MSE Trading Report for Week ending 16 October 2020

MSE Equity Total Return Index:

Chart of the Week: Bank of Valletta plc 

Highlights:
  • The MSE Equity Total Return Index declined marginally, as it ended the week at 7,126.746 points. A total of 15 equities were active, where gainers and losers tallied to five-a-piece. Total weekly turnover more than doubled to €1.2 million – generated across 194 transactions.
  • Malta International Airport plc was the most liquid, as it generated a total turnover of €292,000 – more than triple the amount recorded during the previous week. The equity reached a six-month low price on Monday but managed to recoup the lost ground, as it closed 1.8% higher at €4.60. This was the result of 64,135 shares spread over 36 deals.
  • The banking sector followed suit since it also registered an increase in turnover. Bank of Valletta plc registered a total turnover of €245,865 as 288,927 shares changed hands across 46 transactions. The bank ended the week at €0.86 – translating into a positive 0.7% change.
  • On Wednesday, FIMBank plc announced that in light of the current circumstances arising from the Covid-19 pandemic, it will be availing itself of the extension period.
    • The Annual General Meeting is now scheduled to be held on November 30, 2020.
    • The equity traded twice over 18,000 shares but closed unchanged at $0.30.
  • RS2 Software plc’s activity remained high, as it generated a total turnover of €150,011 – slightly lower than last week.
    • A negative 0.9% change in price was recorded, as 70,980 shares were spread across 13 transactions.
    • The equity reached a 19-week low price of €2.10 on Thursday, but ended the week at €2.18.
    • On a year-to-date basis, the equity is generating a positive 1.9%.
  • Retail conglomerate, PG plc, held its fourth Annual General Meeting on Thursday.
    • The audited financial statements for the financial year ended April 30, 2020 and the auditors’ report thereon were approved.
    • Three deals involving 2,400 shares did not impact the equity’s previous week’s closing price of €1.88.
  • Plaza Centres plc held its Annual General Meeting on Monday.
    • The annual report for the financial year ended December 31, 2019, including the financial statements for the same financial year and the directors’ and auditors’ reports thereon were approved.
    • A final net dividend of €0.0113 per share, representing a net amount of €320,000 was approved, which was paid as an interim dividend on August 4, 2020.
    • The board have also resolved the recommend to shareholders the payment of a gross interim dividend of €1 million, to be paid to shareholders on the register on October 28, 2020, and to be paid out on November 11, 2020.
    • A sole deal of 10,000 shares did not alter the equity’s price of €1.00.
  • Last Friday, the board of Trident Estates plc held its 20th Annual General Meeting.
    • The income statement and statement of financial position for the year ended January 31, 2020 and the reports of the directors and the auditors were approved.
    • The equity did not record any trading activity during the week.
  • On Wednesday, Medserv plc announced that its subsidiary Middle East Tubular Services Ltd (METS) has been awarded a long-term contract note by Tenaris Global Services S.A. – Abu Dhabi.
    • The contract is awarded for an initial period of three years commencing on October 1, 2020, with opportunity to extend the term by two additional periods of one year each.
    • The directors consider this award to be a significant achievement for the group, both in terms of market penetration as well as for the constant earnings the contract is expected to bring to the group.
    • Medserv headed the list of gainers with a 4.2% movement in price.
    • The equity traded twice over 2,450 shares, reaching the €0.50 price level.
  • On Monday, GlobalCapital plc announced that the Annual General Meeting was held remotely on October 9, 2020.
    • All resolutions which were presented for the consideration of the shareholders at the AGM have been duly approved.
    • The directors expressed satisfaction that the shareholders have approved the resolution proposing the Class 2 transaction.
    • This relates to the company’s consideration for disposal of at least 25% and up to 45% of the Company’s shares in GlobalCapital Life Insurance Limited (“GCLI”) through the listing of the shares of GCLI (“IPO”) and an offer to the Company’s shareholders to exchange all of their shares in the Company for shares in GCLI.
    • The company intends to use the net proceeds from the new bond to redeem the €10,000,000 5% GlobalCapital plc unsecured bonds 2021.
    • No trading activity was recorded during the week.
  • The MSE MGS Total Return Index gained a further 0.31% as it closed at 1,143.63 points. Out of 19 active issues, 12 headed north while another five closed in the opposite direction. The best performance was recorded by the 2.5% MGS 2036 (I) as it closed 1.9% higher at €138.00. On the other hand, the 2.2% MGS 2035 (I) lost 6.3%, ending the week at €120.00.
  • The MSE Corporate Bonds Total Return Index advanced by another 0.71% as it reached 1,080.75 points. A total of 46 issues were active, 20 of which registered gains while another eight lost ground. The 4.35% Hudson Malta Plc Unsecured € Bonds 2026 was the top performer with a 3% movement in price, to close at €102.50. Conversely, the 4.15% Phoenicia Finance plc 2028 Unsecured closed 4% lower at €94.05.
  • In the Prospects MTF market, the 5% Smartcare Finance plc Secured € 2029 was active but closed unchanged at €100.50.

 

Upcoming Events 
Best Performers:
1. MDS+4.17%
22 OCT 2020MT: Santumas Shareholdings plc – Annual General Meeting2. BMIT+3.91%
27 OCT 2020MT: Mapfre Middlesea plc – Annual General Meeting3. MPC+3.24%
11 NOV 2020MT: Malta International Airport plc – Annual General Meeting
26 NOV 2020MT: Bank of Valletta plc – Annual General MeetingWorst Performers:
27 NOV 2020MT: HSBC Bank Malta plc – Annual General Meeting1. MTP-7.69%
2. HSB-5.37%
3. LOM-2.22%

 

 

 

Price (€): 16.10.2020Price (€): 09.10.2020Weekly Change (%)2020 Performance (%)
MSE Equity Total Return Index7,126.7467,140.960-0.20-25.89
BMIT Technologies plc0.4780.4603.91-8.077
Bank of Valletta plc0.8600.8540.70-18.87
FIMBank plc (USD)0.3000.3000.00-50.00
GlobalCapital plc0.5300.5300.0089.29
Grand Harbour Marina plc0.7000.7000.0027.27
GO plc3.0003.0000.00-29.58
Harvest Technology plc1.4701.4700.00 -2.00
HSBC Bank Malta plc0.7050.745-1.97-45.77
International Hotel Investments plc0.4900.4900.00-40.96
Lombard Bank plc1.7601.800-2.22-22.81
Loqus Holdings plc0.0650.0650.000.78
MIDI plc0.3660.3660.00-32.22
Medserv plc0.5000.4804.17-54.55
Malta International Airport plc4.6004.5201.77-33.33
Malita Investments plc0.8900.900-1.11-1.11
Mapfre Middlesea plc2.0002.0000.00-7.41
Malta Properties Company plc0.5100.4943.24-19.05
Main Street Complex plc0.4500.4500.00-25.00
MaltaPost plc0.9601.040-7.69-26.72
PG plc1.8801.8800.002.17
Plaza Centres plc1.0001.0000.00-0.99
RS2 Software plc2.1802.200-0.911.87
Simonds Farsons Cisk plc7.2007.2000.00-37.39
Santumas Shareholdings plc1.4901.4900.005.67
Tigné Mall plc0.7950.7950.00-11.67
Trident Estates plc1.5001.5000.00-3.23

* 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. 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]