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MSE Index down marginally

The MSE Equity Total Return Index fell minimally by 0.126 per cent following the previous week’s 1.648 per cent gain, having closed at 8,642.818 points. Turnover increased to €1.4 million from the previous week’s €1 million, and was spread across 18 equities, of which nine lost ground and seven advanced.

Bank of Valletta plc (BOV) shares oscillated between a weekly low of €1.45 and a high of €1.515, but ultimately closed at €1.48, having recovered by 1.4 per cent last Friday.

The banking equity extended the previous week’s 1 per cent loss, having declined by a further 1 per cent as 363,512 shares changed ownership across 66 transactions.

Last Wednesday, BOV announced that the Arbiter for Financial Services delivered his decision with regards to the La Valette Multi-Manager Property Fund cases.

At this stage, the bank is reviewing the details of the decision, and the board of directors will be discussing the matter and deciding on the appropriate course of action to take in this respect.

FIMBank plc shares partially erased the previous week’s 5.4 per cent rally, having slipped by 1.7 per cent, as three deals of 44,198 shares were negotiated, closing at $0.58.

HSBC Bank Malta plc (HSBC) shares extended the previous week’s 4.1 per cent gain, having advanced by 1.1 per cent over 20 trades of 63,320 shares, to close at a two-week high of €1.80.

HSBC will distribute an interim dividend of €0.026 on Tuesday to shareholders who were on the bank’s register as at August 17, 2018.

The investments and insurance services provider GlobalCapital plc, registered a 10.5 per cent decline in its share price.

The equity was active on one transaction of 460 shares, and closed at a record low of €0.256.

In the same sector, Mapfre Middlesea plc shares partially reversed the previous week’s 2.2 per cent loss, having increased by 1.7 per cent over four trades of 23,098 shares, closing €0.03 higher at €1.85.

GO plc shares extended the previous week’s 1.2 per cent increase, having appreciated by 2.9 per cent.

The telecommunications services provider’s shares were negotiated across 21 deals of 85,969 shares, and closed €0.10 higher at €3.54 – a five-month high.

Malta International Airport plc shares added to the previous week’s 4.5 per cent increase, having advanced by 1.7 per cent, as 19 trades of 21,703 shares were executed, to close at a record high of €5.90 – registering a 25.5 per cent rally as at year-to-date.

The local airport operator distributed a net dividend of €0.03 per share last Friday, to all shareholders on the register as at August 22, 2018.

Earlier in the week, Ryanair announced 10 new summer routes from Malta as of next summer.

Last Tuesday, Tigne Mall plc and MIDI plc announced that they have entered into a promise of sale and purchase agreement, whereby the latter shall sell and transfer to Tigne Mall plc the right of use relating to the Garage complex known as the T1 Car Park.

The area comprises 132 car parking spaces over three underground levels, thereby increasing the number of car parking spaces owned by Tigne Mall plc from 223 to 355.

The emphyteutical grant signed between MIDI plc and the Government of Malta back in June 2000, was valid for a period of 99 years, and thus, Tigne Mall plc, has now acquired the right of use for the remaining period of the agreement.

The total consideration related to this agreement is €4.6 million. The promise of sale agreement shall remain valid up to November 30, 2018.

MIDI plc shares declined by 3.5 per cent as 10,000 shares changed hands over three deals, to close at €0.55.

Meanwhile, Tigne Mall plc shares advanced by €0.05 or 5.3 per cent as three trades of 11,000 shares were concluded, closing at a three-month high of €1.

Malta Properties Company plc shares partially erased the previous week’s 4.5 per cent increase, having slipped by 1 per cent, as six deals of 35,058 shares were negotiated, to close at €0.505.

MIDI plc shares declined by 3.5 per cent as 10,000 shares changed hands over three deals

Trident Estates plc shares added to the previous week’s 0.8 per cent increase, having advanced by a further 0.8 per cent. The equity witnessed three transactions of 5,035 shares and closed at €1.34.

The board of the company is scheduled to meet on September 26, 2018, to consider and approve the company’s unaudited financial statements for the six months ended July 31, 2018.

In the same sector, Malita Investments plc shares traded flat at €0.87 on one trade of 4,045 shares.

Simonds Farsons Cisk plc shares erased the previous week’s 4.1 per cent increase, having stumbled by 5.9 per cent or €0.45 over two trades of 1,300 shares, closing at a two-month low of €7.20 – recording a 15.5 per cent loss as at year-to-date.

The board of directors of the food and beverage supplier is scheduled to meet on Wednesday, to consider and approve the interim financial statements for the six-month period ending July 31, 2018.

The board will also consider the declaration of an interim dividend to shareholders on the register as at September 26, 2018.

In the IT sector, Loqus Holdings plc shares closed in the red for the fourth consecutive week, having declined by 2.3 per cent, as one deal of 4,700 shares was concluded, closing at €0.085.

RS2 Software plc shares reversed the previous week’s 0.8 per cent gain, having declined by 1.7 per cent, as six trades of 11,880 shares were concluded, to close at €1.18 – down by 23.4 per cent as at year-to-date.

MaltaPost plc shares appreciated by €0.04 or 2.5 per cent across two transactions of 3,000 shares and closed at a two-week high of €1.65.

The retail and supermarkets owner PG plc, registered a 2.2 per cent loss in its share price, as 14 trades of 164,849 shares were negotiated, closing €0.03 lower at €1.35.

International Hotel Investments plc shares traded unchanged at €0.63 on one trade of 1,000 shares.

In the corporate bond market, turnover amounted to €1.5 million, compared to the previous week’s €3 million.

Activity was spread across 39 issues, of which 16 appreciated and nine fell.

The 6% Medserv plc Sec. & Grntd € Notes 2020-2023 S1 T1 3 was the best performer having advanced by 2.7 per cent, closing at €105, while the 5% Hal Mann Vella Group plc Secured Bonds € 2024 headed the list of fallers, having slipped by 3.9 per cent, to close at €104.25.

In the sovereign debt market, 18 issues were active, of which three advanced and 15 declined.

Turnover declined from €3.6 million to €2.7 million. The 2.1% MGS 2039 (I) was the most liquid issue, having witnessed a turnover of €736,588, to close 0.8 per cent lower at €100.15.

This article, 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.

http://www.jesmondmizzi.com/

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