The Malta Stock Exchange Equity Total Return Index closed the four-day trading week 0.375 per cent higher at 8,683.062 points – fully erasing the previous week’s 0.126 per cent loss. Turnover amounted to €1.6 million and was spread across 17 equities, of which four fell and nine gained ground.

Malta International Airport plc shares oscillated between a weekly low of €5.85 and an all-time high of €5.95, at which it closed – registering a 0.9 per cent increase. The local airport operator’s shares were active on 26 transactions of 57,162 shares. The equity has appreciated by 26.6 per cent year-to-date.

Fimbank plc shares headed the list of gainers for the week, having advanced by 4.3 per cent, as two deals of 71,000 shares were negotiated, closing at a six-month high of $0.605 – but still recording a 12.3 per cent loss year-to-date.

HSBC Bank Malta plc shares fell by €0.05, or 2.8 per cent, after nine deals of 18,125 shares, and closed at €1.75. Last Tuesday, the bank distributed an interim dividend of €0.026 per share to shareholders who were on the bank’s register as at August 17, 2018.

Bank of Valletta plc shares closed unchanged at €1.48, after having reached a weekly high of €1.495 and a low of €1.47. The banking equity witnessed 36 transactions of 157,080 shares.

Lombard Bank Malta plc shares traded flat at €2.42 after one deal of 22,300 shares.

Mapfre Middlesea plc recorded a 0.5 per cent loss in its share price – partially erasing the previous week’s 1.7 per cent gain. The investments and insurance services equity witnessed two deals of 1,152 shares, and closed at €1.84.

Simonds Farsons Cisk plc (SFC) shares recouped from their intra-week low of €7, having closed the week 2.1 per cent higher at €7.35. The food and beverage supplier’s shares were traded in six transactions of 5,720 shares. SFC shares are down 13.7 per cent year-to-date.

Last Wednesday, SFC published the group’s unaudited financial statements for the six-month period ended July 31, 2018. The group registered a turnover of €51.2 million, a 4.1 per cent increase over the corresponding period last year. There was a 5.4 per cent growth in operating profit, which stood at €7.2 million.

One of the main drivers for this positive performance was an upturn of 2.8 per cent in the beer and branded beverages segment, which represents over half the group’s performance. The beverage and food importation companies also improved their contribution to profit, as revenues were up by 5.5 per cent. Similarly, the operation of franchised food retailing establishments maintained steady growth, with an increase in turnover of 3.5 per cent and an increase of five per cent in the segment’s result. This growth was registered across the 14 restaurants operated by Food Chain Ltd. Profit before tax from continuing operations reached €6.6 million, eight per cent higher than the previous year.

This was the first reporting period following the Trident Estates plc spin-off, representing a reduction in profit from discontinued operation of €62,000 compared to the previous year. Nevertheless, earnings per share increased by 5.7 per cent to €0.204 for the six-month period, compared to €0.193 in the same period last year.

The board of directors has resolved to distribute an interim dividend, out of tax-exempt profits, of €0.0333 per share on October 10, to all shareholders on the register as at close of business on September 26, 2018.

Midi plc has registered a significant 61.4 per cent rally year-to-date

Trident Estates plc shares closed unchanged at €1.34, as 26,331 shares changed ownership in eight deals.

Malta Properties Company plc shares increased by one per cent, as three deals of 36,000 shares were concluded, to close at €0.51.

Midi plc shares partially recouped from the previous week’s 3.5 per cent loss, having advanced by 2.7 per cent. The property management equity was active in five deals of 12,800 shares and closed at €0.565. The equity has registered a significant 61.4 per cent rally year-to-date.

In the same sector, Malita Investments plc shares closed unchanged at €0.87 for the second consecutive week. The equity was active in two transactions of 34,799 shares.

Telecommunications services provider GO plc recorded a 1.7 per cent gain in its share price. The equity was negotiated in 22 deals of 169,407 shares, and closed €0.06 higher at €3.60 – a 24-week high.

Maltapost plc shares extended their previous week’s 2.5 per cent increase, having appreciated by 2.4 per cent. The postal services operator’s shares were traded in two deals of 5,744 shares, closing €0.04 higher at €1.69 – a 13-week high. The equity has lost 20.3 per cent year-to-date.

PG plc registered a €0.05, or 3.7 per cent, increase in its share price. The retail and supermarkets owner’s shares witnessed 12 transactions of 73,888 shares and closed at €1.40 – a seven-month high.

Main Street Complex plc shares fell by 1.5 per cent on one deal of 5,000 shares, closing at €0.645. Meanwhile, Tigné Mall plc shares slipped by one per cent after four deals of 40,030 shares, to close at €0.99.

RS2 Software plc shares advanced by 1.7 per cent, as nine transactions of 49,673 shares were negotiated, closing at €1.20.

In the corporate bond market, 38 issues were active, of which 15 advanced and 11 declined. Turnover increased minimally to €1.8 million, from the previous week’s €1.5 million.

The 5.75 per cent International Hotel Investments plc Unsecured € 2025 was the best performer, having appreciated by 4.2 per cent, as four deals worth €52,307 were struck, closing at €110.39. Meanwhile, the four per cent International Hotel Investments plc Unsecured € 2026, headed the list of fallers, having slipped by 1.3 per cent, as seven deals worth €44,302 were negotiated, to close at €102.80.

The 3.5 per cent Bank of Valletta plc € Notes 2030 S1 T1 was the most liquid issue, having witnessed a €248,210 turnover, closing unchanged at €101.

In the sovereign debt market, turnover amounted to €5.2 million and was spread across 18 issues, of which three advanced and 15 lost ground. The 2.4 per cent MGS 2041 (I) headed the list of gainers, having extended the previous week’s 0.3 per cent gain by 0.2 per cent. The long-dated issue was active in three deals worth €57,725, and closed at €105.

Meanwhile, the 1.5 per cent MGS 2027 (I) registered the worst performance, having declined by 0.9 per cent, as three deals worth €1 million were executed, to close at €101.59. The 4.8 per cent MGS 2028 (I) was the most active issue, having witnessed a turnover of €1.8 million, closing 0.3 per cent lower at €130.18.

This article, which was compiled by Jesmond Mizzi Financial Advisors Ltd, 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 Ltd at 67, Level 3, South Street, Valletta, or on Tel. 2122 4410, or e-mail info@jesmondmizzi.com.

www.jesmondmizzi.com

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