MSE Equity Total Return Index back in positive territory

MSE Trading Report for week ending June 22, 2018

Following a marginal decrease last week, the MSE Equity Total Return Index was back in the black as a 0.253% gain was registered, to close at 8,655.699 points. Turnover was less than half of that generated last week, as it stood at €893,394.


MIDI plc was the week's top performer, as the property company’s share price appreciated by 6.7%, to close at €0.448. The equity traded on11 occasions, over which 259,344 shares exchanged hands. The positive market sentiment came as a result of information released on Thursday, where the company announced that it has entered into preliminary discussions with Tumas Group Company Limited to explore the possibility of establishing a joint venture with respect to the development of Manoel Island.

The discussions are at a preliminary stage and may or may not result in a transaction. Any eventual agreement will be subject to the Company’s contractual obligations and any necessary regulatory and shareholder approvals in terms of law. Throughout the process, the Company will communicate material updates, if any, in accordance with regulatory requirements. The Company’s forthcoming Annual General Meeting will be held June 27, 2018.


Mixed fortunes were experienced in the banking industry, as Bank of Valletta plc (BOV) declined, HSBC Bank Malta plc registered gains, while FIMBank Malta plc andLombard Bank Malta plc, albeit active, closed unchanged. BOV was active over 29 trades worth a total of €164,000. These yielded a fall in price of 0.3%, to close at €1.745. Contrarily, eight transactions in HSBC pushed the equity’s price up by 1.1%, to settle at €1.83. FIMBank Malta plc traded twice, while Lombard Bank Malta plc traded only once, as both closed unchanged at $0.52 and €2.28, respectively.


Insurance firm GlobalCapital plc and property company Santumas Shareholdings plc experienced the week’s heaviest losses as both equities traded on mere turnover. The former registered a 14.7% sell-off, while the latter slipped by 12%, to settle at its one month low. The respective prices at the end of the week read €0.29 and €1.32.

Malta Properties Company plc fell once again - this time by 3.7% over three deals of 12,418 shares, closing at €0.52. Sector counterparts Main Street Complex plc and Tigne` Mall plc also headed south. The former declined by 0.7%, to close at €0.675, while the latter slipped by 1.6%, to close at €0.935 – its lowest point in almost 10 months. Despite similar outcomes, turnover levels differed between the two. Main Street Complex plc traded only once on thin volume, while Tigne` Mall plc featured in nine trades worth a total of €90,100.


At the other end of the spectrum, Malita Investments plc appreciated by 3%, to reach a fresh 19-month high and closing the week at €0.855. Nine trades in this equity generated a total turnover of €43,500. Plaza Centres plc and Trident Estates plc were both active but closed unchanged at €1.04 and €1.31, respectively. Turnover levels for both companies were slightly over €14,000 for Plaza Centres and just under €50,000 for Trident Estates.


Grand Harbour Marina plc shares decreased by 5.1% over a single trade of 1,250 shares, to close at €0.75 – a fresh one-month low.


PG plc shares moved further up, having advanced by 1.5%, to close at a fresh one-month high of €1.32. The retail conglomerate's shares featured in six separate transactions of 25,550 shares.


GO plc shares appreciated by a minimal 0.6% across four deals of 13,500 shares, closing at €3.42.


International Hotel Investments plc shares were once again in the red, as a 0.7% decline was registered, to close at €0.68. The equity traded on seven occasions, in which a total of 39,194 shares exchanged hands.


Mapfre Middlesea plcand Simonds Farsons Cisk plc both had a positive week. The insurance company registered a 2.1% gain, to close off the week at €1.94, while the food and beverage company appreciated by 0.8%, to close the week at €6.75 – a fresh two-month high.


On Thursday, Mapfre Middlesea plc announced that the board is scheduled to meet on July 20, 2018 to consider and approve the interim financial statements for the half-year ended June 30, 2018.


On the other hand, on Friday, Simonds Farsons Cisk plc announced that all ordinary resolutions have been approved during their Annual General Meeting which took place on Thursday. Among these resolutions, a final net dividend of €2,600,000 paid out of tax exempt profits equivalent to a net dividend of €0.0866 per ordinary share as recommended by the Directors, was approved.


Medserv plc shares decreased by 2% over three trades of 8,630 shares, to close at €1.


RS2 Software plcwas one of the equities to close unchanged despite being active. The price at the end of the week read €1.25. Last Tuesday, RS2 Software plc announced that all ordinary resolutions have been approved (including the Special Business one) at the Annual General Meeting held on the same day. Among the resolutions, a net final dividend of €0.01c46 per Ordinary Share amounting to €2,504,303 as recommended by the Directors has been approved for payment on June 26, 2018.


Other equities to close unchanged albeit being active are; Malta International Airport plc, MaltaPost plc and Loqus Holdings plc. The airport company traded seven times for a total turnover of €67,700, while the other two companies traded on thin volumes.


In the corporate bond market, turnover revolved once again around the €2 million mark. A total of 40 issues were active, of which eight gained ground and 17 fell. The 5% Dizz Finance plc Unsecured € 2026 was the worst performer, having declined by 3.5%, as five deals worth €49,500 were executed, closing at €105.01.Meanwhile, the 3.5% Bank of Valletta plc € Notes 2030 S1 T1 was the most active issue, having witnessed a turnover of €454,500, closing minimally higher at €101.


In the sovereign debt market,23 issues were active of which 18 appreciated and three declined. Turnover levels were down by 50% from last week, as this stood at €3.7 million. The 4.1% MGS 2034 (I) was the most liquid issue, having witnessed a turnover of €658,000, closing 0.3% higher at €131.38.The 2.3% MGS 2029 (II) headed the list of gainers, having advanced by 1.1%, as 10 trades worth €275,900 were negotiated, to close at €108.66. Whereas, the 5.5% MGS 2023 (I) headed the list of fallers, having slipped by 0.6% as a result of a single trade worth €43,850, to close at €125.50.


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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