The MSE Equity Total Return Index did not manage to maintain last week’s positive performance, as it lost 0.605 per cent to 9,915.85 points.

A total of 20 equities were active, of which eight headed north while another six closed in the opposite direction. A total weekly turnover of €1.6m was generated over 276 deals involving 1.2m shares.

International Hotel Investments plc (IHI) was one of the equities which pushed the index into the red, as it closed 10.34 per cent lower to reach a five-week low of €0.78. During the week the equity traded at a lower price of €0.775 and a weekly high of €0.860. A total of 99,007 shares changed hands over 13 deals. Despite this drop, on a year-to-date basis, IHI shares are still up nearly 26 per cent.

In the banking sector, Bank of Valletta plc was also on the losing side of last week’s negative performers as it closed 0.85 per cent lower at €1.16. The banking equity was the most traded, as 224,078 shares changed ownership over 61 deals.

Total turnover stood at €261,373.

Its peer, HSBC Bank Malta plc did not manage to recover any of its previous losses, as it closed unchanged at €1.40, despite closing the week’s opening session at €1.43.

A total turnover of €42,348 was recorded, as 25 deals involving 29,851 shares were executed.

Similarly, eight deals involving 39,813 Lombard Bank plc shares did not impact its previous week’s closing price, as all trades were executed at the price of €2.26.

In the property sector, four equities were active, of which three advanced while one declined.

On Wednesday, MIDI plc reached a six-week high of €0.68 but did not manage to maintain the price, as it ended the week at €0.665, hence up by 7.26 per cent.

This came on the back of 18 transactions of 110,000 shares were executed.

Trident Estates plc gained further ground, having closed 3.78 per cent higher at €1.92, having traded at a week high of €2.00 – a 19 month high.

A total of 15 deals involving 69,263 shares were executed.  Similarly, one deal of 5,000 Malita Investments plc shares pushed its price 1.70 per cent higher to €0.895.

Best performance recorded by GlobalCapital plc, as it registered an 8 per cent gain

On the other hand, Malta Properties Company plc drifted lower, as it reached €0.685, translating into a 3.52 per cent decline. Last Monday, one deal pushed its price higher to €0.715 but declined during the week as another three deals were executed. A total of 18,703 shares changed ownership over four deals.

Malta International Airport plc ended the week on a positive note, as 21 trades involving 24,213 shares were posted.

The equity gained 1.35 per cent and closed at €7.50.

Telecommunications company GO plc closed off the week with a positive 0.92 per cent to kick start October at €4.40.

A total of 22,820 shares changed hands over 12 deals. Its subsidiary, BMIT Technologies plc, opened in positive territory but closed the week unchanged at €0.53. A total of 219,270 shares were exchanged over 25 deals.

The best performance was recorded by GlobalCapital plc, as it registered an 8 per cent gain, to close the week at €0.27.

The price was pushed upwards by a sole deal of 9,721 shares.

Following suit, Loqus Holdings plc closed 6.25 per cent higher at €0.085, as two deals involving 25,000 shares were executed.

Last Wednesday, PG plc announced that the third Annual General Meeting shall be held on October 24, 2019.

The board will consider, and if deemed fit, approve the audited financial statements for the year ended April 30, 2019, the auditors’ report, the director’s report, as well as the corporate governance statement, including the directors’ remuneration policy set out therein. Moreover, there shall be the approval for the re-appointment of auditors of the company, and the authorisation to fix their remuneration.

A total of 18 deals involving 132,650 PG shares were executed, lowering its price downwards by 0.53 per cent to €1.87.

Similarly, Mapfre Middlesea did not manage to sustain the previous week’s positive performance, as it declined to €2.16.

A total of 11,716 shares were spread across six deals. The equity declined by 1.82 per cent last Wednesday and no further trades occurred during the last two trading sessions.

RS2 Software plc closed flat during the first four trading days while it posted a 0.52 per cent gain on Friday to end the week at €1.92.

A total of 51,361 shares changed hands over 24 transactions, as the equity’s price fluctuated between a weekly low of €1.85 and a high of €1.92.

Grand Harbour Marina plc reached a 35-week low of €0.61 but closed at €0.66, as two deals involving 4,433 shares were executed. This translated into a weekly decline of 1.49 per cent.

Elsewhere, MaltaPost plc, Plaza Centres plc and Simonds Farsons Cisk plc were all active but closed unchanged at €1.35, €1.02 and €11.10 respectively.

In the local corporate debt market, out of 50 active issues, 19 registered gains while another 20 traded lower.

The 3.75% Bank of Valletta plc Unsecured Subordinated € 2026-2031 headed the list of gainers with a 2.79 per cent rise to close at €103. The MSE Corporate Bonds Total Return Index lost 0.196 per cent to close at 1,080.04.

In the sovereign debt market, the MSE MGS Total Return Index returned to positive territory, as it closed 0.145 per cent higher at 1,144.44 points, as international equity markets fell and uncertainty as to global economic growth resurfaced, pushing yields lower, as investors sought safer investments.

During the week, 21 issues were active, of which 13 advanced while another eight lost ground.

The 3% MGS 2040 (I) registered the largest increase of 0.69 per cent to €145.50.

On the other hand, the 2.3% MGS 2029 (II) headed the list of fallers, as it closed 0.58 per cent lower at €120.65.

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, or on Tel: 21224410, or email info@jesmondmizzi.com.

Sign up to our free newsletters

Get the best updates straight to your inbox:
Please select at least one mailing list.

You can unsubscribe at any time by clicking the link in the footer of our emails. We use Mailchimp as our marketing platform. By subscribing, you acknowledge that your information will be transferred to Mailchimp for processing.