The MSE Equity Total Return Index closed the week in positive territory with a 0.1% gain to close at 8,302.228 points. A total of 15 equities were active, of which eight headed north while another six closed in the opposite direction. A total weekly turnover of €0.7 million was generated across 139 transactions.
Malta International Airport plc managed to recover its previous week’s loss with a gain of nearly 3%. A total of 20 deals involving 14,659 shares pushed the price up to €5.80 after the equity traded at a weekly low of €5.65.
In the banking industry, HSBC Bank Malta closed the week with a positive 2% change in price, reaching the €0.96 price level. This was the outcome of seven deals involving 56,200 shares.
Likewise, Bank of Valletta plc gained 1.5% as turnover reached €125,883 over 13 transactions of 124,479 shares. The equity closed the week at €1.015.
Similarly, two deals involving 35,766 FIMBank plc shares pushed the price 2.5% higher, to close at $0.41.
Lombard Bank Malta plc headed the list of fallers with an 8% decline, ending the week at €2.02. A total of 34,871 shares were spread over 12 deals.
The most liquid equity of the week was RS2 Software plc as total turnover stood at €169,155. This was the result of 72,470 shares spread over 23 deals. The equity was also the best performer, as it was up by 3.45% to reach the €2.40 level.
From a year-to-date perspective, the equity is up by 12%.
On Monday, GO plc announced that the board agreed to recommend to the Annual General Meeting, to be held on July 28, the approval of the payment of a dividend of €0.10 (net of taxation), revised down from the original announcement wherein the company had stated that it would propose a dividend of €0.14 (net of taxation).
The final dividend for the year ended December 31, 2019 will be paid on July 30 to all shareholders on the shareholders’ register as at April 30, 2020.
The equity closed at €3.40 – the lowest price since early September 2018, which translates into a 3.41% decline.
The equity also traded at a high of €3.52. A total of 25,017 shares changed ownership across 20 transactions.
Its subsidiary, BMIT Technologies plc announced that the Annual General Meeting will be held on July 27. On Friday, the company issued another announcement referring to an article that appeared in the media wherein it was stated that all major company investments are being re-evaluated.
The company referred to its company announcement issued on the March 19, 2020, following the Covid-19 outbreak, in terms of which it was stated that the board of directors will continue to monitor developments closely and take the appropriate measures to safeguard its business.
The company reiterates its position that in view of the current situation, the board of directors and management will continue to re-evaluate all major investments regularly.
The equity was active but closed unchanged at €0.49. A total of 15 deals involving 123,927 shares were executed.
On Wednesday, Simonds Farsons Cisk plc (SFC) announced that it has notified the Malta Financial Services Authority about its intention to avail itself of the two-month extension granted in terms of the circular for the publication of its forthcoming Financial Analysis Summary (FAS) update.
At this time there exists little clarity as to the timing and nature of any amelioration to the current crisis being faced by businesses – and/or of the shape of any subsequent recovery in economic activity.
The company believes that an extension in the date for the publication of the FAS to not later than September 27, 2020 will enable it to obtain a greater degree of visibility of the impact on market conditions, as travel and other restrictions are lifted. Six deals, involving 3,050 SFC shares, resulted into a 3% increase in price, as it closed at €8.20.
Retail conglomerate, PG plc¸ was active on Thursday as it traded twice over 5,944 shares.
The equity recorded a 1% fall in price, ending the week at €1.98. On a year-to-date basis, the equity is up by 8%.
On Thursday, International Hotel Investments plc announced that the board shall meet on July 26 to consider, and if deemed fit approve, the audited financial statements for the financial year ended December 31, 2019.
The most liquid equity of the week was RS2 Software plc
The equity declined by 6% as 9,237 shares were spread over six deals, to close at €0.56.
On Wednesday, Malta Properties Company plc announced that the Annual General Meeting shall be held on July 29.
The equity registered a negative 3% movement in price, as it closed at €0.58.
Three deals involving 18,520 shares were executed.
MIDI plc also closed in the red at €0.37, translating into a 7.5% fall in price. A total of 37,000 shares were spread across three transactions.
On the other hand, Malita Investments plc ended the week on a positive note, as it closed 0.6% higher at €0.895. A total of 8,558 shares changed ownership over three deals.
Harvest Technology plc traded four times over 5,900 shares. The equity advanced by 3% as it closed at €1.49.
On Thursday, Grand Harbour Marina plc announced that it has notified the Malta Financial Services Authority of the company’s intention to avail itself of the two-month extension granted, in terms of the Circular, for the publication of its forthcoming FAS update.
The company expects to publish the FAS by not later than August 27. It believes that this extension will enable it to obtain a greater degree of visibility as to the likely market conditions, as travel restrictions are lifted, thus allowing for a better updating of financial forecasts for financial year ending December 31, 2020.
No trading activity was recorded during the week.
On Thursday, Medserv plc announced that the Annual General Meeting shall be held on July 31.
The equity was not active during the week
The MSE MGS Total Return Index registered a 0.672% increase, reaching 1,116.31 points. Out of 18 active issues, seven advanced while another nine lost ground.
The 2.3% MGS 2029 (II) headed the list of gainers, as it closed 6.14% higher at €121.00. Conversely, the 2.5% MGS 2036 (I) lost 3.85%, ending the week at €125.00.
The MSE Corporate Bonds Total Return Index ended the week in positive territory at 1,084.93 points, equivalent to a 0.238% rise.
A total of 43 issues were active, of which 18 registered gains while another 14 closed in the red. The top performer was the 4% Merkanti Holding plc Secured € 2026, with a 2.98% increase in price, ending the week at €104.00.
On the other hand, the 3.5% Bank of Valletta plc € Notes 2030 S1 T1 declined by 5.88%, to close at €96.00.
In the Prospects MTF market, four issues were active.
The 5% Busy Bee Finance Company plc Unsecured € 2029 was the most liquid with a total turnover of €43,968.
This article, which was 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, by phoning 2122 4410, or email info@jesmondmizzi.com.