Four equities push the MSE Equity Price Index higher

The MSE Equity Price Index rose by 0.19% to 3,744.458 points as the gains in BOV, HSBC, GO, and IHI outweighed the declines in Hili Properties, APS and MIDI. Meanwhile, five other equities closed unchanged, but overall today’s trading activity in local equities was muted at just €0.09 million. Download today’s Equity Market Summary.

Bank of Valletta plc gained 1.5% to the €1.32 level as 2,464 shares changed hands.

Also in the banking sector, HSBC Bank Malta plc increased by 0.8% to the €1.29 level on two trades totalling 8,000 shares.

International Hotel Investments plc rose by 0.9% to the €0.456 level on two deals totalling 38,000 shares.

Also among large companies by market cap, GO plc advanced by 1.3% to the €3.10 level on a single trade of 853 shares.

APS Bank plc shed 0.9% to the €0.545 level across five trades totalling 62,650 shares. Yesterday, APS announced that its Board of Directors is scheduled to meet on Thursday 7 March 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 dividend, subject to regulatory approval.

Hili Properties plc plummeted by 11.2% to a one-month low of €0.19 over three trades totalling 26,000 shares.

Also in the property sector, MIDI plc moved 3.2% lower to the €0.30 level, albeit on trivial volumes.

Malta International Airport plc traded flat at the €5.65 level across four deals totalling 1,775 shares. Yesterday, Malta’s largest airline operator – Ryanair – announced its largest ever summer schedule to a total of 67 routes. The airline operator will also have an additional aircraft based in Malta to a total of seven aircrafts stationed at the Malta International Airport. In his comments to the media, Ryanair’s CEO Michael O’Leary said that Ryanair’s passenger movements in Malta will reach 4.5 million between April 2024 and March 2025, which is almost 25% more passengers when compared to the same period a year earlier. Today, MIA announced that its Board of Directors is scheduled to meet on Wednesday 28 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 dividend.

MaltaPost plc closed unchanged at the €0.47 level after recovering from an intraday low of €0.46 (-2.1%) across two trades amounting to 10,000 shares. MaltaPost is holding its Annual General Meeting tomorrow.

Trident Estates plc held the €1.21 level as 2,000 shares changed hands.

Tigné Mall plc and Santumas Shareholdings plc held the €0.83 and €1.40 levels respectively on lacklustre volumes.

The RF MGS Index fell by 0.33% to a two-week low of 889.174 points, reflecting the continued increase in eurozone sovereign bond yields. In fact, today the German 10-year bund yield climbed to a two-week high of 2.35%. Meanwhile in the US, the number of Americans filing for unemployment during the last week was slightly lower than expected, but the figure was above the average of the last two months. Elsewhere, consumer prices in China declined at the fastest rate in 15 years during January falling by 0.8%, a sharper decline than expected.

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.