Author: Edward Rizzo

The interim reporting season in Malta started last week, and over recent days, six equity issuers published their interim financial statements for the six-month period ended June 30. A number of bond issuers also began issuing their interim financial statements. The reporting season is always a very important time for the financial markets, both in Malta and more so overseas (where companies report on a quarterly basis), since it allows investors to gauge the financial performance and prospects of a company or a particular sector. Moreover, the reporting season allows companies to explain the key business initiatives being undertaken to…

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The MSE Equity Price Index continued to move higher as it advanced by a further 1.33% to 3,833.210 points. The gains in BMIT, IHI, Harvest and Plaza outweighed the declines in HSBC and Malita. Meanwhile, GO and MPC both closed unchanged as overall trading activity amounted to €0.05 million. Harvest Technology plc rose by 3.2% to a new all-time high of €1.59 across two deals totalling 6,000 shares. Harvest will be publishing its 2021 interim financial results on 3 August. In the same sector, BMIT Technologies plc climbed by 1.7% to the €0.49 level across 20,000 shares after touching an…

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Although the primary objective of equity investments should be for long-term capital appreciation, the consideration of an adequate regular dividend is hardly ever overlooked by investors. This is probably more pronounced with Maltese retail investors who, before making an investment, invariably look at the potential annual income stream that may be generated through the distribution of dividends. In fact, while many Maltese investors may have focused specifically on the domestic capital market to obtain a sustainable dividend flow over the years, it is highly evident that a number of companies in the major financial markets also offer attractive dividends when…

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The MSE Equity Price Index lost a further 1.22% to a fresh 4-month low of 3,774.899 points as the declines in MIA, RS2 and Farsons outweighed the gains in BOV and Lombard. Meanwhile, overall trading activity amounted to €0.08 million. Today, VBL plc (‘VBL’) issued a formal notice announcing the offer of (i) 35,714,286 new shares, representing 12.6% of the total issued share capital of VBL post-IPO which will be admitted to the Official List of the Malta Stock Exchange; and (ii) 35,714,286 shares to be sold by existing shareholders subject to the new shares being subscribed in full. The…

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The MSE Equity Price Index opened the week in negative territory as it eased by 0.83% to 3,821.573 points. The declines in five companies outweighed the gains in MIA and Harvest whilst Bank of Valletta plc retained the €0.89 level on light volumes. BOV will be publishing its 2021 interim financial results on 29 July. Malta International Airport plc advanced by 1.6% to recapture the €6.30 level on five deals totalling 3,975 shares. The airport operator will be publishing its 2021 interim financial results on Wednesday 28 July. The other positive performing equity today was Harvest Technology plc as it…

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The Central Bank of Malta last week published the 13th edition of the Financial Stability Report (FSR), which reviews and assesses the financial conditions and developments of the financial system in Malta. The report basically evaluates the resilience of the local financial system and identifies sources of potential systemic risk. The Financial Stability Report is generally published annually in August followed by a mid-yearly update in December. This year’s annual report was published slightly earlier than usual. In my opinion, the annual Financial Stability Report should be reviewed by all investors across the Maltese capital market due to the importance…

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The MSE Equity Price Index dropped by 1.39% to a 3-week low of 3,868.949 points on Thursday on the back of sharp decline in IHI. Meanwhile, BMIT, MOV, MIA, and PG all closed unchanged as overall trading activity remained lacklustre at just under €0.05 million. International Hotel Investments plc plunged by 13.6% as it closed at a 3-month low of €0.57 across 2,630 shares. PG plc remained at the €2.26 level on volumes of 9,206 shares. The company will be publishing its 2020/21 annual financial statements by the end of August. A single trade of 560 shares kept Malta International…

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The first half of the year is behind us, so it would be good to offer a summary of the performances across international equity markets before detailing the key themes that are likely to dominate investor sentiment across financial markets in the upcoming six months. After under-performing in the first quarter of 2021, the main US indices outperformed the European markets in the last three months. While the S&P 500 rose by a ‘mere’ 5.4 per cent from January to March compared to the 10.5 per cent rise in the Euro Stoxx 50, the leading US equity benchmark rose 8.6…

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The MSE Equity Price Index on Tuesday erased most of Monday’s gains as it retraced by 0.31% to 3,926.229 points. The decline in BOV outweighed the gain in MPC whilst RS2 traded flat. Meanwhile, overall trading activity eased to €0.08 from €0.12 million yesterday. Malta Properties Company plc rose by 3.7% to the €0.56 level across heightened activity of 116,928 points. MPC’s Annual General Meeting is scheduled to be held remotely on Thursday 15 July 2021. Bank of Valletta plc slipped by 2.7% as it returned to the €0.90 level on 6,188 shares. Meanwhile, the ordinary shares of RS2 Software…

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The MSE Equity Price Index opened the week in positive territory as it advanced by 0.37% to 3,938.614 points. The gains in GO, Farsons and RS2 outweighed the declines in BMIT and MIA whilst Lombard and MPC closed unchanged. Meanwhile, overall trading activity amounted to €0.12 million. GO plc inched 0.6% higher to the €3.38 level as 10,000 shares changed hands. GO’s data centre subsidiary, BMIT Technologies plc, erased all of last Friday’s gains as it fell by 4% to the €0.48 level across a single trade of 70,000 shares. Also in the technology sector, the ordinary shares of RS2…

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