MSE Equity Price Index climbs to a one-month high

The MSE Equity Price Index rose by 0.8% to a fresh one-month high of 3,847.546 points as the gains in six equities outweighed the decline in BMIT. Meanwhile, three other equities closed unchanged as today’s trading activity in local equities amounted to €0.15 million. Download today’s Equity Market Summary.

HSBC Bank Malta plc surged by a further 3.6% to a fresh four-year high of €1.45 across two deals totalling 1,250 shares. Last week, HSBC Malta announced that the bank generated record profit in 2023. The Board of Directors is recommending a final net dividend of €0.0585 per share to be paid on 25 April 2024 to all shareholders as at the close of trading on 14 March 2024 subject to approval by the Annual General Meeting scheduled for 18 April 2024.

Also among large companies by market value, Malta International Airport plc advanced by 0.9% to a three-month high of €5.90 on muted activity. Last Wednesday, MIA published its financial results for 2023. Total revenue surged by 36.6% to a record of €120.2 million, mostly driven by an increase in aviation-related revenues as a result of record passenger movements. The airport operator also generated its highest-ever operating profit of €62.7 million and a record net profit of €40.3 million. The Board of Directors is recommending a final net dividend of €0.12 per share to be paid not later than Friday 31 May 2024 to all shareholders as at the close of trading on Thursday 11 April 2024.

Bank of Valletta plc rose by 0.7% to a seven-week high of €1.37 across seven deals totalling 48,950 shares.

Also in the banking sector, APS Bank plc gained 0.9% to the €0.55 level across four trades totalling 8,800 shares. APS will publish its annual results for the financial year 2023 on Thursday 7 March 2024.

The ordinary shares of RS2 plc moved 3.9% higher to the €1.06 level across three trades totalling 21,005 shares.

Simonds Farsons Cisk plc increased by 0.7% to the €6.75 level albeit over trivial volumes.

BMIT Technologies plc slumped by 5.6% to a one-week low of €0.37 across three trades amounting to 119,300 shares.

Meanwhile, Lombard Bank Malta plc closed unchanged at the €0.85 level after recovering from an intraday low of €0.76 (-10.6%) as 3,317 shares changed hands.

Mapfre Middlesea plc traded flat at the €1.30 level across two trades amounting to 4,750 shares.

GO plc held the €3.16 level on a single trade of 257 shares.

The RF MGS Index rose by 0.13% to 886.197 points. Data released today showed that during February inflation in the Eurozone decreased to a three-month low of 2.6%, marginally higher than earlier projections of 2.5%. Furthermore, core inflation fell to 3.1% which is 0.2 percentage points higher than the 2.9% which was forecasted. The data reflecting resilient price growth added to the narrative that the ECB will leave the current 4.00% deposit rate unchanged until next June.

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.