The MSE Equity Total Return Index declined by 0.5% this week, to close at 8,668.684 points, surrendering a large portion of last week’s gains. The equities’ market was dominated by selling pressure as out of 18 active equities, ten closed lower, while five headed north. Investor participation was down from last week’s highs as a turnover of €1.1 million was registered over 157 transactions. The main catalysts of this negative performance were Lombard Bank Malta plc, International Hotel Investments plc and Loqus Holdings plc, all of which suffered sizeable losses in value.

 

Lombard Bank Malta plcwas the only equity in the banking industry to trade in negative territory, as it slumped 11.4%. This was the result of a couple of trades of a combined 11,067 shares, both of which were executed at a price of €2.02.

 

Bank of Valletta plc (BOV)was responsible for about a quarter of total turnover as 137,515 shares were exchanged over 50 deals. As a result, the equity was up 0.86%, closing at €1.76.

 

Also, in the banking industry, HSBC Bank Malta plc followed suit, as its share price climbed 0.54% to close at €1.85.The equity also traded heavily as 85,396 shares changed hands across 24 deals.

 

On Monday, FIMBank plc announced that its board will be meeting on August 14, 2018 to consider and approve the consolidated financial statements for the six-month period ended June 30, 2018. The board will also consider the payment of an interim dividend, if any. No trades were recorded for the equity during this week.

 

Telecommunications company, GO plc, was the best performing equity of the week, as it advanced 4.24%, recovering two weeks’ losses. The last traded share price was €3.44, as 6,822 shares changed ownership over four deals.

 

International Hotel Investments plc moved in the opposite direction as it sank 7.58% to €0.61, the lowest closing price in two and a half months. The equity traded three times as 53,181 shares were exchanged. Next Monday, the company shall be paying a dividend of €0.02 per share to all shareholders who were on the register as at June 30, 2018.

 

On Monday, Malta International Airport plc published its traffic results for the month of June 2018. The positive trend experienced during this year persisted throughout June as well as passenger movements were up by 14.6% over the previous year as the airport managed an average of 156 take-offs and landings per day.

 

This growth in passenger numbers was in line with a 15.1% increase in aircraft movements and a 14.4% improvement in seat capacity. Most of the Airport’s top markets registered significant growth, particularly Spain which registered an increase of 49.1%. This was the result of the introduction of three new routes to Malaga, Seville and Bilbao, as well as an enhanced flight frequency to Barcelona.

 

On Tuesday the company also announced that its board shall be meeting on July 25, 2018 to consider and approve the company’s interim financial statements for the first half of 2018. The board will also consider the payment of an interim dividend during this meeting. The equity traded flat at €5.05 despite generating a turnover of €48,490 across eight deals.

 

MaltaPost plcedged 0.6%, down to a price of €1.65, as a result of five transactions of a combined 12,086 shares.

 

In the insurance sector, Mapfre Middlesea plc traded five times as 4,968 shares were negotiated. As a result, a loss in value of 2.06% was registered, settling at €1.90. Next Friday, the board of directors of the company is scheduled to meet to consider and approve the interim results for the first half of 2018.

 

The share price of RS2 Software plc closed unchanged at €1.20 this week, as three transactions of 12,090 shares were registered.

 

In the food and beverage sector, Simonds Farsons Cisk plc extended its positive run to three straight weeks, with a further 0.7% gain, to a price of €7.20. Trading volume totalled 8,337 shares across three transactions.

 

Retail conglomerate, PG plc was the most liquid equity this week as it generated a turnover of €367,521. Despite this trading activity, the share price closed unchanged at €1.33 for the second consecutive week.

 

Loqus Holdings plc was the worst performer of the week as it plunged 14.29%, setting a new all-time low of €0.06. A total of 186,156 shares changed hands across seven transactions.

 

The property sector had a very negative week as five equities posted falls. The worst performer in the industry was Malita Investments plc which declined by 4.49% to €0.85. This was the outcome of six trades in which 59,928 shares were exchanged.

 

Similarly, MIDI plc shaved off 0.82% in value to a price of €0.486, as €57,220 worth of shares were transacted across 12 deals.

 

Following the previous week’s losses, Malta Properties Company plc drifted a further 1.6% lower to €0.492. The equity traded on slim volume as just three trades of a combined 3,134 shares were struck.

 

Last week’s price increase for Trident Estates plc proved unsustainable, as the share price retracted 0.76% to close the week at €1.30. In total, 2,360 shares traded over three transactions.

 

In the same sector, a total of four transaction of 17,570 Main Street Complex plc shares dragged the share price down by 0.75% to €0.665.

 

Plaza Centres plc was the only positive exception in the property sector, as a single transaction of 1,000 shares pushed the share price upwards by 2.88%, to close at €1.07.

 

Thecorporate debt markethad quite a balanced week, as from a total of 33 active issues, ten gained ground while eight headed in the opposite direction.

 

The 4% International Hotel Investments plc Secured € 2026 managed to recover the previous week’s loss as it advanced 1.22% to recapture the €104 price level.

 

The 5.1% 6PM Holding plc Unsecured € 2025, topped the list of gainers with a price increase of 2.15% to €94.95.

 

Conversely, the 5.75% Medserv plc Unsecured USD 2026 continued on last week’s negative performance as it headed the list of fallers this week. The bond closed the week at par, translating to a 2.9% decrease in price.

 

In the local sovereign debt market, 22 issues were active registering mixed performances, with the short-dated bonds drifted lower, while the longer-dated issues headed north.

 

In fact, the MGS with the longest date to maturity, the 2.4% MGS 2041 (I), logged the best performance as it pushed forward 0.42% to €106.95.

 

At the other end of the spectrum, the 5.1% MGS 2022 (I) posted a fall of 0.18% to close at €119.57.