The local equities market managed to recoup part of its previous loss, as it closed 0.522 per cent higher at 9,866.644 points.

A total of 21 equities were active, seven of which headed north while another six closed in negative territory. A total weekly turnover of €1.3 million was generated over 156 deals.

Last Tuesday, International Hotel Investments plc (IHI) issued their interim directors’ report, delineating the company’s performance since the beginning of this year. The targets set for the current financial year are expected to be reached and EBITDA is expected to exceed the previous year’s figure.

In the third quarter of 2019, IHI completed a three-year agreement to provide white label management services to the Meydan Group for its two existing hotels in Dubai. In addition in 2021, the luxury beachfront Corinthia hotel is to be completed.

Last Tuesday, a sole deal of 1,000 IHI shares pushed the price 3.66 per cent higher to €0.85.

The equity was also active on Thursday and Friday over two deals involving 13,000 shares, with no impact on its previous closing price.

Last Wednesday, Malta International Airport plc issued the interim directors’ report and confirmed that since its previous announcement, issued on July 25, to date, there were no material events or any transactions which might have impacted its financial position, pursuant to the applicable listing rules.

The company’s financial position for first three quarters of 2019 remained sound and its performance was superior to 2018.

During the period under review, revenue increased by 9.2 per cent to €77.3 million when compared to the same period last year. Similarly, profit before tax has also increased to €41.7 million by 8.1 per cent.

Total expenditure increased by a moderate 3.7 per cent to €27.7 million and capital expenditure amounted to €12.8 million for the first nine months of the year.

The equity was active over 16 transactions involving 22,483 shares. This resulted in a 0.69 per cent gain, and total weekly turnover stood at €164,575, being the second most traded equity for the week.

In the banking sector, all four equities were active.

HSBC Bank Malta plc registered a 2.26 per cent decline last Monday to €1.30 and did not recoup any of the loss during the week. A total of eight deals involving 57,308 shares were executed.

Bank of Valletta plc was active over 17 deals of 69,598 shares. Last Thursday, the equity reached a weekly high of €1.12 but did not manage to maintain the gain as it closed unchanged at €1.10.

FIMBank plc ended the week at $0.64 once again. The bank traded ten times over 72,595 deals. Similarly, Lombard Bank plc closed unchanged at €2.24 despite trading twice on slim volume.

The best performer was Medserv plc, as the share price went up by 8.33 per cent to €1.30.

The equity was active only on Thursday, as 64,000 shares changed hands across 11 deals.

Moving on to the property sector, a total of five equities were active, of which gainers and losers tallied to-two-apiece.

Last Wednesday, Trident Estates plc announced the results following the rights issue of circa €15 million worth of new ordinary shares.

The rights issue period closed on October 29, whereby eligible shareholders could subscribe for the 12,000,003 new shares.

A total weekly turnover of €1.3m generated over 156 deals

Total subscription amounted to 11,152,571 new shares for a value of €13,940,713.75, of which all were accepted and allotted in full.

Applications with a bid price above €1.27 per lapsed right were allotted in full, representing 836,363 new shares, the equivalent of €1,045,453.75.

This resulted in a lapsed rights premium of €128,967.35. Applications received with a bid price of €1.27 per lapsed right totalled to 36,350 new shares. The company has adopted an allocation policy on a pro-rata basis that of 30.45 per cent of the lapsed rights applied for at €1.27.

By rounding up to the nearest lapsed right, new shared allotted stood at 11,069 new shares, the equivalent of €13,836.25 and a lapsed rights premium of €221.38. Applications with a bid price lower than €1.27 per lapsed right were not accepted.

The new shares are expected to be admitted to listing on the Malta Stock Exchange’s official list tomorrow.

The equity traded 0.66 per cent lower last week, as nine deals involving 46,080 shares were executed. The week’s closing price stood at a six-month low of €1.50.

Last Tuesday, Santumas Shareholdings plc announced that the issued and paid up capital of the company has increased to €2,011,384 divided into 7,314,122 ordinary shares with a nominal value of €0.275 each fully paid up.

Santumas Shareholdings plc has an authorised share capital of €2,337,500 divided into 8,500,000 ordinary shares with a nominal value of €0.275 each.

Three deals involving 9,726 shares dragged its price 6.67 per cent lower to €1.40 – the lowest price in four months.

Malita Investments plc headed north, as it closed 1.65 per cent higher at €0.925. This was the result of nine deals involving 48,597 shares.

Similarly, MIDI plc also ended the week in positive territory with a 0.70 per cent increase to €0.715.

In all, 113,153 shares changed hands across four transactions.

Meanwhile, Malta Properties Company plc was active over six deals involving 80,000 shares. Its previous closing price of €0.66 was not altered.

RS2 Software plc extended its positive streak to six weeks, as it ended the week 4 per cent higher at €2.08.

Four deals involving 11,600 Mapfre Middlesea plc shares pushed the price 1.87 per cent higher to €2.18.

Telecommunications company GO plc closed the week on a negative note as it declined to €4.28.

Its subsidiary, BMIT Technologies plc, closed in the red at €0.52 – translating into a 1.89% decline. Nine deals involving 116,460 shares were executed.

PG plc lost 1.60 per cent to €1.84. The equity was active last Friday as 44,200 shares changed hands across four deals.

Grand Harbour Marina traded once last Monday over 2,900 shares but closed unchanged at €0.55. Similarly, five deals involving 7,500 Simonds Farsons Cisk plc shares left no impact on the previous week’s closing price of €11.50.

MaltaPost plc was active over two deals with a spread of 3,337 shares but closed unchanged at €1.25. Similarly, Plaza Centres plc also traded twice over 20,000 shares. Its previous closing price of €1.03 was not altered.

The MSE MGS Total Return Index registered a further 0.891 per cent to 1,122.474 points. All 20 active issues closed lower as yields went up. 

The 3% MGS 2040 (I) registered the largest decline in price of 1.36 per cent as it closed the week at €140.80.

The MSE Corporate Bonds Total Return Index advanced by a further 0.188 per cent to 1,083.424 points.

A total of 43 issues were active, of which 13 advanced.

The best performer was the 6% AX Investments plc € 2024 as it closed 1.76 per cent higher at €114. This gain came following a company announcement stating that the company has submitted an application to the listing authority requesting the listing of €25 million in new unsecured bonds.

In the Prospects MTF market, seven issues were active. The most liquid bond was once again the 5.35% D Shopping Mall Unsecured Bonds 2028 as a total turnover of €22,988.50 was generated over three deals.

It ended the week slightly higher at €0.995.

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 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.