MSE Equity Total Return Index drifted 0.2 per cent lower to close at 8,824.319 points. Investor participation was significantly lower than the previous week, as it decreased from €3.07 million, to €1.22 million.
Activity was spread across 17 equities, as gainers amounted to six, and fallers amounted to nine.
The banking industry had a relatively negative week, as two of the three active equities were down. Bank of Valletta plc kicked off the week with two negative sessions, ultimately closing 1.5 per cent lower at a price of €1.31. Trading volume amounted to 54,304 shares, spread across 24 deals.
Similarly, FIMBank plc posted further losses of 1.27 per cent, as a deal of 25,000 shares was executed at $0.775.
In the same industry, HSBC Bank Malta plc traded flat at €1.82, despite recording three transactions of a combined 36,020 shares mid-week. On Friday, HSBC Bank Malta plc announced that it has concluded the raising of Tier 2 capital in a principal amount of €62 million via a subordinated loan from HSBC Bank plc. The term of the loan is that of ten years, bearing an interest rate equal to three-month EURIBOR plus a margin of 206 basis points. This currently results in an effective rate of 1.75 per cent.
Lombard Bank Malta plc announced that the board is scheduled to meet on March 6 to approve the final audited accounts for the financial year ending on December 31. The board will also consider the declaration of a final dividend to be recommended to the bank’s Annual General Meeting, which shall be held on April 11. The equity was not active this week.
The most liquid equity of the week was by far telecommunications company, GO plc. A total of 164,120 shares with a combined value of €640,068 changed hands across 16 transactions. In spite of this high level of activity, the equity traded flat at €3.90.
Malta International Airport plc continued on its negative trend as a further 1.67 per cent was shaved off its share price, to settle at €5.90.
This was the lowest recorded closing price in almost three months. In total, 11,257 shares were exchanged over ten deals.
Similarly, insurance firm, Mapfre Middlesea plc continued to trade in negative territory, as it lost 0.51 per cent in value, down to €1.95. This was the result of a couple of transactions of a combined 4,000 shares recorded on Monday.
International Hotel Investments plc fully recovered the previous week’s losses, as it gained 3.45 per cent in value to recapture the €0.60 price level. The equity traded on relatively slim volume as just €983 worth of shares changed hands over two deals.
Banking industry had a relatively negative week
Likewise, RS2 Software plc rebounded from the previous week’s loss to return to €1.15. The 1.77 per cent price increase was the outcome of three transactions of 8,858 shares.
MaltaPost plc posted an identical price movement to the previous week, as it drifted lower by another 0.62 per cent to €1.60. Trading volume totalled 28,565 shares over four trades ahead of the board meeting to approve its full-year results tomorrow.
In the food and beverage sector, Simonds Farsons Cisk plc continued positively, as it posted a sizeable gain of 3.13 per cent, reaching an 11-month high of €8.25. A total of 9,000 shares changed ownership across six transactions.
Retail conglomerate, PG plc was a drag on the index, as it sank 3.68 per cent mid-week, closing the week at €1.31.
Overall, 113,740 shares were exchanged across a couple of deals. Shareholders who were on the register as at November 30, 2018, received a net dividend of €0.015741 on Monday.
A sole deal of 5,999 Loqus Holdings plc shares pushed the price upwards by 7.14 per cent, to €0.075.
Performances in the property market were mixed, as from five active equities, two headed north and three drifted lower. Gainers were led by Tigne Mall plc as it registered the largest price movement of the week, a 10 per cent gain to reach €0.99. This was the outcome of five transactions of 28,000 shares.
Malta Properties Company plc followed suit, posting a more modest increase in value of 0.95 per cent. Just two deals were recorded, as 11,000 shares were exchanged.
On the other hand, Malita Investments plc was the worst performer of the week, with a 4.49 per cent decline in price to €0.85. Two transactions of 30,000 shares were executed.
Similarly, two trades of 25,000 MIDI plc shares dragged the price downwards by 3.7 per cent, closing at €0.65.
A single transaction of 1,000 Trident Estates plc shares also shaved 1.33 per cent off the equity’s value, which closed the week at €1.48.
On Tuesday, Santumas Shareholdings plc announced that its board is scheduled to meet tomorrow, December 17, 2018, to consider and approve the Interim Financial Statements for the six-month period ended October 31. The equity was not active this week.
In the Malta Government Stocks market, 16 issues were active, ten of which headed north, while five declined. Turnover in the sovereign debt market totalled €1.55 million. The 4.1% MGS 2034 (I) headed the list of gainers, as it soared 1.6 per cent to a price of €130.05.
At the other end of the spectrum, the short-dated 6.6% MGS 2019 was down 0.23 per cent to €104.85.
In the corporate debt market, gainers outweighed fallers, as from 31 active issues, 11 advanced while six lost ground. Turnover amounted to €1.61 million. The best performer was the 5.75% International Hotel Investments plc Unsecured € 2025, as it hiked 3.39 per cent to €109.49. On the other hand, the 4.5% Hili Properties plc Unsecured € 2025 sank 1.16 per cent to €102.50.
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 2122 4410, or email info@jesmondmizzi.com.
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