HSBC share price hits new four-year high

The MSE Equity Price Index rose by 0.49% to a one-month high of 3,816.941 points as the gains in BOV, HSBC, GO, and MPC outweighed the declines in Trident & PG. Meanwhile, six other equities closed unchanged as today’s trading activity in local equities amounted to €0.34 million. Download today’s Equity Market Summary.

HSBC Bank Malta plc advanced by 0.7% to a fresh four-year high of €1.40 across ten deals totalling 61,102 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 in the banking sector, Bank of Valletta plc climbed by 1.5% to a one-month high of €1.36, after recovering from an intra-day low of €1.33 (-0.7%) across nineteen deals amounting to 76,780 shares.

GO plc moved 1.9% higher to the €3.16 level as 12,500 shares changed hands.

Malta Properties Company plc surged by 10% to the €0.33 level, albeit on trivial volumes.

On the other hand, PG plc shed 1% to the €2.06 level on a single trade of 1,000 shares.

Trident Estates plc moved 0.9% lower to the €1.16 level on muted activity.

Malta International Airport plc closed unchanged at the €5.85 level after recovering from an intraday low of €5.80 (-0.9%) across nine trades amounting to 10,531 shares. Yesterday, 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. After accounting for finance costs amounting to €2.17 million and investment income of €1.48 million, and a tax charge of €21.9 million, MIA reported 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.

The ordinary shares of RS2 plc traded flat at the €1.02 level on two trades of 8,000 shares.

Hili Properties plc held the €0.21 level across three trades amounting to 19,844 shares.

Lombard Bank Malta plc closed unchanged at the €0.85 level across four trades totalling 23,102 shares after recovering from an intra-day low of €0.83 (-2.4%).

Plaza Centres plc (10,000 shares) and Tigné Mall plc (14,200 shares) remained at the €0.59 and €0.82 levels respectively.

The RF MGS Index remained practically unchanged at 885.014. Today, the German 10-year Bund yield hovered above the 2.5% level, the highest since November 2023, but eased back to the 2.4% level later in the day. Data published today showed that inflation in France during February was at 3.1%, marginally higher than the forecasted level of 3.0%. Meanwhile, inflation in Germany during February was at 2.7% in line with expectations. Elsewhere in the US, personal consumption expenses (PCE) rose by 2.4% in January, while the core PCE was at 2.8%, which is the lowest level in almost three years. Both readings were in line with expectations.

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.