The MSE Equity Total Return Index partially recovered the previous week’s loss, as it climbed 0.561 per cent to reach 9,403.975 points. Gainers and fallers were once again balanced, as from the 19 active securities eight rose in value while seven drifted lower.

Activity in the equity market was lower than the previous week’s €1.5 million as it amounted to €907,045 traded in 147 transactions, spread over four days.

The main catalyst for the solid performance was retail conglomerate PG plc, whose share price hiked a substantial 6.12 per cent. The equity closed at €1.56 to set a new record closing price since its listing on the Malta Stock Exchange in 2017. This was the outcome of a sizeable traded volume of 111,194 shares, spread across 17 deals.

In the banking industry, HSBC Bank Malta plc was another major driver to the gain registered by the market. The share price soared a solid 4.82 per cent higher to close at a two-month high of €1.74. This was the result of 16 transactions in which 51,028 shares were exchanged. Last Wednesday, the company held its annual general meeting in which all ordinary resolutions on the agenda were approved. During the meeting, chairman Sonny Portelli announced that in line with international best practices, after 12 years of service he has elected to step down from chairman of the board once the majority shareholder has identified a person to replace him as chairman.

Its peer, Bank of Valletta plc started the week poorly, but managed to rebound to ultimately close unchanged at €1.34. Trading volume totalled to 93,307 shares across 32 transactions.

In the same sector, Fimbank plc traded for the first time since turning ex-dividend for the one-for-30 bonus share issue. The equity closed 1.45 per cent lower at $0.68, compared to the previous week’s adjusted price of $0.69. The adjustment is made to take into account the bonus share issue. During the week, only one deal of 4,650 shares was recorded.

Lombard Bank Malta plc was also active on slim volume, as one deal of 2,000 shares shaved 2.56 per cent from the share price, which closed at €2.28.

In the telecommunications sector, the price of Go plc oscillated between €4.80 and €4.82, but ultimately closed at the higher end of the range to register a modest 0.42 per cent gain. In total, 19 transactions of a combined 25,031 shares were recorded. Last week the company presented the ordinary resolutions that will be considered at the AGM scheduled for May 28. The resolutions include the payment of a final net dividend of €0.14, as announced last month. If approved, this final dividend, together with the special interim dividend of €0.41 related to the sale of BMIT shares, will be paid on May 30 to all registered shareholders as at next Friday.

International Hotel Investments plc recorded just two deals on slim volumes, to close the week unchanged at €0.73.

Retail conglomerate PG plc’s share price hiked a substantial 6.12% to set a new record closing price since its listing on the MSE in 2017

Malta International Airport plc was the most liquid equity, as €220,141 worth of shares traded in 15 transactions. The equity ultimately sustained the previous week’s closing price of €6.60.

In the food and beverage sector, Simonds Farsons Cisk plc announced that its board will be meeting on May 15 in order to consider and approve the audited financial statements for the year ended January 31, 2019. The board will also consider the declaration of a final dividend to be recommended to the AGM, which will be held on June 24. The equity posted a gain of 2.86 per cent last week, to reach a 16-month high of €9. In total, 4,933 shares changed ownership in four deals.

The week’s worst performer was Maltapost plc as the share price sank 6.4 per cent to €1.17, as a result of three transactions of a combined 1,566 shares.

In the insurance industry, Mapfre Middlesea plc climbed 1.69 per cent to €2.40 as 13,505 shares were traded in eight deals.

BMIT Technologies plc kicked off the week strongly with three successive daily gains, eventually settling 1.9 per cent higher at €0.535. A total of 12 transactions were recorded, as 57,171 shares changed hands.

RS2 Software plc registered mixed sessions but ultimately closed 0.71 per cent in the red, at €1.40. A turnover of €6,762 was generated across three transactions.Oil and gas logistics specialists Medserv plc traded just twice early during the week, on a volume of 3,715 shares. The share price closed unchanged at €1.06.

The property sector was dominated by selling pressure last week, as fallers outweighed gainers. The worst performer in the sector was Malta Properties Company plc which sank 4.92 per cent to €0.58, partially erasing the previous week’s gain. This was the outcome of just a couple of transactions of 1,527 shares.

Similarly, a single transaction of 4,500 Main Street Complex plc shares dragged the index 3.08 per cent lower to €0.63. Midi plc followed suit with a 0.81 per cent drop down to €0.615. The equity traded three times as 25,370 shares changed hands.

On the other hand, a sole deal of just 1,000 Plaza Centres plc shares pushed the share price 0.97 per cent higher to €1.04.

Malita Investments plc registered five transactions of 43,712 shares, resulting in a modest gain of 0.59 per cent to €0.855.

The board of directors of Trident Estates plc will be meeting on May 8 to consider and approve the audited financial results for the year ended January 31, 2019. The recommendation of a final dividend will also be considered at the meeting. The dividend, if any, would be subject to approval at the AGM which is scheduled for June 25. No deals were recorded by the equity during the week.

The sovereign debt securities returned to negative territory, as all 16 active issues traded lower. In fact, the MSE MGS Total Return Index was down by 0.24 per cent to 1,044.738 points. Investor participation in the market was quite low, as €1.4 million worth of Malta Government Stocks traded across 49 deals, compared to €9.4 million the previous week. The 2.1 per cent MGS 2039 (I), which was by far the most liquid issue, registered a loss of 1.11 per cent, closing at €106.12.

In the corporate debt market, 43 bonds were active, generating a turnover of €1.8 million. Fallers amounted to 18 issues, while only 13 gained ground. The MSE Corporate Bonds Total Return Index closed the week at 1,070.571 points, translating to a 0.14 per cent loss. The worst performer was the 4.25 per cent GAP Group plc Secured € 2023 which declined 3.67 per cent to €101.62.

We wish all our readers a Happy Easter.

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.

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