MIA shares at a 16-month high

MSE Trading Report for week ending September 22, 2017

MSE Equity Total Return Index continued to decline, as the index fell by 0.52% to close the week at 8,868.448 points. A total of 16 equities were active during the week of which six headed north, while seven lost ground. In a four-day trading week, total turnover declined week-on-week from €3.53million to €1.35million.

Malta International Airport plcshares reached a 16-month high, settling at the €4.32 price level – as the equity traded positively for three consecutive sessions. A total turnover of €144,221 was generated over 16 trades.

In contrast, International Hotel Investments plc shares   plunged by 6.4% to close at €0.57, a 2017 low. A total of four trades generated a total turnover of €6,567.

On Monday, the company announced that it has concluded a five-year contract with a major European oil company to lease 1,222 square metres at its Commercial Centre in Tripoli, adjacent to the Corinthia Tripoli Hotel. The contract is worth just over €1 million annually.

In the banking industry, Lombard Bank plc shares outperformed its peers as the equity traded positively during the session closing 0.7% higher at €2.215. The equity traded over a single deal on slim volume.

On the other hand, HSBC Bank Malta plc and FIMBank plc shares traded lower. HSBC shares lost one per cent of its value to close at €1.901, while FIMBank shares declined by 3.3% to hit a near two-month low at $0.725.

Elsewhere, Bank of Valletta plc shares closed flat at €2.09, having recovered from a low of €2.071 - as 35 trades managed to generate a total turnover of €246,903.

In the telecommunications sector, GO plc shares extended last week’s decline as the equity lost 1.1% of its value, closing at €3.51.

At the other end of the spectrum, Maltapost plc shares fully recouped last week’s declined as the equity appreciated by 4.2% to close at €1.98. Total turnover was just over €100,000, spread over five transactions.

In the financial services sector, five trades amounting to 57,850 shares saw the price of Global Capital plc plunge by 17.50% to close at €0.33.

The retail conglomerate, PG plc climbed back to its all-time high as the equity added on a marginal 0.1%, to close the week at €1.41. A total of nine trades generated a total turnover of €45,410.

Similarly, SimondsFarsons Cisk plc shares reached a fresh all-time high, as the equity hit the €9.00 price level. A total of three trades saw 2,353 shares change hands.

RS2 Software plcshares closed marginally lower, as the equity oscillated between negative and positive ground, closing at €1.735. Turnover amounted to €211,681, spread over seven trades.

In the property sector, Tigne Mall plc shares was the best performer among its counterparts, while Malta Properties Company plc shares registered the weakest performance. Tigne Mall shares increased by 1.9% closing at €0.978, while Malta Properties shares declined by 3.1% to close at €0.503.

Their peers, Plaza Centres plc and Malita Investments plc closed unchanged at €1.05 and €0.749 respectively.

On Monday, 6pm Holdings plc announced that its board of directors is scheduled to meet on September 27, 2017, to consider and if thought fit, approve the Company’s Financial Statements for the financial year ended December 31, 2016.

Another negative week hit the Local Sovereign Debt market, as out of 20 issues, the absolute majority amounting to 15 closed in the red, while four gained ground and one closed unchanged. Longer-dated bonds continued to decline further as the  2.1% MGS 2039(I) R was the least effected among the lot, as the price declined by 0.16% to close at €98.84, having traded at a weekly high of €100

In the local corporate debt market a total of 33 issues were active during the week, as gainers and losers tallied to 11. The newly listed 3.5% Simonds Farsons Cisk plc Unsecured € 2027, appreciated by 3.1% in its first week of trading, closing at €103.05.

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 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 on Tel: 21224410, or email info@jesmondmizzi.com

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