Low trading activity across five equities

The MSE Equity Price Index rose by 0.16% to reach a fresh two-month high of 3,862.308 points as the gains in MIA outweighed the decline in Malita. Meanwhile, three other equities closed unchanged as today’s total trading activity in local equities amounted to just €0.07 million. Download today’s Equity Market Summary.

Bank of Valletta plc closed unchanged at the €1.78 level over five trades amounting to 27,840 shares. Today, BOV announced the allocation policy with respect to the recent offer of up to €100 million 5.00% unsecured subordinated bonds 2029-34. The Bank explained that it received a total of 3,554 applications for a total value of €171.0 million. Professional Clients and Eligible Counterparties were allotted €300,000 in full, whilst 49.7% on the remaining amounts was accepted and rounded to the nearest €100. With respect to applications were received from Existing Shareholders, Existing Bondholders and Group Employees, the first €25,000 of these applications was allocated in full, whilst 38.1% on the remaining amounts was allocated rounded to the nearest €100. Furthermore, applications from the general public were allotted the €10,000 of these applications was allocated in full whilst 6.7% of the remaining amount was allocated rounded to the nearest €100. Refunds of unallocated monies will be affected by Monday 11 November.

GO plc traded flat at the €2.80 level on muted activity.

Grand Harbour Marina plc closed unchanged at the €0.86 level on a single trade of 3,000 shares.

Malta International Airport plc gained 1.7% to the €5.95 level across six trades amounting to 2,215 shares.

Malita Investments plc shed 1.0% to the €0.515 level over trivial volumes.

Today, PG plc announced that its Board of Directors is scheduled to meet on Tuesday 26 November 2024 to consider the distribution of an interim dividend.

Computime Holdings plc published a Prospectus in relation to an offer for sale by the selling shareholders of 22,987,600 ordinary shares at an offer price of €0.45 each. Computime Holdings plc is a holding company which has interests in companies and other ventures operating in the business-to-business ICT solutions industry, primarily in Malta, but also in Europe and North Africa. The Group operates three business divisions, namely: Business Software Division, Fintech Division, and Systems Integration Division. The sale of shares by the selling shareholders represents a partial realisation of their investment in the Company. The offer period is from 4 November to 29 November 2024 (or earlier in the event of oversubscription). The minimum subscription amount was set at 3,000 shares (equivalent to €1,350) and in multiples of 200 shares thereafter.

The RF MGS Index fell by 0.11% to 908.375 points. Today, the price of oil surged by more than 2% after the OPEC+ stated that it will delay its plans to unwind its oil output curbs on the back of falling oil prices and weak demand. Furthermore, data released this morning showed that the manufacturing sector in the euro area contracted by less than anticipated, which is an indicator that the economy is more resilient than anticipated, amidst consensus of gloomy outlook for economic growth in the eurozone for the upcoming years. In particular, the growth in the manufacturing industry in Spain was much more than expected, as it expanded by largest rate in over two years.

 

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.