The Malta Stock Exchange (MSE) index last week fully erased the previous week’s 0.067 per cent loss by gaining 0.205 per cent to close at 4,730.203 points. Activity was spread across 18 equities, of which eight appreciated, six fell and four closed unchanged as turnover totalled €982,042.

Malta Properties Company plc (MPC) shares registered the week’s best performance, advancing by 3.5 per cent as five deals of 9,733 shares were struck, to close at €0.528.

Conversely, Tigné Mall plc shares registered the highest loss, declining by two per cent as six deals of 5,700 shares were negotiated, closing at €0.96. Last Thursday, the company announc­ed that its board of directors will meet on August 10 to consider and approve the condensed interim financial statements for the half-year ending June 30, 2017, and to consider the declaration of interim dividend.

Malita Investments plc shares fell by 1.4 per cent after seven deals of 204,000 shares, to close at €0.72. On the other hand, Midi plc shares edged 1.3 per cent higher as four transactions of 88,000 shares were executed, to close at €0.314.

Meanwhile, last Wednesday, the board of directors of Plaza Centres plc approved the group’s unaudited financial statements for the six months ended June 30, 2017. The group reported a pre-tax profit of €798,860 during the period, a 2.5 per cent fall when compared to the same period last year. This was mainly due to the increase in finance costs attributed to the loan and bond interest to finance the investment in Tigné Place.

Meanwhile, net profit rose by 16.4 per cent as the company is benefitting from better tax regime. Moreover, earnings per share (EPS) rose from €0.018 in the first six months of 2016 to €0.021 in the same period this year. In line with the group’s policy, the board of directors does not propose the payment of an interim dividend. The equity was not active last week.

Fimbank plc shares were the only positive performers in the banking sector, recouping by two per cent after three deals of 18,777 shares, to close at $0.76. On the other hand, Lombard Bank Malta plc shares declined by 1.1 per cent over a sole transaction of 2,000 shares, closing at €2.34.

HSBC Bank Malta plc shares fell by 0.9 per cent after 18 deals of 52,405 shares, closing at €2.05, after having traded at €2.02 last Thursday, a six-week low. Similarly, Bank of Valletta plc (BOV) shares slipped by 0.7 per cent as 92,232 shares changed ownership across 51 deals, to close at €2.16.

The local airport operator Malta International Airport plc (MIA) registered a 1.2 per cent decline in its share price. The equity was active on 24 transactions of 60,891 shares and closed €0.05 lower at €4.10.

International Hotel Investments plc (IHI) shares increased by 3.3 per cent after 11 deals of 63,314 shares, closing at €0.62. Likewise, PG plc shares rose by 3.1 per cent as 19,500 shares changed hands in 11 deals, to close €0.04 higher at €1.34 – its highest traded price since its listing earlier this year.

Go plc shares advanced by a further 0.8 per cent as six transactions of 21,824 shares were struck, closing at €3.599, just shy of its 14-month high of €3.60 reached last Tuesday. On a similar note, RS2 Software plc shares appreciated by 0.5 per cent after 17 deals of 31,733 shares to close at €1.85.

Santumas Shareholdings plc shares appreciated by a further 0.9 per cent after three deals of 6,000 shares, to close at €2.149. The equity has registered an impressive 70.6 per cent rally year-to-date, reaching an all-time high.

Mapfre Middlesea plc shares closed the week unchanged at €1.87. The equity witnessed four deals of 6,188 shares

Similarly, Grand Harbour Marina plc (GHM) shares traded unchanged at €0.895 in two deals of 1,000 shares.

Global Capital plc shares remained unchanged at €0.34 as six deals of 3,000 shares were concluded. Likewise, Medserv plc shares traded flat at €1.275 as a sole transaction of 1,151 shares was executed.

In the corporate bond market 43 issues were active, of which 11 advanced, 15 slipped and 17 closed unchanged as turnover amounted to €1.6 million.

The six per cent Medserv plc secured and guaranteed € notes 2020-2023 S1 T1 3 was the worst performer, declining by 2.6 per cent to close at €107, while the six per cent Simonds Farsons Cisk plc 2017-2020 headed the list of gainers, increasing by 1.9 per cent to close at €105.

Last Wednesday, Simonds Farsons Cisk plc (SFC) announced that the board has resolved to early-redeem the six per cent SFC 2017-2020 on September 13, 2017, ahead of suspension of trading on July 31.

Furthermore, the company announced that it has resolved that an application be submitted to the Malta Financial Services Authority listing authority requesting the admissibility to listing of €20 million unsecured bonds 2027, and for an application to be submitted to the MSE for the new bonds to be admitted to the official list of the exchange.

Meanwhile, on Prospects, a single deal of 5,000 nominal in Orion Finance 4.75 per cent 2027 unsecured saw the price of the bond close at €101.01.

In the sovereign debt market turnover totalled €12 million spread across 22 issues of which three slipped, 18 rallied and one closed unchanged. The 4.3 per cent MGS 2022 (II) was the most liquid issue, witnessing a turnover of €6.1 million, to close 0.02 per cent lower at €119.41.

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, oron Tel. 2122 4410, or e-mail info@jesmondmizzi.com.

www.jesmondmizzi.com

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