Farsons climbs to 3-month high

The MSE Equity Price Index advanced by 0.19% to 3,768.056 points as the gain in Farsons outweighed the declines in APS, Computime, and Malta Properties. Meanwhile, five other equities closed unchanged as today’s trading activity amounted to €0.17 million. Download today’s Equity Market Summary.

Simonds Farsons Cisk plc was today’s only positive performer as the equity surged by 7.7% to a 3-month high of €6.30 on two deals totalling 830 shares. Earlier this week, Farsons published the agenda for the upcoming Annual General Meeting which is scheduled to be held on 26 June 2025. One of the resolutions relates to the approval of the spin-off of its shareholding in Quinco Holdings plc by way of a distribution of a ‘dividend-in-kind’. Quinco Holdings plc will be the holding company of Quintano Foods Limited and Food Chain Limited, which are involved in the importation, wholesale, and retail of food and the operation of franchised food retailing establishments. Quinco Holdings’ net asset value is estimated to amount to €46.8 million on a pro forma basis as at 31 January 2025, assuming that the corporate restructuring is completed and the planned cash injection of €5.0 million is carried out. Based on a share capital base of 36 million shares, the net asset value per share amounts to €1.30, which may change until the date of listing, albeit changes are not expected to be material. The Explanatory Circular referenced that the spin-off and eventual listing of Quinco Holdings plc is expected to be concluded by 31 December 2025.

Meanwhile, Malta Properties Company plc fell by 6.3% to the €0.30 level across five trades amounting to 7,000 shares.

APS Bank plc shed 2.7% to the €0.545 level across four trades totalling 24,146 shares.

Computime Holdings plc eased by 0.4% to the €0.46 level. Computime shareholders as at the close of trading on 10 June 2025 will be entitled to a final net dividend of €0.0077 per share subject to shareholders’ approval at the upcoming Annual General Meeting scheduled for 12 June 2025.

Today’s most actively traded equity was Bank of Valletta plc which accounted for 68% of all value traded. The share price of BOV closed unchanged at the €2.00 level as 57,996 shares changed hands.

Malta International Airport plc traded flat at the €5.95 level across six deals amounting to 2,677 shares.

International Hotel Investments plc (20,000 shares) and Hili Properties plc (38,300 shares) traded flat at the €0.43 and €0.24 levels respectively.

GO plc held the €2.50 level on trivial volumes.

Today, MedservRegis plc published an interim report providing an overview of the company’s performance during the first three months of 2025 compared to the same period last year. Revenue increased by 26% to €21.7 million, reflecting the surge in income from the Integrated Logistics Support Services segment (+56% to €12.8 million) which was primarily driven by ongoing offshore drilling operations serviced from Malta and Cyprus.  Meanwhile, revenue from Oil Country Tubular Goods (OCTG) and Photovoltaic Farm remained virtually unchanged at €8.8 million and €0.1 million respectively. In line with the increase in revenue, EBITDA also increased by 26% to €4.9 million and the EBITDA margin remained virtually unchanged at 22.7%. The company highlighted that the strategic focus is for margin growth.

The RF MGS Index dropped by 0.16% to 917.343 points. This week, the index lost 0.20% reflecting a marginal upward movement in sovereign bond yields. Despite that yesterday the ECB cut interest rates by a further 25 basis points and also lowered its inflation expectations, sovereign bond investors are seeking a higher yield across the yield curve. The German 10-year bund yield touched an intraday high of 2.58% while the 20-year bund yield reached nearly 3%. Meanwhile in the US, employment data showed that the number of new employees increased by 139 thousand in May, above expectations. Furthermore, the average hourly rate also increased.

 

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.