Daily Review 01.07.2024

MSE Equity Price Index climbs to one-month high on robust volumes


The MSE Equity Price Index advanced by 0.57% to a one-month high of 3,751.444 points as the gains in BOV, GO, HSBC, Malita, and PG outweighed the declines in APS, Farsons, and MaltaPost. Meanwhile, five other equities closed unchanged as trading activity in local equities reached a three-month high of €1.0 million. Download today’s Equity Market Summary.

Bank of Valletta plc advanced by 0.7% to a 7-week high of €1.45 across sixteen trades amounting to 168,893 shares.

Also in the banking sector, HSBC Bank Malta plc increased by 2.7% to the €1.54 level across seven trades amounting to 64,000 shares.

GO plc was today’s most actively traded equity as it climbed by 0.7% to the €2.92 level across six deals totalling 91,030 shares having a market value of €0.27 million. Today, GO announced that the acquisition of a 51% equity stake in AQS Med Limited, a market leader in the local renewable energy sector, was concluded on 28 June 2024.

PG plc rose by 2.1% to an almost one-month high of €1.98 as 75,000 shares changed hands. Shareholders of PG as at close of trading on Wednesday 3 July 2024 will be entitled to receive a net interim dividend of €0.0416667 per share which will be paid on Friday 12 July 2024.

Malita Investments plc reversed last Friday’s losses as it rebounded by 4.3% to the €0.48 level across five deals totalling 48,250 shares.

On the other hand, APS Bank plc declined by 1.0% to the €0.51 level on muted activity.

Simonds Farsons Cisk plc moved 0.7% lower to the €7.00 level on two deals totalling 1,220 shares.

MaltaPost plc slumped by 6.3% to a one-week low of €0.42 on three trades totalling 35,714 shares.

Meanwhile, Malta International Airport plc closed unchanged at the €5.70 level across four deals amounting to 37,640 shares.

The ordinary shares of RS2 plc held the €0.85 level on a single trade of 3,000 shares.

International Hotel Investments plc closed unchanged at the €0.43 level after recovering from an intraday low of €0.412 (-4.2%). Last week, IHI published updated forecasts for 2024 which showed that revenue is expected to increase by 6.7% to a record of €307 million, but EBITDA is projected to fall by 2.4% to €58.9 million compared to €60.3 million in 2023, since expenses are expected to increase at a faster pace than income. In this respect, IHI explained that Group’s performance is being impacted by hotel pre-opening costs in Brussels and Rome.

BMIT Technologies plc closed unchanged at the €0.35 level across three trades amounting to 12,284 shares.

Trident Estates plc held the €1.25 level over trivial volumes.

The RF MGS Index fell for the fourth consecutive session as it eased 0.14% to a two-week low of 886.542 points reflecting the increase in eurozone sovereign bond yields. Particularly the German 10-year bund yield rose to a two-week high of 2.58% whilst the French 10-year bond yield rose to about 3.33%, the highest since last October, as preliminary data from the ongoing French election indicated a notable decrease in support for the incumbent party. Meanwhile, data released today showed that inflation in Germany during June slowed more than expected to 2.5% as the lower energy costs outweighed the higher food prices.


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.