For the second consecutive week, the MSE Equity Total Return Index remained relatively unchanged, as it closed a mere 0.067 per cent lower at 8,917.034 points. Turnover levels stood at €1.18 million, as activity was spread across 15 equities, of which four increased and four declined.
Medserv plc was the week’s top performer, as 13 trades worth a total of €90,096.20 yielded a 4.35 per cent price surge, to close at €1.20 – the highest closing price in the past nine months.
This performance came as a result of a company announcement issued on Tuesday, in which the company declared that it has secured long term contracts with significant business activity across all its operating segments. Medserv is also well positioned to secure new contracts, some of which are expected to materialise in the first half of 2019.
This enhances the forecast earnings for the coming years.
In the banking industry, Bank of Valletta plc closed unchanged at €1.33, despite being the most liquid issue.
A total of 40 transactions took place, worth €288,000 in total.
Its peers; HSBC Bank Malta plc and FIMBank plc also closed unchanged at €1.80 and $0.79 respectively.
The former traded on 10 occasions, and registered a turnover of €128,000, while the latter saw 201,860 shares changing hands over seven transactions.
Malta Properties Company plc and International Hotel Investments plc (IHI) both fared well this week.
The property company’s share price closed 1.79 per cent in the green, at €0.57, as it traded on six occasions, for a total turnover of €2,685, while IHI closed 1.69 per cent up at €0.60.
This was achieved over four deals, worth a total of €14,556.
Property companies; Malita Investments plc and Plaza Centres plc were both active but closed unchanged at €0.87 and €1.02 respectively.
The former traded only once on thin volume while the latter traded six times, in which a total of 39,295 shares exchanged hands.
On Thursday, Tigne Mall plc announced that further to the announcement made on September 11 relating to the promise of sale and purchase agreement dated September 10 with MIDI plc.
In terms of the said promise of sale and purchase agreement, MIDI promised to sell and transfer to the company, which promised to acquire the temporary utile dominium of the remaining period of the original period of 99 years, which commenced on the 15th day of June of the year two thousand (15/6/2000), by virtue of the emphyteutic grant signed between MIDI and the Government of Malta, relating to the Garage Complex, known as the T1 Car Park, which comprises 132 car parking spaces over three underground levels.
The company hereby announces that on November 28 it entered into an agreement with MIDI to extend the promise of sale and purchase agreement in respect of the Property to December 15.
The equities were both inactive last week.
On Wednesday, Loqus Holdings plc announced that the company’s Annual General Meeting shall be held on January 29, 2019.
Malta International Airport plc (MIA) and Grand Harbour Marina plc were both active but closed unchanged
Shareholders on the Company’s Register as at close of business on December 30, 2018 will receive notice of the Annual General Meeting together with a copy of the Annual Report and Financial Statements. On a separate note, the company registered the worst weekly performance on the MSE index, as a slump of 17.65 per cent was registered, to close at €0.07.
This performance came as a result of six deals, worth a total of €18,286.
Retail conglomerate, PG plc, announced on Tuesday that the board of directors will be convening on December 3 to consider, and if thought fit, distribute an interim dividend to those members appearing on the Company’s Register as at the close of business on November 30.
This interim dividend will be paid on December 10. The board will also be convening on December 18 to approve the Interim Unaudited Financial Statements for the six-month financial period from May 1 to October 31.
The board also announced that the Zara Shopping Complex located at the Alhambra Centre in Sliema, opened its doors for business on November 28, following months of extensive construction works that were carried out for the enhancement and extension of this shopping complex.
Despite this, the equity registered a 0.73 per cent decline, to close the week at €1.36. Turnover was slightly less than €60,000, spread over 11 transactions.
In the telecommunications sector, GO plc lost more than what it gained last week, as the price declined by 2.50 per cent, to close at €3.90. A total of 11 trades of 45,975 shares were recorded.
RS2 Software plc generated a sizeable turnover of €60,685 over nine trades. The result was a 1.71 per cent loss in value – down to €1.15.
Insurance company, Mapfre Middlesea plc, generated a turnover of €19,950 spread over three trades. These yielded a 1.02 per cent increase in price, closing at €1.98.
Elsewhere, Malta International Airport plc (MIA) and Grand Harbour Marina plc were both active but closed unchanged.
Despite the identical end result, these equities traded on contrasting turnover levels. MIA featured in 13 transactions, worth a total of €136,630 while the marina company traded once on mere volume.
Yields of Malta Government Stocks experienced a reversal and declined as bond prices increased. In fact, 18 of the 22 active issues appreciated, while only three declined.
Turnover in these securities totalled €4.75 million. The 5.25% MGS 2030 (I) recorded the largest price movement, as it gained 0.93 per cent in value, closing at €138.17.
More than half the weekly turnover involved the 2.1% MGS 2039 (I), as 89 deals worth a total of €2.8 million resulted in a 0.49 per cent increase in price, to close at €102.50.
Elsewhere, in the corporate debt market, performance was balanced between gainers and losers, as out of the 46 active issues, 14 headed north while 18 headed in the opposite direction. Turnover was just below the €2.9 million mark.
The 5% GlobalCapital plc Unsecured € 2021 topped the list of gainers, having increased by 1.52 per cent, to close at par.
The most liquid issue was the 4% MIDI plc Secured € 2026, as a turnover of €411,643 was generated over 14 deals.
This turnover failed to leave an impact on Friday’s closing price, as it read €105. At the other end of the spectrum, the 5.8% International Hotel Investments plc 2021 headed the list of fallers, as a decline of 2.30 per cent was registered, to close the week at €106.
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, or email info@jesmondmizzi.com.
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