Last week, the Malta Stock Exchange (MSE) index extended its recent losing streak by declining by 0.046 per cent, to close at 4,629.201 points.

Activity was spread across 19 equities, of which five advanced, seven fell and another seven closed unchanged. Turnover totalled to €753,313.

Medserv plc shares headed the list of fallers, stumbling by €0.06, or 4.8 per cent, to close at a two-year low of €1.19 and registering a 13.8 per cent drop in May. The oil and logistics provider’s shares were active in 14 deals of 66,750 shares.

In the banking sector, HSBC Bank Malta plc shares fully recouped the previous week’s losses, increasing by 0.5 per cent after registering six consecutive weekly declines. The equity was traded in 13 deals of 27,569 shares, closing at €1.99.

Bank of Valletta plc (BOV) shares appreciated by 1.3 per cent in the week’s highest turnover of 39 transactions of 102,604 shares, to close at €2.189. Conversely, Fimbank plc shares edged 0.6 per cent lower after three deals of 2,457 shares, closing at $0.775.

Lombard Bank Malta plc shares sagged by 3.8 per cent as 3,146 shares changed ownership in a sole transaction, to close €0.09 lower at €2.30. On the other hand, Maltapost plc shares increased by one per cent as a sole deal of a mere 2,000 shares was struck, closing at €2.05 – a five-week high.

All equities active in the property management sector registered no change last week. Plaza Centres plc shares closed unchanged at €1.04 as two deals of 1,500 shares were executed, recording a 1.9 per cent decline for May. Midi plc shares traded flat at €0.315 as a sole transaction of 3,000 shares was executed. The equity registered a five per cent increase in May.

Malita Investments plc shares remained unchanged at €0.72 after six deals of 13,780 shares, closing 2.7 per cent lower during May. Similarly, Malta Properties Company plc (MPC) shares closed unchanged at €0.51 as 13,534 shares changed hands in eight transactions. The equity declined by 1.4 per cent in May.

Malta International Airport plc (MIA) shares advanced for the third consecutive week, climbing by 0.5 per cent after18 deals of 20,569 shares, to close at €4.149. Meanwhile, Mapfre Middlesea plc shares partially recovered the previous week’s loss after appreciating by 1.5 per cent as 4,680 shares changed hands in two deals, closing at €1.98. Simonds Farsons Cisk plc (SFC) shares slipped by a minimal 0.01 per cent after three deals of 3,980 shares, to close at €7.55, just below their all-time high of €7.551.

GO plc shed €0.05, or 1.4 per cent of its share price as seven transactions of 29,400 shares were negotiated, closing at €3.50. On a similar note, PG plc shares fell by 3.8 per cent after 12 deals of 69,547 shares, closing at €0.049 lower at €1.25.

RS2 Software plc shares declined by 1.3 per cent after eight deals of 18,715 shares, to close at €1.53.

The IT equity registered an impressive 10.5 per cent increase during May when one takes into consideration the bonus share issue of one share for every 12 shares held, which was allocated to shareholders in May.

Loqus Holdings plc shares traded flat at €0.17 after six deals of 44,117 shares. Likewise, International Hotel Investments plc (IHI) shares closed unchanged at €0.62. The hoteliers’ equity was active in three deals of 11,000 shares.

The other non-movers last week were Global Capital plc shares, which traded flat at €0.34 after two transactions of 11,500 shares.

In the corporate bond market, 29 issues were active, of which eight declined, 13 advanced and eight closed unchanged. Turnover totalled €1.3 million, compared to €2.1 million traded in the previous week. The six per cent Medserv plc secured and guaranteed euro notes 2020-2023 S1 T1 headed the list of gainers, increasing by 2.7 per cent to close at €109. Meanwhile, the six per cent AX Investments plc euro 2024 was the worst performer, declining by 1.8 per cent to close at €110.

Last Monday, regulatory approval was given for the issuance of €40 million five per cent Mediterranean Investments Holding plc unsecured bonds 2022, at par with a nominal value of €100 per bond, guaranteed by Corinthia Palace Hotel Co. Ltd.

The company will be redeeming the 7.15 per cent EUR-, GBP- and USD-denominated bonds 2015-2017 on July 6  in accordance with the terms of the prospectus dated June 14, 2010.

Tumas Investments plc announced that the MFSA listing authority has approved the issue of an aggregate principal amount of €25 million 3.75 per cent unsecured bonds due 2027, with a nominal value of €100 per bond, to be issued at par, which are guaranteed by Spinola Development Co Ltd, pursuant to a prospectus dated May 29.

The company will be redeeming the €25 million 6.2 per cent bonds 2017-2020 on July 10 in accordance with the terms of the prospectus dated June 9, 2010. The net proceeds from the new bonds will be used to redeem the outstanding amount of maturing bonds remaining in issue on July 10, being the date of redemption of the maturing bonds.

In the sovereign debt market, turnover amounted to €11.1 million spread across 28 issues, of which gainers and losers tallied at 14. The 2.5 per cent MGS 2036 (I) was the most liquid issue, witnessing a turnover of €7.6 million, to close 0.5 per cent higher at €105.

This article, which was compiled by Jesmond Mizzi Financial Advisors Ltd, 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 Ltd at 67, Level 3, South Street, Valletta, or on Tel. 2122 4410 or e-mail info@jesmondmizzi.com.

www.jesmondmizzi.com

Sign up to our free newsletters

Get the best updates straight to your inbox:
Please select at least one mailing list.

You can unsubscribe at any time by clicking the link in the footer of our emails. We use Mailchimp as our marketing platform. By subscribing, you acknowledge that your information will be transferred to Mailchimp for processing.