MSE Index closes broadly flat
MSE Daily Trading Report, 23 April, 2020
The MSE Equity Total Return Index ended the session slightly higher at 8,193.206 points. Out of 13 active equities, five registered gains while another four closed in the red. A total turnover of €322,983 was generated over 66 transactions.
The top performer was Lombard Bank Malta plc as it reached the €2.12 price level – translating into a 6% gain. This was the result of two deals involving 2,500 shares, worth €5,260.
On a similar note, Bank of Valletta plc was up by 2.88% as it ended the session at €1.07. Total turnover of €23,405 was generated as 22,149 shares changed hands across 10 transactions.
On the other hand, HSBC Bank Malta plc lost ground, as it closed 1.5% lower at €0.985. Five deals involving 24,500 shares generated a total turnover of €24,228.
FIMBank plc announced that Fitch Ratings has downgraded its long-term Issuer Default Rating (IDR) and Viability Rating (VR) to B+ from BB-. At the same time, Fitch has confirmed the bank’s short-term IDR at B. Fitch Ratings is expecting a severe decline in this year’s global economy, particularly resulting from the disruption on operations caused by the coronavirus pandemic.
The downgrade in VR, which drives the long-term IDR, was driven by heightened pressure on the bank’s business model, continued asset-quality deterioration and weakened profitability, as reflected in the banks’ 2019 financial results. This negative outlook on the long-term IDR reflects Fitch Rating’s view that the economic and financial market fallout from the current Covid-19 pandemic shall add more downside risks to the bank’s business model stability, asset quality and earnings.
The equity did not record any trading activity.
Malta International Airport plc lost ground as it closed at €5.10, which translates into a 0.97% declined. A total of 14,494 shares changed hands across 17 transactions, generating a total turnover of €72,929.
The highest liquidity for today’s session was recorded by RS2 Software plc as total turnover stood at €98,282. A total of 51,515 shares changed ownership over 11 deals, pushing price 2.11% higher to €1.94.
Nine deals involving 105,485 BMIT Technologies plc shares resulted into a 0.82% increase in price. The equity ended the session at €0.492 while total turnover amounted to €51,605. Meanwhile, its parent company, GO plc, was active but closed unchanged at €3.76.
International Hotel Investments plc headed the list of fallers with a 5.6% decline in price, to close at €0.59. Three deals involving 13,000 shares were executed, generating a total turnover of €7,690.
A sole deal of 3,000 Malita Investments plc shares pushed price 1.25% higher, reaching the €1.82 price level. A total turnover of €2,430 was recorded. Conversely, Plaza Centres plc declined by 1.06% as one transaction of 2,000 shares was executed. The equity ended the session with a total turnover of €1,860 as price decreased to €0.93.
Retail conglomerate, PG plc, was active but closed unchanged at €1.82. Two deals involving 5,300 shares generated a total turnover of €9,646.
Elsewhere, Simonds Farsons Cisk plc and Medserv plc recorded two deals each with thin volume, both of which did not impact the equities’ previous closing price. The former ended the session at €8.35 while the latter closed at €0.89.
In the Sovereign Debt market,out of nine active issues, the 2.5% MGS 2036 (I) was up by 1.59% to €128.00 while another three issues lost ground. The 3% MGS 2040 (I) registered a 4.79% decline, as it ended the session at €139.00.
In the Corporate Debt market, 20 issues were active, of which right headed north while another two closed in the opposite direction. The 6% Pendergardens Developments plc Secured € 2022 Series II headed the list of gainers as it closed 1.72% higher at €103.75. On the other hand, the 5% Dizz Finance plc Unsecured € 2026 traded 2.04% lower at €96.00.
In the Prospects MTF market, four issues were active, of which three advanced while the other one traded lower. The 5% Horizon Finance plc Secured Callable € Bonds 2026-2029 registered the best performance as it closed 1.53% higher at €99.50.
The Equities traded today were:
| Symbol Code | Volume Traded | Value Traded | Trades | Closing Price | % Change |
| BOV | 22,149 | 23,404.95 | 10 | 1.070 | 2.88 |
| HSB | 24,500 | 24,227.50 | 5 | 0.985 | -1.50 |
| LOM | 2,500 | 5,259.98 | 2 | 2.120 | 6.00 |
| SFC | 290 | 2,421.50 | 2 | 8.350 | 0.00 |
| GO | 5,045 | 18,969.20 | 1 | 3.760 | 0.00 |
| IHI | 13,000 | 7,690.00 | 3 | 0.590 | -5.60 |
| PZC | 2,000 | 1,860.00 | 1 | 0.930 | -1.06 |
| MIA | 14,494 | 72,929.00 | 17 | 5.100 | -0.97 |
| MDS | 4,785 | 4,258.65 | 2 | 0.890 | 0.00 |
| RS2 | 51,515 | 98,281.79 | 11 | 1.940 | 2.11 |
| MLT | 3,000 | 2,430.00 | 1 | 0.810 | 1.25 |
| PG | 5,300 | 9,646.00 | 2 | 1.820 | 0.00 |
| BMIT | 105,485 | 51,604.79 | 9 | 0.492 | 0.82 |
The Corporate Bonds traded today were:
| Closing Price | % Change | |
| 6% Pendergardens Developments plc Secured € 2022 Series II | 103.750 | 1.72 |
| 5.8% International Hotel Investments plc 2023 | 100.000 | 0.00 |
| 6% International Hotel Investments plc € 2024 | 100.000 | 0.00 |
| 5.75% International Hotel Investments plc Unsecured € 2025 | 100.000 | -0.99 |
| 4.5% Hili Properties plc Unsecured € 2025 | 96.530 | 0.00 |
| 4.25% Corinthia Finance plc Unsecured € 2026 | 99.700 | 0.00 |
| 4% MIDI plc Secured € 2026 | 100.300 | 0.05 |
| 4% International Hotel Investments plc Secured € 2026 | 99.990 | 0.00 |
| 4% Merkanti Holding plc Secured € 2026 | 99.000 | 0.51 |
| 5% Dizz Finance plc Unsecured € 2026 | 96.000 | -2.04 |
| 3.75% Premier Capital plc Unsecured € 2026 | 100.000 | 0.01 |
| 4% International Hotel Investments plc Unsecured € 2026 | 98.000 | 0.00 |
| 4% Eden Finance plc Unsecured € 2027 | 100.000 | 0.00 |
| 3.5% Simonds Farsons Cisk plc Unsecured € 2027 | 105.000 | 0.00 |
| 3.75% Bortex Group Finance plc Unsecured € 2027 | 98.600 | 1.65 |
| 4% Exalco Finance plc Secured € 2028 | 100.000 | 0.00 |
| 4.15% Phoenicia Finance Company plc Unsecured € 2023-2028 | 99.000 | 0.00 |
| 4% SP Finance plc Secured EUR Bonds 2029 | 99.000 | 0.01 |
| 3.65% Stivala Group Finance plc Secured € 2029 | 99.700 | 0.20 |
| 4.25% Mercury Projects Finance plc Secured € 2031 | 101.000 | 1.00 |
The Government Stocks traded today were:
| Closing Price | % Change | |
| 4.5% MGS 2028 (II) | 133.170 | -0.62 |
| 2.3% MGS 2029 (II) | 117.100 | 0.00 |
| 5.2% MGS 2031 (I) | 150.000 | 0.00 |
| 4.65% MGS 2032 (I) | 149.000 | -1.32 |
| 4.45% MGS 2032 (II) | 146.000 | 0.00 |
| 4.3% MGS 2033 (I) | 151.000 | 0.00 |
| 4.1% MGS 2034 (I) | 150.000 | 0.00 |
| 2.5% MGS 2036 (I) | 128.000 | 1.59 |
| 3% MGS 2040 (I) | 139.000 | -4.79 |
The Prospects MTF bonds traded today were:
| Closing Price | % Change | |
| 5% The Convenience Shop Holding plc Unsec Call € 2026-2029 | 100.500 | 0.50% |
| 5% Horizon Finance plc Secured Callable € Bonds 2026-2029 | 99.500 | 1.53% |
| 5% FES Finance plc Secured € 2029 | 99.500 | -1.49% |
| 5% Busy Bee Finance Company plc Unsecured € 2029 | 101.000 | 0.10% |
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. Jesmond Mizzi Financial Advisors Limited is licensed to conduct investment services by the MFSA and is a Member Firm of the Malta Stock Exchange. 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 [email protected].