Government Stocks drift lower

MSE Daily Trading Report, May 16, 2018

The MSE Equity Total Return was back in negative territory as it posted a loss of 0.047%, to close at 8,493.087 points. A total of 42 trades worth €438,368 were executed, as ten equities were active, three of which traded positively, while another two headed south.

In the banking industry, Bank of Valletta plc was the only equity to register a price movement as it climbed 0.29%, to close at €1.745. The equity traded five times as 17,236 shares changed hands.

MIDI plcwas one of the most liquid equities as 440,700 shares were exchanged over five deals, resulting in a 0.54% increase in value, to close at €0.372.

In the retail sector, PG plc also traded in positive territory, as it registered the best performance of the day - a 1.56% gain to settle at €1.30. Trading volume totalled 29,888 shares over three transactions.

The worst performer of the session was RS2 Software plc which drifted 2.44% lower to €1.20. This was the outcome of four trades of a combined 11,582 shares.

A total of five transactions worth €54,323 GO plc shares dragged the price down by 0.57%, to €3.46.

MaltaPost plc published the unaudited condensed consolidated interim financial statements for the six month period ending March 31, 2018. During the period, revenue increased by 37.5% from €17.6 million to €24.2 million as a result of positive trends in foreign mail activity, parcels business and document management services. However, margins were lower, as expenses increased disproportionately, climbing by 44.7% to €23 million, from €15.9 million in the previous year. As a result, profit before tax for the period was €1.3 million, compared to €1.8 million in the same period last year.

Also today, Simonds Farsons Cisk plc published the preliminary financial statements for the year ended January 31, 2018. The group registered a profit before tax figure of €13.4, an increase of 18.2% over the previous year. Turnover reached €94.9 million, translating to an improvement of 7.8%. As a result, Earnings per share increased from €0.404 to €0.459. The board has also decided to recommend to the Annual General meeting a final net dividend of €0.0866 per share, which will be distributed on June 22, 2018 to all shareholders on the register as at May 22, 2018.

Other active but non-moving equities were Lombard Bank Malta plc, Simonds Farsons Cisk plc, Malta International Airport plc, Malita Investments plc, Trident Estates plc.

In the sovereign debt market 15 issues were active, of which 13 recorded price falls while only the 5.2% MGS 2031 closed marginally higher. The longer dated issues posted the largest losses, particularly the 2.5% MGS 2036, which was down by 0.72% to €109.18.

In the corporate debt market, seven of the 18 active issues posted gains, while another four declined. The 5% GlobalCapital plc Unsecured € 2021 topped the list of gainers as it climbed 2.29%, to close at €99.73. On the other hand, the 7.5% MeDirect Bank plc Subordinated Bonds EUR 2019 shed 0.95% off its price, to close at €104.50.


The Equities traded today were:

Symbol Code

Volume Traded

Value Traded

Trades

Closing Price

% Change

BOV

17,236

30,136.55

5

1.745

0.29%

LOM

607

1,396.10

1

2.300

0.00%

SFC

585

3,919.50

1

6.700

0.00%

GO

15,635

54,322.50

5

3.460

-0.57%

MIA

10,194

50,309.50

8

4.900

0.00%

RS2

11,582

14,138.40

4

1.200

-2.44%

MDI

440,700

163,061.00

5

0.372

0.54%

MLT

81,660

68,727.69

6

0.840

0.00%

PG

29,888

39,076.88

3

1.300

1.56%

TRI

8,623

13,279.42

4

1.540

0.00%



The Corporate Bonds traded today were:

 

Closing Price

% Change

7.5% MeDirect Bank plc Subordinated Bonds EUR 2019

104.500

-0.95%

5% GlobalCapital plc Unsecured € 2021

99.730

2.29%

6% Mediterranean Investments Holding plc Euro 2021

104.100

-0.38%

5% Mediterranean Investments Holding plc Unsecured € 2022

102.500

0.25%

6% Medserv plc Sec. & Grntd €  Notes 2020-2023 S1 T1

101.550

0.05%

4.25% GAP Group plc Secured € 2023

103.750

-0.23%

6% AX Investments Plc € 2024

112.500

0.00%

4.4% Von der Heyden Group Finance plc Unsecured € 2024

101.000

0.00%

5.75% International Hotel Investments plc Unsecured € 2025

110.000

0.00%

4% MIDI plc Secured € 2026

104.000

0.00%

3.75% Premier Capital plc Unsecured € 2026

104.000

0.23%

4% International Hotel Investments plc Unsecured € 2026

104.000

0.00%

4.35% SD Finance plc Unsecured € 2027

104.950

0.00%

4.4% Central Business Centres plc Unsecured € 2027 S1/17 T1

103.850

0.24%

4% Stivala Group Finance plc Secured € 2027

104.980

0.46%

3.75% Virtu Finance plc Unsecured € 2027

103.250

0.00%

3.5% Bank of Valletta plc € Notes 2030 S1 T1

101.050

0.03%

3.5% Bank of Valletta plc € Notes 2030 S2 T1

99.990

-0.01%



The Government Stocks traded today were:

 

Closing Price

% Change

6.6% MGS 2019

108.500

-0.18%

5.2% MGS 2020 (I)

110.680

0.00%

5% MGS 2021(I)

115.660

-0.08%

5.5% MGS 2023 (I)

126.040

-0.27%

3.3% MGS 2024 (I)

116.810

-0.11%

4.8% MGS 2028 (I)

133.490

-0.17%

4.5% MGS 2028 (II)

130.740

-0.20%

5.1% MGS 2029 (I)

138.460

-0.40%

5.2% MGS 2031 (I)

143.030

0.02%

4.65% MGS 2032 (I)

137.370

-0.31%

4.45% MGS 2032 (II)

134.940

-0.05%

4.3% MGS 2033 (I)

133.260

-0.37%

4.1% MGS 2034 (I)

131.490

-0.59%

2.5% MGS 2036 (I)

109.180

-0.72%

3% MGS 2040 (I)

117.830

-0.19%



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. Jesmond Mizzi Financial Advisors Limited 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 Limited at 67, Level 3, South Street, Valletta, or on Tel: 21224410, or email. 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 Limited or a connected company, their clients, officers and employees may have a position or engage in transactions in any of the investments mentioned. 

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