The MSE index maintained its recent positive performance as the index closed 0.317 per cent higher at 4,681.516 points. A total of 16 issues were active during the week, of which seven gained ground, four closed lower, while the remaining five closed flat. Total turnover increased marginally from last week’s €1.71million to €1.77 million.

RS2 Software plc registered the strongest performance for the week as the equity spiked by 5.9 per cent to close at €1.62 – reaching a 10 week high. The equity registered the lion’s share of total turnover as it accounted for 34.2 per cent. Last Tuesday, the Annual General Meeting of RS2 Software plc was held wherein all resolutions were approved.

Grand Harbour Marina plc followed suit as a total of 9,308 shares spread over 12 transactions saw the price of the equity reach a three month high at €0.896. On Monday, the company announced that it has submitted an application to the Listing Authority of the Malta Financial Services Authority requesting the admissibility to listing of €15,000,000 Unsecured Bonds redeemable in 2027. Application has also been made for the new bonds to be listed on the Malta Stock Exchange.

Furthermore, the Company announces that the Board of Directors has resolved to redeem all the outstanding 7% Grand Harbour Marina p.l.c. 2017-2020 in full on August 22, 2017. Subject to regulatory approval, the intention of the Company is that a fixed amount of the New Bonds is reserved to holders of the existing bonds as at record date who will be granted the opportunity to surrender and cancel all or part of their existing bonds in exchange for New Bonds. The Company also intends to reserve a fixed amount of the new bonds for the shareholders of the Company holding shares as at record date. Meanwhile, on Tuesday the Annual General Meeting was held, where all the resolutions were approved.

The share price of Bank of Valletta plc reached a five week high at €2.199 – as a total of 43 transactions generated a total turnover of €284,272. On the other hand, HSBC Bank Malta plc closed in negative territory as its price declined by 0.5 per cent to close at €2.08 – as a total of 105,838 shares were exchanged over 20 trades.

In the same sector, four deals amounting to 20,255 shares in FIMBank plc kept the equity’s price unchanged at the $0.77 price level.

Likewise, Lombard Bank plc shares traded on a slim volume, over a single trade to close unaltered at €2.30.

Yesterday, Lombard Bank plc announced that the Board of Directors will be meeting on Thursday August, 24 to consider and approve the Group’s and the Bank’s interim financial statements for the half-year ending June 30, 2017.

On Monday, Mapfre Middlesea plc, announced that the Board of Directors is scheduled to meet on Friday July 21, 2017 to consider and approve the interim financial statements for the half-year ended June 30, 2017.

The equity hit a twenty-three month low at €1.90, as the equity registered a decrease of 2.6 per cent as a total turnover of €19,327 was spread over eight transactions.

On a similar note, five trades amounting to 13,800 shares in Plaza Centres plc on Wednesday saw the price of the equity hit a 16 month-low at €1.00 – registering the weakest performance among its property peers having declined by 3.9 per cent.

On Monday, the company announced that the Board of Directors are scheduled to meet on Wednesday July 19, 2017 to consider and approve the interim financial statements for the half-year ended June 30, 2017.

On the other hand, Malita Investments plc registered the strongest performance among its peers as the equity advanced by 0.7 per cent to reach a fresh three-week high at €0.74.

Elsewhere, property counterparts, Malta Property Company plc, Tigne Mall plc and MIDI plc closed unchanged at €0.52, €1.02 and €0.31 respectively.

On Tuesday, MIDI plc held its Annual General Meeting of MIDI plc - all five Ordinary Resolutions, as well as three Extraordinary Resolutions (Special Business) on the Agenda, were approved.

Malta International Airport plc shares registered another positive week having added another 0.5 per cent to its shares price closing at €4.15 – as 31 transactions generated a total turnover of €285,699.  On the other hand, GO plc shares shaved 0.4 per cent of the equity’s price to close at €3.455.

On a more positive note, PG plc shares reached a four week high as the equity closed 0.7 per cent higher at €1.299 – as a total turnover of €78,374 was generated over nine deals.

Similarly, Loqus Holdings plc shares appreciated by 2.90 per cent over a single trade of 1,212 shares to close at €0.175.

In the sovereign debt front, a total of 24 issues were active during the week of which 19 gained ground, while five headed south. Longer dated bonds continued their positive stance, as gains ranged from 0.15 to 1.07 per cent. The 5.1% MGS 2029 (I) was the only exception as the issue closed 0.3 per cent lower at €141.24.

In the corporate debt market, a total of 31 issues were active of which 14 headed north, seven lost ground, while ten closed flat.

On Thursday, Tumas Investments plc announced that the issue of €25, 000, 0000 3.75% Unsecured Bonds 2027 guaranteed by Spinola Development Company Limited had been oversubscribed. Consequently, the Intermediaries’ Offer scheduled for June 26, 2017 will not take place.

In the Prospects Market, Anchovy Studios plc 5.5% 2027 Unsecured Bond and Orion Finance plc 4.75% 2027 Unsecured Bond were admitted to Prospects, on Friday June 16 and Monday June 19 respectively.  Trading in both cases commenced during the week.

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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