Daily Review 05.06.2024

Mixed movements across 12 equities


The MSE Equity Price Index decreased by 0.22% to 3,701.027 points as the declines in APS, BMIT, Malta Properties as well as the ordinary and preference shares of RS2 outweighed the gains in GO, HSBC, MIA, and Malita. Meanwhile, four other equities closed unchanged, as total trading value in local equities amounted to €0.40 million. Download today’s Equity Market Summary.

The ordinary (-5.3%) and preference shares (-9.9%) of RS2 plc declined to multi-year lows of €0.90 and €0.91 respectively. A total of 16,544 ordinary shares and 5,000 preference shares changed hands. Today, RS2 held its Annual General Meeting in which all resolutions in the agenda were approved.

APS Bank plc fell by 3.8% to an all-time low of €0.50 after recovering from an intraday low of €0.496 (-4.6%) across eleven trades totalling 22,660 shares.

BMIT Technologies plc shed 3.4% to the €0.34 level across five deals amounting to 105,000 shares.

Malta Properties Company plc plummeted by 11.2% to an almost two-month low of €0.302 on two deals totalling 10,135 shares.

In contrast, Malta International Airport plc moved 0.9% higher to the €5.70 level across seven trades totalling 9,000 shares.

Malita Investments plc gained 2.1% to the €0.48 level after recovering from an intraday low of €0.454 (-3.4%) on two deals amounting to 3,856 shares.

GO plc rose by 0.7% to the €3.00 level across six trades totalling 34,900 shares.

HSBC Bank Malta plc increased by 1.4% to the €1.42 level over three deals totalling 16,877 shares.

Meanwhile, Bank of Valletta plc closed unchanged at the €1.40 level across sixteen trades amounting to 92,447 shares.

Hili Properties plc closed unchanged at the €0.21 level as 45,000 shares changed hands.

International Hotel Investments plc closed unchanged at the €0.46 level across three trades amounting to 22,461 shares. IHI is holding its Annual General Meeting on Tuesday 11 June 2024.

Santumas Shareholding plc held the €1.20 level on muted activity.

Yesterday, Harvest Technology plc provided an update on the outlook for its business for the current financial year. The company explained that following the launch of Apcopay Limited’s Synthesis payment orchestration platform in September 2023, the Company has registered an increase in processing levels driven by stronger organic growth from existing clients and from new customers that were recently onboarded. Harvest also stated that in preparation to serve customers in the banking automation hardware business and other maintenance and support services, the hardware business will be exclusively handled by Apco Limited while the software business will be handled by PTL Limited. Based on the current forecasts, the Group is expecting to achieve higher revenues of €24.6 million in 2024 compared to €14.6 million in the previous year. The strong increase in revenue reflects delays in the commencement of key contracts which were eventually awarded and confirmed in early 2024.

The RF MGS Index decreased by 0.05% to 890.624 points. Data released today showed that during May the private sector in the eurozone saw the largest growth in a year despite expanding less than forecasted. Furthermore, producer prices in the euro area fell by 5.7% year-on-year in April, notably declining by 1 percentage point month-over-month driven by a sharp drop in energy prices. Elsewhere in the US, the number of new workers employed in the private sector was the lowest in four months and below expectations.

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.