MSE Index ends the month in the red

Movements in Equity & Bond Indices

The MSE Equity Total Return Index (MSE) closed the month of December lower by 1.2% at 7,404.793 points. A total of 29 equities were active, 10 of which headed north while another 13 closed in the opposite direction. Total monthly turnover amounted to €1.5m, generated across 370 transactions.

The MSE Corporate Bonds Total Return Index ended the month 1% higher at 1,124.94 points. A total of 458 transactions generated a monthly turnover of €3.4m. The most liquid bond was the 3.5% Bank of Valletta plc € Notes 2030 S2 T1, where 35 transactions worth €0.8m were recorded. The bond closed the month at €82.

The MSE MGS Total Return Index

declined by 1%, to end the month at 884.463 points. The sovereign bonds’ market generated a total turnover of €2.7m across 140 deals. The bulk of trading took place in the 4% MGS 2032 (VII) which generated €1.1m in turnover.

Top 10 Market Movers

Bank of Valletta plc (BOV) had the biggest impact on the MSE’s negative performance. The banking equity registered a 5.8% negative movement in price, closing at €0.81. BOV was the most liquid equity, as 423,004 shares worth €358,567 exchanged hands across 80 deals.

Simonds Farsons Cisk plc lost 6.8%, to close the month at €6.85 and recording a year-to-date decline of 29%. A total of 9,856 shares were exchanged across 24 transactions.

International Hotel Investment plc experienced a 3.6% decline, as the equity closed at €0.675, €0.025 lower than last month’s closing price. Eight trades involving the exchange of 108,751shares were recorded.

FIMBank plc registered a negative 13.4% movement in price, as it closed at $0.19. A sole transaction involving 5,490 shares was executed. From a year-todate perspective, the equity declined by 44%.

RS2 Software plc touched a monthly low of €0.95 but managed to recover some lost ground to end the month at €1.19. Despite this recovery the equity still closed the month lower by 4.8%. A total of 150,160 shares changed ownership across 22 transactions.

HSBC Bank Malta plc trended 2.7% lower to the €0.71 level, as 30 deals worth €98,802 were recorded. During 2022, HSBC shares lost 22.8%.

MedservRegis plc recovered the previous month’s loss with a 20.7% gain to return to €0.785. A total of 48,333 shares exchanged hands across nine trades, as the equity traded between a monthly high of €0.785 and a low of €0.59.

(HSBC)

Similarly, MIDI plc erased the previous month’s decline, gaining 17.6% to close the month at €0.294. This was the outcome of 138,589 shares executed across nine transactions.

Mapfre Middlesea plc joined the list of gainers, as it registered a 6.7% increase in price to finish the year at €1.60. Total monthly turnover stood at €8,916 over seven deals involving 5,762 shares.

A total of 39,500 Hili Properties plc shares were traded over four transactions. The equity advanced by 9.1%, as it closed at €0.24.

Company Announcements BOV

debuted the international bond market with the issuance of a €350m callable senior non-preferred bond issue. Given their complexity, the notes were not available to the retail market, but could only be subscribed for by professional investors and eligible counterparties for a minimum of €100,000. The final maturity date of the notes is December 6, 2027. Subject to regulatory approval, the bank, as issuer has the right to call the notes in whole, but not in part, on December 6, 2026 at €100. The coupon was set at the fixed rate of 10% per annum. The Notes were rated by Fitch as BBB-.

International Hotel Investments plc announced that its operating arm Corinthia Hotels Limited has signed an agreement with Diriyah Gate Development Authority, to open a hotel in 2025 in Diriyah.

Hili Properties plc announced that following the acquisition earlier this year of 75% of the issued share capital of Baneasa Real Estate SRL, it has now entered into an agreement for the acquisition of the remaining 25%, which is expected to take place in August 2024.

PG plc confirmed that the final deed of sale in respect of the land known as ‘ta’ L-Istabar’ in the limits of Qormi, in turn forming part of the site named ‘Nylon Knitting’ has been executed for a consideration of €7m. The said property has now been added to the purchaser’s asset base, thus strengthening the property holding of the PG Group, of which the Company and the purchaser form part.

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 by the MFSA and is a Member of the Malta Stock Exchange and a member of the Atlas Group. 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 info@jesmondmizzi.com