The MSE Equity Total Return Index declined marginally, as it ended the week at 7,126.746 points. A total of 15 equities were active, where gainers and losers tallied to five-a-piece. Total weekly turnover more than doubled to €1.2 million – generated across 194 transactions.
Malta International Airport plc was the most liquid, as it generated a total turnover of €292,000 – more than triple the amount recorded during the previous week.
The equity reached a six-month low price on Monday but managed to recoup the lost ground, as it closed 1.8% higher at €4.60. This was the result of 64,135 shares spread over 36 deals.
The banking sector followed suit since it also registered an increase in turnover.
Bank of Valletta plc registered a total turnover of €245,865 as 288,927 shares changed hands across 46 transactions. The bank ended the week at €0.86 – translating into a positive 0.7% change.
HSBC Bank Malta plc also posted an increase in turnover, as it generated €132,777.
A total of 23 deals involving 181,508 shares were executed, dragging the price by 5.4% to €0.705, after trading at a weekly high of €0.76.
Similarly, Lombard Bank plc’s turnover doubled to €120,269 as 68,262 shares were spread across six transactions. The bank’s shares closed the week in the red at €1.76 – equivalent to a 2.2% movement in price.
On Wednesday, FIMBank plc announced that in light of the current circumstances arising from the Covid-19 pandemic, it will be availing itself of the extension period.
The annual general meeting is now scheduled to be held on November 30, 2020. The equity traded twice over 18,000 shares but closed unchanged at $0.30.
Telecommunications company, GO plc, ended the week flat at €3.00 despite reaching €2.90 on Wednesday. A total of 13 deals involving 35,045 shares were executed.
Its subsidiary, BMIT Technologies plc registered a 3.9% increase in price, as 219,095 shares changed ownership over 18 deals. The equity ended the week at €0.478.
RS2 Software plc’s activity remained high, as it generated a total turnover of €150,011 – slightly lower than last week. A negative 0.9% change in price was recorded, as 70,980 shares were spread across 13 transactions. The equity reached a 19-week low price of €2.10 on Thursday, but ended the week at €2.18. On a year-to-date basis, the equity is generating a positive 1.9%.
Retail conglomerate, PG plc, held its fourth Annual General Meeting on Thursday. The audited financial statements for the financial year ended April 30, 2020 and the auditors’ report thereon were approved.
Three deals involving 2,400 shares did not impact the equity’s previous week’s closing price of €1.88.
On a similar note, Simonds Farsons Cisk plc was active but traded flat at €7.20. A total of 1,412 shares changed hands across eight transactions.
Plaza Centres plc held its annual general meeting on Monday. The annual report for the financial year ended December 31, 2019, including the financial statements for the same financial year and the directors’ and auditors’ reports thereon were approved.
Total weekly turnover more than doubled to €1.2 million – generated across 194 transactions
A final net dividend of €0.0113 per share, representing a net amount of €320,000 was approved, which was paid as an interim dividend on August 4, 2020. The board have also resolved the recommend to shareholders the payment of a gross interim dividend of €1 million, to be paid to shareholders on the register on October 28, 2020, and to be paid out on November 11, 2020.
Meanwhile, a sole deal of 10,000 shares did not alter the equity’s price of €1.00.
MaltaPost plc traded seven times yesterday, resulting into a 7.7% drop in price. A total of 17,084 shares were executed, dragging the price to a six-month-low of €0.96.
In the property sector, only two equities were active, as they closed in opposite direction.
Malta Properties Company plc was up by 3.2% to close at €0.51, as 23,031 shares changed ownership over 10 transactions. Conversely, six deals involving 18,059 Malita Investments plc shares resulted into a 1.1% decline in price.
The equity ended the week at the €0.89 price level.
The board of Trident Estates plc recently held its 20th annual general meeting.
The income statement and statement of financial position for the year ended January 31, 2020, and the reports of the directors and the auditors were approved.
The equity did not record any trading activity during the week.
On Wednesday, Medserv plc announced that its subsidiary Middle East Tubular Services Ltd (METS) has been awarded a long-term contract note by Tenaris Global Services S.A. – Abu Dhabi.
The contract is awarded for an initial period of three years commencing on October 1, 2020, with opportunity to extend the term by two additional periods of one year each.
The directors consider this award to be a significant achievement for the group, both in terms of market penetration as well as for the constant earnings the contract is expected to bring to the group.
Medserv headed the list of gainers with a 4.2% movement in price. The equity traded twice over 2,450 shares, reaching the €0.50 price level.
On Monday, GlobalCapital plc announced that the annual general meeting was held remotely on October 9, 2020.
All resolutions which were presented for the consideration of the shareholders at the AGM have been duly approved.
The directors expressed satisfaction that the shareholders have approved the resolution proposing the Class 2 transaction.
This relates to the company’s consideration for disposal of at least 25% and up to 45% of the Company’s shares in GlobalCapital Life Insurance Limited (“GCLI”) through the listing of the shares of GCLI (“IPO”) and an offer to the Company’s shareholders to exchange all of their shares in the Company for shares in GCLI.
The company intends to use the net proceeds from the new bond to redeem the €10,000,000 5% GlobalCapital plc unsecured bonds 2021.
No trading activity was recorded during the week.
The MSE MGS Total Return Index gained a further 0.31% as it closed at 1,143.63 points. Out of 19 active issues, 12 headed north while another five closed in the opposite direction.
The best performance was recorded by the 2.5% MGS 2036 (I) as it closed 1.9% higher at €138.00. On the other hand, the 2.2% MGS 2035 (I) lost 6.3%, ending the week at €120.00.
The MSE Corporate Bonds Total Return Index advanced by another 0.71% as it reached 1,080.75 points. A total of 46 issues were active, 20 of which registered gains while another eight lost ground.
The 4.35% Hudson Malta Plc Unsecured € Bonds 2026 was the top performer with a 3% movement in price, to close at €102.50. Conversely, the 4.15% Phoenicia Finance plc 2028 Unsecured closed 4% lower at €94.05.
In the Prospects MTF market, the 5% Smartcare Finance plc Secured € 2029 was active but closed unchanged 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 a member of 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 phone 2122 4410. E-mail – email@example.com.
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