BOV share price climbs to 7-year high of €1.90

The MSE Equity Price Index rose by 0.90% to 3,861.063 points as the gains in APS, BOV, and GO outweighed the declines in MIA and the ordinary shares of RS2. Meanwhile, four other equities closed unchanged as today’s trading activity in local equities amounted to €0.27 million. Download today’s Equity Market Summary.

Bank of Valletta plc surged by 3.8% to a 7-year high of €1.90 across twenty-two trades amounting to 48,548 shares.

Also in the banking sector, APS Bank plc moved 0.8% higher to the €0.62 level over four trades amounting to 2,891 shares. Today, APS announced that its Board of Directors 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. The Directors will also consider the declaration of a dividend, subject to regulatory approval.

GO plc advanced by 0.8% to the €2.68 level across six deals amounting to 11,879 shares.

On the other hand, Malta International Airport plc shed 0.8% to the €6.10 level on a single deal of 332 shares. MIA will publish its 2024 annual results next Monday.

The ordinary shares of RS2 plc fell by 0.4% to the €0.478 level on one trade of 1,144 shares.

Meanwhile, BMIT Technologies plc closed unchanged at the €0.32 level across three deals amounting to 15,000 shares.

HSBC Bank Malta plc traded flat at the €1.54 level as 70,480 shares changed hands. Yesterday, HSBC published its 2024 annual results which showed an increase across all income streams. In particular, net interest income increased by 5.2% to €206.1 million. The Group also benefitted from higher net fee income, net trading income and an improved performance of its insurance company. The financial performance was also boosted by the release of ECL’s amounting to €14.6 million. Overall, HSBC Malta reported a profit before tax of €154.5 million, which is 15.4% higher than the pre-tax profit of €133.9 million generated in the previous year. The net profit for the year amounted to a record of €100.1 million (equivalent to €0.2778 per share) which translates into a return on average equity of 17.5%. As at 31 December 2024, total equity amounted to €600.9 million, which translates into a net asset value per share of €1.6678. The Board of Directors is recommending a final net dividend of €0.078 per share. The dividend will be paid on 20 May 2025 to all shareholders as at close of trading on 9 April 2025 subject to approval by the Annual General Meeting scheduled for 13 May 2025. Coupled with the net interim dividend of €0.065 per share paid in September 2024, the total net dividend attributable for the 2024 financial year amounts to €0.143 per share, which represents a payout ratio of 51.5% (2023: 40.5%) and is the highest dividend in over a decade.

PG plc held the €1.86 level on a single trade of 13,300 shares.

International Hotel Investments plc closed unchanged at the €0.41 level on one deal of 12,500 shares. Today, IHI announced that its hotel operating arm Corinthia Hotels Limited and project management firm QP Limited have respectively signed contracts relating to a landmark mixed use 102-storey project to be developed on Dubai’s main thoroughfare. The project is at an advanced design stage and comprises two linked towers occupying some 320,000m² of floor area rising 500 meters on Sheikh Zayed Road. The development is owned by Dubai General Properties LLC which specializes in real estate projects in the UAE. IHI explained that QP Limited will provide project and cost management services, as well as design peer review of the structural engineering, building services engineering and interior design, while Corinthia Hotels Limited will provide management and expertise to operate the luxury Corinthia Hotel having approximately 120 rooms and will provide branding and servicing to luxury residences being developed in the towers

The RF MGS Index fell by 0.29% to a one-month low of 911.624 points. The minutes from January’s Federal Open Market Committee meeting were published yesterday and showed that although the US Federal Reserve did not reduce rates, policymakers are still leaning toward lowering the federal funds rate further when inflation falls closer to 2%. Nonetheless, some members noted that changes in trade and immigrations policies could delay inflation’s movement towards the target rate.

 

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.