BOV climbs to three-month high of €1.90

The MSE Equity Price Index rose by 0.56% to 3,828.326 points as the gain in BOV outweighed the decline in AX Real Estate. Meanwhile, six other equities closed unchanged as today’s trading activity amounted to around €75,000. Download today’s Equity Market Summary.

Bank of Valletta plc reversed yesterday’s losses as it advanced by 2.2% to a three-month high of €1.90 across thirteen deals totalling 27,044 shares. Yesterday, BOV published its interim financial statements covering the six-month period ended 30 June 2025. Net interest income fell 2.5% to €189 million while non-interest income surged by 39.4% to €55.3 million, including a one-off gain of €6.4 million. Profit before tax decreased by 8.8% to €135 million and net profit amounted to €89.5 million. Total equity increased by 2.8% to €1.45 billion, which translates into a net asset value per share of €2.253. The board declared a net interim dividend of €0.0556 per share, payable on 2 September 2025 to shareholders as at close of trading on 14 August 2025. BOV reported an improved full-year pre-tax profit guidance for the current financial year in the range of €215 million to €250 million. BOV confirmed that its non-cancellable share buyback programme will commence on 18 August 2025 and announced plans for a €325 million Euro Medium Term Note Programme to strengthen its capital base and meet MREL requirements.

Also in the banking sector, APS Bank plc held the €0.525 level on a single trade of 6,911 shares. Yesterday, APS Bank plc also published its interim results. Net interest income rose 7.5% to €35.6 million, while non-interest income fell 4.0% to €5.1 million. Meanwhile, total operating costs increased by 17.0% to €31.6 million. Profit before tax declined by 9.6% to €9.14 million and net profit attributable to shareholders fell to €4.87 million. As at the end of June 2025, shareholders’ funds stood at €296 million, which translates into a net asset value of €0.775 per share.  The board declared a net interim dividend of €0.00472 per share, payable to all shareholders as at close of trading on 28 August 2025, and subject to regulatory approval, it will be paid on 19 September 2025. The Bank indicated that it plans to undertake a rights issue in the last quarter of this calendar year.

HSBC Bank Malta plc traded flat at the €1.43 level as 2,205 shares changed hands. On Wednesday, HSBC Malta published its interim results. Net interest income fell by 15.7% to €89.8 million while non-interest income rose by 14.9% to €24.3 million reflecting an improved performance across all other income streams. The financial performance was supported by a net reversal of expected credit losses of €3.0 million. HSBC’s profit before tax fell by 25.3% to €58.7 million. HSBC reported a net profit of €38.3 million. Since the end of 2024, shareholders’ funds increased by 2.4% (or €14.6 million) to €616 million which translates into a net asset value per share of €1.708. The Board of Directors declared an unchanged net interim dividend of €0.065 per share. The dividend is payable on 23 September 2025 to all shareholders as at close of trading on 18 August 2025.

Malta International Airport plc held the €6.00 level on muted activity. MIA will publish its interim results on Tuesday 5 August.

Hili Properties plc closed unchanged at the €0.24 level on a single trade of 19,950 shares.

PG plc traded flat at the €1.85 level on two deals amounting to 5,450 shares. Yesterday, PG announced that one of its subsidiaries, PG Finance Limited, acquired the showroom previously occupied by S&S Bathrooms with a frontage on Mosta Road, Lija, as well as the surrounding land which in all encompasses an area of circa 13,100 square metres. The property has been acquired as free and unencumbered. The sale has been made for the consideration of €19 million, of which €6 million has been paid on entry into the deed, with the remaining balance being paid in twelve instalments over a period of 72 months.

Simonds Farsons Cisk plc closed unchanged at the €6.25 level on one trade of 305 shares.

AX Real Estate plc shed 1.9% to a fresh all-time low of €0.314 on a single deal of 1,039 shares.

The RF MGS Index eased by 0.20% to 908.295 points. Data in the US showed signs of a weakening labour market. The US economy added only 73,000 jobs in July compared to market expectations of 110,000, while employment figures for May and June were revised downwards by a combined 258,000 jobs. The unemployment rate also rose to 4.2% in July from 4.1% in the previous month.

 

This report contains only public information and is not to be construed as investment advice or an offer to buy or sell 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.