MSE Trading Report for Week ending 24 June 2022


MSE Equity Total Return Index: 

  • The MSE Equity Total Return Index extended its recent declines, as it settled at 7,702.730 points –a 1.7% fall. A total of 22 issues were active, nine of which headed north while another ten closed in the opposite direction. During this trading week, total turnover stood at €1.8, generated across 289 transactions.

    In the banking industry, Bank of Valletta plc shares added 1.6% to the previous week’s gain, reaching the €0.935 price level. This was the outcome of 17 deals involving 59,500 shares. Despite the increase in price, the equity fell as low as €0.90 during the week.

    Its peer, HSBC Bank Malta plc, gained 2% as turnover reached €110,280 over 10 transactions. The equity closed the week at €0.765.

    During its first week of trading, APS Bank plc was the most liquid equity, as 1.4m shares exchanged ownership over 171 deals, generating €0.96m in turnover. The equity added 6.5% to its share price, closing the week at €0.66. APS reached a weekly high of €0.70.

    Lombard Bank Malta plc (LOM) was active twice on 2,575 shares worth €4,638, dragging the share price 10.5% lower. The banking equity eventually ended the week at €1.70.

    The board of LOM held its AGM on May 26, 2022 wherein the bank’s bonus issue resolution was approved. The bank capitalised €149,226.50 from its Retained Earnings Account for the purpose of issuing 596,906 fully paid ordinary shares of a nominal value of €0.25 per share, representing one bonus share for every 75 shares. The bank thereby increased its issued share capital from 44,766,961 shares to 45,363,867 of €0.25 each fully paid up, resulting in a paid up capital of €11,340,966.75.

    No movement was noted in the share price of Malta International Airport plc, having traded flat at €5.95 over seventeen deals worth €113,669.


    Hotelier, International Hotel Investments plc (IHI) was this week’s worst performing equity. The equity plummeted by 21.3% to €0.59, a level last seen at the end of April 2022. This drop was a result of two trades on a volume of 10,000 shares executed during Tuesday’s trading session.

    GO plc share price notched upwards by 2%, to end the week at the €3.10 price level. Trading activity included the exchange of 7,387 shares spread over 10 trades. On a year-to-date basis, the company’s equity is trading 7.7% lower.

    The equity of BMIT Technologies plc increased by €0.01 or 2.1% to €0.48. The company’s shares were only active on Thursday, as one trade worth €4,800 was recorded.

    Similarly, FIMBank plc recorded a 4.6% decline in its share price, finishing the week at $0.21. Three deals for a total of 16,000 shares were executed.

    In the IT services sector, RS2 Software plc Ordinary shares and Preference shares declined by 3.8% and 2.6%, respectively. The company’s ordinary shares were active across six deals of 31,620 shares, ending the week at €1.52. Meanwhile, RS2’s preference shares finished the week at €1.50, as 7,500 shares exchanged hands across three deals.

    Harvest Technology plc traded in negative territory as it lost a significant 18% of its share price, closing at €1.22. This was the result of six deals worth €10,238.

    Simonds Farsons Cisk plc reached a weekly low of €7 on Wednesday, ultimately closing the week unchanged at €7.20.  Thirteen deals for a total of 17,116 shares worth €120,267 were executed.

    The company held its AGM last Thursday, where all resolutions were considered and approved.  A final net dividend of €0.1333 per ordinary €0.30 share was also approved, representing a dividend of €4m.

    M&Z plc recorded a 2% positive change in its share price, as six transactions of 65,000 shares pushed the equity to the €0.77 price level.

    On the other hand, PG plc lost ground by 2.7%, as it closed the week at €2.16. This was the result of four transactions involving 35,900 shares.

    The oil and gas logistics specialist, MedservRegis plc was the best performing equity during the week, closing 41% higher at €0.99. A total of 140,000 shares worth €101,167 exchanged hands across seven transactions.

    In the property sector, Malta Properties Company plc advanced by 1.2% to €0.50. This was the result of 15,157 shares executed across four deals.

    Similarly, AX Real Estate plc (AXR) added 1.8% to the previous week’s share price, ultimately closing at €0.56. A total of 54,838 shares exchanged ownership over three transactions.

    Last Thursday, the board of AXR declared and resolved to distribute a net interim dividend of €3.4m, equivalent to €0.0125 (net) per ordinary share, which will be paid on July 15, 2022.

    Furthermore, the board approved the financial results for the six-month period ended April 30, 2022. During the period under review, the group registered €4.4m in total revenue. This was primarily made up of €3.6m in rental income and €0.7m from the sale of property. As at April 30, 2022 practically all properties available for rent were leased out.

    Rental income from AX Group and related parties accounted for €3.3m, representing 90% of the rental revenues generated by the group. Operating costs amounted to €0.9m, and are primarily made up of €0.5m representing the cost of property sold, and administrative overheads of €0.4m. Staff costs including directors’ remuneration amounted to €0.2m. During the period under review, the group registered an operating profit of €3.4m, representing a margin of 77% over total revenue. Finance charges, including the interest on the newly issued 3.5% AX Real Estate plc 2032 bond, amounted to €1.6m. Profit before tax during the period under review amounted to €1.7m.

    Malita Investments plc (MLT) and Santumas Shareholdings plc (STS) ended the week in negative territory. This was the outcome of a sole transaction each involving 3,000 MLT shares and 9,662 STS shares. MLT finished the week 5.1% lower at €0.75 whilst STS closed at €1.00, down by 13%.

    A single transaction of 2,195 MaltaPost plc shares did not alter the previous week’s share price. The equity ended the week at €1.00.

    The share price of Tigne Mall plc declined by 7% to €0.65, as a result of a single deal of trivial volume.

    The board of Grand Harbour Marina plc has approved the entry into two loan notes with Camper & Nicholsons Marinas Limited in the aggregate amount of €2,682,000 (€450,000 under the first loan note, and an aggregate of €2,232,000 under the second loan). The loan notes will bear interest at the fixed rate of 5% per annum, where the first loan note is to be repaid in full, together with interest by March 31, 2027 and the second loan note is to be repaid in full, together with interest, by September 30, 2028.

    Yesterday, June 24, 2022 both LifeStar Insurance plc and LifeStar Holdings plc held their AGMs.

    Mapfre Middlesea plc is scheduled to meet on July 28, 2022 to consider and approve the interim financial statements for the half-year ended June 30, 2022.

    Mediterranean Investments Holding plc announced that upon closure of the issue period of the €30m 5.25% unsecured Bonds 2027, this has been heavily oversubscribed with applications received exceeding €50m in total value. In consequence, the Intermediaries’ Offer did not take place.

    The MSE MGS Total Return Index remained in negative territory, as it closed 0.05% lower at 934.704 points. A total of 13 issues were active, eight of which registered gains, while another five closed in the red. The 3% MGS 2040 (I) headed the list of gainers, as it closed 1.5% higher at par. On the other hand, the 2.4% MGS 2041 (I) ended the week 12% lower at €89.21.

    The MSE Corporate Bonds Total Return Index gained 0.03%, ending the week in the green at 1,141.249 points. Out of 45 active issues, eight registered gains, while another 22 traded lower. The best performance of 2.7% was recorded by the 5% Hal Mann Vella Group plc Secured € 2024, as it closed at €103. Conversely, the 4% Stivala Group Finance plc Secured € 2027 closed at €98.01- a 3.9% negative change.

    In the Prospects MTF market, nine issues were active. The 5% Busy Bee Finance plc Unsecured € 2029 was the most liquid, as it generated a total weekly turnover of €27,400.

Upcoming Events 
27 June 2022 MT: RS2 Software plc – AGM Best Performers:
28 June 2022 MT: PG plc – Board Meeting MDS +41.43%
28 June 2022 MT: Harvest Technology plc  – AGM APS +6.45%
28 June 2022 MT: Hili Properties – AGM BMIT +2.13%
30 June 2022 MT: Plaza Centres plc – Dividend Payment Date
Worst Performers:
IHI -21.33%
HRV -18.12%
STS -13.04%


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]