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Local equity trading gains momentum

The Malta Stock Exchange (MSE) index last week registered a minor gain of 0.054 per cent, to close at 4,666.73 points, adding to the previous week’s gain of 0.76 per cent.

Activity was spread across 21 equities, of which five closed unchanged, eight gained ground and another eight fell. Turnover increased from just under €1 million to €1.7m, spread over the five trading sessions.

Bank of Valletta plc (BOV) shares partially recouped the previous week’s losses, edging 0.2 per cent higher after 63 deals of 186,604 shares to close at €2.185.

Meanwhile, HSBC Bank Malta plc shares stayed faithful to their recent winning streak by registering an increase for the third consecutive week, to close at €2.09. The banking equity was negotiated in 34 deals of 119,769 shares.

Last Monday, HSBC an­nounced that the board of directors is scheduled to meet on July 31 to consider and approve the group’s and the bank’s interim accounts for the half-year ending June 30, 2017, and, consider and declare an interim dividend, should this be thought appropriate.

On a negative note, Fimbank plc shares declined by 0.7 per cent as five transactions of 45,821 shares were struck, closing at $0.77.

Meanwhile, Lombard Bank Malta plc shares closed un­changed at €2.30 as three deals of 14,026 shares were struck.

Mapfre Middlesea plc shares stumbled by €0.03, or 1.5 per cent, after a sole transaction of a mere 839 shares, to close at a 23-month low of €1.95.

Conversely, Santumas Shareholdings plc shares headed the list of gainers, rallying by €0.107, or 6.1 per cent, after two deals of 4,420 shares, closing at an all-time high of €1.857, and registering a significant 47.4 per cent rally year to date.

Simonds Farsons Cisk plc (SFC) shares returned to their all-time high of €7.60 after advancing by 0.7 per cent as 8,892 shares changed ownership in nine deals.

Malta International Airport plc (MIA) shares rose by €0.04, or one per cent, after 22 deals of 25,770 shares, closing at €4.13.

HSBC Bank Malta plc shares stayed faithful to their recent winning streak by registering an increase for the third week

On another positive note, PG plc shares increased by 0.5 per cent after 23 deals of 207,324 shares, to close at €1.29.

In the property management sector, Malta Properties Company plc shares were the only positive performers, appreciating by 3.6 per cent as 20,316 shares changed hands in five deals, to close at €0.52.

Midi plc shares declined by 1.6 per cent as three deals of 10,500 shares were executed, to close at €0.31.

Similarly, Malita Investments plc shares slid by 0.7 per cent after 13 transactions of 182,330 shares, closing at €0.735.

Plaza Centres plc shares closed unchanged at €1.04 after three deals of 55,950 shares.

Likewise, Tigné Mall plc shares traded flat at €1.02 as a single deal of 1,200 shares were negotiated.

International Hotel Investments plc (IHI) shares remained unchanged at €0.62 as 62,315 shares were active in nine transactions. Last Tuesday, IHI plc held its 17th annual general meeting, in which shareholders approved all resolutions on the agenda.

Telecommunications provider GO plc registered a decline in its share price for the third consecutive week, slipping by 0.6 per cent to close at €3.47. The equity was negotiated in seven deals of 6,000 shares.

Grand Harbour Marina plc (GHM) shares were the week’s worst performers, declining by three per cent as a sole deal of 1,000 shares was executed.

In the IT sector, RS2 Software plc shares partially erased the previous week’s gain when it sagged by 1.3 per cent after 13 transactions of 67,500 shares, closing at €1.53.

Meanwhile, Loqus Holdings plc shares traded unchanged at €0.17 after one deal of 1,000 shares.

Medserv plc shares managed to recover by an additional 1.7 per cent as 9,500 shares changed ownership in two transactions, to close at €1.22.

On the other hand, Maltapost plc shares fell by one per cent after two deals of 80,000 shares, closing at €2.03.

In the corporate bond market, turnover amounted to just under €1.4 million spread across 39 issues, of which 11 decreased, 16 advanced and 12 closed un­changed. The seven per cent GHM plc €  2017-2020 headed the list of gainers, edging 1.8 per cent higher to close at €101.91, while the 3.9 per cent Plaza Centres plc unsecured € 2026 was the worst performer, declining by 1.6 per cent to close at €101.15.

In the sovereign debt market, the positive trend continued as out of the 24 active issues, 18 rallied and six slipped. Once again the long-dated bonds gained most ground despite a minor correction last Friday. Turnover totalled €10.3 million compared to €3.4m traded the previous week. The 2.1 per cent MGS 2039 (I) r was the most active issue, witnessing a turnover of €3.4 million to close 0.6 per cent higher at €98.25.

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

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