MSE Trading Report for Week ending 5 July 2024

Movement in Equity and Bond Indices:

The MSE Equity Total Return Index returned to positive territory, posting a 0.05% gain to close at 8,203.493 points. A total of 19 equities were active, as three headed north while another seven closed in the opposite direction. Total turnover stood at €1.5m, traded across 168 transactions.

The MSE MGS Total Return Index posted a positive 0.04% movement, ending the week at 909.301 points. A total of 25 issues were active, seven of which registered gains, while another 17 closed in the red. The 3% MGS 2040 headed the list of gainers, as it closed 5.2% higher, at €94. On the other hand, the 2.1% MGS 2039 ended the week 1.8% lower at €79.49.

The MSE Corporate Bonds Total Return Index returned to negative territory, shedding 0.2% and closing at 1,179.976 points. Out of 51 active issues, 18 registered gains, while another 15 traded lower. The best performance, that of 2.8%, was recorded by the 4.75% Gap Group plc Secured € 2025 – 2027, as it closed at €100.01. Conversely, the 5.9% Together Gaming Solutions plc Unsecured Bonds €2024-2026 declined by 4.9% to €96.10.


Market Highlights:

RS2 Software plc shaved off 1.2% its share price, to close at €0.84, as a result of three deals worth just €5,674. The equity traded at a weekly high of €0.85 and a low of €0.80.

In the banking sector, Bank of Valletta plc was the most liquid equity, generating a total turnover of €396,734 as a result of 41 deals involving 275,257 shares. Despite trading at a low of €1.42, the equity managed to close with a 1.4% gain at a weekly high of €1.46.

Mapfre Middlesea plc headed south as a result of a sole transaction of just 70 shares. The equity closed at €1.33, reflecting a decline of 0.7%.

International Hotel Investments plc ended the week in the red, retracting by 3.7%. This was the outcome of 12 deals involving 96,207 shares worth €39,774.

PG plc joined the list of gainers, adding 2.1% to its share price. A total of 10 deals involving 84,650 shares worth €166,914 were executed. The equity ended the week at a high of €1.98.

Two deals of 63,200 Plaza Centres plc shares experienced a 4.8% fall in share price, closing at €0.60. Turnover for the week totaled €37,920.

The share price of Malta Properties Company plc experienced a 3.8% drop, closing at a weekly low of €0.308. This was the outcome of three deals worth €298.

Malita Investments plc was the best performing equity, adding 4.3% to its share price. The equity finished the week at €0.48, as seven deals involving 54,044 shares were executed. Despite the increase, the equity remains 18.6% down year-to-date.

On the other hand, Grand Harbour Marina plc headed the list of fallers, as a result of a single deal of trivial volume. The equity recorded a double-digit decline of 29.5%, ending the week at €0.62.

Simonds Farsons Cisk plc closed the week at a weekly low of €6.95, translating into a decline of 1.4%. A total of 1,420 shares exchanged hands across three deals, generating €9,930 in turnover.


Company Announcements:

The board of APS Bank plc is scheduled to meet on July 25, 2024, to consider and approve the consolidated interim financial statements for the six-month financial period ending June 30, 2024 and to consider the declaration of an interim dividend, if any.

The board of LifeStar Insurance plc and LifeStar Holding plc is scheduled to meet on July 8, 2024, to consider and if deemed appropriate, approve the Company’s audited financial statements for the financial year ended December 31, 2023. The Company plans to hold its AGM on July 31, 2024.

Grand Harbour Marina plc announced that all resolutions were approved at the Company’s AGM held on July 1, 2024.

The board of Hal Mann Vella Group plc announced that the Company has been granted approval by the MFSA for admissibility to listing of the €23m 5.35% Secured Bonds 2031 – 2034 on the official list of the MSE.

Melite Finance plc held its AGM during which shareholders approved all resolutions. Key issues discussed included the Company’s net assets falling below half its share capital and steps to address this by buying back and discontinuing the listing of its €9.25m secured bonds. The board resolved to apply for delisting from the MSE, contingent on approval from bondholders and the MFSA. A bondholders’ meeting is scheduled for July 23, 2024, to seek necessary approvals. If approved, bondholders will be offered a buyback at €100 per bond. The delisting and buyback process would proceed only if the company received acceptance by 95% of bondholders. 


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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 under the Investment Services Act by the MFSA and is a Member of the Malta Stock Exchange. The directors or related parties, including the company and their clients, are likely to have an interest in securities mentioned in this article. For further information contact Jesmond Mizzi Financial Advisors Limited at 67, Level 3, South Street, Valletta, or on Tel: 21224410, or email [email protected]