The MSE Equity Total Return Index recouped from the previous week’s 0.215 per cent loss, having advanced by 0.871 per cent, to close at 8,712.331 points. Turnover amounted to €2 million and was spread over 17 equities of which six fell and eight appreciated.
Medserv plc shares soared by €0.15 or 15 per cent as 20,000 shares changed ownership over five trades, to close at a 15-week high of €1.15. The rally followed the announcement made by the company late in June that it had 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. It is expected that this contract will be serviced through the Group’s internal resources. The company also stated that the award of this contract is another major step to broaden the Group’s oil and gas client portfolio.
FIMBank plc shares erased the previous week’s 2.9 per cent loss, having climbed 6.9 per cent across four transactions of 13,590 shares, closing $0.035 higher at $0.54.
Bank of Valletta plc shares registered a 0.9 per cent gain after three consecutive weekly declines. The banking equity was active on 47 deals of 119,751 shares and closed at €1.745.
HSBC Bank Malta plc (HSBC) shares closed unchanged at €1.84 as 15 trades of 75,096 shares were executed. HSBC announced that its board is scheduled to meet on August 6, 2018, to consider and approve the group’s and the bank’s interim accounts for the 6-month period ended June 30, 2018, and also to consider, and if thought appropriate, declare an interim dividend.
Lombard Bank Malta plc announced that its board will be meeting on August 23, 2018, to consider and approve the group’s and the bank’s interim financial statements for the first half of 2018. The equity was not active last week.
The investments and insurance services provider GlobalCapital plc registered a 3.5 per cent loss in its share price as two deals of 995 shares were negotiated, closing at a low of €0.28. The company held its Annual General Meeting on Wednesday, June 27, 2018 during which all resolutions on the agenda were approved. This includes the financial statements for the year ended December 31, 2017 the re-appointment of the company’s auditors, and the approval of the maximum annual aggregate emoluments payable annually to all directors. The shareholders also elected new directors in place of those retiring.
GO plc shares extended the previous week’s 2.3 per cent decline, having slipped by 1.2 per cent. The telecommunications services provider’s shares witnessed 18 transactions of 191,045 shares and closed €0.04 lower at €3.30.
Malta International Airport plc shares appreciated by €0.07 or 1.4 per cent across 17 trades of 84,090 shares, closing at €5.05.
MaltaPost plc shares fell by 2.4 per cent as 3,965 shares changed ownership over six deals, to close €0.04 lower at a 34-month low of €1.66.
Medserv plc shares soared by €0.15 or 15 per cent as 20,000 shares changed ownership
Simonds Farsons Cisk plc (SFC) shares oscillated between a four-month high of €7.20 and a weekly low of €6.95, to close €0.25 higher at €7.15. The food and beverage supplier’s shares recorded an increase for three consecutive weeks, having advanced by 3.6 per cent across 10 transactions of 24,213 shares last week.
SFC’s spin-off Trident Estates plc managed to erase the previous week’s 3.1 per cent loss, having appreciated by 3.2 per cent as five trades of 21,500 shares were concluded, closing €0.04 higher at €1.31.
Malita Investments plc shares extended their recent winning streak, having recorded an increase for the third consecutive week. The property management equity climbed 2.9 per cent across five deals of 47,567 shares, closing at €0.89. Meanwhile, MIDI plc shares advanced for the third week, having appreciated by 2.9 per cent as 14 trades of 261,229 shares were negotiated, closing at a record high of €0.49.
In the same sector, Malta Properties Company plc shares fell by 3.9 per cent as 312,310 shares changed hands over 14 transactions, to close at €0.50.
RS2 Software plc shares extended the previous week’s 0.8 per cent decrease, having declined by €0.04 or 3.2 per cent across 12 deals of 30,970 shares, closing at €1.20. Loqus Holdings plc shares sagged by 30 per cent as 63,844 shares were executed over four transactions, to close €0.03 lower at €0.07.
International Hotel Investments plc shares closed unchanged at €0.66 as two trades of 1,330 shares were struck.
PG plc shares closed unchanged at €1.33 despite having traded at a weekly low of €1.31. The retail and supermarkets owner’s shares witnessed two transactions of 14,850 shares. PG announced that extensive construction works for the extension of the Zara shopping complex located in Sliema shall commence this week. As a result, the complex shall be temporarily closed for a period of three months starting from tomorrow. The exact date of the reopening of the shopping complex will be communicated to the public at a later stage.
The shopping mall-owner Plaza Centres plc announced that its board is scheduled to meet on July 24, to consider and approve the interim financial statements for the first six months of 2018. The equity was not active last week.
In the corporate bond market activity was spread across 39 issues of which 17 fell and nine gained ground. Turnover increased to €1.9 million from the previous week’s €1.8 million. The 3.5% Bank of Valletta plc € Notes 2030 S2 T1 was the best performer having increased by 1.1 per cent over two deals worth €4,499, closing at €99.99, while the 5.1% 6PM Holdings plc Unsecured € 2025 registered the most significant loss of 6.6 per cent, after being absent from trading for four weeks. The 6PM bond was active on 11 trades worth €174,253 and closed at €92.95.
The 4.25% GAP Group plc Secured € 2023 was the most active issue having witnessed a turnover €397,299, closing 0.01 per cent lower at €102.99.
In the sovereign debt market turnover increased to €2.4 million from the previous week’s €2.1 million. Activity was spread over 23 issues of which 13 rose and 10 declined.
The 2.1% MGS 2039 (I) was the most liquid having been negotiated across 31 deals worth €730,784. The long-dated MGS registered the best performance having increased by 1.2 per cent, to close at €101.89.
Meanwhile, the 5.5% MGS 2023 (I) headed the list of fallers having slipped by 0.7 per cent as three trades worth €12,573 were executed, closing the week at €124.83.
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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