IHI signals improved potential for Prague hotel
Following last week's article detailing the performance of the S&P 500 index in 2025, it is worth devoting time to review the developments across the European equity markers in my last article of the year.
The MSE Equity Price Index rose by 0.69% to a fresh 6-year high of 4,304.4 points as the gains in BOV, IHI, MIA, MedservRegis, MPC, PG, Quinco and The Convenience Shop outweighed the declines in BMIT and MIDI. Two other equities closed unchanged, with total trading value easing to €0.44 million. Download today’s Equity Market Summary.
International Hotel Investments plc advanced 4.9% to €0.64, although most of the 18,000 shares that traded exchanged hands at the previous closing price of €0.61. Today, IHI announced that it is evaluating the business and commercial potential of its landmark Grand Hotel Prague following a major change to Prague’s planning framework which has significantly improved the property’s redevelopment potential and prospective value. The Metropolitan Plan approved by the Prague City Council, which comes into effect on 1 September 2026, permits the potential conversion of the 60,000 square metre high-rise property to residential use and allows for additional development volume on the hotel’s adjoining vacant land. IHI has appointed architects and professional advisers to assess the property’s full development potential and to establish an updated valuation benchmark. The company explained that the re-evaluation, which could potentially include an asset sale, forms part of its strategy of realising value from its owned real estate portfolio while expanding its Corinthia brand internationally through an asset-light hotel management model. The Prague hotel carried an asset value of €110 million in IHI’s 2025 financial statements.
Bank of Valletta plc was the most actively traded equity as it rose 0.9% to €2.27, its highest close since May 2006, although the 102,632 shares that traded changed hands at a volume-weighted average price of €2.25. Today, BOV also announced that Slingshot Global Sicav plc increased its holding in the Bank from 4.99% to 5.04% on 26 August 2026.
The Convenience Shop (Holding) plc climbed 5.7% to €0.74 on a single trade of 500 shares and published its interim results for the six months ended 30 June 2026. Revenue rose by 11.7% to €27.6 million from €24.7 million a year earlier on the contribution of five new outlets, while operating profit surged by 31% to €0.74 million. Profit before tax increased by 6.4% to €0.45 million, although the net profit attributable to shareholders remained practically unchanged at €0.31 million. The Convenience Shop shareholders as at the close of trading on Wednesday 28 October 2026 will be entitled to an unchanged net interim dividend of €0.01 per share payable on Tuesday 1 December 2026.
Malta International Airport plc gained 0.8% to €6.65 across four deals totalling 1,898 shares.
MedservRegis plc added 1.5% to €0.69 across 15,380 shares. Yesterday, MedservRegis published its half-yearly report for the six months ended 30 June 2026. Revenue rose by 40.8% to €63.0 million from €44.7 million a year earlier, as the Integrated Logistics Support Services segment generated €47.1 million against €27.9 million, principally from offshore projects in Malta and Libya, while Oil Country Tubular Goods revenue was broadly unchanged on a constant currency basis. Adjusted EBITDA increased by 14% to €12.4 million and operating profit rose by 18% to €7.3 million, lifting profit before tax by 26.8% to €5.4 million. The profit for the period attributable to shareholders amounted to €3.1 million. The Board is scheduled to meet on 29 September 2026 to consider the declaration of an interim dividend.
PG plc advanced 0.6% to €1.60 on a single trade of 2,000 shares, while Quinco Holdings plc rose 3.8% to €0.83, also on a single trade of 1,500 shares.
Malta Properties Company plc closed 2.4% higher at €0.43, although most of the 2,200 shares that traded exchanged hands at €0.386 (-8.1%).
Meanwhile, APS Bank plc closed unchanged at the €0.59 level across 13,200 shares and HSBC Bank Malta plc traded flat at the €1.46 level on a single trade of 797 shares.
In contrast, BMIT Technologies plc shed 3.7% to €0.258 across 590,045 shares having a market value of €0.15 million.
MIDI plc dropped 7.8% to €0.212, most of the 38,000 shares that traded changed hands at the previous closing price of €0.23.
Today, LifeStar Insurance plc published its half-yearly report for the six months ended 30 June 2026, registering a total comprehensive income of €0.24 million against a loss of €0.74 million a year earlier, as insurance revenue increased to €5.1 million from €3.5 million. Gross written premium grew by 28%, led by protection business following the Italy passporting initiative. In the first six months of 2026, total equity increased by 1.0% (or €0.24 million) to €23.9 million, which translates into a net asset value per share of €0.369.
The RF MGS Index dropped by 0.19% to 890.3 points as inflation in Spain and France accelerated more than expected in August. The Spanish annual rate climbed to 4.3% from 3.6% in July, its highest level since February 2023, while the French rate rose to 2.4%, with both preliminary estimates attributing the pickup mainly to energy costs. Energy inflation in France accelerated to 16.7% from 12.6%, led by petroleum products, although core inflation in Spain edged down to 2.9%, leaving the acceleration concentrated in energy rather than broadening across the wider basket.
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The article contains public information only and is published solely for informational purposes. It should not be construed as a solicitation or an offer to buy or sell any securities or related financial instruments. No representation or warranty, either expressed or implied, is provided in relation to the accuracy, completeness or reliability of the information contained herein, nor is it intended to be a complete statement or summary of the securities, markets or developments referred to in this article. Rizzo, Farrugia & Co. (Stockbrokers) Ltd (“Rizzo Farrugia”) is under no obligation to update or keep current the information contained herein. Since the buying and selling of securities by any person is dependent on that person’s financial situation and an assessment of the suitability and appropriateness of the proposed transaction, no person should act upon any recommendation in this article without first obtaining investment advice. Rizzo Farrugia, its directors, the author of this article, other employees or clients may have or have had interests in the securities referred to herein and may at any time make purchases and/or sales in them as principal or agent. Furthermore, Rizzo Farrugia may have or have had a relationship with or may provide or has provided other services of a corporate nature to companies herein mentioned. Stock markets are volatile and subject to fluctuations which cannot be reasonably foreseen. Past performance is not necessarily indicative of future results. Foreign currency rates of exchange may adversely affect the value, price or income of any security mentioned in this article. Neither Rizzo Farrugia, nor any of its directors or employees accepts any liability for any loss or damage arising out of the use of all or any part of this article. Additional information can be made available upon request from Rizzo, Farrugia & Co. (Stockbrokers) Ltd., Airways House, Fourth Floor, High Street, Sliema SLM 1551. Telephone: +356 2258 3000; Email: info@rizzofarrugia.com; Website: www.rizzofarrugia.com © 2021 Rizzo, Farrugia & Co. (Stockbrokers) Ltd. All rights reserved. This article may not be reproduced or redistributed, in whole or in part, without the written permission of Rizzo Farrugia. Moreover, Rizzo Farrugia accepts no liability whatsoever for the actions of third parties in this respect.
This article was produced by Edward Rizzo, Director at Rizzo Farrugia, which 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. The company’s registered address is at Airways House, Fourth Floor, High Street, Sliema SLM 1551, Malta.
The article contains public information only and is published solely for informational purposes. It should not be construed as a solicitation or an offer to buy or sell any securities or related financial instruments. No representation or warranty, either expressed or implied, is provided in relation to the accuracy, completeness or reliability of the information contained herein, nor is it intended to be a complete statement or summary of the securities, markets or developments referred to in this article. Rizzo, Farrugia & Co. (Stockbrokers) Ltd (“Rizzo Farrugia”) is under no obligation to update or keep current the information contained herein. Since the buying and selling of securities by any person is dependent on that person’s financial situation and an assessment of the suitability and appropriateness of the proposed transaction, no person should act upon any recommendation in this article without first obtaining investment advice. Rizzo Farrugia, its directors, the author of this article, other employees or clients may have or have had interests in the securities referred to herein and may at any time make purchases and/or sales in them as principal or agent. Furthermore, Rizzo Farrugia may have or have had a relationship with or may provide or has provided other services of a corporate nature to companies herein mentioned. Stock markets are volatile and subject to fluctuations which cannot be reasonably foreseen. Past performance is not necessarily indicative of future results. Foreign currency rates of exchange may adversely affect the value, price or income of any security mentioned in this article. Neither Rizzo Farrugia, nor any of its directors or employees accepts any liability for any loss or damage arising out of the use of all or any part of this article. Additional information can be made available upon request from Rizzo, Farrugia & Co. (Stockbrokers) Ltd., Airways House, Fourth Floor, High Street, Sliema SLM 1551. Telephone: +356 2258 3000; Email: info@rizzofarrugia.com; Website: www.rizzofarrugia.com © 2021 Rizzo, Farrugia & Co. (Stockbrokers) Ltd. All rights reserved. This article may not be reproduced or redistributed, in whole or in part, without the written permission of Rizzo Farrugia. Moreover, Rizzo Farrugia accepts no liability whatsoever for the actions of third parties in this respect.
This article was produced by Edward Rizzo, Director at Rizzo Farrugia, which 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. The company’s registered address is at Airways House, Fourth Floor, High Street, Sliema SLM 1551, Malta.