MSE Trading Report for Week ending 15 July 2022

 

MSE Equity Total Return Index: 

 

 

Highlights:

 

The MSE Equity Total Return Index lost some of last week’s gain, as it closed 0.2% lower at 7,849.823 points. During the week, a total of 17 equities were active, as three closed in the green, while seven closed in the opposite direction. Total weekly turnover amounted to €0.5m, generated across 98 transactions, a significant decline when compared to last week’s €1.5m turnover.

The best performing equity was the telecommunications provider GO plc as the share price gained 3.4% to close at the €3.06 price level. This increase was a result of two trades on a trivial volume of 49 shares during Monday’s trading session. No further trades were executed during the rest of the week. Since the beginning of the year, the company’s share price has declined by 8.9%.

HSBC Bank Malta plc shares followed with a 3.3% gain, as the banking equity closed the week among the top performers. The bank’s equity value advanced by €0.025 to €0.785 per share. Trading activity included eight deals worth €29,348.

The share price of APS Bank plc (APS) shed 0.8% to end at the €0.66 level. The bank’s shares were active across all five trading sessions, as they changed ownership 28 times. APS was the most active equity, as trading volumes reached 220,906 shares with a trading value of €145,809.

FIMBank plc shares recorded the worst performance, as the share price dropped by 13.3% to $0.182. This steep decline was due to one small trade with a trading turnover of $102. The bank announced that the board will be meeting on August 18, 2022 to consider and approve the consolidated financial statements for the half-year ended June 30, 2022.

Bank of Valletta plc (BOV) closed unchanged at €0.92, as 19 deals with a volume of 118,960 shares were recorded. Total trading turnover tallied to €107,062. BOV shares fluctuated between an intra-week high of €0.92 and a low of €0.89.

Similarly, the equity of Lombard Bank Malta plc kept hold of the €1.90 price level, as seven trades across 42,511 shares were recorded.

The local airport operating company, Malta International Airport plc (MIA) trended 0.8% lower to close at €5.95. Six trades involving the exchange of 5,200 shares were recorded. On a year-to-date basis, MIA shares are 0.8% lower.

The June traffic results show that activity through MIA continued to exhibit an upward trend, with June passenger numbers further narrowing the gap created by the pandemic. With 603,532 passengers welcomed, marking a recovery of 83.6% of pre-pandemic traffic, June has so far been the airport’s busiest month since October 2019. This result was achieved on the back of a recovery of 80.8% in aircraft movements and a recovery of 82.3% in seat capacity. The seat load factor for the month of June increased by 1.4% over pre-pandemic levels to stand at a healthy 85.5%. Having registered a slight increase in market share over May 2022, Italy tightened its grip on the top spot of MIA’s market leaderboard. The United Kingdom, France and Germany also retained their positions from the previous month. On the other hand, June saw the return of Spain among the airport’s top five markets following an absence of seven months, as Poland dropped to sixth place.

Year-to-date traffic is roughly equivalent to full-year traffic for 2021. Between January and June 2022, 2.3m passengers travelled through MIA, translating to a recovery of 72.1% of the traffic handled during the first half of 2019.

MIA also announced that the board is scheduled to meet on July 27, 2022, to consider and, if deemed appropriate, approve the Group’s interim financial statements for the six months ended on June 30, 2022.

Simonds Farsons Cisk plc saw its share price drop by 0.7% on a mere volume of 428 shares. The equity ended the week at €7.45.

BMIT Technologies plc ended the week unchanged at €0.47. The company’s shares were active over a sole trade worth €470, spread over 1,000 shares.

In the property sector, VBL plc and Trident Estates plc were two of the worst performing equities during the week. VBL plc plummeted by 6.7%, to the €0.252 level. This decline was a result of one trade across 50,000 shares. Similarly, Trident Estates plc suffered a decline of 5.6%, as two deals with a total value of €493 forced the share price to close at €1.35.

On the other hand, AX Real Estate plc (AXRE) and Malta Properties Company plc (MPC) kept hold of the €0.55 and €0.505 levels respectively. Liquidity in both equities was low, as AXRE shares recorded a trading turnover of €605, while MPC recorded a trading turnover of €354.

Furthermore, MIDI plc rallied by 3% to the €0.34 price level. The company’s shares exchanged ownership nine times, with trading volume reaching 162,000 shares. Since the beginning of the year, MIDI plc shares have declined by 20.9%.

Loqus Holdings plc shares ended unchanged at last week’s closing price €0.19. Trading activity included four small trades across 3,155 shares. The company’s share price traded within tight ranges, at a weekly low of €0.18 and a high of €0.19.

The share price of Mapfre Middesea plc maintained the €1.79 level, as 5,126 shares exchanged hands over two deals. Turnover stood at €9,211.

M&Z plc shares were active during yesterday’s trading session, as three trades on a small volume of 1,700 shares pushed the equity’s price 0.7% lower to close at €0.75.

Meanwhile, in the bond market, the MSE Corporate Bonds Total Return Index rose by 0.2% to reach 1,146.807 points. Out of 53 active issues, 19 registered gains while another 18 declined. The 5.25% Mediterranean Investments Holding plc Unsecured € 2027 headed the list of gainers, as it closed 2.8% higher at €102.75. Conversely, the 4% Central Business Centres plc Unsecured € 2027-2033 lost 2.2%, as it closed at €98.01.

The MSE MGS Total Return Index shed 0.1%, as it dropped to 938.598 points. A total of 15 issues were active, six of which traded higher while seven declined. The best performance was recorded by the 1% MGS 2031 (II), as it closed 0.4% higher at €88.33. On the other hand, the 1.4% MGS 2024 (III) ended the week 6% lower at €101.20.

In the Prospects MTF market, four issues were active, recording a total turnover of €25,802. The 4.25% CC Finance Group plc Unsecured 2024-2026 was the most liquid, as a total weekly turnover of €19,000 was generated.

 

Upcoming Events 
15 July 2022 MT: AX Real Estate plc – Dividend Payment Date Best Performers:
28 July 2022 MT: Mapfre Middlesea plc – Interim Results GO +3.38%
28 July 2022 MT: MedservRegis plc – AGM HSB +3.29%
MDI +3.03%
Worst Performers:
FIM -13.33%
VBL -6.67%
TRI -5.59%

 

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. Jesmond Mizzi Financial Advisors Limited is acting as sponsoring brokers for the upcoming BNF Bank plc bond issue. For further information contact Jesmond Mizzi Financial Advisors Limited at 67, Level 3, South Street, Valletta, or on Tel: 21224410, or email [email protected]