MSE Index ends the week in positive territory

MSE Daily Trading Report, 24 April, 2020

The MSE Equity Total Return Index closed the session 0.385% higher at 8,224.722 points. Out of 15 active equities, seven registered gains while another four closed in the red. A total turnover of €697,518 was generated over 95 transactions.

Malta International Airport plc registered the largest turnover during the session as 15 trades managed to generate a total turnover of €210,009. The equity declined by almost 1% to reach the €5.05 price level.

Meanwhile, BMIT Technologies plc also registered a high turnover during the session as two trades managed to generate a total turnover of €71,973. The equity rose by 0.41% at €0.494.

Its parent company, GO plc also traded in positive territory as the equity registered an advancement of 4.26% to close the session at €3.92.

International Hotel Investments plc registered a gain of 1.69% as it ended the session at €0.60. Three deals involving 11,203 shares generated a total turnover of €6,722.  Similarly, Plaza Centres plc was up by 4.3% as it closed at €0.97.

In the banking sector, Bank of Valletta plc and HSBC Bank Malta plc shares headed in the opposite direction. BOV shares closed the session 0.93% lower at €1.06, while HSBC shares closed 1.52% higher, closing at the €1.00 price level.

Meanwhile, their peer Lombard Bank plc traded twice during the session managing to generate a total turnover of €20,142, closing flat at the €2.12 price level.

RS2 Software plc shares were up by 3.1% to close the session at the €2.00 price level. A total turnover of €57,335 was generated as 29,399 shares were spread over 12 transactions.

In the property sector, MIDI plc and Malita Investments plc headed in the opposite direction. MIDI shares were down 10.8% to close at €0.396, while Malita shares were up by 3.7% at €0.84. Meanwhile, Malta Properties Company plc traded once over 2,000 shares. The equity’s previous closing price of €0.55 was not impacted.

Simonds Farsons Cisk plc announced that the board shall meet on May 27, 2020, to consider and approve the audited financial results for the year ended January 31, 2020. The board shall also consider the declaration of a final dividend, which would be recommended at the forthcoming AGM – to be held when the situation permits.  The equity closed the session 2.4% lower at €8.15. A total turnover of €18,209 was generated across six transactions involving 2,225 shares.

Elsewhere, Maltapost plc and PG plc were active but remained unchanged at €1.20 and €1.82 respectively

On Friday, Harvest Technology plc announced that the board approved the audited financial statements for the financial year ended December 31, 2019. Profit before tax increased to €3.04 million while earnings per share also increased from 0.0255 to 0.0917 Euro cent. The group’s revenue was up by 3.09% from the previous year as it stood at €16 million. Similarly, the group’s net assets have also increased from  €0.5 million to €2.1 million.

The profit before depreciation, amortisation, net finance expense and taxation more than doubled, as it amounted to €3.9 million. The group’s current ratio, that is the current assets divided by the current liabilities, stands at 1.25:1 versus the previous year’s ratio of 1.16:1. The group aims a return on average capital employed above the level of its cost of funding – such figure improved from 10% to 31% during the year under review due to an improvement in profitability.

The board declared a net dividend of €410,051, equivalent to €0.018 per share, having a nominal value of €0.50 per share. Due to the current situation, the next Annual General Meeting (AGM) will be held in the future when the situation permits. Therefore, the board decided to proceed with the dividend payment. All shareholders included in the shareholders’ register of the company as at April 30, 2020 shall be entitled to receive such dividend, to be paid on May 15, 2020. During the AGM, the payment of the dividend and payment of November 2019’s net interim dividend of €0.0417 per share (with a nominal value of €0.50 per share), shall be submitted for approval by the company’s shareholders.

The group saw a 25% improvement from the budgeted projection as net profit before tax stood at €835,000 during the first quarter of 2020. However, while the group continues to seek alignment of its results, the board remains aware that such targets may need to be revised, depending how the situation unfolds in the near future.

In the Sovereign Debt market, a total of nine issues were active of which three headed south while two closed higher. The 2.5% MGS 2036 (I) closed the session 1.56% lower at €126.

In the Corporate Debt market, nine issues were active, of which six headed north while another one closed in the opposite direction. The 5% GlobalCapital plc Unsecured € 2021 was the only issue which registered a decrease as the price dropped by 1.89% to close the session at €96.15.

In the Prospects MTF market, the 5.75% Pharmacare Finance plc Unsecured EUR Bonds 2025-2028 was active as it closed 0.5% higher, to close at par.

The Equities traded today were:

The Corporate Bonds traded today were:

The Government Stocks traded today were:

The Prospect MTF bonds traded today were:

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].