MSE Daily Trading Report, 27 May 2020

The MSE Equity Total Return Index registered a further 1.545% increase, as it reached 8,076.528 points. Nine equities were active, of which seven traded higher while one lost ground. A total turnover of €229,886 was generated across 50 transactions.

Malta International Airport plc was the most liquid as total turnover stood at €98,539. The equity registered a positive performance with a 2.94% change in price, as it reached the €5.25 price level. A total of 19,016 shares changed hands over 24 deals.

In the banking industry, FIMBank Malta plc headed the list of gainers with a double-digit movement of 20%. Five deals involving 131,521 shares pushed the price to $0.42.

Similarly, HSBC Bank Malta plc advanced by 2.08% as 8,000 shares were spread across five transactions. The bank ended the session at €0.98 and registered a total turnover of €7,700.

Meanwhile, a sole deal of 1,000 Bank of Valletta plc shares dragged the price by 0.96% into the red, to close at €1.03. Total turnover stood at €1,030.

Telecommunications company, GO plc¸ was up by 1.11% as two deals involving 6,900 shares were executed, worth €25,116. The equity ended the session at €3.64. On a similar note, RS2 Software plc closed 0.51% higher at €1.96 as 6,020 shares changed ownership over five deals. A total turnover of €11,694 was recorded.

International Hotel Investments plc registered a 0.95% increase in price as it close at €0.53. A total of 36,700 shares changed hands over six deals, generating a total turnover of €19,451.

A single deal of 2,400 MIDI plc shares resulted into a positive 5.13% movement in price, as it closed at €0.41. A slim turnover was generated.

Elsewhere, Medserv plc was active but closed unchanged at €0.71. A total turnover of €16,660 was recorded over one deal of 23,800 shares.

Simonds Farsons Cisk plc announced that the board approved the annual report and consolidated financial statements for the year ended January 31, 2020. This shall be submitted for shareholders’ approval at the forthcoming Annual General Meeting to be held on a date not yet confirmed.

An increase of 3.7% in turnover was recorded as it stood at €103.5 million. While the group registered a turnover growth across all segments, reported pre-tax profits were 12.6% lower than the previous year, as it reached €12.3 million. The positive economic performance experienced by the country over the past years started to show signs of levelling off during the end of the financial year. A gradual slow-down in the payment patters of its customers were observed, which deteriorated further since the financial year end.  These factors signify the main reason for the lower profits reported.

Earnings before interest, tax, depreciation and amortisation (EBITDA) amounted to €22.7 million, translating into a 2% decline when compared to the previous year’s figure. This reflects the reported profit net of the impact of the introduction of IFRS16 for the ‘Right-of-use assets’. Net borrowings were up by €1 million, while following the inclusion of the liabilities in accordance with IFRS 16, the gearing ratio increased to 25.9% as compared to 23.4% for 2019. Total equity of the Group increased by 7.4% to €116 million, reflecting the profit generated net of the dividends distributed during the year.

An interim net dividend of €1,000,000 (€0.0333 per ordinary share) was approved at the Board Meeting held on 25th September 2019 and distributed to shareholders on 16th October 2019. In light of the current unprecedented times, the board does not consider it appropriate at this time to recommend the payment of a final dividend to the forthcoming AGM. Therefore, the total net dividend settled in cash to the ordinary shareholders relating to the financial year ended 31st January 2020 amounted to €1,000,000, (2019: €4,000,000) that is €0.0333 (2019: €0.1333) per ordinary share.

In the Sovereign Debt market, out of 10 active issues, seven advanced while the remaining closed in the red. The 2.4% MGS 2041 (I) was the best performer as it closed 6.91% higher at €131.50. On the other hand, the 4.3% MGS 2033 (I) lost 1.05%, ending the session at €140.00.

In the Corporate Debt market, 25 issues were active, of which gainers and losers tallied to nine apiece. The 3.85% Hili Finance Company plc Unsecured € 2028 registered the best performance with a 3.67% change in price, to close at €98.49. Conversely, the 4.25% Best Deal Properties Holding plc Secured € 2024 traded 1.01%, reaching the 99.00 price level.

In the Prospects MTF market, the 5% Busy Bee Finance Company plc Unsecured € 2029 was active but closed unchanged at €100.20.

 

The Equities traded today were:

Symbol Code	Volume Traded	Value Traded	Trades	Closing Price	% Change
BOV	1,000	1,030.00	1	1.030	-0.96
HSB	8,000	7,700.00	5	0.980	2.08
GO	6,900	25,116.00	2	3.640	1.11
IHI	36,700	19,451.00	6	0.530	0.95
FIM	131,521	48,712.29	5	0.420	20.00
MIA	19,016	98,538.60	24	5.250	2.94
MDS	23,800	16,660.00	1	0.700	0.00
RS2	6,020	11,694.40	5	1.960	0.51
MDI	2,400	984.00	1	0.410	5.13

The Corporate Bonds traded today were:

	Closing Price	% Change
5.5% Mediterranean Investments Holding plc Unsecured € 2020	100.000	-0.01
6% Mediterranean Investments Holding plc Euro 2021	98.000	-1.00
4.4% Von der Heyden Group Finance plc Unsecured € 2024	100.000	1.01
5.3% Mariner Finance plc Unsecured € 2024	104.000	1.46
5.1% 1923 Investments plc Unsecured € 2024	98.000	0.00
4.25% Best Deal Properties Holding plc Secured € 2024	99.000	-1.01
5.1% 6PM Holdings plc Unsecured € 2025	99.000	-0.86
4.5% Hili Properties plc Unsecured € 2025	99.980	0.99
4.35% Hudson Malta plc Unsecured € 2026	100.000	0.00
4.25% Corinthia Finance plc Unsecured € 2026	99.990	0.01
4% MIDI plc Secured € 2026	100.000	-0.65
4% International Hotel Investments plc Secured € 2026	100.000	2.04
4% Merkanti Holding plc Secured € 2026	100.000	1.01
5% Dizz Finance plc Unsecured € 2026	97.500	-0.51
4.8% Mediterranean Maritime Hub Finance plc Unsecured € 2026	97.500	0.00
3.75% Premier Capital plc Unsecured € 2026	101.020	1.43
4% International Hotel Investments plc Unsecured € 2026	99.990	0.00
3.75% Mercury Projects Finance plc Secured € 2027	98.000	0.00
4.35% SD Finance plc Unsecured € 2027	100.000	0.10
4% Stivala Group Finance plc Secured € 2027	99.550	-0.46
3.85% Hili Finance Company plc Unsecured € 2028	98.490	3.67
4.15% Phoenicia Finance Company plc Unsecured € 2023-2028	98.200	-0.25
3.75% TUM Finance plc Secured € 2029	99.800	-0.20
3.75% AX Group plc Unsec Bds 2029 Series II	100.750	0.00
3.5% Bank of Valletta plc € Notes 2030 S2 T1	99.980	0.00

The Government Stocks traded today were:

	Closing Price	% Change
4.5% MGS 2028 (II)	132.210	0.02
5.1% MGS 2029 (I)	145.000	2.78
5.2% MGS 2031 (I)	148.010	0.27
4.65% MGS 2032 (I)	150.000	-0.66
4.45% MGS 2032 (II)	147.500	4.61
4.3% MGS 2033 (I)	140.000	-1.05
4.1% MGS 2034 (I)	145.000	2.96
2.5% MGS 2036 (I)	128.100	-0.12
3% MGS 2040 (I)	139.000	2.96
2.4% MGS 2041 (I)	131.500	6.91

Prospect Bonds traded today were:

	Closing Price	% Change
5% Busy Bee Finance Company plc Unsecured € 2029	100.200	0.00

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].