Daily Review 16.04.2024

BOV and HSBC dominate trading activity


The MSE Equity Price Index remained practically unchanged at 3,735.115 points as the gains in BOV, Mapfre Middlesea and Farsons offset the declines in HSBC, Lombard, MaltaPost, and Trident. Meanwhile, Malta International Airport plc held the €5.75 level over trivial volumes. Today’s trading activity in local equities amounted to €0.14 million, with most activity taking place across the shares of BOV and HSBC. Download today’s Equity Market Summary.

Bank of Valletta plc moved 0.7% higher to the €1.41 level after recovering from an intraday low of €1.39 (-0.7%) across eleven trades totalling 45,991 shares. Shareholders as at close of trading on 26 April 2024 will be entitled to a final net dividend of €0.0455 per share.

BOV’s insurance associate Mapfre Middlesea plc surged by 4.5% to a one-month high of €1.40 on a single trade of 700 shares. Shareholders as at the close of trading on 8 May 2024 will be entitled to a net dividend per share of €0.0489.

Simonds Farsons Cisk plc advanced by 1.5% to the €6.75 level as 263 shares changed hands.

On the other hand, HSBC Bank Malta plc moved 0.7% lower to the €1.40 level across seven deals totalling 47,000 shares.

Also in the banking sector, a single deal of 1,000 shares pulled the share price of Lombard Bank Malta plc 6.2% lower to a four-month low of €0.83. Lombard is expected to publish the financial results for 2023 on 26 April.

Trident Estates plc declined by 0.8% to the €1.32 level after partially recovering from an intraday low of €1.16 (-12.8%) across three deals totalling 1,656 shares.

MaltaPost plc slumped by 8.9% to the €0.41 level on a single trade of 5,668 shares.

Today, Harvest Technology plc announced that its Board of Directors is scheduled to meet on Thursday 18 April 2024 to consider the approval of the financial statements for the year ended 31 December 2023. The Board will also consider the recommendation of a final dividend.

VBL plc announced that its Board of Directors is scheduled to meet on Wednesday 24 April 2024 to consider the approval of the financial statements for the year ended 31 December 2023.

GS Index reversed yesterday’s gains as it fell by 0.39% to a five-week low of 892.318 points as sovereign bond yields across the eurozone and the US surged. The price of natural gas in Europe rose to a four-month high following elevated tensions in the Middle East over the past few days. Elsewhere in the US, data released yesterday showed that retail sales were 0.3 percentage points higher than expected during March. Meanwhile, during a speech today, ECB President Christine Lagarde indicated that a rate cut will happen in June barring any unexpected market shocks. Mr Lagarde also stated that the ECB will closely monitor energy prices amid renewed inflationary concerns.


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.