MSE Daily Trading Report, 11 May 2020

The MSE Equity Total Return Index started off the week on a negative note as it closed 0.69% lower at 8,308.514 points. Eight equities were active, of which four declined while the rest closed unchanged. A total turnover of €284,015 was generated across 44 transactions.

The most liquid equity was Malta International Airport plc as total turnover stood at €196,576. A total of 40,228 shares were spread over 30 deals. The price declined by 4% to €4.80 – resulting into the largest decline for the session.

In the banking industry, HSBC Bank Malta plc lost 1.96% as it closed at €1.00. Four deals involving 4,400 shares were executed, worth €4,409.

Similarly, a sole deal of 10,000 Lombard Bank Malta plc shares resulted into a 1.9% fall in price. The bank ended the session at €2.06 and generated a total turnover of €20,600.

Meanwhile, Bank of Valletta plc was active but closed unchanged at €1.05.

Retail conglomerate, PG plc, registered a 1.6% decline in price as it reached the €1.85 price level. A total turnover of €24,218 was generated as 13,080 shares changed hands across four transactions.

 RS2 Software plc traded twice over 16,580 shares, which did not impact the equity’s previous closing price of €2.00. Total turnover stood at €32,999.

Elsewhere, Simonds Farsons Cisk plc and International Hotel Investments plc were both active but closed unchanged at €8.30 and €0.59, respectively.

In the Sovereign Debt market, the 4.65% MGS 2032 (I) and the 4.45% MGS 2032 (II) were active as they both closed 0.16% lower at €144.23 and €142.17, respectively.

In the Corporate Debt market, out of 21 active issues, gainers and losers tallied to five apiece. The 5.5% Mediterranean Investments Holding plc Unsecured € 2020 headed the list of gainers as it closed 4.21% higher at €99.00. On the other hand, the 4.85% Melite Finance plc Secured € 2028 lost 8.39%, ending the session at €98.00.

Today, Mediterranean Investments Holding plc announced that it intends to file an application with the Listing Authority of the MFSA, requesting admissibility to listing of €20,000,000 Unsecured Bonds redeemable in 2023, to be issued at par and shall carry a coupon of 5.5% per annum.  This shall be guaranteed by Corinthia Palace Hotel Company Limited, both in terms of annual interest and capital repayment upon maturity.

Subject to approval and effective admission, the net proceeds from this bond will be used by the Issuer to redeem the €20,000,000 5.5% Mediterranean Investments Holding plc Unsecured € 2020 issued in accordance with the terms of the prospectus dated July 1, 2015, due for redemption on July 31, 2020.  The Issuer will be giving preference to holders of the maturing bond to subscribe to the new bond limited to their holding in the maturing bond. Any additional bonds applied for exceeding in value the aggregate nominal value of the maturing bond held by them will rank pari passu, with other applications submitted by other bondholders without priority or preference, in accordance with an allocation policy to be announced in due course. (Subject in all cases to regulatory approval of the proposed new bond issue.)

In the Prospects MTF market, two issues were active. The 5.75% Pharmacare Finance plc Unsecured EUR Bonds 2025-2028 was the most liquid as total turnover amounted to €16,119 . The bond closed unchanged at €99.50. Meanwhile, the 5% Busy Bee Finance Company plc Unsecured € 2029 traded 0.79% lower at €100.20.

 

The Equities traded today were:

Symbol Code	Volume Traded	Value Traded	Trades	Closing Price	% Change
BOV	3,000	3,150.00	1	1.050	0.00
HSB	4,400	4,409.21	4	1.000	-1.96
LOM	10,000	20,600.00	1	2.060	-1.90
SFC	241	2,000.30	1	8.300	0.00
IHI	105	61.95	1	0.590	0.00
MIA	40,228	196,576.30	30	4.800	-4.00
RS2	16,580	32,999.20	2	2.000	0.00
PG	13,080	24,218.00	4	1.850	-1.60

The Corporate Bonds traded today were:

	Closing Price	% Change
5.5% Mediterranean Investments Holding plc Unsecured € 2020	99.000	4.21
5.8% International Hotel Investments plc 2021	100.200	0.20
5% Mediterranean Investments Holding plc Unsecured € 2022	97.800	0.00
6% International Hotel Investments plc € 2024	101.500	0.00
5.1% 1923 Investments plc Unsecured € 2024	98.900	0.00
5.1% 6PM Holdings plc Unsecured € 2025	99.550	0.00
4.5% Hili Properties plc Unsecured € 2025	99.500	-0.50
4.25% Corinthia Finance plc Unsecured € 2026	100.000	0.00
5.9% Together Gaming Solutions plc Unsec Call Bds €2024-2026	97.950	-0.05
4% MIDI plc Secured € 2026	101.100	0.20
4% International Hotel Investments plc Secured € 2026	100.000	0.00
5% Dizz Finance plc Unsecured € 2026	97.000	0.00
3.25% AX Group plc Unsec Bds 2026 Series I	101.500	1.50
4% International Hotel Investments plc Unsecured € 2026	98.000	0.00
3.75% Mercury Projects Finance plc Secured € 2027	100.000	0.00
4.35% SD Finance plc Unsecured € 2027	99.000	-1.00
4% Eden Finance plc Unsecured € 2027	100.000	0.00
3.75% Tumas Investments plc Unsecured € 2027	100.500	-0.50
3.85% Hili Finance Company plc Unsecured € 2028	95.000	0.01
4.85% Melite Finance plc Secured € 2028	98.000	-8.39
4% SP Finance plc Secured EUR Bonds 2029	100.000	0.00

The Government Stocks traded today were:

	Closing Price	% Change
4.65% MGS 2032 (I)	144.230	-0.16
4.45% MGS 2032 (II)	142.170	-0.16

 The Prospects MTF bonds traded today were:

	Closing Price	% Change
5.75% Pharmacare Finance plc Unsecured EUR Bonds 2025-2028	99.500	0.00%
5% Busy Bee Finance Company plc Unsecured € 2029	100.200	-0.79%

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 [email protected].