The Malta Stock Exchange Equity Total Return Index last week partially erased the previous week’s 0.253 per cent increase, declining by 0.215 per cent to close the four-day trading week at 8,637.132 points, thereby ending the second quarter with a 0.466 per cent loss. Activity was spread across 19 equities, of which seven fell in value and six gained ground. Turnover fell to €851,077 from the previous week’s €893,394.

Trident Estates plc shares headed the list of fallers, sagging by €0.04, or 3.1 per cent, as one transaction of 1,400 shares was negotiated, closing at €1.27 – down by 33.2 per cent in Q2.

The company held its annual general meeting last Wednesday, during which all resolutions on the agenda were approved, including the financial statements for the year ended January 31, 2018, the appointment of the company’s auditors, and the approval of the aggregate amount of emoluments payable annually to all directors.

In the same sector, Midi plc shares added to the previous week’s 6.7 per cent gain, advancing by 6.3 per cent after the highest turnover for the week, worth €153,400, to close at a record high of €0.476. The equity has rallied by 37.6 per cent in Q2.

At Midi’s AGM last Wednesday, the audited financial statements for the financial year ended December 31, 2017, and the final net dividend of €0.007 per share were approved, together with the board of directors, the reappointment of the auditors, and the maximum annual aggregate remuneration for all directors.

Malta Properties Company plc shares traded unchanged at €0.52 after one deal of just 600 shares. The equity registered a 10.6 per cent increase in Q2.

Meanwhile, Malita Investments plc shares added to the previous week’s three per cent advance, appreciating by 1.2 per cent after five transactions of 101,847 shares to close at €0.865. The equity was up 8.1 per cent in the second quarter of 2018.

Fimbank plc shares fell by 2.9 per cent as three deals of 25,333 shares were executed, to close at a seven-week low of $0.505. The bank’s shares fell 16.5 per cent in value in the second quarter.

Bank of Valletta plc’s share price fell for the third consecutive week, decreasing by 0.9 per cent after 27 deals of 80,794 shares, to close at €1.73. It was down by 3.9 per cent in Q2.

HSBC Bank Malta plc shares extended the previous week’s 1.1 per cent gain, climbing by 0.6 per cent as 12 transactions of 83,438 shares were negotiated, to close at €1.84. The bank’s share price declined by 1.1 per cent during the second quarter.

Lombard Bank Malta plc shares traded unchanged at €2.28 after three deals of 11,799 shares. The banking equity ended the second quarter with a five per cent loss.

There was no change in the €1.94 share price of insurance and investment services provider Mapfre Middlesea plc despite 5,000 shares changing hands over one deal. The equity fell by 7.6 per cent in the second quarter.

International Hotel Investments plc shares extended their recent losing streak, recording a loss for the third consecutive week. The hotelier’s equity fell by 2.9 per cent as 127,283 shares changed ownership in 17 deals to close at €0.66. However, IHI’s shares rose by 6.5 per cent in Q2.

Telecommunications services provider GO plc erased the previous week’s 0.6 per cent increase in its share price, slipping by 2.3 per cent, or €0.08 lower, as seven transactions of 10,982 shares were negotiated. The equity’s price stood at €3.34 by the close of Thursday’s session, marking a five-month low and a 4.6 per cent decrease in Q2.

Midi plc shares added to the previous week’s 6.7 per cent gain, advancing by 6.3 per cent

Medserv plc shares closed unchanged at €1, as five deals of 27,220 shares were executed. The oil and gas logistics services provider closed the quarter with a 9.1 per cent loss.

Last Monday, Medserv announced that it has signed a second contract with a multinational oil and gas corporation to provide shore base logistics services for exploration activities taking place offshore Cyprus. To provide these services, the company will be setting up additional logistics facilities in the port of Limassol. This contract will be serviced through the group’s internal resources. The award of the contract is another major step to broaden the group’s oil and gas client portfolio.

Malta International Airport plc shares closed unchanged at €4.98, despite reaching a weekly low of €4.82. The equity was active in 10 deals of 6,360 shares. The local airport operator’s shares registered a 1.6 per cent advance in the second quarter of 2018.

RS2 Software plc shares fell by 0.8 per cent after three deals of 13,200 shares, closing the second quarter 13.3 per cent lower at €1.24.

PG plc shares stayed faithful to their ongoing winning streak, registering an increase for the fourth consecutive week. The retail conglomerate’s shares increased by 0.8 per cent to €1.33, as two transactions of 10,000 shares were negotiated, thereby reducing the decline in the equity’s share price in the quarter to 2.2 per cent.

Tigné Mall plc shares erased the previous week’s 1.6 per cent decline, appreciating by 1.6 per cent after six deals of 36,000 shares, to close at €0.95. The share price registered no change in the second quarter.

Last Monday, the company held its AGM, during which the audited financial statements for the year ended December 31, 2017, were approved, as was the final net dividend of €0.0128 per ordinary share as recommended by the directors. The auditors, the directors and the maximum annual aggregate directors’ emoluments were also approved during the meeting.

In the same sector, Main Street Complex plc shares extended the previous week’s 0.7 per cent loss, decreasing by a further 0.7 per cent. There was one deal of 500 shares in the equity, which closed at €0.67, registering a 3.1 per cent increase since its first day of trading in May.

Plaza Centres plc shares closed unchanged at €1.04, despite having reached a weekly high of €1.07, as two deals of 3,000 shares were concluded. The shopping mall owner’s shares recorded a 1.9 per cent decline in Q2.

Simonds Farsons Cisk plc shares added to the previous week’s 0.8 per cent increase, climbing by €0.15, or 2.2 per cent, after four deals of 2,781 shares, to close at €6.90. The food and beverage supplier registered a 0.7 per cent loss in the second quarter.

In the corporate bond market, 42 issues were active, of which 18 advanced and 11 fell. Turnover declined to €1.8 million from €1.9m.

The 4.5 per cent Hili Properties plc Unsecured € 2025 headed the list of gainers, appreciating by 2.4 per cent to close at 106.51, while the 5.5 per cent Pendergardens Developments plc Secured € 2020 Series I was the worst performer, declining by 2.7 per cent to close at €103.

In the sovereign debt market, turnover fell to €2.1 million from €3.7m. Activity was spread over 25 issues, of which 22 declined and three increased. The 2.1 per cent MGS 2039 (I) was the most liquid issue, witnessing a turnover of €454,832 to close 0.1 per cent lower at €100.69.

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

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