The MSE Equity Total Return Index advanced by another 0.1% to 8,310.761 points. A total of 17 equities were active, seven of which traded lower, while another six closed higher. Total weekly turnover was lower when compared to the previous week, as it stood at €0.5m – generated across 108 transactions.
Last Thursday, Bank of Valletta plc published its interim directors’ statement for the first quarter of 2021. Profit before tax for the first quarter of FY 2021 amounted to €9.3m. This was in line with underlying performance trends experienced over the course of last year, conditioned by subdued activity and provisioning occasioned by the COVID-19 environment.
The MSE Equity Price Index rallied by 1.32% to 4,029.051 points as the strong gains in FIMBank and IHI, coupled with the positive performances of BOV and Harvest, offset the declines in MIA, HSBC and Farsons. Trading activity improved markedly to €0.27 million largely on the back of increased volumes in BOV shares.
Bank of Valletta plc added 1.1% to regain the €0.90 level on volumes totalling 189,324 shares having a market value of €0.17 million. Today, BOV announced that the full transition from Raiffeisen Bank to Western Union in relation to payments in USD is planned to start in the coming days. Moreover, the bank published a Quarterly Update wherein it explained that revenues decreased by 4% in Q1 2021 but operating costs increased by 4% mainly due to increases in employee compensation, investment in technology, and higher amortisation charges.
The MSE Equity Total Return Index returned in positive territory, as it reached 8,252.192 points – equivalent to a 2.9% weekly change. During the week activity increased by 13%, as total turnover amounted to €1.04 million, generated across 134 transactions.
Out of 19 active equities, 11 registered gains while another five lost ground.
Retail conglomerate, PG plc reached an all-time-high of €2.12 last Wednesday but did not manage to sustain the gain, as it closed the week at €2.08 – translating into a 1% increase.
Eight deals involving 20,072 shares were executed.
Last Thursday, HSBC Bank Malta plc (HSBC) held its annual general meeting and approved all the proposed resolutions.
The shareholders also approved the final gross dividend of €0.0116 per share, representing a final gross payment of €4,179,550.75 as recommended by the board. HSBC shares recorded a 1.2% decline in price, as they closed at €0.85.
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The MSE Equity Total Return Index returned to negative territory, as it closed 2.5% lower, reaching 7,975.798 points – the lowest since November 2020.
A total of 21 equities were active, five of which headed north while another 11 closed in the opposite direction. Total weekly turnover increased by €0.16 million, as it amounted to €1.1 million, generated across 171 transactions.
The highest liquidity was recorded in the property sector, as turnover in Malita plc increased by more than ten times, amounting to €314,517. This was the result of five deals involving 349,463 shares, leaving no impact on the equity’s previous closing price of €0.90.
Malta Properties Company plc was also active but closed unchanged at €0.56. A total of 22,000 shares changed ownership across four transactions.