Slightly higher MSE index

The MSE Equity Total Return index made a marginal gain, closing up 0.05% at 8,040.399 points. A total of 13 stocks were active, where winners and losers totaled five per coin. The total weekly turnover has more than tripled, reaching 0.9 million euros, generated from 78 transactions.

In the banking sector, Bank of Valletta plc started the week on a negative note but managed to recover, reaching a weekly high of € 0.90 at which it closed.

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This equates to a positive movement of 0.6%. A total of 16 transactions involving 66,626 shares were executed.

HSBC Bank Malta plc ended the week up 1.3% as 31,570 shares changed ownership in seven trades. The bank ended the week at € 0.80.

Lombard Bank Malta plc fell 1.6% to € 1.87 on two transactions involving 1,000 shares.

Malta International Airport plc recorded total weekly turnover of EUR 0.2 million, with 30,478 shares spread over 18 transactions. A 0.8% price increase was recorded, as it closed up € 0.05 to € 6.40. Since the start of the year, the stock has been trading 3.2% higher.

The most liquid capital was RS2 Software plc, as it generated almost 60% of turnover this week. On Thursday, the stock hit a 15-month low of € 1.71, but managed to recoup most of the lost ground, as it closed at € 1.90.

A total of 325,141 stocks changed hands in 13 trades, dragging the price 1% into the red.

A single transaction of 585 GO plc shares did not change the previous closing share price of € 3.36. In contrast, its subsidiary BMIT Technologies plc traded seven times on a spread of 89,000 shares, to close down 2% at € 0.48.

Simonds Farsons Cisk plc tops the slaughterer list with a 5.2% price change, ending the week at € 8.25. This resulted in a price variation of 0.45 €. Six transactions involving 2,878 shares were executed.

The retail conglomerate, PG plc, traded twice as many as 4,357 shares, to close 0.9% lower at € 2.24.

Medserv plc traded once on low volume last Thursday and was unchanged at € 0.75.

Switching to the real estate sector, the two active stocks traded higher. MIDI plc tops the list of winners with a double-digit variation of 15.7%. Two transactions involving 7,233 shares pushed the price to € 0.428.

Likewise, Malita Investments plc closed up 3.6% on a transaction of 10,000 shares. The stock ended the week with a gain of € 0.03 and closed at € 0.86.

MIDI plc tops the list of winners with double-digit variation of 15.7%

Last Friday, Trident Estates plc held its 21st annual general meeting. The income statement and the statement of financial position for the year ended January 31, 2021 and the reports of the directors and auditors have been received and approved.

No trading activity was recorded during the week.

Loqus Holdings plc was active and closed unchanged at € 0.097, despite an intra-week low of € 0.062. Two transactions involving 1,570 shares were executed.

Last Friday, International Hotel Investments plc (IHI) released the Financial Analysis Summary. During the first half of 2020, the Group reacted quickly to the COVID-19 pandemic and implemented a wide range of health and safety measures while ensuring the sustainability of the Group.

Fiscal 2021 revenue is expected to increase by 24.9 million euros to 116.8 million euros due to an expected improvement in the hotel business and the consolidation of the results of Golden Sands Resort Limited following the acquisition by IHI of the remaining 50% stake in February 2021.

Management expects Corinthia St Petersburg and Corinthia London to recover faster than other hotels, primarily due to domestic tourism.

Such an increase in turnover should reverse a negative EBITDA of 3.8 million euros recorded in fiscal year 2020 to a positive balance of 11 million euros. Notwithstanding, after taking into account depreciation and amortization charges of € 30.3 million, financial charges of € 24.8 million and other net charges amounting to € 3.4 million, the Group should declare a loss before tax. € 47.5 million compared to € 90.4 million in the previous year.

Total assets for fiscal year 2021 are expected to amount to € 1,569 million, an increase of € 25 million from the previous year. Property, plant and equipment are expected to increase by 80.8 million euros, while cash and cash equivalents are expected to decrease by 9.3 million euros compared to 51.8 million euros in fiscal 2020.

Total liabilities are expected to increase by 45.1 million euros, resulting in an increase in the Group’s debt ratio from 42% in fiscal 2020 to 45%. The liquidity ratio is expected to remain relatively stable at 0.95 times compared to 0.92 times in fiscal 2020.

The action was not active during the week.

The MSE MGS Total Return index recorded a further decline of 0.4%, reaching 1,103.40 points. All 12 active issues closed in negative territory.

The 2.4% AMS 2041 (I) recorded the biggest price drop of 4.5%, as it closed at € 119.81.

The MSE Corporate Bonds Total Return index managed to recover, closing up 0.1% at 1,119.56 points. Of 28 active broadcasts, 11 went north while six others closed in the opposite direction. The best performer was 6% International Hotel Investments plc € 2024, closing up 2.9% at € 105.00. Conversely, the 3.75% Bortex Group Finance plc Unsecured € 2027 closed down 1.5% at € 99.50.

On the MTF Prospects market, five issues were active. The 5% European unsecured bonds of HH Finance Plc 2023-2028 were the most liquid, as they generated a total weekly turnover of € 11,343.

This article, compiled by Jesmond Mizzi Financial Advisors Limited, is not intended to provide investment advice and its content should not be construed as such.

The company is licensed to provide investment services by MFSA and is a member of the Malta Stock Exchange and the Atlas Group. Directors or related parties, including the company, and their clients may have an interest in the securities mentioned 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 [email protected]

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