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Amalgamated Investments to acquire Unicredit shares in BOV

The MSE Equity Total Return Index fully reversed the previous week’s 0.285 per cent gain, having declined by 0.597 per cent, to close at 8,529.407 points.

Activity was spread across 18 equities of which 10 decreased and two gained ground.

Turnover fell from €1.8 million to €850,067.

Bank of Valletta plc (BOV) announced last Wednesday that subject to regulatory approval, Amalgamated Investments SICAV plc has entered into a preliminary agreement with Unicredit to acquire the latter’s full shareholding in the bank.

Unicredit had earlier informed the bank that they had identified a buyer for their 10 per cent shareholding in BOV.

BOV shares closed the week unchanged at €1.77, having recovered from a weekly low of €1.75.

The banking equity was the most liquid having witnessed a turnover of 163,623 shares spread across 55 trades.

HSBC Bank Malta plc shares extended their recent losing streak, having registered a decline for the third consecutive week as a total of 24 transactions of 92,625 shares were concluded, to close 0.6 per cent lower at €1.70, having traded at a low of €1.68 and a weekly high of €1.74.

FIMBank plc shares closed unchanged at $0.55 as 31,129 shares changed ownership over four deals.

Likewise, Lombard Bank Malta plc shares traded flat during the week at €2.36 on one trade of 1,254 shares.

Trident Estates plc shares headed the list of fallers having slipped by 3.2 per cent as three trades of 2,550 shares were negotiated, closing €0.06 lower at €1.84.

In the same sector, Malita Investments plc shares edged 1.2 per cent over one transaction of 50,000 shares, to close at €0.83.

Malta Properties Company plc shares traded flat at €0.458 on one deal of 700 shares.

Meanwhile, MIDI plc shares increased by 1.7 per cent over three trades of 42,600 shares, closing at a two-month high of €0.356.

Local shopping mall owner Plaza Centres plc registered a 2 per cent increase in its share price as five transactions of 103,900 shares were active, closing at €1.04.

Tigne Mall plc shares closed unchanged at €0.95 as three deals of 13,028 shares were executed.

Last Wednesday, the company announced that the board meeting to approve the financial statements for 2017 and consider the declaration of a dividend has been postponed to April 27.

The insurance services operator Mapfre Middlesea plc recorded a 2.9 per cent slip in its share price as one deal of 714 shares was negotiated, to close €0.06 lower at €2.04.

International Hotel Investments plc shares slipped by a marginal 0.8 per cent as 35,154 shares changed hands over 10 transactions, closing at €0.615.

Last Monday, the hotel owner issued an update on the announcement issued in March regarding the management agreement by Corinthia Hotels Limited for the operation of a luxury property in Bucharest.

IHI reported that QP Management Limited, another wholly owned subsidiary of IHI, has also been engaged by the owners of the project to manage development in all technical respects, including project and cost management services.

The target completion date for the project has been set at December 2019. Last Friday, the company announced that the board of directors shall meet on April 27, 2018, to review the financial statements for the year ended December 31, 2017.

Malta International Airport plc shares added to the previous week’s 0.4 per cent loss, having declined by 0.4 per cent across 11 trades of 17,315 shares, to close at €4.86.

The telecommunications services provider GO plc registered no change in its €3.50 share price as 100 shares changed ownership over one deal.

Simonds Farsons Cisk plc shares registered their fourth consecutive loss, having sagged by €0.10 or 1.5 per cent as three transactions of 1,817 shares were executed, closing at a 16-month low of €6.75.

The food and beverage supplier announced that the board of directors will be meeting on May 16, 2018 to consider and approve the financial statements for year ended January 31, 2018 and to also consider the declaration of a final dividend, if any.

BOV equity was the most liquid having witnessed a turnover of 163,623 shares spread across 55 trades

The company’s Annual General Meeting (AGM) shall be held on June 25, 2018.

RS2 Software plc shares fell by 2.1 per cent across 11 trades of 34,707 shares, to close €0.03 lower at €1.40.

The I.T. services provider announced that the board is set to meet on April 25, 2018, in order to approve the audited financial statements for the year 2017, and also to consider the payment of a dividend to be recommended to the company’s AGM.

MaltaPost plc shares extended the previous week’s 0.5 per cent loss, having decreased by 2.7 per cent as one deal of 2,220 shares was executed, closing €0.05 lower at €1.80.

The retail and supermarkets owner PG plc registered a 0.8 per cent loss in its share price as six transactions of 21,765 shares were negotiated, to close at €1.30.

In the corporate bond market 39 issues were active of which 12 advanced and 13 fell. Turnover increased to €1.3 million from the previous week’s €1.2 million.

The 4.35% SD Finance plc Unsecured € 2027 was the best performer having appreciated by 1.3 per cent, as eight transactions worth €75,385 were executed, to close at €104.30.

The 5% GlobalCapital plc Unsecured € 2021 headed the list of fallers having stumbled by 2.7 per cent on one trade worth €1,940, closing at €97.

The 3.75% Virtu Finance plc Unsecured € 2027 was the most active issue, having witnessed a turnover of €134,093, to close 0.01 per cent lower at €102.99.

In the sovereign debt market turnover increased to €2.7 million from €2.5 million. Activity was spread over 22 issues of which 13 gained ground and eight declined.

The long-dated 3% MGS 2040 (I) headed the list of gainers having increased by 0.5 per cent as 11 trades worth €128,565 were negotiated, closing at €117.36.

Conversely, the 5.1% MGS 2022 (I) registered the highest loss of 0.5 per cent as one deal worth €8,439 was concluded, to close at €120.75.

Meanwhile, the 2.3% MGS 2029 (II) was the most liquid issue, having witnessed a turnover of €359,703, closing 0.4 per cent higher at €109.55.

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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