BOV to consider an interim dividend next week

 

The MSE Equity Price Index fell by 0.24% to 3,771.673 points as the declines in APS, AX Real Estate, BMIT, Mapfre Middlesea, Malta Properties, and MaltaPost outweighed the gains in GO, Lombard, Malita, and PG. Meanwhile, five other equities closed unchanged as today’s trading value in local equities was muted at about €71,000. Download today’s Equity Market Summary.

Following the close of trading, Bank of Valletta plc announced that its Board of Directors is scheduled to meet on Wednesday 16 October 2024 to consider a declaration of an interim dividend. The equity did not trade for the first time in nearly three months. In a separate announcement, BOV announced the approval of the Base Prospectus for the €250 million Bond Programme. The Final Terms for the first tranche consisting of up to €100 million 5% unsecured subordinated bonds maturing in 2029-2034 were also approved. The offer period will open on Tuesday 22 October 2024.

APS Bank plc shed 1.7% to the €0.57 level across five deals amounting to 6,513 shares.

Mapfre Middlesea plc declined by 1.1% to the €1.32 level on muted activity.

MaltaPost plc slumped by 6.3% to the €0.45 level over three trades amounting to 3,100 shares.

AX Real Estate plc plummeted by 10.7% to an all-time low of €0.402 level across three deals amounting to 10,000 shares.

Also in the property sector, Malta Property Companies plc moved 1.1% lower to the €0.346 level across three deals amounting to 10,000 shares.

BMIT Technologies plc fell by 7.3% to the €0.33 level across four trades totalling 20,000 shares.

On the other hand, BMIT’s parent company GO plc increased 0.7% to the €2.72 level on a single deal of 1,200 shares.

Malita Investments plc gained 1.9% to the €0.53 level as 22,400 shares changed hands.

PG plc climbed 1.1% higher to the €1.92 level over six trades totalling 5,200 shares.

Lombard Bank Malta plc moved 1.3% higher to the €0.79 level on muted activity.

Malta International Airport plc traded flat at the €6.00 as 2,570 shares changed hands.

HSBC Bank Malta plc remained at the €1.46 level over three deals totalling 4,100 shares.

Hili Properties plc held the €0.266 level on two trades amounting to 21,500 shares.

M&Z plc and Plaza Centres plc closed unchanged at the €0.59 and €0.63 levels respectively on muted activity.

The RF MGS Index increased by 0.1% to 913.118 points. Nonetheless, the RF MGS Index registered a weekly decline of 0.35%, the largest since last June. Yields in the euro area and the US continued to increase with the German 10-year bund yield rising close to a one-month high of 2.30% whilst the US 10-year treasury yield reached a two-month high of 4.10%. Data released today showed that producer prices in the US increased by 1.8% in September, compared to expectations of 1.6%. Furthermore, core producer prices were 2.8%, also above projections of 2.7%.

 

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.