The MSE Equity Total Return Index recouped some of last week’s decline, having advanced by 0.2530 per cent to close the week at 8,655.699 points. All 24 equities were active during the week, seven of which gained ground, while nine headed south. A total turnover of €893,394 was generated across 135 transactions.

In the banking industry, Bank of Valletta plc shares shed a further loss of 0.29 per cent, to end the week at €1.745. A total turnover of €163,936 was generated over 29 deals.

On the other hand, HSBC Bank Malta plc shares fully recouped last week’s decline, to end the week back at the €1.83 price level as eight deals of 33,768 shares lifted the equity’s share price by 1.1 per cent.

In the same sector, FIMBank plc and Lombard Bank plc shares closed the week flat at $0.52 and €2.28, respectively. The former was active on thin volume as two transactions of 16,917 shares were struck; whereas Lombard shares were active over a single deal of 33,319 shares.

On Thursday, Mapfre Middlesea plc announced that the board is scheduled to meet on July 20, 2018 to consider and approve the interim financial statements for the half-year ended June 30, 2018. The equity managed to generate a total turnover of €8,247 over three deals, as the equity ended the week 2.1 per cent higher at €1.94.

International Hotel Investments plc shares slipped by 0.7 per cent on Monday maintaining its negative performance throughout the week to close at the €0.68 price level – turnover totalled to €26,451.

On the contrary, the telecommunications firm, GO plc closed 0.6 per cent higher at €3.42. A total turnover of €45,940 was generated over four transactions.

On Friday, Simonds Farsons Cisk plc announced that all ordinary resolutions have been approved during their Annual General Meeting which took place on Thursday.

Among these resolutions, a final net dividend of €2,600,000 paid out of tax exempt profits equivalent to a net dividend of €0.0866 per ordinary share as recommended by the directors, was approved. The equity traded four times on Thursday managing to push the price by 0.75 per cent, to close the week at €6.75 – reaching a nine-week high.

Retail conglomerate, PG plc gained ground by 1.5 per cent to close the week at €1.32 – reaching a four-week high. A total of six deals managed to generate a total turnover of €33,577.

In the oil and gas sector, Medserv plc lost almost two per cent of its value, as the equity closed the week at the €1.00 price level. A total of three transactions managed to generate a turnover of €8,680.

On Tuesday, RS2 Software plc announced that all ordinary resolutions have been approved (including the Special Business one) at the Annual General Meeting held on the same day. Among the resolutions, a net final dividend of €0.01c46 per Ordinary Share amounting to €2,504,303 as recommended by the Directors has been approved for payment on June 26, 2018. The equity continued with its positive run on Monday but cancelled this gain during Tuesday’s and Thursday’s sessions, to close the week unchanged at €1.25.

In the property sector, MIDI plc shares outperformed its peers, as the equity rallied by 6.7 per cent to close at €0.448. A total turnover of €113,444 was generated over 11 deals. On Thursday, the company announced that it has entered into preliminary discussions with Tumas Group Company Limited to explore the possibility of establishing a joint venture with respect to the development of Manoel Island.

MIDI plc shares outperformed peers, as the equity rallied by 6.7 per cent

The discussions are at a preliminary stage and may or may not result in a transaction. Any eventual agreement will be subject to the Company’s contractual obligations and any necessary regulatory and shareholder approvals in terms of law.

Throughout the process, the Company will communicate material updates, if any, in accordance with regulatory requirements. The Company’s forthcoming Annual General Meeting will be held June 27, 2018.

Malita Investments plc followed suit, as the equity reached a 19-month high mid-week at €0.87, to then reverse some of the gain and ending the week at €0.855. A total turnover of €43,541 was generated over nine deals.

On the other hand, its peer, Tigné Mall plc almost hit a 10-month low mid-week at €0.93, closing the week at €0.935 – a week-on-week decline of 1.6 per cent

In the same sector, Malta Properties Company plc and Main Street Complex plc shares also experience a decline in value, closing 3.7 per cent and 0.7 per cent lower at €0.52 and €0.675, respectively. Both equities were active on low volume.

Global Capital plc, Grand Harbour Marina plc, Santumas Shareholdings plc and Loqus Holdings plc shares traded on a slim turnover to close the week at €0.29, €0.75, €1.32, and €0.10 respectively.

Elsewhere, Trident Estates plc, Plaza Centres plc, Malta International Airport plc and Maltapost plc all closed flat at €1.31, €1.04, €4.98 and €1,70, respectively.

In the local sovereign debt market, a total of 23 issues were negotiated, of which the absolute majority amounting to 18 closed in positive territory, while three headed south. Longer dated sovereign bonds having a maturity greater than 10 years took the lion’s share of the gains, except for the 2.2% MGS 2035 (I) which registered a negative performance of 0.41 per cent, ending the week at €104.57.

On the corporate debt front, out of the 40 active issues, a total of eight headed north, while 17 closed lower. The 3.75% Premier Capital plc Unsecured € 2026 continued where it left off last week, as the bond price lost 1.2 per cent of its value, to close the week at €103.50.

In the prospects market 4.875% AgriHoldings plc Senior Secured € 2024 was the only active prospects issue during the week. It traded twice on a total volume of 33,700 nominal to close the week at €100.25.

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. Jesmond Mizzi Financial Advisors Limited is licensed to conduct investment services by the MFSA and is a Member Firm of the Malta Stock Exchange. 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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