Declines in six equities outweigh gains in BOV and HSBC

The MSE Equity Price Index fell by 0.24% to 3,795.634 points as the declines in GO, Hili Properties, Harvest, MIDI, MPC, and RS2 outweighed the gains in BOV and HSBC. Meanwhile, five other equities closed unchanged as today’s trading activity across local equities amounted to €0.13 million. Download today’s Equity Market Summary.

HSBC Bank Malta plc climbed by 0.7% to a two-month high of €1.45 across six trades totalling 21,907 shares. Today, HSBC Malta held an Extraordinary General Meeting in which shareholders approved a resolution to allow the company to furnish and disclose information in connection with a potential transaction involving its majority shareholder. HSBC Malta will publish its 2024 annual results on Wednesday 19 February 2025 and the Directors will also consider the declaration of a final dividend to be recommended to the Bank’s Annual General Meeting which will be held on Tuesday 13 May 2025.

Bank of Valletta plc moved 0.6% higher to the €1.79 level across ten trades totalling 23,530 shares.

Also in the local banking sector, APS Bank plc traded flat at the €0.62 level across 8,047 shares.

Malta International Airport plc held the €6.15 on muted activity. Yesterday evening, MIA published the January 2025 traffic results. Passenger movements reached a new record for January and amounted to 507,574 passenger movements, which is 9.0% higher than the previous record registered in January 2024. Meanwhile, the seat load factor for January 2025 declined marginally to 73.8% compared to 74.0% in January 2024. However, the airport operator noted that seat capacity increased by 9.3% when compared to the same month last year.

Plaza Centres plc remained at the €0.58 level as 50,464 shares changed hands.

Malta Investments plc closed unchanged at the €0.50 level after recovering from an intraday low of €0.49 (-2.0%).

The preference shares of RS2 plc held the €0.49 level on trivial volumes.

In contrast, the ordinary shares of RS2 plc plunged 6.2% to a multi-year low of €0.45 across four deals totalling 16,106 shares.

GO plc fell by 2.3% to the €2.60 level across three trades totalling 1,567 shares.

Hili Properties plc eased by 0.5% to the €0.193 level on a single trade of 11,774 shares.

Also in the property sector, MIDI plc (-1.7%) and Malta Properties Company plc (-9.8%) also moved lower to the €0.23 and €0.35 levels respectively.

Harvest Technology plc dropped by 11.1% to the €0.80 level on trivial volumes.

The RF MGS Index fell for the third consecutive session as it shed a further 0.08% to an over one-week low of 913.400 points. Following yesterday’s higher-than-expected inflation reading in the US, short-dated treasury yields moved higher implying that the market is no longer pricing in a rate cut in June but only expecting a cut in September. Some analysts also reported that they are not expecting any reductions to the federal funds rate this year. Elsewhere in the UK, a preliminary estimate showed that the UK economy is expected to have grown by 0.1% in the fourth quarter of 2024, ahead of expectations of a contraction. The economy had no growth in the third quarter of 2024.

Today, the Treasury Department established the prices for the two new Malta Government Stocks as follows:

(i) 3.00% MGS 2030 (IV) at 101.00% for every €100 nominal giving a yield-to-maturity of 2.8082% per annum; and

(ii) 3.50% MGS 2035 (III) at 100.50% for every €100 nominal giving a yield-to-maturity of 3.4438% per annum.

Subscriptions for the General Public open on Monday 17 February 2025 and close on Wednesday 19 February 2025 at 14:30 hrs – or earlier at the discretion of the Accountant General.

 

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.