MSE Index maintains positive trend

The MSE Equity Total Return Index more than doubled May’s

0.716% gain, having appreciated by 1.826% in June, closing at 8,637.132 points - registering a 0.466% loss for the second quarter of 2018 (Q2). Turnover amounted to €5.3 million spread across 24 equities, of which 14 fell and seven gained ground.

HSBC Bank Malta plc shares headed the list of gainers having advanced by €0.12 or 7%, after having registered three consecutive monthly losses. The banking equity witnessed 68 trades of 339,539 shares, and closed Q2 1.1% lower at €1.84.

Bank of Valletta plc erased May’s 0.6% increase, having declined by 0.6% across the highest turnover of 182 deals of 558,997 shares, closing at €1.73 - ending Q2 at a 3.9% decline.

FIMBank plc shares extended their ongoing losing streak having registered a decrease for the sixth consecutive month. The trade finance bank’s shares fell by 2.9% as 145,436 shares changed ownership over 12 transactions, to close at a seven-week low of $0.505 - recording a 16.5% drop for Q2.

Lombard Bank Malta plc

closed unchanged at €2.28 as 14 trades of 113,319 shares were executed. The banking equity ended Q2 at a 5% loss.

The investments and insurance services provider plc registered a 14.7% loss in its share price as 5,974 shares changed hands over six deals, closing €0.05 lower at €0.29 - recording a 17.1% decline in Q2.

GlobalCapital

In the same sector, Middlesea plc shares partially erased May’s 7.4% rally, having slipped by €0.10 or 4.9% as 12 transactions of 27,381 shares were negotiated, to close at €1.94 - down by 7.6% in Q2.

Mapfre

Santumas plc shares fell by 12% across five deals of 20,114 shares, closing €0.18 lower at €1.32 - registering a 12% loss in Q2.

Shareholdings

Malta International Airport plc (MIA) shares partially

reversed the previous month’s 3.3% gain, having shed 0.4% as 50 trades of 72,058 shares were concluded. The local airport operator’s share price oscillated between a monthly high of €5.05 and a low of €4.82, to ultimately close at €4.98 - up by 1.6% in Q2.

MIA published its monthly traffic results for May, showing that the company continued on the positive trend set out in the earlier months of 2018. The passenger traffic figure stood at 643,089 passengers during May, translating to a 17.3% upsurge over the same month last year. This growth in passenger numbers was driven by a 16.6% increase in aircraft movements and a 17% increase in seat capacity, while seat load factor was marginally up to 80.6%, registering an increase of 0.1 percentage points. The top contributors for the month were the United Kingdom, Italy, Germany, France and Spain.

International Hotel Investments plc shares added to May’s 1.6% increase, having advanced by 4.8%, as 68 transactions of 455,364 shares were negotiated, closing €0.03 higher at €0.66 - up 6.5% in Q2. The company held its Annual General Meeting (AGM) on June 5, 2018, during which all resolutions on the agenda were approved. The company also announced that a net dividend of €0.02 per share will be paid on July 16, 2018 to all registered shareholders as at June 30, 2018.

RS2

Software

plc

(RS2)

shares partially recouped May’s 7.9% loss, having appreciated by €0.07 or 6% as 294,467 shares changed ownership over 46 deals, to close at €1.24 - registering a 13.3% loss in Q2. The I.T. services provider announced that all ordinary resolutions were approved (including the Special Business resolutions) at the AGM held on the same day. Among the resolutions, a net final dividend of €0.0146 per Ordinary Share amounting to €2,504,303 as recommended by the Directors was approved for payment on June 26, 2018.

RS2 issued an interim directors’ statement providing the market with some updates on recent developments. In its interim directors’ statement RS2 reported that the group has successfully formed a strategic alliance and a processing services agreement with a large player in the travel and tourism industry, to deliver global acquiring services to international airlines, travel agents, hotels and car rentals in various regions.

The group also signed a threeyear processing agreement with Finanfarma in Portugal and another agreement with a European partner to offer non-EU processing and global acquiring services.

Furthermore, the group is in final stages of concluding a managed services agreement with a major player in the ASEAN region considered as a leading payment service provider operating across various countries in Asia Pacific. The group is also concluding another processing agreement with a US payment services provider to process their business in the European market.

In the same sector, Holdings plc shares closed unchanged at €0.10 for the second consecutive month, as four trades of 14,850 shares were executed.

Loqus

The I.T. equity registered a 25.9% loss for Q2.

Medserv plc shares added to May’s 4.6% decline, having decreased by 4.8% over 16 transactions of 69,156 shares, closing €0.05 lower at €1. The oil and gas logistics services operator’s shares recorded a 9.1% loss in Q2. serv announced that it has signed a second contract with a multinational oil and gas corporation to provide Shore Base Logistics services for exploration activities taking place offshore Cyprus. To provide these services, the company shall be setting up additional logistics facilities in the port of Limassol. This contract shall be serviced through the group’s internal resources. The award of this contract is another major step to broaden the group’s oil and gas client portfolio.

SFC’s Estates plc‘

Med-

Simonds Farsons Cisk plc (SFC) shares finally halted their

losing streak having registered a 5.3% increase after having recorded seven consecutive monthly losses. The food and beverage supplier’s shares were active on 20 deals of 31,647 shares, closing €0.35 higher at €6.90 - down 0.7% in Q2. All ordinary resolutions were approved during the company’s AGM which took place on June 21, 2018. Among these resolutions, a final net dividend of €2,600,000 paid out of tax exempt profits equivalent to a net dividend of €0.0866 per ordinary share as recommended by the Directors, was approved.

spin-off Trident s (Trident) shares registered a decline for the fourth consecutive month, having sagged by 3.1% across 23 trades of 99,153 shares, to close €0.04 lower at €1.27 - recording the worst performance for Q2, having stumbled by 33.2%.

Trident held its AGM on June 27, 2018 during which all resolutions on the agenda were approved, including the financial statements for the year ended January 31, 2018, the appointment of the company’s auditors, and the approval of the aggregate amount of emoluments payable annually to all directors.

Malta Properties Company plc shares fell by 5.5%, after having registered a 17.5% rally in May. The equity was negotiated over 11 transactions of 43,122 shares and closed €0.03 lower at €0.52 - up by 10.6% in Q2. The company held its AGM on June 13, 2018 at which all the Ordinary Resolutions on the agenda were approved, and the Board of Directors were appointed/elected.

In the same sector, MIDI plc shares stayed faithful to their ongoing winning streak, having registered an increase for four consecutive months. The equity swayed between a high of €0.478 and a monthly low of €0.42, but ultimately closed at €0.476 as 48 trades of 998,337 shares were concluded. MIDI shares registered the best performance for the month and Q2, having soared by 9.7% and 37.6% respectively.

MIDI announced that it has entered into preliminary discussions with Tumas Group Company Limited to explore the possibility of establishing a joint venture with respect to the development of Manoel Island. The discussions are at a preliminary stage and may or may not result in a transaction. Any eventual agreement will be subject to the company’s contractual obligations and any necessary regulatory and shareholder approvals in terms of law. Throughout the process, the company will communicate material updates, if any, in accordance with regulatory requirements.

In the company’s AGM held on June 27, 2018, the audited financial statements for the financial year ended December 31, 2017 and the final net dividend of €0.007 per share were approved, together with the board of directors, the reappointment of the auditors, and the maximum annual aggregate remuneration for all directors.

Malita Investments plc shares followed suit, having locked in an increase for the third consecutive month. The property management equity was executed across 24 deals of 269,312 shares and closed 3% higher at €0.865 - up by 8.1% in Q2.

Main Street Complex plc shares partially erased May’s 7.7% rally, having declined by 4.3% as 31,200 shares changed ownership over eight trades, to close €0.03 lower at €0.67. The shopping mall owner has registered a 3.1% increase in its share price since its initial public offering last May.

Tigne’ Mall plc (Tigne’) shares reversed the previous month’s 3.2% increase, having decreased by €0.03 or 3.1%, as 29 transactions of 324,994 shares were negotiated, closing at €0.95 - registering no change for Q2. held its AGM on June 25, 2018, during which the audited financial statements for the year ended December 31, 2017 were approved, as was the final net dividend of €0.0128 per ordinary share as recommended by the directors. The auditors, the directors and the maximum

Tigne’

annual aggregate directors’ emoluments were also approved during the meeting.

In the same sector, shares closed unchanged at €1.04, despite having reached a monthly high of €1.07 as 12 deals of 172,700 shares were executed. The equity recorded a 1.9% decline in Q2.

Plaza Centres plc

GO plc shares ended the month in the red for the third consecutive time, having slipped by €0.06 or 1.8% over 34 trades of 88,318 shares. The telecommunications services provider’s shares closed at a 23-week low of €3.34 - down by 4.6% in Q2.

MaltaPost plc shares fell by 5.6%, as 9,270 shares changed hands across five transactions, closing €0.10 lower at €1.70 - recording a 8.6% decline in Q2.

The retail and supermarkets owner, managed to recoup the 1.5% loss registered in its share price in May, having advanced by 3.9%. The equity witnessed 31 transactions of 301,385 shares and closed €0.05 higher at €1.33 - down by 2.2% in Q2.

PG plc

Grand Harbour Marina plc shares closed the month unchanged at €0.75 for the second consecutive month, despite having traded at a monthly high of €0.79. The equity was active on three deals of 4,357 shares, and recorded a 2.7% increase in Q2.

In the corporate bond market, turnover amounted to €8.5 million and was spread across 50 issues, of which 20 gained ground and 23 fell. The 5% GlobalCapital plc Unsecured € 2021 was the top performer having increased by 2.3%, closing at €101.85, while the 6% International Hotel Investments plc € 2024 headed the list of fallers, having slipped by 5.3%, to close at €103.60.

In the sovereign debt market, 26 issues were active, of which 12 appreciated and 13 decreased over a total turnover of €15.4 million. The 2.1% MGS 2039 (I) was the most liquid issue, having witnessed a turnover of €2.3 million, to close 0.2% higher at €100.69.