Sizeable trading activity across Tigné Mall shares

The MSE Equity Price Index fell by 0.22% to a fresh one-week low of 3,742.098 points as the declines in BMIT, Hili Properties and Tigné Mall outweighed the gain in BOV. Meanwhile, three other equities closed unchanged as the day’s total trading activity in local equities was at a one-month high of €0.51 million. Download today’s Equity Market Summary.

Most of today’s trading activity was across the shares of Tigné Mall plc which eased by 1.2% to the €0.82 level on two trades totalling 500,000 shares, having a market value of €0.41 million.

Hili Properties plc fell by 12.9% to the €0.183 level across three deals totalling 35,400 shares.

BMIT Technologies plc slumped by 5.1% to an almost two-month low of €0.37 across three trades totalling 15,000 shares.

On the other hand, Bank of Valletta plc moved 0.8% higher to the €1.31 level over seven deals amounting to 52,867 shares.

HSBC Bank Malta plc held the €1.29 level on a single trade of 8,000 shares. Today, HSBC Bank Malta plc announced that its Board of Directors is scheduled to meet on Wednesday 21 February 2024 to consider and approve the financial statements for the financial year ended 31 December 2023. The Directors will also consider the declaration of a final dividend to be recommended to the Bank’s Annual General Meeting, which will be held on Thursday 18 April 2024.

Also in the banking sector, APS Bank plc traded flat at the €0.545 level as 11,000 shares changed hands.

GO plc held the €3.10 level over trivial volumes.

Today, AX Real Estate plc announced that its Board of Directors is scheduled to meet on Wednesday 21 February 2024 to consider and approve the financial statements for the financial year ended 31 October 2023.

Last Saturday, Malita Investments plc published a Prospectus following regulatory approval in connection with a 4-for-9 rights issue. An amount of up to 65,825,806 new ordinary shares are offered at €0.50 per share. The net proceeds from the Rights Issue, estimated at €32.5 million, are principally earmarked to part-finance the required capital expenditure for the ongoing Affordable Housing Project. The offer period opens on Wednesday 28 February 2024 until Friday 15 March 2024.

The RF MGS Index fell by 0.08% to 888.411 points. Today the Bundesbank released its monthly report where it stated that economic activity in Germany could decline once again in the first quarter of 2024 driven by weak export demand as well as subdued domestic activity due to high borrowing costs. Furthermore, the Bundesbank expects Germany’s labour market to remain resilient despite the economic decline. Following the Bundesbank’s report, the German 10-year bund yield resurfaced above 2.40%.

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.