MSE Trading Report for Week ending 12 November 2021

• The MSE Equity Total Return Index (MSE) gained 1.3% to close above the 8,000 points level, as turnover jumped to €0.5m, up from €0.2m last week. Among the large caps, gains in International Hotel Investments plc (IHI), GO plc and HSBC Bank Malta plc (HSBC) shares lifted investors’ sentiment, as gainers outweighed losers. In fact, a total of 22 equities were active as, 12 gained and five declined. In terms of activity, Bank of Valletta plc (BOV) shares were the most active while Malta International Airport plc (MIA) Since the beginning of the year the MSE is down by 5.4%.
• The hotels’ operator IHI gained nearly 6% to close at the €0.63 price level. A small volume of 1,750 shares worth €1,043 was recorded. On a year-to-date basis, the company’s equity is down by 12.5%.
• Telecommunications company, GO plc trended 2.5% higher to the €3.34 level after touching a weekly low of €3.26. A total of 9,820 shares exchanged ownership over 11 transactions.
• It’s subsidiary BMIT Technologies plc followed its parent company, as it also advanced by 2.5% to capture the €0.496 price level. Nine trades with a value of €23,551 were recorded.
• HSBC Bank Malta plc managed to record a positive 1.25% performance on a volume of 33,901 shares across seven deals, with a value of €27,866. The bank’s shares closed at €0.81.
• Yesterday the bank reported a profit before tax of €25.2m for the nine-month period ended September 30, 2021. This represents an increase of €13m over the same period last year, while adjusted profits amounted to €28.6m compared to €12.2m reported in the same period last year. Year-to-date revenues were €5.8m higher than those reported in Q3 2020. The increase in revenue is mainly attributable to higher insurance income, partially offset by a decrease in interest income.
• In the same sector, Bank of Valletta plc shares had a rough start to the week, as during Monday’s trading session the equity’s price dropped by 6.9% to €0.80. This decline was quickly recovered on Tuesday and closed unchanged at €0.87 for the rest of the week. Trading activity tallied to 29 trades of 143,870 shares.

• Meanwhile, Lombard Bank Malta plc saw its shares increase in value by 1.1%. This increase was the result of two trades of 48,133 shares, to end the week at the €1.85 price level.
• On the downside, MedservRegis plc was the worst performing equity, as during yesterday’s trading session it plummeted by 5.8% to the €0.65 price level on a volume of 20,220 shares.
• The share price of MIDI plc lost 0.5% as a result of seven trades with a total turnover value of €9,425 to close the week at €0.398. Since January, the company’s shares suffered a decline of 11.2%.
• Lifestar Holding plc jumped by 25% during Wednesday’s trading session, while the equity did not trade for the rest of the week. Two trades on a volume of 1,000 shares ensured that the company’s share price ended as the best performing equity for the week at €0.80.
• Last Tuesday, the board of LifeStar Holding plc held the company’s Annual General Meeting, where all resolutions which were presented for the consideration of the shareholders were approved.
• The equity of Harvest Technology plc ended the week unchanged at €1.50. The company’s equity traded five times across 16,092 shares having the share price fluctuate between €1.50 and €1.51.
• Malta International Airport plc shed 1.7% during this week’s trading, as the exchange of 16,649 shares pushed the price lower to €5.90 after trading at a weekly high of €6.10. A total of 17 trades worth nearly €100,000 were recorded.
• Yesterday, MIA announced that 428,426 passenger movements were registered last month, as October became MIA’s best performing month since the outbreak of the pandemic. Despite this encouraging result, which can be partly attributed to the easing of more entry restrictions by government and the mid-term holiday effect, last month’s traffic was still 39.1% lower than October 2019 levels. This decline in passenger numbers over October 2019 was registered in parallel with a drop of 28.5% in aircraft movements and a decrease of 27.7% in seat capacity. The company added that the United Kingdom, which simplified testing requirements for fully vaccinated travellers at the beginning of October, continued to top the list of MIA’s best-performing markets, registering just over 110,800 passenger movements. Italy, Germany, France and Spain followed the United Kingdom with a cumulative total of 170,991 passenger movements.
• On the contrary, Mapfre Middlesea plc increased by 3.8% to the €2.20 price level albeit on trivial volume.
• Both, Malta Properties Company plc (MPC) and Tigne’ Mall plc both closed unchanged at the €0.57 and €0.80 price level respectively. MPC suffered higher volatility, as the share price fluctuated between a low of €0.525 and a high of €0.58, as six trades involving a volume of 22,662 shares were recorded. On the other hand, Tigne’ Mall plc traded flat, with 10,100 shares exchanging hands over four trades.
• The local postal operator MaltaPost plc gained 1.6% on five deals worth €35,373. The equity closed at €1.26.
• Similarly, PG plc ended the week in the green, as the share price added 1.6% to close at the €2.48 level. A mere volume of 255 shares was recorded.
• The shopping mall company Plaza Centres plc lost 2% to end at the €0.975 price level on one small trade worth €1,239.
• RS2 Software plc trended 1.2% higher to €1.72, as three trades across 12,000 shares were recorded. The company’s preference shares traded flat and ended the week €1.67.
• Simonds Farsons Cisk plc shed 0.6% during Monday’s trading session, as one trade over a mere 700 shares dragged the equity to €8.30.
• Trident Estates plc and VBL plc both closed the week in the green at €1.52 and €0.30 respectively. The former traded four times across 2,000 shares, whilst the latter traded once over 1,000 shares.
• FIMBank plc announced that during the Banks’s board meeting held on November 10, 2021 a resolution was passed to close its branch in Athens. The decision forms part of the Group’s revised strategy, which is intended to focus on consolidation in selected markets. No trading took place in the banking equity during the week.
• In the Corporate Bond Market 50 issues were active, as 147 trades worth €1.3m were executed. The 75% Tumas Investments plc Unsecured 2027 was the most active, as turnover in this bond reached €0.2m to close the week at €100.50. Last Wednesday, Central Business Centres plc announced that the €21,000,000 4% Unsecured Bonds 2033 have been granted admission to the official list of the MSE, while trading commenced last Thursday. The issue closed the week at €101.49. On the week, the MSE Corporate Bonds Total Return Index closed slightly higher at 1,145.945 points.
• On the Sovereign Debt front, turnover reached €2m across 58 transactions. 18 issues were active, as the long-dated 4% MGS 2041 took the lion’s share with turnover in this bond reaching over €0.8m. The 20-year bond closed the week at €120. The MSE MGS Total Return Index closed the week marginally lower at 1,097.832 points.
• In the Prospects MTF market two issues were active. The 5% Busy Bee Finance plc Unsecured 2029 closed at 101.51, as four transactions worth €23,000 were executed. The 35% D Shopping Malls Finance plc Unsecured 2028 ended the week at €90.

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]