MSE Trading Report for Week ending 19 June 2020

MSE Equity Total Return Index:

Chart of the Week: RS2 Software plc

Highlights:
  • The MSE Equity Total Return Index closed the week in positive territory with a 0.1% gain to close at 8,302.228 points. A total of 15 equities were active, of which eight headed north while another six closed in the opposite direction. A total weekly turnover of €0.7 million was generated across 139 transactions.
  • Malta International Airport plc managed to recover its previous week’s loss with a gain of nearly 3%. A total of 20 deals involving 14,659 shares pushed the price up to €5.80 after the equity traded at a weekly low of €5.65.
  • In the banking industry, HSBC Bank Malta closed the week with a positive 2% change in price, reaching the €0.96 price level. This was the outcome of seven deals involving 56,200 shares.
  • Likewise, Bank of Valletta plc gained 1.5% as turnover reached €125,883 over 13 transactions of 124,479 shares. The equity closed the week at €1.015. Similarly, two deals involving 35,766 FIMBank plc shares pushed the price 2.5% higher, to close at $0.41.
  • Meanwhile, Lombard Bank Malta plc headed the list of fallers with an 8% decline, ending the week at €2.02. A total of 34,871 shares were spread over 12 deals.
  • The most liquid equity of the week was RS2 Software plc as total turnover stood at €169,155. This was the result of 72,470 shares spread over 23 deals. The equity was also the best performer, as it was up by 3.45% to reach the €2.40 level. From a year-to-date perspective, the equity is up by 12%.
  • On Monday, GO plc announced that the board agreed to recommend to the Annual General Meeting, to be held on July 28, the approval of the payment of a dividend of €0.10 (net of taxation), revised down from the original announcement wherein the company had stated that it would propose a dividend of €0.14 (net of taxation). The final dividend for the year ended December 31, 2019 will be paid on July 30, 2020 to all shareholders on the shareholders’ register as at April 30, 2020.
  • The equity closed at €3.40 – the lowest price since early September 2018, which translates into a 3.41% decline. The equity also traded at a high of €3.52. A total of 25,017 shares changed ownership across 20 transactions.
  • Its subsidiary, BMIT Technologies plc announced that the Annual General Meeting shall be held on July 27,2020. On Friday, the company issued another announcement referring to an article that appeared in the media wherein it was stated that all major Company investments are being re-evaluated.  The Company referred to its company announcement issued on the March 19, 2020, following the Covid-19 outbreak, in terms of which it was stated that the board of directors will continue to monitor developments closely and take the appropriate measures to safeguard its business.  The Company reiterates its position that in view of the current situation, the board of directors and management of the Company will continue to re-evaluate all major investments regularly and any final decision to postpone or otherwise reconsider any major investment will be communicated to the market accordingly.
  • The equity was active but closed unchanged at €0.49. A total of 15 deals involving 123,927 shares were executed.
  • On Wednesday, Simonds Farsons Cisk plc (SFC) announced that it has notified the Malta Financial Services Authority about its intention to avail itself of the two-month extension granted in terms of the Circular for the publication of its forthcoming Financial Analysis Summary (FAS) update.  At this time there exists little clarity and limited forward visibility as to the timing and nature of any amelioration to the current crisis being faced by businesses – and/or of the shape of any subsequent recovery in economic activity. The Company believes that an extension in the date for the publication of the FAS to not later than September 27, 2020 will enable it to obtain a greater degree of visibility of the impact on market conditions, as travel and other restrictions are lifted. This will therefore provide a better basis for the updating of the forecasts for the financial year ending January 31, 2020.
  • Six deals involving 3,050 SFC shares resulted into a 3% increase in price, as it closed at €8.20.
  • On Thursday, International Hotel Investments plc announced that the board shall meet on July 26, 2020, to consider, and if deemed fit, approve the audited financial statements for the financial year ended December 31, 2019. The equity declined by 6% as 9,237 shares were spread over six deals, to close at €0.56.
  • On Wednesday, Malta Properties Company plc announced that the Annual General Meeting shall be held on July 29, 2020. The equity registered a negative 3% movement in price, as it closed at €0.58. Three deals involving 18,520 shares were executed.
  • On Thursday, Grand Harbour Marina plc announced that it has notified the Malta Financial Services Authority of the company’s intention to avail itself of the two-month extension granted, in terms of the Circular, for the publication of its forthcoming Financial Analysis Summary (FAS) update.  The company expects to publish the FAS by not later than August 27, 2020.  The company believes that this extension will enable it to obtain a greater degree of visibility as to the likely market conditions, as travel restrictions are lifted, thus allowing for a better updating of financial forecasts for financial year ending December 31, 2020. No trading activity was recorded during the week.
  • On Thursday, Medserv plc announced that the Annual General Meeting shall be held on July 31, 2020. The equity was not active during the week
  • The MSE MGS Total Return Index registered a 0.672% increase, reaching 1,116.31 points. Out of 18 active issues, seven advanced while another nine lost ground. The 2.3% MGS 2029 (II) headed the list of gainers, as it closed 6.14% higher at €121.00. Conversely, the 2.5% MGS 2036 (I) lost 3.85%, ending the week at €125.00.
  • The MSE Corporate Bonds Total Return Index ended the week in positive territory at 1,084.93 points, equivalent to a 0.238% rise. A total of 43 issues were active, of which 18 registered gains while another 14 closed in the red. The top performer was the 4% Merkanti Holding plc Secured € 2026 , with a 2.98% increase in price, ending the week at €104.00. On the other hand, the 3.5% Bank of Valletta plc € Notes 2030 S1 T1 declined by 5.88%, to close at €96.00.
  • In the Prospects MTF market, four issues were active. The 5% Busy Bee Finance Company plc Unsecured € 2029 was the most liquid with a total turnover of €43,968.
Upcoming Events
Best Performers:
1. RS2+3.45%
26 JUN 2020MT:  BMIT Technologies plc – Annual General Meeting2. SFC+3.15%
28 JUL 2020MT: Malita Investments plc – Annual General Meeting3. HRV+2.76%
28 JUL 2020MT: Plaza plc – Annual General Meeting
28 JUL 2020MT: GO plc – Annual General MeetingWorst Performers:
29 JUL 2020MT: MaIta International Airport plc – Annual General Meeting1. LOM-8.18%
2. MDI-7.50%
3. IHI-5.88%

 

 

Price (€): 19.06.2020Price (€): 12.06.2020Weekly Change (%)2020 Performance (%)
MSE Equity Total Return Index8,302.228 8,292.7370.114-13.660
BMIT Technologies plc0.4900.4900.00-5.77
Bank of Valletta plc1.0151.0001.50-4.25
FIMBank plc (USD)0.4100.4002.50-31.67
GlobalCapital plc0.3300.3300.0017.86
Grand Harbour Marina plc0.7200.7200.0030.91
GO plc3.4003.520-3.41-20.19
Harvest Technology plc1.4901.4502.76 -0.67
HSBC Bank Malta plc0.9600.9402.13-26.15
International Hotel Investments plc0.5600.595-5.88-32.53
Lombard Bank plc2.0202.200-8.18-11.40
Loqus Holdings plc0.0970.0970.0050.39
MIDI plc0.3700.400-7.50-31.48
Medserv plc0.6000.6000.00-45.45
Malta International Airport plc5.8005.6502.65-15.94
Malita Investments plc0.8950.8900.56-0.56
Mapfre Middlesea plc2.2802.2800.005.56
Malta Properties Company plc0.5800.600-3.33-7.94
Main Street Complex plc0.5200.5200.00-13.33
MaltaPost plc1.2001.2000.00-8.40
PG plc1.9802.000-1.007.61
Plaza Centres plc0.9800.9800.00-2.97
RS2 Software plc2.4002.3203.4512.15
Simonds Farsons Cisk plc8.2007.9503.14-38.70
Santumas Shareholdings plc1.4901.4900.005.67
Tigné Mall plc0.8500.8500.00-5.56
Trident Estates plc1.5401.5400.00-0.65

 

 

 

* Trading commenced on January 7, 2020.

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. 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. For further information contact Jesmond Mizzi Financial Advisors Limited at 67, Level 3, South Street, Valletta, or on Tel: 21224410, or email [email protected].