The MSE Equity Total Return Index closed the first week of February 2.5 per cent lower at 8,045.256 points.

A total of 20 equities were active, four of which headed north while another 14 closed in the opposite direction.

A total weekly turnover of €1.7 million was generated across 153 transactions.

In the banking sector, HSBC Bank Malta plc gained 6 per cent to close the week as the top performing equity.

A total of 187,077 shares were executed across 19 transactions, pushing the price €0.05 higher to €0.88 after trading at a weekly low of €0.82.

Bank of Valletta plc (BOV) shares started off the week on a positive note, as the equity traded at a high of €0.95 but did not manage to sustain the gain, as it closed at €0.93.

On the week, a 1.1 per cent loss was recorded, as 225,129 shares were spread across 28 transactions.

Last Tuesday, the bank referred to a previous announcement published in April 2019, where it had filed proceedings against Italy before the European Court of Human Rights (ECHR).

The bank complained that Italian law does not provide a remedy for its fair hearing concerns in respect of the claim made against the bank by the curators in the bankruptcy of the Deiulemar Group before the courts of Torre Annunziata, in Italy.

The ECHR has decided that the bank’s application is, at this stage of the proceedings, inadmissible. The basis of the ECHR’s decision is that the bank still has remedies to exhaust in Italy regarding its fair hearing concerns, and not because it considered the bank’s complaint unmeritorious.

BOV confirmed that it will continue to pursue its defence vigorously, including its fair hearing concerns before the Italian courts and, if those prove unsuccessful, it will petition the ECHR again once the Italian remedies will have been fully exhausted.

Retail conglomerate, PG plc recorded the highest liquidity, as it generated a total turnover of €301,416. Six deals involving 149,660 shares dragged the price €0.06 lower to €2.00.

This decline is equivalent to a 2.9 per cent movement in price.

BMIT Technologies plc was the second most liquid equity for the week, as it recorded a total turnover of €283,007.

A total of 589,550 shares changed hands over 13 deals, pushing the price 2.1 per cent higher to €0.49.

Its parent company, GO plc, touched a low of €3.26 yesterday, but managed to end the week higher at €3.44. Despite this intra-day price recovery, the equity closed the week lower by 0.6 per cent.

Seven deals involving 3,863 shares were executed.

Meanwhile, RS2 Software plc was active but remained flat at €2.04. Eight deals involving 5,569 shares were executed.

FIMBank plc headed the list of fallers with a 28 per cent change in price.

Four deals involving 72,800 shares, during the week’s opening trading session, dragged the price to $0.36 – equivalent to a $0.14 fall in price.

Malta International Airport plc reached €6.15 during the week but did not manage to sustain the gain, as it closed flat at €6.10.

A total of 14,123 shares were spread over 19 deals.

In the property sector, five equities were active. MIDI plc was the only positive performer, as it closed 0.5 per cent higher at €0.39.

This was the outcome of five deals involving 13,000 shares.

A total weekly turnover of €1.7 million was generated across 153 transactions

The board of Malta Properties Company plc (MPC) is scheduled to meet on February 25 to consider and approve the company’s audited financial statements for the financial year ended December 31, 2020.

The declaration of a final dividend to be recommended to the Annual General Meeting shall also be considered.

This week, Malta Properties Company pls shares fell by 5.5 per cent, as 82,030 shares change hands across 10 transactions. The equity ended the week at €0.52. From a year-to-date perspective, the equity is up by 4 per cent.

Three deals involving 500 Tigne’ Mall plc shares dragged the price by 6.1 per cent into negative territory, to close at €0.77.

Malita Investments plc closed 2.2% lower at €0.88, as five deals involving 21,995 shares were executed.

Trident Estates plc also declined by 0.7 per cent to €1.47, as three deals involving 3,350 shares were executed.

In the food and beverage sector, Simonds Farsons Cisk plc enjoyed a positive week with a 2.6 per cent change in price.

Four deals involving 1,965 shares pushed the price to €8.00.

International Hotel Investments plc declined by 9.4 per cent, as 41,000 shares changed ownership across five deals.

The equity ended the week at €0.63 – the lowest price in over two months.

Five deals involving 61,000 Main Street Complex plc shares translated into a 1.6% fall in price. The equity ended the week at the €0.49 price level.

On a similar note, Harvest Technology plc lost 0.7 per cent, as it closed at €1.48. Five deals involving 172,308 shares were executed.

Loqus Holdings plc traded for the first time this year over a sole deal of 5,625 shares. 

The equity dropped by 19.2 per cent to €0.08.

One deal of 900 Mapfre Middlesea plc shares resulted into a negative 3.4 per cent movement in price. The equity ended the week at €2.28. Similarly, Plaza Centres plc traded twice over 283,007 shares, dragging the price by 2.1% into the red.

The equity closed at €0.92 and generated a total weekly turnover of €260,366.

Last Thursday, MaltaPost plc announced that regulatory approval has been granted for the registration of IVALIFE Limited to carry out the business of life insurance. IVALIFE Ltd, is equally owned by MaltaPost plc, APS Bank plc, Atlas Insurance PCC Ltd and Gasan Mamo Insurance Limited.

The company considers its involvement in this venture as a significant development which stands to benefit its stakeholders and the community at large. No trading activity was recorded during the week.

The MSE MGS Total Return Index managed to recover its previous loss, as it closed 0.7% higher at 1,152.45 points. 

A total of 18 issues were active, three of which advanced while another 11 lost ground.

The 2.3% MGS 2029 (II) headed the list of gainers, as it closed 6.2% higher at €128.50.

The 4.1% MGS 2034 (I) traded 2% lower at €146.00.

The MSE Corporate Bonds Total Return Index declined by 0.3 per cent, as it reached 1,098.07 points. 

Out of 51 active issues, 19 traded higher while another 20 closed in the red.

The best performer was the 5% Tumas Investments plc Unsecured € 2024, as it closed 2.5% higher at €103.50.

The 6% International Hotel Investments plc € 2024 lost 4.7%, to close at €100.11.

In the Prospects MTF market, seven issues were active. The 4.75% Orion Finance plc € Unsecured 2027 was the most liquid as it generated a total weekly turnover of €172,000.

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.