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The stock market index up for a fourth consecutive week

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The MSE Equity Total Return index recorded a further increase of 0.4%, closing higher for the fourth time in a row, reaching 8,275.375 points. A total weekly turnover of € 0.4 million was achieved over the four trading days.

Of 15 active stocks, four headed north while another eight closed in the opposite direction.

Malta International Airport (MIA) announced the traffic results for the month of May. As the Maltese Islands moved closer to reopening travel and tourism, MIA recorded 75,420 passenger movements in the month following that recovery.

This total for May translates to a drop of 88.8% from the same month in 2019, but marks a slight improvement over the first four months of 2021, in which monthly passenger movements have consistently remained below the bar. of the 40,000.

The main markets in May were Italy, Germany, France, Poland and Turkey, with results from these markets being driven by the relaxation of some restrictions on travel from Malta and the resumption of flights to a number of regional airports.

Turkey, on the other hand, remained an important connecting hub for passengers who could not travel directly to their final destination due to the restrictions in place.

The seat load factor for the month of May was 62%. The airport expects the seat capacity deployed by airlines in June to more than double the capacity in May, as passenger demand is expected to gradually start to recover.

The stock traded at a weekly low of € 6.30 but managed to recover to close at € 6.40. A total of 11 transactions involving 10,953 shares were executed.

Bank of Valletta plc was the most liquid, generating a total weekly turnover of € 0.1 million. A price increase of 2.2% was recorded when it closed at 0.92 €. This is the result of 136,794 shares spread over 18 transactions.

Yesterday, HSBC Bank Malta plc announced a strategic initiative to further improve its operational structure, leveraging the HSBC Group operating models, in order to gain efficiency and improve the customer experience. The strategic initiative focuses on the transformation and automation of certain areas within the bank, but also on a planned transfer of a number of employees and activities to a local service provider.

To achieve this, the bank is proposing the launch of two voluntary redundancy plans (the “plans”) which will have an impact on a limited number of areas of the bank, subject to the MUBE agreement.

The restructuring costs to make these changes will be recognized in the 2021 financial results, but since the arrangements are voluntary, the amount will depend on the number of applicants. The bank will make another company announcement in due course.

Four transactions involving 6,574 shares brought the price down 2.9% to € 0.825.

Lombard Bank Malta plc posted a double-digit gain of 12.2% as three trades involving 2,623 shares were executed.

Yesterday, FIMBank plc announced that Fitch Rating has released its latest rating on the Bank, downgrading the long-term issuer default rating (IDR) to “B” from “B +” and the sustainability rating (VR) to “B” of “b +”.

HSBC Malta announces strategic initiative to further improve its operational structure

According to Fitch, the downgrade reflects increased pressures on the Bank’s business model, performance and capitalization. In particular, Fitch believes that increased pressure on the Bank’s performance is due to declining margins and constraints on business growth given the low capital reserves compared to regulatory minima.

Without a doubt, the past year has been difficult for the Bank and the industry as a whole, but throughout the year FIMBank plc has maintained a strong CET1 capital of 18.5% as of December 31, 2020 and a Short-term liquidity ratio of 241% as of December 31, 2020.

After having gone through a turbulent year, the bank believes that its defined strategy will allow sustained growth and that the continued success of bad debt collection will further improve the strength of the organization. No trading activity was recorded during the week.

Telecommunications company GO plc lost 1.2% to € 3.36 as 11,594 shares changed hands in 12 trades.

Meanwhile, BMIT Technologies plc was active but closed unchanged at € 0.50. Three transactions involving 17,000 shares were executed.

RS2 Software plc ended the week down 1.5%, hitting a one-month low of € 1.95. A total of 9,100 shares changed hands in three trades, which equates to a price change of € 0.03.

In the real estate sector, three stocks were active. MIDI plc was the best performer, closing up 20% at € 0.42. Six transactions involving 40,250 shares were executed. On the other hand, Malta Properties Company plc closed slightly in the red at € 0.55, which equates to a movement of 0.9%. This is the result of 51,051 shares spread over 11 transactions.

Meanwhile, Trident Estates plc was active but closed unchanged at € 1.50.

Retail conglomerate PG plc posted a double-digit gain of 10.5% on thin deals. Since the start of the year, equity has increased by 16%. In contrast, Simonds Farsons Cisk plc traded down 2.8% to end the week at € 8.70. Three transactions involving 4,313 shares were executed.

Two transactions involving 1,711 MaltaPost plc shares resulted in a negative price movement of 4%. The share ended the week at € 1.19. Likewise, a single transaction of 14 Mapfre Middlesea plc shares resulted in a negative price movement of 6.8%. The action ended the week at € 2.18.

A single trade in shares of Harvest Technology plc resulted in a negative price change of 1.9%. The action closed down € 0.03 to € 1.53.

Last Thursday, International Hotel Investments plc held its 21st annual general meeting. All the resolutions on the agenda were approved. The action was not active during the week.

The MSE MGS Total Return index rose 0.29% to 1,120.05 points. A total of 16 shows were active, 10 of which recorded gains while five others lost ground. The MGS 2041 (I) 2.4% tops the list of winners, closing up 5.7% at € 130.00. In contrast, the AMS 2039 (I) 2.1% closed down 3.1% at € 124.00.

The MSE Corporate Bonds Total Return index ended the week slightly down at 1,123.36 points. Of 37 active issues, 13 rose while 12 others traded lower. The best performance was recorded by the 4.85% Melite Finance plc Unsecured 2028, which closed up 7.1% at € 75.00. Conversely, the 3.8% Hili Finance plc Unsecured Bonds 2029 lost 1.6%, ending the week at € 99.89.

Eight issues were active on the MTF Prospects market. The 5.5% Testa Finance plc 2029 was the most liquid, as it generated a total weekly turnover of € 28,508.

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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