The MSE Equity Total Return Index registered a further 2% decline, as it reached 7,140.962 points. Out of 18 active equities, four traded higher while another 10 closed in the red. A total weekly turnover of €0.6 million was generated across 123 transactions.
In the banking industry, all four equities were active. Yesterday, Bank of Valletta plc announced that it has been advised by Raiffeisen Bank International (Raiffeisen) that it is seeking to terminate its US$ correspondence relationship with the Bank with effect from March 31, 2021.
BOV are in discussions with Raiffeisen regarding the ongoing correspondent banking relationship supporting US$ payments with a view to satisfying any concerns and restoring the position. BOV are also actively considering alternative routes to diversify the available channels for the payment of US$.
The equity reached a weekly high of €0.88 but lost track yesterday, as it closed at €0.854 – equivalent to a 0.7% weekly decline. A total of 105,887 shares changed hands across 28 transactions, generating a total turnover of €91,640.
Its peer, HSBC Bank Malta plc lost almost 2%, as 40,140 shares were spread across eight transactions. The bank’s shares ended the week at the €0.745 price level.
On Tuesday, Lombard Bank Malta plc announced that the Annual General Meeting shall be held remotely on December 2, 2020. The equity traded 5.3% lower, to close the week at €1.80, as five deals involving 22,400 shares were executed.
Meanwhile, FIMBank plc traded twice over 12,000 shares but remained unchanged at $0.30.
On Thursday, Malta International Airport plc announced its September traffic results. The airport registered a drop of 83.1%, when compared to the same month of 2019, with passenger movements totalling 128,664. Aircraft movements and seat capacity decreased by 57.9% and 59.9%, respectively. Seat load factor for the month also declined by 49.9% to stand at just 36.3%. The top markets for the month of September were Austria (-55.4%), Germany (-71.4%), France (-73.1%), Italy (-83.1%) and UK (-89.2%).
The equity closed at a six-month-low-price of €4.52 – translating into a 1.7% weekly change. A total of 21 deals involving 13,950 shares were executed, on a weekly turnover of €63,899.
The highest liquidity was recorded by RS2 Software plc, as a total turnover of €186,769 was generated across 20 transactions. On Thursday, the equity reached a four-year-intra-day-low price of €2.12 but managed to recover as it closed unchanged at €2.20. A total of 84,983 shares changed hands. On a year-to-date perspective, the equity is up by 2.8%.
Telecommunications company, GO plc¸ ended the week in the red at €3.00 – the lowest price in over four years. Nine deals involving 22,194 shares were executed, dragging the price 6.3% lower. Similarly, its subsidiary, BMIT Technologies plc, registered a 2.1% fall in price, as it closed at €0.46. A total of 19,130 shares changed ownership across five transactions.
Retail conglomerate PG plc, traded 0.5% lower, closing at €1.88 yesterday – a seven-week low price. This was the result of four deals involving 10,200 shares. On a year-to-date basis, the equity is up by 2.2%.
Yesterday, Simonds Farsons Cisk plc held its 73rd Annual General meeting. The shareholders approved the income statement and statement of financial position for the year ended January 31, 2020 and the reports of the directors and auditors. The equity traded twice over slim volume, leaving no impact on its previous week’s closing price of €7.20.
Two deals involving 10,000 International Hotel Investments plc shares dragged the price by 5.8% into negative territory. The equity ended the week three cents lower at €0.49.
BOV are in discussions with Raiffeisen regarding the ongoing correspondent banking relationship supporting US$ payments
In the property sector, all three active equities closed on a positive note. Trident Estates plc registered the best performance with a 3.5% change in price. This was the outcome of two deals of 800 shares. Similarly, Malta Properties Company plc traded twice over 9,500 shares, pushing the price 0.8% higher to €0.494.
A sole deal of 5,400 Malita Investments plc shares resulted into a positive 0.6% movement in price. The equity ended the week at the €0.90 price level and is flat on a year-to-date basis.
On Monday, Mapfre Middlesea plc announced that the 39th Annual General Meeting shall be held on October 27, 2020. The financial statements for the year ended December 31, 2019, and the reports of the directors and auditors thereon shall be considered and approved. The directors’ recommendation that no dividend will be paid shall also be approved.
The equity was active but closed unchanged at €2.00. Three deals involving 1,339 shares were executed.
Yesterday, Mesderv plc announced that it has been awarded a contract by Eni North Africa (EniNa) to provide logistics marine base and associated services in Malta for its oil and gas activities taking place offshore Libya. The term of the contract is three years with the option for EniNa to extend for a further year. This contract comes into effect on January 1, 2021. These services are to be carried out at the Company’s base situated in the Malta Freeport.
The equity headed the list of fallers with a double-digit decline of nearly 22%. Six deals involving 178,600 shares were executed, dragging the price to €0.48, at which it closed.
Main Street Complex plc ended the week 8.2% lower at €0.45, as 5,000 shares were spread over two deals.
A single transaction of 200 Harvest Technology plc shares resulted into a 1.4% increase in price. The equity closed the week at €1.47.
On Thursday, Plaza Centres plc announced that the company purchased a total of €150,000 in the 3.9% unsecured bonds maturing in 2026, between September 25, 2020 and October 1, 2020. The said bonds shall be cancelled forthwith and may not be re-issued or re-sold.
The equity was not active during the week.
On Thursday, GlobalCapital plc announced that it intends to file an application with the Listing Authority of the Malta Financial Services Authority requesting admissibility to listing of €10,000,000 unsecured bonds. Subject to approval, the net proceeds from the new bond will be used by the issuer to redeem the €10,000,000 5% unsecured bonds 2021.
The MSE MGS Total Return Index registered a further 0.35% increase, as it reached 1,140.06 points. Out of 22 active issues, 13 headed north while another five closed in the opposite direction.
The 4.1% MGS 2034 (I) headed the list of gainers with a 1.4% movement in price, as it closed at €146.00. Conversely, the 2.5% MGS 2036 (I) closed 1.1% lower, ending the week at €135.50.
The MSE Corporate Bonds Total Return Index managed to recoup some lost ground, as it closed 0.14% higher at 1,073.17 points. A total of 50 issues were active, 14 of which advanced while another 15 lost ground. The 4% Stivala Group Finance plc Secured € 2027 registered the best performance, as it closed 1.9% higher at €102.00. On the other hand, the 4.25% GAP Group plc Secured € 2023 declined by 2.8%, to close at €101.10.
In the Prospects MTF market, two issues were active, one of which closed unchanged while the 5% Luxury Living Finance plc € Secured Bonds 2028 closed marginally higher at €99.96.
This article, which was 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, on 2122 4410, or e-mail info@jesmondmizzi.com