MSE Daily Trading Report, 13 May 2020

The MSE Equity Total Return Index registered a further decline as it closed 0.338% lower at 8,273.408 points. Seven equities were active, of which two gained ground while one traded lower. A total turnover of €67,701 was generated across 22 transactions.

The top performer was Malta International Airport plc as it reached the €4.90 price level. Eight deals involving 3,495 shares pushed the price 0.82% higher. Total turnover amounted to €17,049.

MIA announced its financial performance for the first quarter of the year. Passenger traffic declined by 16.1% over the same quarter in 2019. As expected, due to the current Covid-19 pandemic impact and stringent measures, the group’s revenue dropped by 17.5% to €12.8 million, when compared to the same quarter of 2019. Following the implementation of cost-cutting measures, total expenditure declined by 5.9% to €7.8 million during this quarter, versus €8.3 million registered during the same period last year. This was one of the measures implemented to mitigate the adverse impact of these unprecedented times. Due to travel bans to and from Malta, aviation and non-aviation activities remain very limited. As a result, revenue generation remains significantly impaired, when compared to normalised operations. In addition to this, the uncertainty of the length of this pandemic keeps the short-term vision for the group a negative one.

The group is constantly monitoring the situation and is prepared to take measures aimed at supporting its financial conditions and other initiatives to be able to react immediately once travel ban is lifted. Despite the group has been negatively impacted, the directors believe that, when taking into consideration the measures taken and those planned should the need arise, the company is sufficiently resilient and able to meet current conditions. Moreover, the company has sufficient resources to meet all of its financial obligations for the current financial year.

Bank of Valletta plc was active as 11,591 shares changed hands across four transactions, generating a total turnover of €12,055. The bank’s previous closing price of €1.04 was not impacted.

Two deals involving 16,000 Main Street Complex plc shares pushed the price 3.11% higher to €0.464. Total turnover stood at €7,424.

The only negative performer was RS2 Software plc as three deals involving 8,637 shares dragged the price by 4.57% to €1.88. The equity generated a total turnover of €16,535.

Simonds Farsons Cisk plc was active but closed unchanged at €8.30. Three deals were executed, generating a total turnover of €7,146.

Elsewhere, BMIT Technologies plc and Malta Properties Company plc both traded once but closed unchanged at €0.48 and €0.55, respectively.

In the Sovereign Debt market, all six negative issues lost ground as yields increased. The 5.25% MGS 2030 (I) registered the largest declined of 1.8%, as it ended the session at €144.35.

In the Corporate Debt market, out of 21 active issues, headed north while another closed in the opposite direction. The 5.75% International Hotel Investments plc Unsecured € 2025 headed the list of gainers with a 2.53% increase in price, ending the session at €101.50. On the other hand, the 3.5% Bank of Valletta plc € Notes 2030 S1 T1 lost 0.49%, to close at €101.50.

In the Prospects MTF market, no trading activity was recorded.

 

The Equities traded today were:

Symbol Code	Volume Traded	Value Traded	Trades	Closing Price	% Change
BOV	11,591	12,054.64	4	1.040	0.00
SFC	861	7,146.30	3	8.300	0.00
MIA	3,495	17,049.20	8	4.900	0.82
RS2	8,637	16,534.90	3	1.880	-4.57
MPC	10,000	5,500.00	1	0.550	0.00
MSC	16,000	7,424.00	2	0.464	3.11
BMIT	4,150	1,992.00	1	0.480	0.00

The Corporate Bonds traded today were:

	Closing Price	% Change
6% Mediterranean Investments Holding plc Euro 2021	98.990	0.29
5.8% International Hotel Investments plc 2021	100.200	0.00
4.25% GAP Group plc Secured € 2023	101.200	0.10
4.4% Von der Heyden Group Finance plc Unsecured € 2024	99.980	0.99
5.1% 1923 Investments plc Unsecured € 2024	98.890	-0.01
5.75% International Hotel Investments plc Unsecured € 2025	101.500	2.53
5.1% 6PM Holdings plc Unsecured € 2025	99.700	0.15
4.5% Hili Properties plc Unsecured € 2025	100.000	0.50
4.25% Corinthia Finance plc Unsecured € 2026	100.000	0.00
4% International Hotel Investments plc Secured € 2026	100.000	0.00
5% Dizz Finance plc Unsecured € 2026	98.000	1.03
4.8% Mediterranean Maritime Hub Finance plc Unsecured € 2026	97.000	0.00
3.25% AX Group plc Unsec Bds 2026 Series I	101.500	0.00
3.75% Mercury Projects Finance plc Secured € 2027	100.000	0.00
4.35% SD Finance plc Unsecured € 2027	101.000	0.00
4.5% Grand Harbour Marina plc Unsecured € 2027	100.400	-0.10
3.85% Hili Finance Company plc Unsecured € 2028	94.900	0.00
4% SP Finance plc Secured EUR Bonds 2029	99.800	-0.20
3.75% TUM Finance plc Secured € 2029	100.000	0.00
3.5% Bank of Valletta plc € Notes 2030 S1 T1	101.500	-0.49
3.5% Bank of Valletta plc € Notes 2030 S2 T1	100.000	0.00

The Government Stocks traded today were:

	Closing Price	% Change
5% MGS 2021(I)	106.180	-0.05
4.3% MGS 2022 (II)	108.000	-0.69
4.5% MGS 2028 (II)	133.460	-0.93
2.3% MGS 2029 (II)	115.810	-1.10
5.25% MGS 2030 (I)	144.350	-1.80
5.2% MGS 2031 (I)	147.860	-1.54

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].