The MSE Equity Total Return Index traded in negative territory following a three-week positive streak, as it lost 0.6 per cent to close at 9,623.094 points.
Performance in the equity market were mixed as from the 20 active equities, gainers amounted to eight, and fallers amounted to nine. Activity in the equity market was significantly lower than the previous week, as €1.4 million worth of shares were exchanged over 218 deals.
In the banking industry, Bank of Valletta plc held its Annual General Meeting on Thursday, during which the financial statements for 2018 were approved.
The AGM also approved the resolution that an amount in excess of €53 million shall be capitalised from the company’s reserves for the purpose of a bonus issue of 1 bonus share for every 10 shares held. Shareholders on the register on June 11, 2019, shall be eligible for the said bonus issue.
The share price oscillated between €1.30 and €1.34 throughout the week, but ultimately closed unchanged at €1.33. BOV was the most liquid equity, as 269,525 shares traded over 69 transactions.
HSBC Bank Malta plc traded flat at €1.72 over six deals of a combined 6,322 shares.
The bank issued an Interim Directors’ Statement, in which it stated that profit before tax for the first quarter of 2019 was in line with management expectations but was lower than the corresponding period in 2018.
The other two active banking equities both posted losses, led by FIMBank plc with a 7.8 per cent plunge to $0.65.
This was the lowest closing price for the equity in over seven months. A volume of 45,950 shares traded over four transactions. The bank held its annual General Meeting last Tuesday, in which all ordinary and extraordinary resolutions on the agenda were approved.
Lombard Bank Malta plc posted a minimal loss of 0.84 per cent to €2.36. The equity traded just three times, as 3,756 shares changed ownership.
In the telecommunications sector, GO plc extended the previous week’s negative path as it drifted a further 3.17 per cent lower to €4.28. A total of 27,927 shares traded over 14 deals.
International Hotel Investments plc kicked off the week negatively, but eventually recovered to close 0.65 per cent higher at €0.78. The equity traded seven times as 53,400 shares changed hands.
BMIT Technologies plc continued to trade in positive territory, reaching a price of €0.54. The 0.93 per cent price increase was the result of nine deals of a combined 119,127 shares.
Malta International Airport plc (MIA) provided the market with a traffic update for the month of April, showing a 10.5 per cent growth in passenger movements over the corresponding period in 2018.
During the week, the MIA gained 3.7 per cent to set a new all-time high of €7.00. The equity traded 21 times as 29,850 shares were exchanged.
MaltaPost plc continued its recovery with another price gain of 3.94 per cent to reach €1.32, its highest closing price of the year so far. In total, five transactions of 23,142 shares were executed.
The board of directors is scheduled to meet on May 30 in order to consider and approve the interim financial statements for the six-month period ending March 31, 2019.
Following the rescheduling of the board meeting to approve the 2018 financial statements, GlobalCapital plc published their results last Tuesday.
Trading in the equity has thus resumed, following the suspension from trading imposed by the Listing Authority last week.
MIDI plc posts a solid gain of 3.28 per cent
The results show a profit before tax figure of €1.2 million, compared to €4.6 million in 2017.
GlobalCapital Life Insurance Limited registered a total comprehensive income of €0.2 million, compared to €4.7 million in 2017. The company reported an increase in ordinary business, mainly from protection and unit linked business, however, interest sensitive single premium business was lower. The equity was not active during the week.
Also in the insurance sector, a single transaction of 2,000 Mapfre Middlesea plc shares dragged the share price 5.04 per cent lower to €2.26.
RS2 Software plc, retracted 2.44 per cent to €1.60, following the previous week’s impressive double-digit price hike. A total of 70,266 shares were exchanged over 20 deals.
Meanwhile, in the food and beverage industry, one transaction of 5,000 Simonds Farsons Cisk plc shares had no impact on the share price of €9.25.
The worst performer of the week was Medserv plc as the share price sank a sizable 9.62 per cent to €0.94, the lowest closing price in over four years. A turnover of €44,552 was generated across nine transactions.
Retail conglomerate, PG plc continued in positive territory, advancing 1.21 per cent to set a new all-time high of €1.67.
A volume of 58,484 shares traded over ten transactions.
In the property sector, Plaza Centres plc topped the list of fallers with a 4.81 per cent price drop to a three-year low of €0.99. The equity traded six times as 61,500 shares were exchanged.
On the other hand, MIDI plc posted a solid gain of 3.28 per cent despite falling ex-div on Thursday. Three transactions of 18,111 shares pushed the share price up to €0.63.
The top performer, however, was Trident Estates plc as its price hiked 9.7 per cent to €1.47, as a result of 12 trades of 47,495 shares.
On Wednesday, the company published the financial statements for the financial year ended January 31, 2019. The group registered a profit before tax of €1.1 million, compared to €437,000 in the previous year.
The company has planned a rights issue for the last quarter of 2019, which together with a banking facility, shall finance the Trident Park project.
The board of directors has resolved to recommend a final net dividend of €0.00666667 per share, to be paid on June 26, 2019, to all registered shareholders as at May 26, 2019. The dividend is subject to approval at the Annual General Meeting on June 25.
In the same sector, Malita Investments plc held its Annual General Meeting on Monday, during which all ordinary resolutions on the agenda were approved, including the 2018 financial statements and the net final dividend of €0.01417 per share.
The equity traded three times last week, as 30,585 shares changed ownership. The outcome was 2.3 per cent decline to settle at €0.85.
Malta Properties Company plc traded a further 1.67 per cent higher to close at the €0.61 price level as Tigne Mall plc was down 2.65 per cent to €0.92.
Yields in the sovereign debt market were predominantly down along the week.
The MSE MGS Total Return Index posted a gain of 0.32 per cent over the previous week, to close at 1,052.16 points.
Activity in the market was much lower, as a turnover of €2.3 million was generated, compared to the previous figure of €7.5 million. The 2.1% MGS 2039(I) was once again in the spotlight as it erased the previous week’s substantial loss to recapture the €108.50 price level.
The corporate debt was mainly dominated by buying pressure, as from 35 active securities, 13 advanced while eight headed south. Turnover was in line with the previous week, as €1.7 million worth of bonds were exchanged.
The MSE Corporate Bonds Total Return Index partially recovered the previous week’s loss, as it gained 0.17 per cent to 1,074.994 points.
The top performer of the week was the 5.5% Mediterranean Investments Holding plc Unsecured € 2020 as it advanced by 2.33% to close at €103.