MSE Trading Report for Week ending 14 April 2023

Movement in Equity and Bond Indices:

The MSE Equity Total Return Index gained a further 0.9%, as it reached 7,469.953 points. A total weekly turnover of €0.7m was generated across 91 transactions. Out of 18 active equities, 10 closed higher while another four ended the week in the red.

The MSE MGS Total Return Index did not manage to maintain the previous week’s gain, as it lost 0.6%, to close at 882.216 points. Out of 19 active issues, five headed north while another 10 closed in the opposite direction. The 3% MGS 2040 (I) was the best performer, as it closed 1.9% higher at €92. On the other hand, the 2.3% MGS 2029 (II) ended the week 5% lower at €95.

The MSE Corporate Bonds Total Return Index fell by 0.1%, as it closed at 1,137.696 points. A total of 48 issues were active, 12 of which advanced while another 22 traded lower. The top performer was the 5.9% Together Gaming Solutions plc Unsecured Callable Bonds € 2024-2026, as it registered a 5.2% increase, ending the week at €100.99. Conversely, the 4% MeDirect Bank (Malta) plc Subordinated Unsecured € 2024-2029 lost 5.3%, as it reached the €89.05 price level.

 

Market Highlights:

The positive performance of Bank of Valletta plc (BOV) had a significant impact on the MSE Index’s performance. The equity advanced by 2.2% to close the week at €0.92. BOV was the most liquid equity, as 32 deals of 236,642 shares generated €214,269 in turnover.

Its peer HSBC Bank Malta plc managed to close in positive territory, as 15 transactions worth €96,000 were recorded. The banking equity finished the week at €1.02, higher by 2%.

The share price of Simonds Farsons Cisk plc followed suit, gaining 3%, as seven deals of 22,935 shares worth €158,274 were executed. The Company’s share price ended the week at €6.95.

Mapfre Middlesea plc registered a positive 3.1% movement in its share price, to close at €1.69. The equity was active across two deals of trivial volume.

Retail conglomerate, PG plc, ended the week 1.5% higher at €1.99. A total of 33,000 shares were executed across seven deals.

A single transaction of 175 International Hotel Investments plc shares pushed the share price 0.9% higher. The equity closed the week at €0.585.

Tigne Mall plc enjoyed a positive 5.6% movement in price, closing the week at €0.75. This was the outcome of a single transaction involving 25,000 shares.

GO plc gained 0.7%, as 1,490 shares were spread across four transactions. The equity closed the week at €2.86.

Despite announcing positive traffic results, the share price of Malta International Airport plc (MIA) headed south. The equity declined by 1.8%, ending the week at €5.55 as a result of 10,255 shares spread across five transactions.

Similarly, the share price of Hili Properties plc retraced by 3.6%. This was the outcome of a single transaction involving 12,030 shares. The equity ended the week at the €0.212 price level.

 

Announcements:

The board of Harvest Technology plc has approved the audited financial statements for the financial year ended December 31, 2022. During the year, the group registered an operating profit of €2.1m on revenue of €16.3m. Profit before tax stood at €2.06m, circa €0.9m less compared to what the group was expected to achieve. The group registered a profit after tax of €1.3m, down from €2.7m in 2021. The board has resolved to distribute a net dividend of €113,903 equivalent to €0.005 per share.

MIA issued the traffic results of March and Q1 2023. March brought MIA’s busiest ever first quarter to a close, during which 1.2m passengers walked through the terminal’s doors. Of this total, 487,117 passenger movements were registered in March, marking an increase of 2% over pre-pandemic figures. This upward trend has been driven by the release of pent-up demand for air travel, which has also been reflected in high seat load factors over the past months.

APS Bank plc announced that the forthcoming market briefing will be held on April 27, 2023.

 

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]