Daily Market Highlights

July 19, 2024

HSBC Malta climbs to 5-year high

 

The MSE Equity Price Index fell by 0.34% to 3,688.311 points as the declines in MIA, LifeStar Insurance, and the preference share of RS2 outweighed the gains in BOV, HSBC, BMIT, and Malita. Meanwhile, two other equities closed unchanged as the total trading activity in local equities amounted to €0.19 million. Download today’s Equity Market Summary.

HSBC Bank Malta plc gained 0.6% to a five-year high of €1.56 across nine deals amounting to 45,418 shares. HSBC is scheduled to publish its interim results on Wednesday 31 July 2024. The Directors will also consider the declaration of an interim dividend.

Also in the banking sector, Bank of Valletta plc rose by 0.7% to a one-week high of €1.47 on ten trades totalling 43,855 shares.

BMIT Technologies plc moved 1.7% higher to the €0.356 level as 21,000 shares changed hands.

Malita Investments plc advanced by 4.3% to a two-month high of €0.49 over three deals amounting to 13,000 shares.

On the other hand, Malta International Airport plc shed 1.8% to the €5.55 level across eight deals amounting to 3,519 shares. Yesterday, MIA announced that its 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 fell by 2.5% to an all-time low of €0.78 on two trades totalling 5,682 shares.

LifeStar Insurance plc plummeted by 66% to an all-time low of €0.17 albeit over trivial volumes.

APS Bank plc traded flat at the €0.515 level across five deals amounting to 24,510 shares. APS will publish its interim financial results on Thursday 25 July 2024. The Directors will also consider the declaration of an interim dividend, subject to regulatory approval.

Simonds Farsons Cisk plc closed unchanged at the €6.85 level across two trades totalling 513 shares.

The RF MGS Index remained relatively unchanged at 898.600 points. Data released today showed that in Germany producer prices increased by 0.2% month over month in June exceeding projections. On an annual basis, producer prices registered the twelfth consecutive decline as they fell by 1.6%. Nonetheless, the drop was the smallest in the past year. Elsewhere in the UK, retail sales declined by 1.2% month over month in June, which was a greater decrease than the 0.4% forecasted. Meanwhile, on an annual basis, retail sales unexpectedly fell by 0.2% compared to an anticipated 0.2% increase.

Today, the Treasury Department announced the issue of two new Malta Government Stocks up to €400 million. The two new fixed-rate stocks are the 3.40% MGS 2027 (VI) Fungibility Issue and the 3.50% MGS 2034 (III). The prices of these two new MGSs will be announced on Thursday 25 July 2024. The General Public has the possibility of applying for these stocks in multiples of €100 and up to a maximum of €499,900 (nominal) per application. For applications in excess of €500,000 (nominal), a tendering process will apply. Subscriptions for the General Public open on Monday 29 July 2024 and close on Wednesday 31 July 2024. On the other hand, tenders in the form of sealed bids will open on Friday 2 August 2024 and close on the same day at 12:00 hrs (noon) or earlier at the discretion of the Accountant General.

 

This report contains public information only and is not to be construed as investment advice or an offer to buy or sell any 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.