MSE Equity Price Index posts sixth consecutive decline

The MSE Equity Price Index fell by a further 0.63% to an over one-month low of 3,755.811 points, as the declines in APS, HSBC, IHI and MaltaPost outweighed the gains in MPC. Meanwhile, two other equities closed unchanged as the total trading activity amounted to €0.13 million. Download today’s Equity Market Summary.

VBL plc was the most actively traded equity for the second consecutive session as it held its all-time low of €0.19 a deal of 289,305 shares.

Bank of Valletta plc closed unchanged at the €1.27 level after recovering from an intra-day low of €1.25 (-1.6%) across five trades totalling 15,405 shares.

Also in the banking sector, APS Bank plc (1,122 shares) and HSBC Bank Malta plc (54 shares) both fell by 3.2% to €0.60 and €1.21 respectively. APS shareholders as of the close of trading on 23 August 2023 will receive a net interim dividend of €0.0056 per share, which shareholders can elect to receive the dividend either in cash or through the issuance of new ordinary shares at an attribution price of €0.57 per share.

International Hotel Investments plc moved 1.9% lower to the €0.53 level after failing to hold onto an intra-day high of €0.545 (+0.9%) across four trades totalling 12,438 shares. IHI is set to publish its interim results for the six-month period ending 30 June 2023 on Thursday 24 August.

MaltaPost plc shed 2.3% to a three-week low at the €0.43 level on a single trade of 76,455 shares. Today, MaltaPost announced that the Malta Communications Authority (‘MCA’) approved its previous requests to revise tariffs related to the Universal Services Obligation (‘USO’). The changes to the tariffs will be affected as from 28 August 2023. MaltaPost explained that the changes are expected to alleviate the negative impact of services covered by the USO on the company’s financial performance.

On the other hand, Malta Properties Company plc surged by 4.1% to the €0.408 level across two trades totalling 30,000 shares.

Today, Malita Investments plc published its interim results for the six-month period ending 30 June 2023. Operating profit amounted to €4.14 million. Meanwhile, Malita also accounted for positive fair value movements of investment property of €7.30 million. The net profit for the period amounted to €10.4 million. The Directors also declared a net dividend of €0.00858 per share payable on 26 September 2023 to shareholders as at close of trading on 1 September 2023. The net dividend is 23% lower than the corresponding net interim dividend of €0.0112 paid in September last year reflecting the effect of a higher tax rate on an unchanged gross dividend.

Santumas Shareholdings plc announced that its Board of Directors is scheduled to meet on Tuesday 29 August 2023 to consider and approve the company’s audited financial statements for the year ended 30 April 2023.

The RF MGS Index declined by 0.27% to 863.850 points. Today, Tom Barkin, a member of the Federal Open Market Committee stated that he expects a soft landing for the US economy with no major recession if inflation continues to ease.

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.