The MSE Equity Total Return Index strongly rebounded from last week’s decline as the index rallied by 1.7 per cent at 9,015.856 points. Malta International Airport plc, HSBC Bank Malta plc and International Hotel Investments plc were the major contributors towards this gain. A total of 17 equities were active during the week of which eight headed north, while five lost ground. Total turnover was similar to that of last week, as 161 deals generated a total turnover of €1.33million.
In the banking industry, HSBC Bank Malta plc shares registered the only gain among its peers, as the equity gained by 1.8 per cent to close at €1.935. Total turnover amounted to €109,672, spread over 17 deals.
Its counterpart, Bank of Valletta plc, shares lost ground by one per cent to close at €2.07. Total turnover neared €300,000, spread over 44 transactions.
Their peers, FIMBank plc and Lombard Bank plc also closed in the red, having lost 2.1 per cent and 0.7 per cent of their value, closing at $0.71 and €2.20 respectively – with the former trading once on slim volume.
On Wednesday, the board of Directors of Simonds Farsons Cisk plc presented the interim report for the six months ended July 31.
The group’s turnover exceeded €49 million, an increase of 7.5 per cent over last year. Operating profit increased by €387,000, while profit after tax for the period from continuing operations, at €5.7 million, exceeded last year’s figure by 3.9 per cent. Earnings per share increased by 4.3 per cent to €0.193 for the mentioned period. The board of directors is recommending a net interim dividend of €1 million (2016: €1 million) to the ordinary shareholders who will be on the register of members of the company as at October 4. The interim dividend will be paid out of tax-exempt profits and is equivalent to €0.0333 (2016: €0.0333) per share.
During the week, SFC traded eight times, generating a total turnover of €232,829. The equity reached a fresh all-time high intra-week at €9.501 to close at €9.50.
Similarly, retail conglomerate PG plc spiked by 6.4 per cent to close at a fresh all-time high at €1.50, as total turnover surpassed the €126,000 mark, over 21 trades.
International Hotel Investments plc shares surged by 6.1 per cent to close at €0.605. A total of seven trades generated a total turnover of €11,425.
In the telecommunications sector, GO plc shares appreciated 2.3 per cent in value to close the week at €3.59. A total of 10,531 shares were dealt over five trades.
Malta International Airport plc shares reached a fresh 18-month high as the equity touched the €4.46 price level, on a total turnover of €223,571, spread over 22 transactions.
Insurance firm Mapfre Middlesea plc reached a six-week high as the equity closed the week 3.1 per cent higher at €1.939. A total of 6,805 shares exchanged hands over six deals.
Elsewhere, Maltapost plc and RS2 Software plc shares closed the week flat at €1.98 and €1.735 respectively.
Property firm Malta Properties Company plc outperformed its peers as the equity gained 3.2 per cent. On the other hand, Tigné Mall plc shares registered the weakest performance among its peers, as the equity lost 1.8 per cent of its value.
In the same sector, Malita Investments plc shares followed suit as the equity headed south by 1.1 per cent to close the week at €0.741.
Meanwhile, MIDI plc and Plaza Centres plc shares traded on a slim volume over a single deal, to close flat at €0.31 and €1.05 respectively. Further declines were recorded within the local sovereign debt market, as out of the 22 issues, 17 closed in the red while five gained ground. Bonds holding a maturity greater than 10 years registered the largest declines ranging from 0.1 to 1.6 per cent, with the exception of four which gained up to one per cent.
In the local corporate debt market, a total of 38 issues were active during the week, 11 headed north, while 14 closed in negative territory. The 6% AX Investments plc € 2024 extended its price gain as the bond price advanced by 2.5 per cent to close at €114.
This article, compiled by Jesmond Mizzi Financial Advisors Ltd, does not intend to give investment advice and the contents therein should not be construed as such. Jesmond Mizzi Financial Advisors Ltd is licensed to conduct investment services by the MFSA and is a member firm of the Malta Stock Exchange. 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: 21224410, or e-mail. Jesmond Mizzi Financial Advisors Ltd is the sponsoring broker for the Mediterranean Bank 5% Subordinated Unsecured Bonds 2027 issue, additionally the company is also participating as one of the authorised financial intermediaries and is a member firm of the Malta Stock Exchange, Garrison Chapel, Castile Place, Valletta VLT1063, Malta. Jesmond Mizzi Financial Advisors Ltd or a connected company, their clients, officers and employees may have a position or engage in transactions in any of the investments mentioned.