Farsons falls to four-year low

 

The MSE Equity Price Index rose by 0.14% to 3,906.935 points as the gains in BMIT, GO, Lombard, Medserv, Mapfre Middlesea, Malta Properties and PG outweighed the declines in HSBC, IHI, Farsons and VBL. Meanwhile, four other equities closed unchanged as today’s trading activity in local equities amounted to €0.14 million. Download today’s Equity Market Summary.

Simonds Farsons Cisk plc shed 0.8% to a four-year low of €6.30 level across six trades amounting to 1,666 shares.

HSBC Bank Malta plc moved 0.6% lower to the €1.55 level over three deals totalling 9,804 shares.

International Hotel Investments plc fell by 2.7% to the €0.438 level on two deals amounting to 24,000 shares. Today, IHI announced that the recent offer of €35 million 5.30% unsecured bonds 2035 will be closed ahead of schedule on 7 March 2025 at noon. As a result, the Intermediaries Offer scheduled for 21 March 2025 will not take place. The company stated that it will be announcing the basis of acceptance by 17 March 2025.

VBL plc slumped by 7.8% to the €0.165 level on a single trade of 12,750 shares.

On the other hand, BMIT Technologies plc surged by 2.9% to the €0.35 level on two deals totalling 20,000 shares. The Board of Directors is scheduled to meet on Tuesday 11 March 2025 to consider the approval of the financial statements for the year ending 31 December 2024. The Directors will also consider the declaration of a final dividend.

Likewise, BMIT’s parent company GO plc moved 1.5% to the €2.72 level over three trades totalling 2,300 shares.

A single trade of 1,875 shares pushed the share price of Mapfre Middlesea plc 6.4% higher to the €1.50 level. The Board of Directors is scheduled to meet on Tuesday 25 March 2025 to consider the approval of the financial statements for the year ending 31 December 2024. The Directors will also consider the declaration of a final dividend.

Also in the financial sector, Lombard Bank Malta plc surged by 4.0% to the €0.785 level on two deals amounting to 4,500 shares.

Malta Properties Company plc surged by 4.0% to the €0.362 level over three trades totalling 6,281 shares.

PG plc moved 0.6% higher to the €1.82 level on single deal of 1,075 shares.

MedservRegis plc gained 2.6% to the €0.40 level on one deal of 1,570 shares.

Meanwhile, Bank of Valletta plc closed unchanged at the €1.97 level over nine trades totalling 16,596 shares. The Board of Directors is scheduled to meet on Wednesday 26 March 2025 to consider the approval of the financial statements for the year ending 31 December 2024. The Directors will also consider the declaration of a final dividend.

Also in the banking sector, APS Bank plc closed unchanged at the €0.60 level on two trades amounting to 7,834 shares. The Board of Directors of APS is scheduled to meet on Thursday 13 March 2025 to consider the approval of the financial statements for the financial year ended 31 December 2024. They will also consider the declaration of a dividend, subject to regulatory approval.

Malta International Airport plc traded flat at the €6.15 level as 7,770 shares changed hands. The Board of Directors is recommending a final net dividend of €0.12 per share to be paid by not later than Saturday 31 May 2025 to all shareholders as at the close of trading on Thursday 10 April 2025, subject to approval at the upcoming Annual General Meeting scheduled for Wednesday 14 May 2025.

Grand Harbour Marina plc held the €0.90 level on a single deal of 1,999 shares.

The RF MGS Index extended yesterday’s losses as it moved 0.86% lower to the lowest level since July 2024 of 900.738 points. Yields in the euro area continued to surge today with the German 10-year bund yield hovered above 2.9% for the first time since October 2023. Today, the ECB cut its deposit rate facility by 25 basis points to 2.50%. The ECB also published updated forecasts for inflation and economic growth in 2025. In this respect, expected inflation for 2025 was increased to 2.3% (from the 2.1% which was projected last December). Moreover, inflation is forecasted to rebound back to 2.1% in 2027 after falling marginally in 2026. Meanwhile, economic growth projections were revised 0.2 percentage points lower for 2025 and 2026 to 0.9% and 1.2% respectively. Following the meeting ECB President Christine Lagarde commented that monetary policy is becoming meaningfully less restrictive, but the ECB will remain attentive to potential effects of the change in EU spending plans as a boost in defence and infrastructure spending could raise inflation through its impact on aggregate demand. Lagarde also noted that despite the planned increase in spending, economic growth risks remain tilted to the downside driven by a potential escalation in trade tensions which would potentially dampen exports and the euro area economy.

 

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.