The MSE Equity Total Return Index (MSE) closed lower by 0.4% at 7,750.833 points. Out of 26 active equities, 12 headed north, while another 11 closed in the red. During the week, turnover more than doubled to €0.7m, up from €0.3m last week. Since the beginning of the year, the MSE is down by 5.5%.
Last Wednesday, Malta International Airport plc (MIA) approved the group’s interim financial statements for the six months ended June 30, 2022.
MIA’s positive interim financial results were reflected in the equity’s share price, as five transactions pushed the equity 0.8% higher to the €6 price level. A total of 16,140 shares exchanged hands, generating a turnover of €96,190.
Likewise, International Hotel Investments plc enjoyed a positive week, as it recorded a 4.2% rise in price, closing at the €0.75 price level.
This was the result of three deals involving 18,834 shares.
Meanwhile, four deals of 2,786 Simonds Farsons Cisk plc shares resulted into a 2% increase in price, as it closed at €7.60.
In the banking industry, Bank of Valletta plc (BOV) was the only negative mover, having declined by 5.4%, as 33 deals involving 110,365 shares were executed. BOV closed the week at €0.87, after trading at a weekly high of €0.93.
On Thursday, the board of BOV approved the group’s and bank’s condensed half yearly financial statements for the six-month ended June 30, 2022.
BOV registered a loss after-tax for the six months period of €51m. This result includes €102.7m in net settlement of the Deiulemar litigation which took place in May 2022. Excluding the impact of the Deiulemar settlement, the interim results for the first six months resulted in a pre-tax profit of €26.1m.
The board has decided that, notwithstanding the resolution of the Deiulemar litigation and the sustained commercial performance of the bank during the first half of 2022, no interim dividend is being declared.
In the same line of business, APS Bank plc (APS) recorded a positive 0.8% change in price, finishing the week at €0.655.
This was the result of 18 deals involving 81,798 shares.
The board of APS met on July 28 and approved the condensed interim financial statements for the six months ended June 30.
APS registered €1.9m profit before tax at the group level when compared to €12.2m in 2021 and €13.6m profit before tax at the Bank level when compared to €11.5m in 2021.
The board is recommending an interim net dividend of €1.8m, payable through the issuance of new ordinary shares at the nominal value of €0.25 per ordinary share. The net dividend equates to €0.005 per ordinary share.
Lombard Bank Malta plc (Lombard) and FIMBank plc (Fimbank) were both active on a sole deal each of 6,833 shares and 2,878 shares respectively.
Lombard gained 2.7% to its share price, closing the week at €1.90, while Fimbank ended the week at $0.185, up by 1.7%.
In the IT Services sector, three out of four active equities registered a decline in their share price. The only exception was Harvest Technology plc, after a sole trade of 125 shares pushed the share price 3.3% higher to €1.26.
Similarly, BMIT Technologies plc was active on trivial volume which eased the share price by 1.3% to €0.474.
Both RS2 Software plc Ordinary shares (RS2) and RS2 Software plc Preference shares (RS2P) registered a negative movement in their share prices.
RS2 declined by 2.6% to €1.50, as a result of three deals of 3,701 shares. RS2P declined to €1.48, translating into a 1.3% change in share price.
A total of 10,000 shares were traded over a single trade.
In the property sector, MIDI plc headed the list of fallers as a result of two transactions worth €10,106. The equity closed the week at €0.30, down by 11.8%.
Similarly, AX Real Estate plc registered a 1.8% decline, ending the week at €0.54. A total of 45,000 shares exchanged ownership across three transactions.
Meanwhile, Malta Properties Company plc (MPC) closed lower by 0.4% to end the week at €0.496. Four trades of 22,600 shares were executed.
Plaza Centres plc (PZC) ends the week in positive territory
No movement was noted in the share price of Trident Estates plc and Malita Investments plc. Both equities were active on a single deal, as they traded at €1.35 and €0.70, respectively.
A sole transaction involving 1,500 Main Street Complex plc shares did not impact the equity’s previous week’s closing price of €0.40.
Mapfre Middlesea plc was also active on a single deal, which eased the share price 0.6% lower to €1.78.
PG plc was the most active, as total weekly turnover stood at €195,715. The share price of the retail conglomerate closed 1.9% lower at €2.10, as 92,875 shares changed hands across seven transactions.
Oil and gas logistics specialists, MedservRegis plc, joined the list of fallers with a double-digit decline of 10%. Two deals involving 15,000 shares were executed.
Medserv Regis plc submitted an application for admissibility to listing with the MFSA, for a new secured bond issue of €13m.
MaltaPost plc also closed in the red at €1.06, translating into a 2.8% fall in price. A total of 3,000 shares were traded across two transactions.
Loqus Holdings plc registered the best performance, as five deals pushed the price 181% higher to €0.45.
Two deals of 4,300 Tigne Mall plc shares lifted the share price 6.2% higher, as it closed the week at the €0.69 level.
M&Z plc added €0.005 or 0.7% to its share price, ending the week at €0.755. This was the outcome of a single transactions of 4,000 shares.
GO plc, traded at a weekly low of €3, but managed to recoup the loss yesterday, to close 0.7% higher on the week at €3.04.
Plaza Centres plc (PZC) ended the week in positive territory, as it registered a 49% change in price.
The equity closed at €0.82, as 16,250 shares were spread over four deals, worth €13,075.
In terms of IPO activity, Merkanti Holding plc announced that it has been granted approval by the MFSA for the admissibility to listing on the Official List of the MSE of 16,673,333 Ordinary A shares of a nominal value of €3per share by not later than September 30.
The MSE MGS Total Return Index increased by 1.5% as it reached 953.589 points.
Out of 14 active issues, 12 advanced while just one closed in the red. The 2.1% MGS 2039 (I) headed the list of gainers, as it closed 11% higher at €100. On the other hand, the 2.2% MGS 2035 (I) traded 5.8% lower, to close at €95.18.
The MSE Corporate Bonds Total Return Index added 0.3% to the previous week’s 0.2% increase, closing the week at 1,152.481 points.
A total of 56 issues were active, of which 20 registered gains while another 24 lost ground.
The best performance was recorded by the 5.9% Together Gaming Solutions plc Unsecured Callable Bonds € 2024-2026 as it closed 3.1% higher at €101. The 4% International Hotel Investments plc Secured € 2026 lost 2.3%, ending the week at €100.
In the Prospects MTF market, three bonds were active, generating a total turnover of €27,100. The 4.75% KA Finance plc Secured Callable Bonds 2026-2029 was the most liquid with a total weekly turnover of €18,900.
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 firstname.lastname@example.org.
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