The MSE index gains ground
The MSE Equity Total Return Index (MSE) gained 2.2% to end the week at 7,969.143 points. A total of 17 stocks were active, six of which headed north while six others closed in the opposite direction.
Weekly turnover increased from €0.2m to €0.7m and was generated through 134 transactions.
Simonds Farsons Cisk plc (SFC) topped the list of winners with a 7.3% increase, with equity closing at €8.85.
During the week, SFC stock fluctuated between a weekly low of €7.50 and a high of €9. A total of 19 trades worth €94,593 were executed. On Thursday, the board announced that the AGM would be held remotely on June 23.
The SFC has decided to propose for the approval of the General Meeting the capitalization of €1.8 million from the retained earnings of the company with a view to issuing up to 6 million fully paid-up ordinary shares with a nominal value of €0.30 per share, representing one free share for every five shares held.
On Tuesday, the MFSA approved the application for admission to listing for 6 million ordinary shares with a par value of €0.30 per share as well as proposed amendments to the memorandum and articles of association.
International Hotel Investments plc partially recouped the previous week’s loss as the share price jumped 4.3%.
Eight trades involving 91,288 shares were recorded, with equity closing the week at €0.73.
Among large caps, shares of GO plc joined the list of winners, with the stock gaining €0.08 or 2.6% to end the week at €3.20.
This is the result of 12 transactions involving 27,401 shares.
For their part, active banking stocks ended the week in the red.
Bank of Valletta plc traded at a weekly low of €0.86 and closed the week down 0.6% at €0.885. This is the result of 20 transactions worth €90,195. Last Thursday, the bank announced that the board had approved all resolutions on the AGM agenda.
Similarly, the price of HSBC Bank Malta plc (HSBC) fell 0.6% to close at €0.785. HSBC was the most liquid capital, after 32 transactions involving 210,539 shares generating a turnover of €159,319.
On Tuesday, HSBC announced a pre-tax profit of 4.8 million euros for the first quarter of the year, down 5.1 million euros from profits of 9.9 million euros published at the same period last year.
This decrease is the result of a lower result recorded by the insurance subsidiary of 4.9 million euros, reflecting the unfavorable impact of the market.
The bank reported improvements in net fee income thanks to increased activity in cards and payments and a strong performance in foreign exchange income.
Expected credit losses were broadly maintained at the levels recorded at the end of 2021. A marginal recovery was recorded for the retail business given the improvement in customer performance.
The bank continued to implement effective cost management discipline, which resulted in a decrease in operating expenses of €1.1 million compared to those recorded during the same period in 2021.
Net loans and advances to customers are slightly lower than those published at December 31, 2021. Customer deposits increased by €122 million compared to December 31, 2021.
Malta International Airport plc (MIA) closed at €6 after trading at a weekly low of €5.95.
Fifteen transactions worth €110,060 were executed.
Retail conglomerate PG plc’s trading activity was spread over four transactions involving 4,563 shares. The stock traded at €2.24.
In the real estate sector, Santumas Shareholdings plc was the only positive performance.
Equity increased by 5.5% and ended the week at €1.15. Two trades involving only 469 shares were executed.
Trident Estates plc topped the list of fallers as 2,767 shares changed hands in three deals. Shares closed at €1.33, translating to a weekly decline of 8.9%. The Board has announced that the AGM will be held remotely on June 24.
Four trades for 53,000 shares of Hili Properties plc resulted in a 4% drop in the share price. Shares ended the week at the €0.24 price level.
Similarly, AX Real Estate plc’s share price fell 0.9% to close at €0.545. This is the result of a single transaction worth €8,175.
Malta Properties Company plc traded at €0.52 as two trades for 1,730 shares were recorded.
It has announced that it has received MFSA approval for MSE official listing eligibility for a bond issuance program of up to €50 million which allows the company to issue up to €50 million in bond value. in one or more tranches until June 1, 2023.
The AMSF has also approved a base prospectus relating to this programme. In accordance with the program, final terms were also issued offering the first round and tranche under the program.
The offering is for €25 million of 4% covered bonds maturing in 2032. The bonds are expected to be listed on the MSE’s official list on July 7, 2022.
Ordinary shares of RS2 Software plc (RS2) recorded a positive movement of 0.6% to end the week at the price level of €1.64. Earlier this week, RS2 shares were trading at a weekly low of €1.56.
It was the result of four trades involving 6,950 shares.
Two contrasting sessions for BMIT Technologies plc canceled each other out, eventually closing the week unchanged at €0.484. Capital turnover reached €12,888 on two businesses.
Last Monday, MaltaPost plc’s share price fell 7.3% as two trades of 19,000 shares sent the share price down to the €1.02 level.
Mapfre Middlesea plc extended their losing streak, dropping another 1.5% to €1.93. Turnover of €1,100 was achieved in three businesses.
In terms of IPO activity, yesterday afternoon APS Bank plc closed the bank’s IPO offer period on its opening day. The bank took this decision following strong demand from the investing public.
Meanwhile, on Tuesday, Mediterranean Investments Holding plc (MIH) announced that it had received regulatory approval for the €30 million 5.25% MIH 2027 debenture issue. and existing bondholders of 5.5% MIH 2023 unsecured bonds.
LifeStar Insurance plc and LifeStar Holdings plc have announced that the companies’ annual general meeting will be held on June 24.
The MSE MGS Total Return Index fell 1.1%, closing at 977.496 points. A total of 15 shows were active, two of which advanced while 13 closed in the red. The MGS 2051 (I) at 1.80% was the best performer, as it closed up 3.2% at €96. In contrast, the 2.5% MGS 2036 (I) lost 3%, ending the week at par.
The MSE Corporate Bonds Total Return Index closed down 0.5% to 1,139.515 points. Out of 55 active shows, 20 saw gains while another 22 lost ground. The 4.65% Smartcare Finance plc Secured €2031 topped the list of winners, as it closed 3% higher at €103. Conversely, the 6% AX Investments Plc € 2024 share closed down 2.9% at €100.01.
On the Prospects MTF market, nine issues were active. The 5.75% Pharmacare Finance plc Unsecured EUR Bonds 2025-2028 was the most liquid with total turnover of €17,700.
This article, compiled by Jesmond Mizzi Financial Advisors Limited, is not intended to provide investment advice and its contents should not be construed as such. The company is authorized to provide investment services by the MFSA and is a member of the Malta Stock Exchange and the Atlas Group. The directors or connected persons, including the company, and their customers are likely to have an interest in the securities referred to in this article. For more information, contact Jesmond Mizzi Financial Advisors Limited at 67, Level 3, South Street, Valletta, tel. : 2122 4410, or send an e-mail to firstname.lastname@example.org.
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