The MSE Equity Total Return Index closed the first week of February 2.5 per cent lower at 8,045.256 points.
A total of 20 equities were active, four of which headed north while another 14 closed in the opposite direction.
A total weekly turnover of €1.7 million was generated across 153 transactions.
In the banking sector, HSBC Bank Malta plc gained 6 per cent to close the week as the top performing equity.
A total of 187,077 shares were executed across 19 transactions, pushing the price €0.05 higher to €0.88 after trading at a weekly low of €0.82.
Bank of Valletta plc (BOV) shares started off the week on a positive note, as the equity traded at a high of €0.95 but did not manage to sustain the gain, as it closed at €0.93.
During the course of 2020, Malta’s corporate bond market was naturally severely impacted by the pandemic. As I highlighted in some articles over the past few months, during the start of the pandemic in early March 2020, there were double-digit declines in the prices of various corporate bonds as a result of the understandable huge concern among retail investors about the unprecedented circumstances that were being experienced.
However, following the sharp sell-off, investor sentiment somewhat improved and many corporate bond prices recovered with some bonds also trading back up above their par value during the second half of the year. On the other hand, though, other bonds still remain below their par value with the clear outlier being Melite Finance plc which last traded at 80 per cent due to the huge negative impact on their business in Italy and the bond restructuring plans which were initially outlined in the 2019 Annual Report published on June 30, 2020.
maltawinds.com
Posted by Vento on
The Ministry for Finance and Employment announces the appointment of Mr David G. Curmi as the new Executive Chairperson of Air Malta.
The appointment will be effective from the 1st of January, 2021.
Mr Curmi brings with him years of experience leading public and private entities. He currently serves as CEO of MAPFRE MSV Life p.l.c. and sits on the boards of a number of companies, including MAPFRE Middlesea p.l.c., MIDI p.l.c., Plaza Centres p.l.c. and Growth Investments Ltd.
He is also Chairperson of the Board of Governors of the National Development and Social Fund and a member of the Board of the Doctoral School at the University of Malta.
David G. Curmi confirmed as new Air Malta executive chairman
Finance ministry confirms MaltaToday report on appointment of new Air Malta head
14 December 2020, 6:20pm
by Karl Azzopardi
The announcement was made by the finance ministry, who thanked outgoing chairman Charles Mangion.
Curmi is a financial services professional and corporate executive, serving as Chief Executive Officer of MAPFRE MSV Life plc, and sits on the boards of a number of listed companies including MAPFRE Middlesea plc, MIDI plc and Plaza Centres plc.
Speaking to MaltaToday, sources would not divulge details on Curmi’s pay package, but said that it would be “far less” than the remuneration for previous Air Malta CEO Clifford Chetcuti.