Bank of Valletta plc (BOV) announced that it has now received regulatory approval from the European Central Bank to increase its authorised share capital from €500 million to €1,000 million. The increase in the authorised share capital was approved by the bank’s shareholders at the Extraordinary General Meeting held on July 27, 2017, subject to regulatory approval.

The MSE Equity Total Return Index fully erased the previous week’s 0.149 per cent gain having declined by 0.391 per cent last week, to close at 8,914.649 points.

Turnover amounted to €3.5 million spread across 17 equities of which eight fell and four advanced.

BOV shares declined by 0.5 per cent as 85,946 shares changed ownership over 52 deals, closing at €2.09 – down from the week’s high of €2.11.

The other major retail bank HSBC Bank Malta plc registered no change in its share price of €1.92, having traded at a high of €1.94. The equity was active on 17 trades of 46,615 shares. Likewise, FIMBank plc – the trade finance bank recorded no change having traded at $0.75 per share on one deal of 1,000 shares.

Simonds Farsons Cisk plc (SFC) shares rose by €0.05 or 0.6 per cent, closing at an all-time high of €8.55. The food and beverage equity witnessed three transactions of 1,688 shares.

Malta International Airport plc shares increased by an additional €0.04 or 1 per cent after having registered a 0.2 per cent gain the previous week, to close at €4.25.

The local airport operator’s shares were executed across 35 deals of 352,578 shares.

This followed the previous week announcement that traffic movement in August totalled to 693,537 passengers, representing a double-digit growth of 14.8 per cent.

Medserv plc shares headed the list of fallers having dipped by 10.1 per cent.

The oil and logistics equity was active on eight trades of 47,700 shares, closing €0.135 lower at €1.20 – a one-month low.

The supermarkets operator PG plc registered a 0.6 per cent increase in its share price.

The equity reached a record high of €1.41 during last week’s trading, however closed at €1.409, having witnessed a total of 11 deals of 41,335 shares.

Negative sentiment prevailed in the property management sector. Malita Investments plc shares edged 0.1 per cent over five trades of 18,103 shares, to close at €0.749.

Tigne Mall plc shares decreased by 1.5 per cent across the highest turnover of 1.3 million shares, closing at €0.96.

Malta Properties Company plc shares registered a decline of 2.1 per cent after having registered three weeks of gains.

The equity was negotiated across five transactions of 20,200 shares, to close at €0.519.

In the same sector, Plaza Centres plc shares traded flat at €1.05 on two trades of 7,500 shares.  Meanwhile, MIDI plc shares closed unchanged at €0.31 as eight deals of 356,100 shares were struck.

RS2 Software plc shares added on to the previous week’s loss of 0.3 per cent having slipped by 2 per cent over 14 trades of 70,733 shares, to close €0.035 lower at €1.74.

International Hotel Investments plc shares partially erased the previous week’s loss of 1.5 per cent, having advanced by 1.3 per cent as 12 trades of 94,500 shares were executed, closing at €0.609.

The telecommunications provider GO plc registered a 1.4 per cent loss in its share price as 17,050 shares changed hands over five transactions, to close at €3.55.

MaltaPost plc shares declined by €0.08 or 4 per cent across two deals of 4,099 shares, closing at a 16-week low of €1.90.

The insurance provider Mapfre Middlesea plc registered no change in its share price, having closed at €1.88. The equity witnessed five trades of 7,400 shares.

In the corporate bond market activity was spread over 29 issues of which gainers and losers tallied at 12, as turnover amounted to €994,858.

The 4.8% Bank of Valletta Plc Subordinated € 2020 was the best performer having appreciated by 2.4 per cent, closing at €105, while the 4.9% Gasan Finance € 2019-2021 headed the list of fallers having slipped by 2.6 per cent, to close at €102.02.

Last Wednesday, SFC announced the basis of acceptance for the €20 million 3.5% Unsecured Bonds 2027.

The company received a total of 3,215 applications for an aggregate value of €49.3m from holders of the maturing bonds.

Such holders were given a guaranteed allocation on subscription to the new SFC bonds by surrendering their respective maturing bonds. Furthermore, holders of the maturing bonds were given preference for allocation to any additional new SFC bonds applied for.

The company will be allocating 16.7 per cent of the remaining balance of all such applications.

Refunds of unallocated monies, where applicable, will be made on September 14, 2017.

The new SFC bonds are expected to be admitted to listing on the official list of the MSE tomorrow and trading is expected to commence on Tuesday.

In the sovereign debt market turnover totalled €4 million.

A total of 21 issues were active, of which 16 fell and three gained ground. The 7.8% MGS 2018 was the most liquid having witnessed a turnover of €1.4 million, closing 0.1 per cent lower at €106.48.

During a public pre-budget consultation meeting the Minister of Finance, Prof. Edward Scicluna announced that pensions who missed out on the 62+ Government Savings Bond will have a second chance from this scheme as a further €30million will be offered. This was once well received by pensioners.

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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