The MSE Equity Total Return Index closed every day last week in positive territory, ending the week 1.648 per cent higher at 8,653.735 points – fully erasing the previous week’s 0.178 per cent loss. Activity was spread across 17 equities, of which four fell and nine gained ground. Turnover fell to €1 million from €1.9 million traded in the previous week.

Malta International Airport plc (MIA) shares recouped the previous week’s minimal 0.9 per cent loss, closing at an all-time high of €5.80 – registering a 23.4 per cent rally as at year-to-date, following strong results announcements.

The local airport operator’s shares were negotiated across 29 transactions of 43,435 shares. MIA will distribute a net dividend of €0.03 per share on September 14, 2018 to all shareholders on the register as at August 22, 2018.

MIA published its traffic results for the month of August, showing that the positive trend set throughout this year has persisted. An increase of 9.5 per cent in passenger movements was registered compared to the same month last year.

The rise was in line with a 9.7 per cent increase in aircraft movements and a 10.5 per cent increase in seat capacity. Seat load factor was down by 0.7 percentage points to 87.4 per cent.

One of the most improved destinations was Spain, which increased by 30 per cent as a result of new routes introduced.

FIMBank plc shares headed the list of gainers, having advanced by $0.03  as 47,063 shares changed hands over seven trades, to close at a 24-week high of $0.59.

HSBC Bank Malta plc shares partially erased the previous week’s 5 per cent loss, having advanced by 4.1 per cent across 12 deals of 22,843 shares, closing €0.07 higher at €1.78.

Bank of Valletta plc shares reversed the previous week’s 0.7 per cent increase, having slipped by 1 per cent as 280,655 shares were executed over 71 transactions, to close at €1.495.

The insurance and investments services provider Mapfre Middlesea plc registered a 2.2 per cent decrease in its share price – adding to the previous week’s 1.6 per cent loss. The equity was active on one trade of 500 shares, and closed €0.04 lower at €1.82.

In the same sector, GlobalCapital plc published the financial results for the six month period ending June 30, 2018, showing a loss after tax of €1.9 million.

This contrasts sharply with the profit after tax of €1.4 million registered during the corresponding period last year.

The performance was mainly impacted by a loss registered by GlobalCapital Life Insurance Limited, as a result of a negative movement in the fair value of investments, coupled with an increase in technical provisions consequent to additional business being written during the period.

GlobalCapital Financial Management Limited and the Health Insurance Agency both registered declines in income and increases in costs, thus also contributing to the overall loss.

Operating profit was also down, from €0.76 million, to an operating loss of €1.8 million. The loss translates to a fall in earnings per shares, from €0.046, to a loss per share of €0.065. The directors did not recommend the payment of an interim dividend.

FIMBank plc shares head the list of gainers

In the I.T. sector, Loqus Holdings plc shares extended their losing streak, having registered a loss for the third consecutive week. The equity fell by 3.4 per cent as 5,300 shares changed hands over one deal, to close at €0.087 – recording a 50.6 per cent drop as at year-to date.

RS2 Software plc shares increased by a minimal 0.8 per cent, after having closed unchanged at €1.19 for four consecutive weeks, as one trade of 100 shares was executed, closing at €1.20.

Simonds Farsons Cisk plc (SFC) shares recouped the previous week’s 2 per cent decline, having appreciated by 4.1 per cent, to close €0.30 higher at €7.65 – a 32-week high. Activity in the food and beverage suppliers’ shares was spread across five transactions of 3,463 shares.

The board of directors of SFC is scheduled to meet on September 19 to consider and approve the interim financial statements for the six-month period ending July 31, 2018. The board will also consider the declaration of an interim dividend to shareholders.

SFC’s spin-off Trident Estates plc registered a 0.8 per cent increase in its share price – following a 0.8 per cent decline in the previous week. Trident shares witnessed three trades totalling 2,294 shares and closed at €1.33.

The oil and gas logistics services provider Medserv plc, managed to recoup the previous week’s 3.7 per cent drop, having advanced by 3.8 per cent. The equity was negotiated across five deals as 10,550 shares changed hands and closed €0.04 higher at €1.09 – registering a 13.4 per cent loss as at year-to-date.

PG plc shares closed unchanged at €1.38 as seven trades of 17,446 shares were negotiated. The retail and supermarkets owner distributed a net interim dividend of €0.023611 per share last Wednesday, to all registered shareholders as at August 24, 2018.

MaltaPost plc shares traded flat at €1.61 on one deal of 806 shares. The postal services provider registered a 24.1 per cent decline as at year-to-date.

The telecommunications services provider GO plc recorded a 1.2 per cent increase in its share price – after having slipped by 1.2 per cent in the previous week.

The equity witnessed eight transactions of 13,633 shares and closed €0.04 higher at €3.44.

Malta Properties Company plc shares also recouped from the previous week’s 4.3 per cent decline having advanced by 4.5 per cent across five trades of 11,266 shares, closing at €0.51.

Malita Investments plc shares erased the previous week’s 2.3 per cent increase, having slipped by 2.3 per cent, to close at €0.87.

Activity in the property management equity was spread over four deals amounting to 6,500 shares. The company distributed a net interim dividend of €0.023611 per share last Wednesday, to all registered shareholders as at August 24, 2018.

MIDI plc shares closed unchanged at their all-time high of €0.57 as 143,258 shares changed hands on 11 transactions. The equity has rallied by a significant 62.9 per cent as at year-to-date.

International Hotel Investments plc shares remained unchanged at €0.63 as four trades of 102,500 shares were executed along the week.

In the corporate bond market, turnover increased to €3 million from the previous week’s €2 million. A total of 49 issues were active, of which 18 appreciated and 15 fell. The 5.1% 6PM Holdings plc Unsecured € 2025 was the best performer, having increased by 4.7 per cent, to close at €100.50. Meanwhile, the 5% GlobalCapital plc Unsecured € 2021 headed the list of fallers, having declined by 2.8 per cent.

In the sovereign debt market, 21 issues were negotiated, of which 13 gained ground and seven closed in the red, as most long dated issues closing higher.

Turnover amounted to €3.6 million. The 4.3% MGS 2033 (I) was the most liquid issue, having witnessed a turnover of €643,098, closing 0.2 per cent higher at €130.20.

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 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).


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