The MSE Equity Total Return Index (MSE) added another 0.5%, to end the final full week of August at 8,056.163 points. Sentiment was generally positive, as 12 equities moved higher while the MSE turned negative yesterday following three days of gains.
Among the large caps, Malta International Airport plc (MIA) was the best performer while several property companies posted noteworthy gains.
Likewise, equities in the IT sector headed higher. Following this week’s gain, the year-to-date loss on the MSE is just shy of 5%.
In the banking sector, HSBC Bank Malta plc (HSBC) shares gained 1.3%, as the banking equity closed at €0.80. During the week 11 trades worth nearly €25,000 were executed. The share price of HSBC is still down by 11% since the beginning of the year.
Bank of Valletta plc gained another 0.6%, to end the week at €0.90 on improved demand, as trading volume increased to just over 145,000 shares up from 83,000 shares last week.
The equity’s price traded between a weekly low of €0.895 and a high of €0.915.
Lombard Bank Malta plc shares closed the week 1% lower at €1.85, as two thin trades were executed.
Last Thursday, the bank announced the half-yearly results for 2021, during which the banking group recorded a profit before tax of €5.4m, compared to €5m during the same period last year.
In the financial sector, the board of LifeStar Insurance plc announced that it is scheduled to meet on August 30 to consider and approve the unaudited half-yearly financial report for the period ended June 30.
In the IT sector, BMIT Technologies plc shares closed the week 4.2% higher at €0.50, as the equity finished three trading sessions higher while it shed 0.8% mid-week. Trading volume declined to 137,000 shares from 235,200 shares last week.
In the same sector, Harvest Technology plc gained 1.4% to return to the €1.50 level.
One transaction worth €5,000 was recorded.
RS2 Software plc (RS2) shares closed higher by 1% at €1.78 while the week’s first trade was executed at last week’s close of €1.76. During the week 6,000 RS2 shares were traded over two deals.
GO plc shares turned negative, as the telecoms company ended the week 3% lower at €3.30, as it failed to hold on to the weekly high of €3.40. Twelve deals worth €95,000 were executed.
MIA shares gained 2.5% following a 4% decline last week.
The equity’s price traded between a weekly high of €6.30 and a low of €6.15, this week’s closing price. A total of 8,400 shares changed hands over six transactions.
Simonds Farsons Cisk plc shed nearly 3% or €0.25, as the share price of the equity settled at €8.25, after trading at a weekly high of €8.40 on Thursday. Since the beginning of the year, the share price of the equity is up by nearly 6%.
The board of Simonds Farsons Cisk plc announced that they will be meeting on September 29 to consider and approve the group’s and company’s interim accounts for the half-year ended July 31, 2021.
PG plc shares jumped by 2.6%, after positive half-yearly results were announced during Wednesday’s trading session.
The news sent the equity nearly 2% higher while an additional 1% gain was added on Thursday, to end the week at €2.34. A total of 14,500 shares changed ownership over seven deals.
The board of PG plc approved for publication its annual report and the audited consolidated financial statements for the year ended April 30, 2021 and resolved to propose the same for the approval of the shareholders at the upcoming AGM to be held on October 21.
Malta International Airport plc the best performer
PG plc shares are up by 17% since the beginning of the year.
MaltaPost plc shares gained 3.2%, as one trade worth €3,600 sent the equity’s price higher to €1.28.
Plaza Centres plc shares gained 4.7% to close at €0.90, after trading at a weekly low of €0.86. Five deals worth €22,000 were executed.
In the same sector, MIDI plc shares gained 2%, as the equity’s price oscillated between a weekly low of €0.35 and a high of €0.422, this week’s closing price.
Nearly 50,000 shares changed ownership across eight transactions. MIDI plc announced that the board is scheduled to meet on August 30, 2021 to consider and approve the interim financial statements of the company for the six-month period ended June 30, 2021.
Malta Properties Company plc gained 3.8% to end the week at €0.55, while Tigne Mall plc shares posted a 5.3% gain to finish at the €0.79 level, as five transactions of 35,000 shares were recorded.
On the opposite side, Trident Estates plc lost 2.7% to close at €1.44, after trading at a weekly high of €1.48 earlier in the week. Similarly, Main Street Complex plc declined by 2.5% and closed at €0.476. One deal worth €18,000 was executed.
The board of Malita Investments plc met on August 23, 2021 and approved the company’s condensed interim financial statements for the six months ended June 30, 2021.
The company registered a loss of €15m during the first half of the year. Revenues rose marginally to €4.11m when compared to the €4.10 million in 2020. Operating profit was also on the rise, as it increased from €3.8m in 2020 to €4.1 million in 2021.
The company’s bottom line was impacted by downward revaluations to the company’s property portfolio. The board proposed a net dividend payment of €0.0112 per share payable on September 24, 2021.
Meanwhile, the board of Grand Harbour Marina plc (GHM) approved the half-yearly report of the Company for the financial period January 1, 2021 to June 30, 2021.
Total revenue at GHM decreased by 8%, from €2.1m to €1.9m, while the Group’s share of revenues at IC Cesme increased by 8% to €0.72m as at June 30, 2021 compared to €0.67m in the corresponding period of 2020.
EBITDA, profit before tax and profit after tax fell by €0.1m, €0.05m and €0.10m respectively compared to the first six months of 2020.
These results have been impacted by the uncertain economic situation caused by the prolonged pandemic. This has led to a lower demand in some areas of the business and a weakening of the Turkish lira.
Due to the latter, a loss on the operation of the Cesme Marina is being reported, which in turn led to a group loss before tax. Like last year, the board did not declare an interim dividend.
In the Corporate Bond Market, 43 bond issues were active as 168 trades worth nearly €2m were executed.
The short-dated 6% Pendergardens Developments plc Secured € 2022 Series II was the most active issue, as five deals worth €335,000 were executed, to close at €101.51.
The 5% Mediterranean Investments Holding plc Unsecured € 2022 followed, as 12 transactions worth €215,000 were recorded.
The recently issued 3.5% GO plc Unsecured € Bonds 2031 closed the week at €104.50, as 170,000 nominal changed hands.
On the week the MSE Corporate Bonds Total Return Index gained 0.6%.
In the Sovereign Debt Market turnover reached €1.1m over 47 deals. The 4.5% MGS 2028 was the most liquid issue, as six deals worth €0.3m were traded. The MSE MGS Total Return Index shed 1% on the week.
In the Prospects MTF market activity was spread across seven issues, as turnover reached €60,000.
The 4.875% AgriHoldings Plc Senior Secured € 2024 was the most traded, as the issue closed at €100.50.
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.