MSE Trading Report for Week ending 09 December 2022
| Movement in Equity and Bond Indices: |
The MSE Equity Total Return Index lost ground by 2.2%, reaching 7,356.595 points. Total weekly turnover declined slightly to €191,538, as a result of 55 transactions. A total of 16 equities were active, three of which headed north, while another seven closed in the opposite direction.
The MSE MGS Total Return Index lost ground, as it closed 0.4% lower at 893.418 points. A total of 11 issues were active. The best performance was recorded in the 4.5% MGS 2028 (II) issue, as it closed 0.3% higher at €108.59. On the other hand, the 2.4% MGS 2041 (I) closed 2.2% lower at €89.
The MSE Corporate Bonds Total Return Index recovered by a further 0.17% to 1,115.616 points. There were 46 active issues during the week, as the 4% International Hotel Investments plc Secured € 2026 headed the list of gainers, closing 4.8% higher at €97.50. Conversely, the 3.75% TUM Finance plc Secured € 2029 closed 6.7% lower at €90.50.
| Top 10 Market Movers: |
RS2 Software plc (RS2) was one of the main equities that contributed to a negative performance in the local equity market. RS2 registered a 17.7% decline, closing at a four-year low of €1.02. This was the outcome of a sole deal of 1,447 shares executed in the final minutes of trading on Friday.
Bank of Valletta plc (BOV) registered the highest liquidity, as 104,832 shares generated a total turnover €90,154. The bank registered a 4.5% decline, closing at a weekly low of €0.85.
Similarly, GO plc recorded two transactions of just 330 shares. The telecommunications company declined by 6.3% to the €2.70 price level, a price last seen seven years ago.
The share price MedservRegis plc retracted by 9.2% to close the week at €0.59. This was the outcome of two deals involving 11,130 shares worth €6,582.
MaltaPost plc shares have also registered double-digit losses, having retreated by 10.9% over the week to close at €0.98. The equity was active on Monday, as seven deals worth €19,048 were executed. From a year-to-date perspective, the equity lost close to a fifth of its market value.
On Tuesday, the share price of Malta International Airport plc eased by 0.9% to the €5.70 price level, trading flat throughout the week. A total of 2,082 shares exchanged ownership across two deals.
A sole deal of just 10 Malita Investments plc shares dragged lower by 4.1% to €0.70.
On the other hand, Mapfre Middlesea plc was up by 3.3% as 3,762 shares changed hands over three deals. The equity ended the week at €1.55.
The banking equity, HSBC Bank Malta plc closed the week in the green at €0.75, a positive 2.7% movement in price. Four deals involving 12,642 shares were executed.
Malta Properties Company plc traded 3.2% higher, as 6,976 shares were dealt across three transactions. The equity ended the week at €0.51.
| Company Announcements: |
BOV informed the market that the bank was granted approval by the Central Bank of Ireland of a euro medium term note programme and providing for the issuance of notes up to a maximum aggregate principal amount of €500m.
Given their complexity, the notes were not available to the retail market, but could only be subscribed for by professional investors and eligible counterparties for a minimum of €100,000. The final maturity date of the notes is December 6, 2027. Subject to regulatory approval, the bank, as issuer has the right to call the notes in whole, but not in part, on December 6, 2026 at €100. The coupon was set at the fixed rate of 10% per annum. The Notes were rated by Fitch as BBB-.
International Hotel Investments plc announced that its operating arm Corinthia Hotels Limited has signed an agreement with Diriyah Gate Development Authority, to open a hotel in 2025 in Diriyah.
Malta International Airport plc’s (MIA) November traffic amounted to 433,621 passengers. This total translates to a recovery of 87.9% of pre-pandemic traffic, which is the strongest recovery rate MIA has registered so far. The number of seats available on flights to and from MIA remained at 19.9% below 2019 levels. On the other hand, the seat load factor (SLF) gained 7.7% points, reaching an all-time high occupancy rate for November of 85.8%.
LifeStar Holding plc announced that all resolutions presented at the company’s EGM on December 5, 2022, were approved.
The board of GAP Group plc announced that the company received regulatory approval for the issue of up to €23m 4.75% Secured Bonds 2025 – 2027.
| Market Movers by Sector: |
| Upcoming Events: |
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]