Daily Review 04.10.2024

BOV to issue €100m 5% unsecured subordinated bonds

The MSE Equity Price Index eased by 0.07% to 3,764.160 points as the declines in MIA and Mapfre Middlesea outweighed the gains in IHI and Santumas. Meanwhile, six other equities closed unchanged as today’s trading activity was once again subdued at just €0.08 million. Download today’s Equity Market Summary.

Bank of Valletta plc closed unchanged at the €1.68 level across six trades amounting to 17,558 shares. Today, BOV announced that the Board of Directors approved a draft base prospectus in respect of an Unsecured Euro Medium Term Bond Programme of up to €250 million and filed an application with the Malta Financial Services Authority requesting admissibility to listing of the Programme. Subject to regulatory approval, BOV will be issuing the first tranche consisting of up to €100 million 5% unsecured subordinated bonds maturing in 2029-2034. Further details will be published once regulatory approval is obtained.

Also in the banking sector, HSBC Bank Malta plc closed unchanged at the €1.48 level over five trades totalling 7,208 shares.

PG plc held the €1.90 level on a single deal of 1,040 shares.

MaltaPost plc traded flat at the €0.48 level as 16,563 shares changed hands.

MIDI plc held the €0.25 level on two trades amounting to 15,100 shares.

MedservRegis plc closed unchanged at the €0.44 level over trivial volumes.

Malta International Airport plc declined by 0.8% to the €5.95 level on negligible activity.

Mapfre Middlesea plc shed 2.3% to the €1.24 level across five deals totalling 11,911 shares.

International Hotel Investments plc gained 1.4% to the €0.422 level on a trade of 3,389 shares.

Santumas Shareholding plc rose by 2.4% to the €1.25 level across three deals amounting to 4,265 shares.

The RF MGS Index fell by 0.21% to 916.311 points, for a total weekly decline of 0.27%. Today, the German bund yield rose for the third consecutive session to reach a two-week high of 2.20%. The escalating conflict in the Middle East continued to push pressure on oil prices, which climbed to a one-month high of USD78. As such, the price of crude oil registered the largest weekly gain since January 2023. Elsewhere in the US, the labour market registered its strongest growth in six months as the US economy added 254 thousand jobs, well above expectations.

 

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.