will consider the payment of an interim dividend to the company’s shareholders.
In the fixed-income market, ClearFlowPlus plc is currently offering €25,000,000 4.25% unsecured green bonds maturing in 2033 to be issued at par and redeemable at their nominal value on August 25, 2033. ClearFlowPlus is wholly owned by the Water Services Corporation which will act as a guarantor for this bond. The purpose of this bond is to finance certified green projects for Malta, namely improvements in the water network infrastructure, systems to improve billing efficiencies, new solar farms, improve wastewater treatment infrastructure, and a new reverse osmosis in Ħondoq.
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 email info@jesmondmizzi.com.