Four equities push MSE Equity Price Index higher

 

The MSE Equity Price Index rose by 0.21% to 3,788.521 points as the gains in GO, MIDI, Farsons and Malta Properties Company outweighed the declines in MIA and the preference shares of RS2. Meanwhile, four other equities closed unchanged as today’s trading activity in local equities amounted to €0.26 million. Download today’s Equity Market Summary.

GO plc gained 1.5% to the €2.70 level across four deals totalling 4,010 shares.

MIDI plc surged by 12.7% to a one-month high of €0.248 across six deals amounting to 150,500 shares, nonetheless most of the trading took place at the previous closing price of €0.22.

Malta Properties Company plc rose by 4.1% to the €0.358 level across five trades amounting to 30,003 shares. The volume-weighted average price was of €0.341 (-0.9%).

Simonds Farsons Cisk plc moved 0.8% higher to the €6.70 level across five deals totalling 2,020 shares.

On the other hand, Malta International Airport plc shed 0.8% to the €5.85 level on two deals amounting to 1,425 shares.

The preference shares of RS2 plc slumped by 16.7% to the €0.5 level on two trades amounting to 4,838 shares.

Meanwhile, APS Bank plc traded flat at the €0.57 level as 13,400 shares changed hands.

Also in the banking sector, Bank of Valletta plc closed unchanged at the €1.70 level across sixteen trades amounting to 94,338 shares having a market value of €0.16 million.

HSBC Bank Malta plc closed unchanged at the €1.44 level over five deals totalling 3,855 shares.

Grand Harbour Marina plc closed unchanged at the €0.925 across two trades amounting to 3,500 shares.

Today, International Hotel Investments plc announced that it has entered into a partnership with Kuwaiti-based conglomerate Action Real Estate Company to explore development and investment opportunities for luxury hotels and real estate at prime locations in the Americas and beyond.

Main Street Complex plc announced that the company continued to operate profitably throughout 2024, maintaining a robust financial position with no external borrowing apart from normal trade credit. However, the Board has observed that trading activity has generally subsided, most likely impacted by the emergence of new malls throughout the island, leading to a reduction in footfall compared with the same period last year. The company explained that this recent trend has affected sales activity and investment appetite among retail operators, including a number of the company’s tenants, therefore negatively impacting the company’s profitability. The Board noted that a small number of concessions expired this year and are yet to be replaced.  Efforts to line up potential prospective tenants in case of non-renewals have been met with moderate interest. Furthermore, most concession agreements are due for renewal at the end of 2025 and discussions with existing as well as prospective tenants are underway. While a number of existing tenants have shown interest in renewing concession agreements, others remain undecided in view of concerns about the aforesaid rising competition in the retail sector. In this respect, the Board has embarked on an exercise to explore alternative strategies aimed at maximising the return on the company’s investment.

The RF MGS Index rose for the eighth consecutive session as it increased by a further 0.10% to a two-year high of 928.371 points. Today, ECB Board member Piero Cipollone raised concerns that potential upcoming tariffs by the US will negatively impact economic growth, and also increase the probability that inflation will undershoot the ECB’s 2% target. Elsewhere in the US, Federal Reserve Members John Willams and Christopher Waller advocated that monetary policy is still restrictive and showed an inclination towards favouring another rate cut during the Federal Reserve’s next monetary policy meeting later this 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.