MSE Trading Report for Week ending 25 October 2019

• The local equities market returned to positive territory, as the MSE Equity Total Return Index reached 9,877.082 points, translating into a 1.473% increase. Out of 22 active equities, 11 headed north while another four closed in the opposite direction. A total weekly turnover of €1.7 million was generated over 226 trades.
• Last Tuesday, Bank of Valletta plc, issued an announcement following an article published on The Sunday Times stating that the bank is planning to shed staff. BOV confirmed that it has no intention of shedding any of its employees. Retirement schemes were always a part of BOV. The bank confirmed that these ‘new’ schemes refer to a renewal of previous schemes, which offer more flexibility. This will ensure that the Bank is resourced with the skills it needs. BOV also confirmed that it is currently recruiting staff and will not be declaring any redundancies. The bank managed to off-set part of last week’s fall as a total of 33 deals involving 136,164 shares were executed. This resulted into a 2.33% rise in price to €1.10.
• Similarly, its peer, HSBC Bank Malta plc also managed to reverse part of last week’s decline as it closed 2.36% higher at €1.30. The bank kicked off the week on a negative note but gained ground in the following days. A total of 54,413 shares changed hands over 27 deals.
• Last Tuesday, International Hotel Investments plc announced that two of its subsidiaries, Corinthia Developments International Limited and Corinthia Hotels Limited, have entered into a contractual arrangement to develop, lease and operate a luxury hotel in the centre of Rome.
• The best performance was recorded by GlobalCapital plc as a sole deal of 9,100 shares pushed its price 21.62% higher, reaching a new high of €0.27 since eight months.
• Heading the list of fallers, Trident Estates plc lost a substantial 18.28% to  reach €1.52, the lowest price in almost six months. Six deals involving 14,677 shares were executed.
• The MSE MGS Total Return Index was up by 0.117%, to 1,131.75 points, as out of 21 active issues, 13 declined while another eight closed in positive territory.
• In the local corporate debt market, 44 issues were active, of which gainers and losers amounted to 14 and 19, respectively.
• On Tuesday, the application period for the MeDirect Bank (Malta) plc issue of €35 million of the 4% Subordinated Unsecured Bonds maturing in 2024-2029 closed due to over-subscription.

This report 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, or on Tel: 21224410, or email [email protected].