Movement in Equity and Bond Indices:

The MSE Equity Total Return Index closed marginally lower, to end the week at 8,062.415 points. A total of 18 equities were active, as seven closed in the green, while another seven headed south. During the week, total turnover stood at €0.6m, as 115 transactions were executed.

The MSE MGS Total Return Index lost ground, as it closed 0.2% lower at 903.44 points. A total of 15 issues were active, as three registered gains and another nine closing in the red. The 4% MGS 2043 (I) headed the list of gainers, as it closed 5.2% higher at €104.99. On the other hand, the 3.4% MGS 2042 (I) ended the week 3.5% lower at €96.50.

The MSE Corporate Bonds Total Return Index decreased by 0.4% to 1,172.011 points. Out of 64 active issues, 20 registered gains, while another 24 traded lower. The best performance, that of 3.2%, was recorded by the 6% JD Capital plc Secured Bonds 2033 S2 T1, as it closed at €104.75. Conversely, the 4% Malta Properties Company Plc Sec € 2032 S1/22 T1 closed at €96, translating into a 3.5% decline.

 

Market Highlights:

Malta International Airport plc (MIA) joined the list of gainers, adding 1.8% to its share price. This was the outcome of 26 trades involving 23,044 shares, as the equity recorded the highest turnover of €131,579. MIA closed the week at €5.65.

Bank of Valletta plc witnessed a 1.5% decrease in its share price, closing at €1.30. Trading activity involved 17 trades, generating a total trading value of €54,029.

Mapfre Middlesea plc saw a significant decrease in its share price, ending the week at €1.25. This translated into a double-digit decline of 14.4%. Three transactions generated a total of €2,671 in turnover across 2,214 shares.

Similarly in the property sector, the price of Malita Investments plc retracted by 13.8%, closing at €0.50. During the trading week, the equity reached a weekly high of €0.57 and a weekly low of €0.492. Six deals of 46,080 shares were executed.

GO plc registered a negative 1.9% movement in its share price, closing at €3.10. A total of 14,590 shares exchanged hands across 12 deals, while generating a total turnover of €45,227.

Three transactions of 11,500 Malta Properties Company plc shares sent the equity’s price in the red, as the equity declined to the €0.34 price level, reflecting a decrease of 7.1%.

RS2 Software plc observed a 1.7% increase in its share price, closing at €1.17. Five trades of 53,502 shares generated €61,138 in turnover.

Hili Properties plc registered a positive 10.5% movement, ending the week at €0.21. Four deals worth €2,146 were executed.

The share price of Harvest Technology plc registered the best performance for the week, increasing by 63.9% to close at €1.18. A single transaction of 2,500 shares was executed.

A sole deal of just 200 Simonds Farsons Cisk plc shares pushed the share price 6.9% higher, ending the week at €7.

 

Company Announcements

MIA welcomed 465,482 passengers in the first month of 2024, exceeding the 400,000passenger mark in January for the first time since 2020. Passenger movements through MIA registered an upswing of 22.7% over 2023.

Aircraft movements totalled 3,511 in January, corresponding to a 23.4% growth when compared with the same month in 2023. While seat capacity increased by 27.4% over the reference year, load factor registered a drop of 2.8%, as average occupancy on flights stood at 74%. The top driver of traffic for January was Italy with a market share of almost 23%, followed by the United Kingdom, Poland, Germany and France.

The Airports Council International published a report which saw MIA ranking among the top five performing airports within the EU+ region.

MaltaPost plc held the AGM on February 9, 2024 during which all the ordinary resolutions on the agenda were approved for the financial year end September 30, 2023. A final net dividend of €0.02 per share was approved and will be paid on March 8, 2024 to shareholders on the companies share register as at close of business January 10, 2024. The shareholders have the option to receive such dividend in cash or by the issue of new shares.

Malita Investments plc has announced the issuance of a rights offer. This offer comprises a total of 65,825,806 new ordinary shares, each with a nominal value of €0.50 per share and at an offer price of €0.50 per share.

Each existing shareholder appearing on the register of members as of February 20, 2024, is being given the right to purchase four new ordinary shares for every nine ordinary shares held.

In terms of new bond issues the Accountant General is offering an aggregate nominal amount of €270m, with an over-allotment option up to €130m, of two new Malta Government Stocks. The 3.15% MGS 2027 (VII) and the 3.35% MGS 2029 (V) are being offered at par as from Monday, February 19, 2024.

 

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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]