Bank of Valletta dominates trading activity in week one

MSE Trading Report for week ending January 5, 2018

The MSE Equity Total Return Index started off 2018 in the red as the index fell by 0.21% over three trading days, closing at 8,650.747 points.  A total of 16 equities were active during the week of which five gained ground while six declined. A total turnover of €1.097million was generated between 141 transactions.

In the banking industry, Bank of Valletta plc (BOV) took the lion’s share of total turnover managing to generate 84.3% of total turnover over 87 transactions. Despite the relatively high turnover the equity held on to its €1.80 price level.

Same can be said for Lombard Bank plc shares as a single trade of 904 shares wasn’t enough to veer the equity’s price, closing at the €2.30 price level.

Banking counterpart, HSBC Bank Malta plc shares fully erased last week’s advancement as the equity headed 1.4% lower, closing at €1.76. A total turnover of €24,948 was generated between 10 deals.

On Friday, the bank announced that the Board of Directors is scheduled to meet on February 20, 2018 to approve the Group’s and the bank’s Final Audited Accounts for the financial year ended December 31, 2017 and to consider the declaration of a final dividend to be recommended to the bank’s Annual General Meeting (AGM) to be held on April 12, 2018.

In the telecommunications sector, GO plc shares added 0.3% to its share price, as four trades over a slim volume managed to push the price to €3.56.

Last week, Malta International Airport plc welcomed its sixth millionth passenger in a single year, topping all its previous traffic records. Despite the positive result the equity’s price remained unchanged at €4.70. A total of six trades managed to generate a total turnover of €25,145.

International Hotel Investments plcshares added 2.1% to its share price to close on an eight month high at €0.64. A total of five deals saw 28,250 shares exchange hands.

Insurance firms, Mapfre Middlesea plc and GlobalCapital plc headed in the same direction as both equities registered gains of 2.1% and 2.6% respectively. Middlesea and GlobalCapital shares closed at the €1.82 and €0.32 respectively. The former traded on time volume while 31,250 shares changed hand in Global Capital.

RS2 Software plc shares oscillated to highs of €1.53 and lows of €1.47, closing the week 0.7% lower at €1.53. A total of seven trades managed to generate a total turnover of €37,360.

Retail conglomerate, PG plc shares held firm to their €1.40, as three trades amounting to 10,700 shares were unable to veer the equity’s price.

On Wednesday, Simonds Farsons Cisk plc traded four times over 1,720 shares, seeing the price decline by 0.2%, to close at €8.50.

In the oil and gas sector, Medserv plc shares plunged by 8.7% to close the week at €1.15. A total turnover of €5,135 was generated over two transactions.

Meanwhile, a single trade of 1,800 shares in Plaza Centres plc saw the price appreciate by 1.8% to close at €1.11.

Same cannot be said to property counterparts, Malta Properties Company plc (MPC) shares and Malita Investments plc as both equities headed south.  MPC shares dipped by 8.3% to close the week at €0.44, while Malita Shares declined by 0.6% to close at €0.815.

Elsewhere, MIDI plc shares closed flat at €0.35. A total of two transactions saw 6,000 shares exchange hands.

In the corporate debt market a total of 26 issues were active, of which 13 headed north, while seven headed in the opposite direction. After last week’s decline of 1%, the 4% Stivala Group Finance plc Secured € 2027 closed 0.1% higher at €102.10.

On Wednesday, International Hotel Investments plc announced that further to the company announcement issued on August 28, 2017 and the circular to shareholders and bondholders dated September 7, 2017, the merger of Island Hotels Group Holdings plc (IHGH) with the Company has become effective as of December 29, 2017. In consequence, the outstanding bond issued by IHGH will be renamed 6% International Hotel Investments plc 2024 while retaining the current ISIN – MT0000481227.

The negative sentiment persisted in theLocal Sovereign Debt market, as from 14 active issues, the absolute majority amounting to 12 closed in negative territory. Longer dated bonds registered the largest declines with the exception of the 2.1% MGS 2039 which closed flat at €101 and this week’s only gainer, namely the 3% MGS 2040, which added on 1% to its bond price, to close at €115.15.

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

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