Movement in Equity and Bond Indices:

The MSE Equity Total Return Index fell by nearly 1% and closed at 7,551.441 points. During the week 22 equities were active, as 12 declined and three gained. The drop in the equity index was mainly due to negative performances by RS2 Software plc, HSBC Bank Malta plc and Bank of Valletta plc. Trading turnover tallied €0.7m, as a result of 118 transactions.

The MSE MGS Total Return Index declined marginally by 0.02%, to end the week at 879.536 points. Out of 17 active issues, nine posted gains while another four declined. The best performing government stock was the 4.45% MGS 2032 (II) which experienced an increase of 3.6%, to end at €108.60. On the downside, the 3% MGS 2040 (I) suffered the biggest decline, as it dropped by 8.1% to end the week at €90.10.

The MSE Corporate Bonds Total Return Index ended the week 0.2% higher at 1,129.493 points. A total of 42 bonds were active, as 15 bonds advanced while 11 declined. The 4% Hili Finance Company plc Unsecured € 2027 ended the week as the best performer, gaining 4.2% to close at the €99 price level. On the other hand, the 4% Eden Finance plc Unsecured € 2027 suffered the biggest drop, as it declined by 1.5% to close at €98.02.

 

Top 10 Market Movers:

• RS2 Software plc trended 9.4% lower, as the equity headed the list of fallers. Twelve deals involving 113,985 shares were recorded. The company’s share price ended the week at €1.25. Since January the equity is down by 28%.
• HSBC Bank Malta plc declined further by 5.9%, finishing the week at €0.72. This drop in price was the outcome of 22 transactions worth €43,355.
• Bank of Valletta plc (BOV) shed 2.8% to close at the €0.885 price level. The bank’s shares were involved in 16 trades across 38,400 shares.
• The shares of Mapfre Middlesea plc experienced a decline of 6.3% to end the trading week at €1.50. The price decline was a result of four trades across 6,196 shares.
• Similarly, International Hotel Investment plc retracted by 1.4%, as 11 transactions involving 193,831 shares were executed. The equity ended the week at €0.70.
• APS Bank plc shed 2.4%, to close the week at €0.61. The banking equity traded three times on a volume of 10,800 shares.
• The equity value of Malta Properties Company plc (MPC) lost 5.9%, as 12,070 shares exchanged ownership over three trades. MPC closed the week at €0.494.
• LifeStar Holding plc declined by 5.3%, to close at €0.90.
• On the other hand, Grand Harbour Marina plc was this week’s best performer, as two trades across 2,750 shares pushed the equity price up by 67.1% to the €1.17 price level.
• Simonds Farsons Cisk plc shares gained 2% to end the week at €7.70.

 

Company Announcements:

• Malta International Airport plc (MIA) welcomed 0.6m passengers in October, recovering nearly 84% of the traffic it had handled in October 2019. The seat load factor for the month reached 86%, marking an increase of 3.7% over pre-pandemic levels.
• MIA approved the group’s financial statements for the period between January and September 2022. The group’s revenue totalled to €66.5m while the group’s staff costs increased by 46.1% over the same comparable period in 2021. This increase was driven by the discontinuation of the COVID-19 Wage Supplement in May 2022, as well as the resumption of recruitment to be equipped for the summer operation.
• VBL plc announced that on November 4, 2022, it executed the final deed of sale and purchase with Pace Brothers plc through which the company purchased and acquired a number of immovable properties. As part of the transaction, the vendor has become a shareholder of the company following the part payment of the purchase price by the company to the Vendor in ordinary shares.
• The board of PG plc announced that it shall be convening on November 29, 2022 in order to consider and approve the distribution of an interim dividend for the financial year ending April 30, 2023.
• Yesterday, MedservRegis plc published its interim report. The consolidated revenue for the nine-month period ended September 30, 2022 amounted to €47m, while the consolidated EBITDA amounted to €8.8m. The management is reasonably confident that the company is on track to exceed its forecasted results for the year.
• Last Thursday, Lombard Bank Malta plc held its Extraordinary General Meeting where all three extraordinary resolutions were approved. However, the ordinary resolution, where the bank was seeking authorisation to increase the issued share capital through the issuance of new shares, was not approved.
• Best Deal Properties Holding plc announced that it has received regulatory approval and been granted authorisation for the admissibility to listing of the €15m secured bond maturing between 2025 and 2027 with a coupon of 4.75%.

 

Market Movers by Sector:

 

Upcoming Events:

 

19 December 2022	MT: MaltaPost plc – Full-Year Results

 

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]