The MSE Equity Total Return Index closed the year with a weekly gain of 0.69 per cent, at 8,999.034 points. This translates to an overall gain for the year of 3.81 per cent. In total, 20 equities were active, as six equities posted gains and another four closed lower.
Turnover amounted to €1.9 million over 83 transactions, which is quite significant considering that this was generated during just two days of trading.
One of the main drivers for the positive performance was the banking industry as three equities saw gains, led by Lombard Bank Malta plc with a 1.67 per cent increase in price to €2.44.
Six transactions of a combined 11,000 shares were concluded.
Similarly, Bank of Valletta plc recorded a 1.53 per cent price rise to €1.33, ended the year with a 26.1 per cent overall decline. Trading volume totalled 63,355 shares across 12 deals.
Fimbank plc followed suit as it advanced 1.35 per cent to $0.75. Three transactions of 16,000 shares were executed.
Two contrasting sessions by HSBC Bank Malta plc cancelled each other out, as the equity ultimately closed unchanged at €1.83.
A considerable turnover of €388,322 was generated over seven deals.
Similarly, GO plc, followed the same path as last Friday the equity recovered an earlier decline, to close the week unchanged at €3.96.
A total of 60,025 shares changed hands over three transactions.
The most liquid equity was International Hotel Investments plc as 1,347,090 shares changed hands over 14 transactions. The outcome was a 3.33 per cent rise in price to €0.62.
The company issued a statement by its chairman, Alfred Pisani, in relation to recent media reports relating to the proposed re-development at St George’s Bay.
In the statement, Mr Pisani started by explaining that the ultimate plan is to deliver a luxury holistic six-star environment for the new Corinthia Hotel, in line with the company’s confidence in the Maltese tourism sector.
The chairman addressed the questions which have been raised regarding the land valuation, stating that one should keep in mind that the company already enjoys long-term exclusive rights to the land, and thus any further payments will be made solely for the removal of restrictive conditions on the use of the land.
Also, subject to parliamentary and planning approval, and to the signature of the revised title deeds, the company shall proceed with the first phase of the project which envisages the redevelopment of the luxury Corinthia Hotel, as well as the development of two luxury serviced residential blocks.
In the meantime, the Marina and Radisson Hotels shall remain in operation until more definitive plans are made in the future.
Malta International Airport plc traded on slim volume, as three deals of just 554 shares were struck.
None of these trades had an impact on the share price of €5.80.
Meanwhile, a sole deal of 3,165 MaltaPost plc shares shaved 1.25 per cent off the share price, to close the year at €1.58.
Conversely, Mapfre Middlesea plc was up 2.05 per cent to €1.99 over five trades of a combined 4,530 shares.
A gain recorded by RS2 Software plc on Thursday proved unsustainable as the equity ultimately closed the week unchanged at €1.40. A significant turnover of €255,798 was generated across 16 trades.
In the Food and Beverage sector, Simonds Farsons Cisk plc traded just once on slim volume, as it closed unchanged at €8.75.
Meanwhile, a single transaction of 5,367 Grand Harbour Marina plc shares dragged the price down by 4.11 per cent to €0.70.
Santumas Shareholding plc also traded once, but this had no bearing on the share price of €1.42.
The most liquid equity was International Hotel Investments plc as 1,347,090 shares changed hands over 14 transactions
Retail conglomerate PG plc traded flat at €1.33 as a couple of deals of 8,200 shares were registered.
In the property market, MIDI plc saw no change in price this week despite being active once on slim volume. The equity was the best performer of the year, as it recorded an impressive gain of 91.4 per cent over the previous year.
A single deal of 2,000 Plaza Centres plc shares pushed the price upwards by two per cent, reaching €1.02.
Last Thursday, Malta Properties Company plc issued an announcement, looking back at the second half of 2018. During this period, the company has continued its leasing operations, as well as the development of the properties available for leasing purposes. The construction of the Żejtun exchange and data centre is in line with the planned timelines and thus it is expected to be completed by the end of next year. The Group has completed and fully leased out its last office at the newly refurbished premises, ‘The Bastions’, in Floriana to the Planning Authority. The new Birkirkara Exchange is near completion and shall be handed over to GO plc at the beginning of next month.
During the third quarter of the year, the Group finalised the deed of sale of its Sliema Old Exchange site for a consideration of €5 million, and entered into a promise of sale agreement for its St George’s site. The company is still in discussions with SmartCity (Dubai) FZ-LLC regarding the potential acquisition of 91 per cent shareholding in SmartCity (Malta).
In view of all this, the group’s financial performance remains satisfactory and is expected to be in line with the projections for 2018. The Company expects to remain in a healthy financial position. The equity sank 1.72 per city this week across one trade of 1,700 shares.
A couple of deals of 3,000 Malita Investments plc shares were recorded, but the equity traded flat at €0.88.
Tigne Mall plc edged 1.53 per cent this week to settle at €0.965. Traded volume amounted to 7,000 shares over two trades.
Main Street Complex plc closed unchanged at €0.65 despite being active on one deal of 3,200 shares.
The Malta Government Stocks market returned to negative territory last week, as 13 of the 18 active issues closed lower, while only two headed north. The 2.1% MGS 2039 (I) topped the list of fallers with a 0.68 per cent price decline to €101.90. The most notable exception to the negative trend was the 2.2% MGS 2035, as it gained 1.83 per cent to €105.04.
Performances in the corporate debt market were more balanced as from the 24 active bonds, ten gained ground and nine traded negatively. The best performer was the 4.25% Best Deal Properties Holding plc € Secured Bonds 2024 which gained 4.85 per cent to €104.85 during its first week of trading. At the other end of the spectrum, the 5% GlobalCapital plc Unsecured € 2021 lost two per cent in value to €98.
We would like to take this opportunity to wish all our readers a prosperous new year.
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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