MSE Equity Price Index closes at a one-week high

The MSE Equity Price Index rose by 0.99% to a one-week high of 3,769.546 points driven by the gains in BOV, FIMBank, APS, Malita, Hili Properties and Plaza. Meanwhile, five other equities closed unchanged as today’s trading activity in local equities amounted to €0.25 million. Download today’s Equity Market Summary.

Bank of Valletta plc made up for the majority of today’s trading as it gained 1.4% to the €1.42 level across eighteen trades totalling 131,638 shares.  Shareholders as at the close of trading on Friday 26 April will be entitled to receive the final net dividend of €0.0455 per share subject to shareholder approval at the upcoming Annual General Meeting scheduled to be held on 31 May 2024.

Also in the banking sector, FIMBank plc surged by 28.4% to a three-week high of USD0.199 over four deals totalling 50,000 shares. FIMBank will publish its results for the financial year 2023 tomorrow, Wednesday 24 April.

APS Bank plc climbed by 1.8% to a one-week high of €0.56 on two deals of 3,600 shares. APS is holding a market briefing on Thursday 25 April.

Plaza Centres plc moved 1.7% higher to an almost two-month high of €0.59 on muted activity. Plaza is set to publish its results for the financial year 2023 tomorrow, on Wednesday 24 April.

Malita Investments plc rose by 8.9% to the €0.49 level on a single deal of 3,000 shares. Shareholders as at the close of trading on Friday 26 April will be entitled to receive the final net dividend of €0.0185 per share subject to shareholder approval at the upcoming Annual General Meeting scheduled to be held on 13 June 2024.

Also in the property sector, a single trade of 8,000 shares pushed the share price of Hili Properties plc 2.2% higher to the €0.19 level. Hili Properties will publish its results for the financial year 2023 this Monday 29 April.

Meanwhile, HSBC Bank Malta plc traded flat at the €1.40 level as 12,205 shares changed hands.

Also in the banking sector, Lombard Bank Malta plc held the €0.83 level on one deal of 2,000 shares. Lombard will publish its results for the financial year 2023 this Friday, 26 April.

The share price of Malta International Airport plc remained unchanged at the €5.70 level after two trades amounting to 860 shares.

Also among large companies by market cap, International Hotel Investments plc held the €0.45 level on a single deal of 11,000 shares. IHI is set to publish its results for the financial year 2023 next Tuesday, 30 April.

PG plc closed unchanged at the €1.98 level after recovering from an intraday low of €1.96 (-1.0%) over three trades amounting to 10,950 shares.

The RF MGS Index increased by 0.23% to 892.320 points as the corresponding yields fell in line with movements across the German bund market. The German 10-year yield fell below 2.50% from a peak above 2.55% yesterday. Estimates released today showed that during April, the private sector in the Eurozone is set to grow at the fastest rate since May 2023 as the growth in the services sector is set to outweigh the worsened outlook for the manufacturing sector. Furthermore, contrary to previous forecasts, the German private sector activity in April is anticipated to expand for the first time in ten months also driven by a sharp rebound in the services sector.

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.