Tigné Mall share price jumps 16%

 

Today’s most actively traded equity was Tigné Mall plc with the share price surging by 15.9% to an almost five-year high of €0.95 level across twenty-four deals having a market value of €2.2 million. Download today’s Equity Market Summary.

The MSE Equity Price Index rose by 0.40% to 3,722.531 points as the gains in APS, AX Real Estate, BOV, HSBC, MIDI and Tigné Mall outweighed the declines in GO, Hili Properties and Mapfre Middlesea. Meanwhile, three equities closed unchanged as today’s trading activity reached a four-month high of €2.6 million driven by the considerable activity in the shares of Tigné Mall.

APS Bank plc increased by 1.8% to the €0.56 level on a single trade of 5,355 shares. Today APS published its interim financial statements covering the six-month period ended 30 June 2024. Profit after tax amounted to €6.84 million compared to €10.8 million in the same period last year. The board declared a net interim dividend of €0.0053 per share which is equivalent to €2.0 million. This cash dividend is payable to all shareholders as at the close of trading on 20 August 2024 subject to regulatory approval.

Also in the banking sector, Bank of Valletta plc moved 0.7% higher to the €1.46 level after failing to hold onto an intraday high of €1.50 (+3.5%) across twenty-five trades amounting to 213,267 shares. BOV will publish its interim results on Monday 29 July 2024.

HSBC Bank Malta plc gained 0.6% to the €1.59 level on two deals amounting to 2,875 shares. HSBC will publish its interim results on Wednesday 31 July 2024 and the Directors will also consider the declaration of an interim dividend.

MIDI plc rose by 11.6% to the €0.25 level as 8,500 shares changed hands.

Also in the property sector, AX Real Estate plc moved 1.3% higher to the €0.46 level on a single deal of 5,000 shares.

On the other hand, GO plc fell by 0.7% to the €2.92 level across two trades amounting to 1,655 shares. Last Wednesday, GO announced that its Board of Directors is scheduled to meet on Friday 9 August 2024 to consider the approval of the interim financial statements for the six-month period ended 30 June 2024. The Directors will also consider the declaration of an interim dividend.

A single trade of 6,300 shares pulled the share price of Hili Properties plc 1.1% lower to a five-month low of €0.18.

Mapfre Middlesea plc slumped by 5.4% to the €1.23 level over three deals amounting to 9,264 shares.

Meanwhile, Malta International Airport plc traded flat at the €5.65 level across two trades totalling 5,000 shares. MIA’s Board of Directors is scheduled to meet on Thursday 1 August 2024 to consider the approval of the interim financial statements for the six-month period ended 30 June 2024. The Directors will also consider the declaration of an interim dividend.

The preference shares of RS2 plc held the €0.78 level on one trade of 6,163 shares.

Malta Properties Company plc closed unchanged at the €0.37 level over four deals amounting to 10,000 shares. Today, Malta Properties Company plc announced that its Board of Directors is scheduled to meet on Thursday 8 August 2024 to consider the approval of the interim financial statements for the six-month period ended 30 June 2024.

The RF MGS Index fell by 0.10% to 896.474 points driven by a fall in the prices of long-term MGS implying a steepening of the yield curve. Data released today showed that the economy in the United States grew by 2.8% during the second quarter of this year, greatly exceeding forecasts of 2% and rising from 1.4% in the first quarter. Notably, consumer spending rose 2.3% as the rebound in the consumption of goods outweighed a slower growth in services. Furthermore, private inventories greatly contributed to the economy’s expansion after being a drag for the previous two periods driven by the wholesale and retail trade industries.

This afternoon, the Treasury Department established the prices for the two new Malta Government Stocks as follows:

(i) 3.40% MGS 2027 (VI) Fungibility Issue (F.I) at 100.90% for every €100 nominal giving a yield-to-maturity of 3.1197% per annum; and

(ii) 3.50% MGS 2034 (III) at 100.00% for every €100 nominal giving a yield-to-maturity of 3.5306% per annum.

The offer period for retail investors closes on Wednesday 31 July