The MSE Equity Total Return Index lost further ground as it closed 1.6% lower at 8,036.058 points. Out of 18 active equities, two headed north, while another 14 closed in the opposite direction. A total weekly turnover of €0.34m was generated across 102 transactions.
This week’s most liquid equity was BMIT Technologies plc, as it recorded a total turnover of €59,739. A total of 122,774 shares changed hands across 11 transactions, dragging the price by 2% into the red. The equity ended the week at €0.49, having recovered from an intra-week low of €0.48.
Meanwhile, its parent company, GO plc, declined by 0.6% to €3.36, as 16,053 shares were exchanged over 12 deals. On Friday afternoon, the company has also announced the Allocation policy in respect of the 3.5% unsecured bonds with an aggregate principal amount of €60M.
Last Thursday, RS2 Software plc held its Annual General Meeting. The financial statements for the year ended December 31, 2020 and the directors’ and auditors’ report thereon were received and approved. The equity traded three times over 8,500 shares. As a result, the equity lost 1%, ending the week at €1.92.
Malta International Airport plc traded at €6.35 all week – translating into a 0.8% fall in price. A total of 13 deals involving 8,722 shares were executed.
In the banking industry, FIMBank plc announced that the Annual General Meeting is being held on July 15, 2021. The audited accounts for the financial year ended December 31, 2020 together with the report of the directors, the corporate government statement, and the report of the auditors thereon, shall be received and approved.
The equity was the only positive performer in the sector, as it registered a 6.7% movement in price. Two deals involving 4,600 shares pushed the price to $0.32.
Bank of Valletta plc reached a low of €0.88 during the week, but managed to recoup some lost ground, as it closed at €0.895 – equivalent to a 1.7% decline over the week. This was the outcome of 15 deals involving 42,232 shares.
Similarly, its peer, HSBC Bank Malta plc¸ lost 1.9% and closed at €0.79. A total of 22,005 shares changed hands across 12 transactions.
Yesterday, Lombard Bank Malta plc announced that it capitalised €147,261.75 from its Retained Earnings account for the purpose of issuing 589,047 fully paid ordinary shares of a nominal value of €0.25 per share. The share capital has now increased from 44,177,914 shares to 44,766.961 shares of €0.25 each fully paid up, resulting in a paid up capital of €11,191,740.25.
Last Thursday, PG plc announced that a board meeting shall be held on July 6, 2021, to consider, and if deemed fit, approve the distribution of an interim dividend for the financial year ended April 30, 2021. The equity traded twice over 4,000 shares, pushing the price 0.9% higher to €2.26.
FIMBank plc announced that the Annual General Meeting is being held on July 15
Simonds Farsons Cisk plc held its 74th Annual General Meeting on Thursday, whereby the board approved the income statement and statement of financial position for the year ended January 31, 2021 together with the directors’ and auditors’ reports.
The equity fell to €8.25 last Thursday, translating into a 5.2% decline, but managed to recover as it closed the week flat at €8.70. Five deals involving 2,185 shares were executed.
International Hotel Investments plc closed 4.4% lower, as 24,400 shares changed hands across five transactions. The equity ended the week at €0.65.
Moving on to the property sector, last Wednesday, MIDI plc published the Financial Analysis Summary dated June 23, 2021. The purpose of the update is to summarise the key financial data in relation to the €50m bond issued in 2016. MIDI’s revenue forecast is positive, as it is expected to generate revenue of €8.9m, up from €2.8m generated in 2020.
MIDI is projecting a profit before tax of €0.5m, an improvement of over €2m on the loss generated in FY2020. The composition of equity and liabilities is not expected to be materially different than that of FY2020.
Malta Properties Company plc lost 1.8%, as 17,824 shares changed ownership across four transactions. The equity closed at €0.54. On a similar note, a sole deal of 1,500 Trident Estates plc shares translated into a negative 1.3% change. The equity ended the week €0.02 lower at €1.48.
Last Tuesday, Mapfre Middlesea plc announced that the board is scheduled to meet on July 28, 2020 to consider and approve the interim financial statements for the half-year ended June 30, 2021. Three deals involving 1,250 shares resulted into a negative 4.5% change in price. The equity closed €0.10 lower at €2.14.
Last Wednesday, Plaza Centres plc held the Annual General Meeting. The annual report for the financial year ended December 31, 2020 including the financial statements and the directors’ and auditors’ reports thereon were received and approved.
Also, a net dividend of €0.0157 per share, which represents a net amount of €400,000, as recommended by the directors, was approved.
The equity traded three times over a spread of 5,800 shares. As a result, the price declined by 5.6% to €0.85.
One transaction of 3,635 Harvest Technology plc shares did not alter the equity’s previous week’s closing price of €1.53.
Medserv plc recorded a 9.1% drop in price, as it closed at €0.75. The equity traded twice over 4,500 shares. The company announced that the share for share exchange has been completed. The completion of the transaction occurred following the completion of all conditions precedent to closing.
The MSE MGS Total Return Index declined by a further 0.68% to reach 1,108.08 points. Out of 15 active issues, two headed north while another 12 closed in the opposite direction. The 5.1% MGS 2029 (I) headed the list of gainers, as it closed at €143.00 - equivalent to a 0.7% movement. Conversely, the 2.3% MGS 2029 (II) closed 6.5% lower at €115.91.
The MSE Corporate Bonds Total Return Index registered a further decline of 0.28%, reaching 1,118.17 points. A total of 46 issues were active, 15 of which traded higher while another 14 closed in negative territory. The 4.85% Melite Finance plc Secured € 2028 registered the best performance as it closed 6.7% higher at €80.00. On the other hand, the 4% Eden Finance plc Unsecured € 2027 lost 3.8%, ending the week at €100.01.
In the Prospects MTF market, 11 issues were active. The 5% HH Finance Plc Unsecured Euro Bonds 2023-2028 was the most liquid, as it generated a total weekly turnover of €66,890.
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.