Lacklustre trading across 14 equities

The MSE Equity Price Index remained practically unchanged at 3,722.460 points as the gains in BOV, Hili Properties, MIA, and LifeStar Insurance were offset by declines in APS, AX Real Estate, HSBC, Lombard, FIMBank, and Malita. Meanwhile, four other equities closed unchanged. Despite that activity was spread across 14 equities, the total trading value amounted to less than €0.10 million. Download today’s Equity Market Summary.

Bank of Valletta plc moved 1.4% higher to the €1.48 level on two trades totalling 9,375 shares. BOV will publish its interim results on Monday 29 July 2024.

Also among large companies by market value, Malta International Airport plc gained 0.9% to the €5.70 level across four deals amounting to 1,175 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.

Hili Properties plc increased by 1.1% to the €0.182 level on negligible activity.

LifeStar Insurance plc rebounded to the €0.40 level across three deals totalling 12,000 shares.

On the other hand, APS Bank plc reversed recent gains as it slumped by 8.9% to the €0.51 level over three trades amounting to 4,402 shares. Yesterday, 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 payable to all shareholders as at the close of trading on 20 August 2024 subject to regulatory approval.

Also in the banking sector, HSBC Bank Malta plc decreased by 0.6% to the €1.58 level on two deals amounting to 1,009 shares. HSBC will publish its interim results on Wednesday 31 July 2024 and the Directors will also consider the declaration of an interim dividend.

FIMBank plc moved 0.5% lower to the USD0.199 level over two deals totalling 25,039 shares.

Lombard Bank Malta plc plummeted by 5.1% to the €0.75 level on trivial volumes.

AX Real Estate plc dropped by 0.4% to the €0.458 level on a single trade of 5,000 shares.

Also in the property sector, Malita Investments plc dropped by 2.0% to the €0.48 level over three deals amounting to 2,550 shares.

Meanwhile, GO plc held the €2.92 level on a single trade of 3,000 shares.

GO’s digital infrastructure subsidiary, BMIT Technologies plc closed unchanged at the €0.34 level across two deals amounting to 17,000 shares.

Tigné Mall plc traded flat at the €0.95 level as 35,835 shares changed hands. Today, Tigné Mall announced that its Board of Directors is scheduled to meet on Friday 2 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.

Simonds Farsons Cisk plc remained unchanged at the €6.85 level over two deals totalling 1,150 shares.

The RF MGS Index fell for the second consecutive session declining by 0.11% to 895.506 points. Data released today showed that the personal consumption price index in the US was 2.5% in June as expected, decreasing from 2.6% in May. Nonetheless, the core PCE Price index remained flat at 2.6% contrasting with a forecasted drop to 2.5%. Meanwhile, personal income in the US during June grew by 0.2% from the previous month falling short of expectations of a 0.4% increase driven by a slower growth in wages and salaries.

This report contains only public information and is not to be construed as investment advice or an offer to buy or sell securities. Information contained herein is based on data obtained from sources considered to be reliable, but no representations or guarantees are made with regard to the accuracy of the data. Stock markets are volatile and subject to fluctuations which cannot be reasonably foreseen. Past performance is not necessarily indicative of future results. Rizzo, Farrugia & Co. (Stockbrokers) Limited is a company licensed to undertake investment services in Malta by the MFSA under the Investment Services Act, Cap—370 of the Laws of Malta and a member of the Malta Stock Exchange