The MSE Equity Total Return Index registered a decline for the fifth consecutive week, having slipped by 0.962 per cent, after the previous week’s 1.361 per cent decline, closing at 8,601.699 points. Turnover fell from €1.7 million to €1.2 million and was spread across 15 equities of which eight decreased and two advanced.

Plaza Centres plc shares registered the highest loss having declined by 9.7 per cent as four trades of 19,450 shares were struck last Monday.

The property management equity closed €0.107 lower at €1.002 – a 19-week low.

In the same sector, MIDI plc shares fell by 1.5 per cent, after registering three weeks of consecutive gains. The equity witnessed five transactions of 248,500 shares, closing at €0.325.

Malta Properties Company plc shares edged 0.6 per cent as 3,200 shares changed ownership across two deals, to close at €0.507 – registering a 14.1 per cent drop year-to-date.

Meanwhile, Malita Investments plc closed unchanged at €0.751 as four trades of 16,100 shares were negotiated.

FIMBank plc shares were the only movers in the banking sector having slipped by 3.2 per cent across eight deals of 149,088 shares, closing at $0.60 – a 20-month low. The trade finance bank’s share price has recorded a substantial 32.6 per cent drop year-to-date.

Bank of Valletta plc (BOV) shares closed unchanged at its weekly high of €1.80, despite trading at a weekly low of €1.75.

The banking equity witnessed the highest turnover for the week, as 293,545 shares changed hands over 86 trade.

Eligible BOV shareholders are presently considering whether or not to participate in the bank’s Rights Issue. Bank of Valletta p.l.c. is offering 105,000,000 new ordinary shares to its eligible shareholders on the basis of a ratio of one new ordinary share for every four ordinary shares held at an offer price of €1.43 per new ordinary share.

Existing shareholders may assign part or all of their rights to third parties or may opt to apply for additional shares.

Non-eligible investors can apply for these shares via an intermediaries offer.

HSBC Bank Malta plc shares oscillated between a weekly high of €1.875 and a low of €1.85, to ultimately close unchanged at €1.86.

The bank’s shares were active on 22 deals of 77,929 shares.

Lombard Bank Malta plc shares registered no change in its share price of €2.20 as 33,682 shares were executed over five transactions.

Simonds Farsons Cisk plc (SFC) shares stumbled by an additional 7.8 per cent, after the previous week’s 1.6 per cent drop.

The food and beverage provider’s shares were executed across a mere three trades of 1,146 shares, to close €0.74 lower at €8.76, following the previous week’s announcement that the Board of the Planning Authority voted against the recommendation of the Planning Directorate for the approval of a permit for the creation of a business park along Mdina Road, Mrieħel.

As a result the plan to spin-off the company’s shareholding in Trident Estates plc and the subsequent listing of Trident on the official list of the MSE has been delayed and accordingly, Trident has requested the Listing Authority of the MFSA to defer consideration of a prospectus submitted in this regard.

Despite last week’s drop, SFC shares have registered a 25 per cent rally as at year-to-date.

Malta International Airport plc shares fell for the third consecutive week, having slipped by €0.07 or 1.5 per cent over six deals of 6,494 shares, closing at €4.62 –  recording a 14.1 per cent in 2017.

GO plc shares recouped by 2 per cent, after having decreased by 0.6 per cent during the previous week trading.

The telecommunications provider’s shares were active on 17 transactions of 37,900 shares, to close €0.07 higher at €3.60 – thus registering a 10.1 per cent increase year-to-date.

The oil and gas logistics services provider Medserv plc witnessed a marginal 0.4 per cent increase in its share price as 12,040 shares changed ownership across four deals, closing at €1.265 - marking a 20.9 per cent drop as at year-to-date.

International Hotel Investments plc shares fell by 1.6 per cent as 33,967 shares changed hands over seven trades, to close at €0.62.

RS2 Software plc shares fell by a further 1.3%, following the previous week’s decline of 4.8 per cent. The I.T. equity was executed across 12 deals of 46,484 shares, closing at €1.55.

PG plc shares traded flat at €1.48 on three transactions of 14,150 shares. The supermarket and retail owner’s shares are up by 48 per cent from their Initial Public Offering (IPO) last May.

In the corporate bond market turnover amounted to €1.4 million. Activity was spread across 38 issues of which 11 increased and 17 declined.

The 5.75 per cent International Hotels Investment plc Unsecured € 2025 was the best performer having recouped by 1.86 per cent, closing at €107.97, while the 4.25% BOV € Notes 2019 Series 2 Tranche 1 headed the list of fallers having slipped by 3.5 per cent, to close at €100.11.

In the sovereign debt market a total of 24 issues were active of which 19 fell and five rose as turnover fell to €2 million from the previous week’s €5.5 million.

The 2.1% MGS 2039 (I) was the most liquid issue having witnessed a turnover of €249,832, closing 1.2 per cent higher at €101.50.

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.

http://www.jesmondmizzi.com/

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