Trading on the Malta Stock Exchange during this holiday shortened week saw the index close flat while turnover dropped by almost 42 per cent to €693k. Activity was spread across 14 equities of which seven closed in the red, four gained ground and three closed unchanged.

In the banking sector, Bank of Valletta plc shares registered a 0.4 per cent decline on the highest turnover for the week of €160k, to close at €2.252. Conversely, its peer, HSBC Bank Malta plc ended the week with a 1.3 per cent gain having closed at its weekly high of €1.62 as 9,978 shares changed hands over 11 deals.

FIMBank plc shares also ended the week in the red by half a per cent – the equity traded at a high of $0.92 and a low of $0.90 to then close at $0.91. A total of 97,815 shares were negotiated over six deals.

Elsewhere, GO plc shares extended their recent gains by a further 0.6 per cent thus registering its eight weekly gain to close at €3.17 on a turnover worth €44k.

A modest gain of 0.06 per cent was registered in the share price of Medserv plc on five deals of 17,140 shares, closing at €1.551.

After weeks of inactivity, Loqus Holdings plc shares were back on the trading board as one trade of 356 shares was executed at €0.136, thus registering a 0.7 per cent gain.

On a negative note, GlobalCapital plc shares were this week’s worst performers having dropped by 1.8 per cent to €0.49 as 18,244 shares were dealt.

Elsewhere, the share price of Malta Properties Company plc dropped by 1.7 per cent to €0.531 on a significant volume of 215,601 shares. Similarly, three deals of 32,000 shares in Plaza Centres plc dragged its share price 1.3 per cent lower to €1.12.

A 1.1 per cent decline was also noted in the share price of Malita Investments plc over four deals of 26,000 shares executed at €0.851.

Tigne Mall plc was the only equity in the property sector to close unchanged at €1.04 on a volume of 71,000 shares.

In the IT sector, RS2 Software plc shares shed one per cent on 22 deals worth €83k. The equity traded between a high of €1.63 and a low of €1.60, ending the week at €1.625.

No movement was registered in the share price of International Hotel Investments plc as a decline on Monday was completely reversed during yesterday’s session – the equity closed at €0.635 over two deals of 8,426 shares. Similarly, Malta International Airport plc shares maintained the €4.24 price level throughout the week over five deals of 5,680 shares.

In an announcement last Thursday, Mapfre Middlesea plc announced that the Malta Financial Services Authority approved the intra-group merger between Mapfre Internacional SA, the major shareholder in Mapfre Middlesea plc and Mapfre America SA. The latter surviving entity will change its name to Mapfre International SA in the coming months. This equity was not active this week.

In the corporate bond market, activity dropped from €1.1m to €660k spread across 24 issues of which nine declined, seven gained ground and eight closed unchanged.

This week three companies announced the issuance of new bond issues.

Mediterranean Maritime Hub Finance plc announced the issuance of €15m Unsecured Bonds maturing in 2026. The bonds will offer a coupon of 4.8 per cent p.a. and will be issued at €100 per bond.

Dizz Finance plc also announced the issuance of €8m Unsecured Bonds maturing in 2026. The bonds will offer a coupon of five per cent p.a. and will be issued at €100 per bond.

GAP Group plc also announced the issuance of €40m Secured Bonds maturing in 2023. The bonds will offer a coupon of 4.25 per cent p.a. and will be issued at €100 per bond.

In the sovereign debt market, 17 stocks closed in positive territory while five short dated issues lost ground. Turnover in this market also declined from €16m to €11m. The three per cent MGS 2040 (I) was the best performer with a two per cent gain having closed at €119.30 while the most liquid issue was the 2.4 per cent MGS 2041 (I) r with a turnover worth €5.6m.

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 info@jesmondmizzi.com

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