MSE advances by

The MSE Equity Total Return Index increased by a minimal 0.02 per cent in December, closing 2019, 6.853 per cent higher, at 9,615.70 points. Turnover amounted to €3 million, spread across 22 equities, of which gainers and losers tallied at eight and six closed unchanged.

HSBC Bank Malta plc shares were the best performers in December 2019 - gaining 8.3 per cent, however registered the highest loss for 2019 - down by 29 per cent. The banking equity was active across 37 trades of 67,588 shares, and closed the month €0.10 higher at €1.30.

Bank of Valletta plc (BOV)

shares closed the month unchanged at €1.06, despite having reached a monthly high of €1.075, and a low of €1.015. BOV shares were the most liquid, having traded 181 deals of 685,698 shares. The equity fell by 12.3 per cent in 2019.

BOV announced that its US Dollar clearing provider has extended its service to March 31, 2020. For continuity purposes, the bank is close to reaching its final arrangements with other service providers.

The bank issued another announcement with reference to its interim directors’ statement dated October 28, 2019. This statement said that “the bank is actively seeking to raise additional Tier 1 Capital by the end of the year which will further strengthen its regulatory capital.” The bank stated that such issue is still ongoing and hence, Tier 1 capital shall be issued in 2020.

Moreover, the bank announced that on December 16, 2019, the Court of Appeal upheld the appeals filed by BOV and BOV Asset Management Ltd in a number of cases. Such cases related to an appeal BOV had filed last year, on March 14, 2018, relating to the decision given by the arbiter for financial services in relation to a number of La Valetta Multi Manager Property Fund claims.

Lombard Bank Malta

plc

shares increased by a marginal 0.9 per cent, as 3,796 shares changed ownership across three transactions, to close at €2.28 – down by 6.6 per cent in 2019. The directors of the bank shall meet on March 23, 2020, to consider, and if deemed fit, approve its audited accounts for 2019. During this meeting, a final dividend declaration shall be considered, which will then be recommended to the bank’s Annual General Meeting. The AGM will be held on April 23.

FIMBank plc

shares were the only losers in the banking sector, having declined by four per cent over 13 deals of 128,467 shares, closing at $0.60, and registering a 17.2 per cent loss for the year.

Malta International Airport plc shares declined by 3.5 per cent over 51 transactions of 40,381 shares, to close €0.25 lower at €6.90 – advancing by 19 per cent in 2019.

The local airport operator published its traffic results for November. An 8.7 per cent increase in passenger movements was registered when compared to the same month last year. November’s growth rate was one of the strongest year-todate increases, as a result of the airport’s strategy of stimulating further traffic growth in the offpeak months.

During November, passenger movements stood at 493,201 on the back of increases in both aircraft movements and seat capacity. Seat load factor for the month was recorded at 78.1 per cent.

November’s top markets were Spain, France, Germany, Italy and the UK. The growth rate for both Italy and Spain may be partly due to the introduction of Trieste and Santiago de Compostela routes for the season. The airport also launched two other routes, being Paphos in Cyprus and Nis in Serbia, as part of the winter schedule. In total, these four new routes resulted into over 10,460 passenger movements to November’s total traffic.

The telecommunications services provider GO plc¸ registered a 1.9 per cent increase in its share price, as 24 trades of 122,649 shares were negotiated, closing €0.08 higher at €4.26 – up by 7.6 per cent in 2019. GO plc announced that Innovative Software Limited, its fully-owned subsidiary, shall be amalgamated with the company itself through a merger procedure.

GO has executed an agreement with PCCW Global Ltd, which is incorporated in Hong Kong. This company, together with third parties, is working to construct, maintain and commercialise an extension trunk system to a new high-speed fibre optic submarine cable system with branches to a number of countries.

As per agreement, GO shall acquire from PCCW Global Ltd, the title and ownership and/or the indefeasible right of use of submarine and land infrastructure connecting Malta to France and Egypt and the associated operational and maintenance services, subject to