MSE Index lower on mixed trading
MSE Trading Report for week ending June 28, 2018
The MSE Equity Total Return Index partially erased last week’s gain, as it slipped 0.21% to 8,637.132 points. A total of 19 equities were active this week, as fallers marginally outweighed gainers – seven securities to six. The trend of somewhat low investor participation persisted as a turnover of €851,077 was generated over 131 transactions.
The banking industry was one of the main drivers of the negative performance, as Bank of Valletta plc (BOV) and Fimbank plc both lost ground. BOV declined by 0.86% as 80,794 shares were exchanged over 27 transactions. This translates to a 0.57% monthly loss, as it oscillated around the €1.74 price level throughout the month, to ultimately close at €1.73.
Its peer, Fimbank, recorded a 2.88% loss in value this month, following three trades executed this week, totalling 25,333 shares.
In the same sector, HSBC Bank Malta plc moved in the opposite direction, up by 0.55%, to top off a very positive month, during which the equity rallied 6.98%. A total of 83,438 shares were exchanged over 12 deals.
Lombard Bank Malta plc continued on its recent trend, as it closed both the week and the month unchanged at €2.28 – Three deals on slim volume were recorded during the week.
In the telecommunications sector, GO plc traded seven times mid-week, as 10,982 shares changed ownership. The outcome was a decrease in value of 2.34%, to close the at €3.34. The negative price movement for the month was slightly lower at 1.76%.
Similarly, International Hotel Investments plc (IHI) was down by 2.94% this week across a considerable volume of 127,283 shares over 17 deals. Nonetheless, June was still a very good month for IHI as it closed 4.76% higher at €0.66.
Despite generating a turnover of €31,162, Malta International Airport plc closed unchanged at €4.98, as contrasting performances were registered early during the week – equating to a marginal decline over the month of 0.4%.
A single trade of 5,000 Mapfre Middlesea plc shareshad no bearing on the share price of €1.94, leading to a monthly decline of 4.9% accumulated in the previous weeks.
RS2 Software plc rebounded by 5.98% this month even though it drifted 0.8% lower this week, to end the month at €1.24. A total of 13,200 shares changed hands over three transactions.
In the food and beverage sector, Simonds Farsons Cisk plc advanced by 2.22% this week, extending its month-on-month gain to 5.34% and closing at €6.90.
Similarly, retail conglomerate PG plc put on an additional 0.76%, to bring its final monthly increase to 3.91%. The equity closed at €1.33 after a couple of transactions of a combined 10,000 shares were executed on Thursday.
Medserv plc posted a monthly fall in price of 4.76% to €1, albeit closing unchanged during this week’s trading sessions. The five recorded trades generated a turnover of €27,420. On Monday, Medserv announced that it has signed a second contract with a multinational oil and gas corporation to provide Shore Base Logistics services for exploration activities taking place offshore Cyprus. To provide these services, the company shall be setting up additional logistics facilities in the port of Limassol. This contract shall be serviced through the group’s internal resources. The award of this contract is another major step to broaden the Group’s oil and gas client portfolio.
In the property sector, a couple of deals of 3,000 Plaza Centres plc shares had no effect on the price of €1.04, thus closing the week and the month unchanged.
The Annual General Meeting of MIDI plc was held on Wednesday during which the audited financial statements for the financial year ended December 31, 2017 and the final net dividend of €0.007 per share were approved, together with the board of directors, the reappointment of the auditors, and the maximum annual aggregate remuneration for all directors. The equity ended the week with a 6.25% rally to €0.476, pushing the monthly gain to a substantial 9.68%. The equity was the most liquid as a turnover of €153,410 was generated over 21 deals.
Similarly, June marked a positive month for Malita Investments plc,as its share price appreciated by 2.98% to €0.865. During the last week of the month, the equity climbed 1.17% as 101,847 shares were exchanged across five deals.
A single transaction on slim volume of Malta Properties Company plc shares had no effect on the share price of €0.52, confirming the month-on-month decline of 5.45%.
On Monday, Tigne Mall plc held its Annual General Meeting, during which the audited financial statements for the year ended December 31, 2017 were approved, as was the final net dividend of €0.0128 per ordinary share as recommended by the directors. The auditors, the directors and the maximum annual aggregate directors’ emoluments were also approved during the meeting. The equity registered a positive price movement of 1.6% to €0.95 this week, but was not enough to overturn the monthly decline of 3.06%. Six transactions of a combined 36,000 shares were executed.
Trident Estates plc held its Annual General Meeting on Wednesday, June 27, 2018 during which all resolutions on the agenda were approved. This includes the financial statements for the year ended January 31, 2018, the appointment of the company’s auditors, and the approval of the aggregate amount of emoluments payable annually to all directors. The equity traded in negative territory as a single trade dragged the share price lower by 3.05% to €1.27, equivalent to the monthly loss.
Main Street Complex plc also traded on slim volume, as a single trade was executed on Thursday at a price of €0.67. This translates to a 0.74% fall for the week and a 4.29% loss over the month.
In the corporate debt market, a total of 42 issues were active during the week, generating a turnover of €1.8 million over 155 deals. Gainers totalled 18 securities while fallers amounted to 11.
The5.5% Pendergardens Developments plc Secured € 2020 Series Iheaded the list of fallers, as a price decline of 2.74% was recorded, to close at €103.
On a positive note, the 5% GlobalCapital plc Unsecured € 2021 partially recovered the previous week’s loss, as it climbed 1.75% to €101.85.
Yields in the sovereign debt market were up this week as from the 25 active issues, 22 traded lower while the rest headed north. A total turnover of €2.1 million was generated over 135 transactions – with a substantial activity taking place across the long-dated 2.1% MGS 2039 (I) issuance, having edged marginally lower by 0.07% to €100.69.
The largest loss in value was registered by the 4.3% MGS 2033 (I) which drifted 0.83% to €131.97.
One of the few exceptions was the long-dated 2.4% MGS 2041 (I), gaining a marginal 0.09%, to close at €106.