Six equities drag the local equity index lower

The MSE Equity Price Index shed 0.84% to a two-month low of 3,864.016 points as the declines in APS, BOV, GO, MIA, Malita, and PG outweighed the gains in Lombard and MPC. Meanwhile, HSBC Bank Malta plc closed unchanged at the €1.47 level on muted activity. Download today’s Equity Market Summary.

APS Bank plc dropped by 1.7% to the €0.57 level across 11 trades totalling 18,778 shares. Last week, APS Bank plc announced that it is withdrawing from the bidding process to acquire the 70.03% holding of HSBC Continental Europe in HSBC Bank Malta plc. APS explained that although the Board of Directors and Executive Team were optimistic about the potential acquisition, confidential information external to the due diligence exercise has caused APS to reconsider its participation in the sale process. The Board noted that APS remains focused on growth and will be open to strategic opportunities that may arise, always guided by the highest standards of governance, transparency, ethics and financial rigour.

Also in the banking sector, Bank of Valletta plc declined by 1.9% to the €2.04 level across 13 deals totalling 42,677 shares. BOV shareholders as at close of trading on 25 April will be entitled to a final net dividend of €0.0854 per share to be paid on 12 June 2025.

GO plc fell by 2.2% to the €2.62 level across three deals amounting to 2,573 shares. GO shareholders as at the close of trading on 16 May 2025 will be entitled to a final net dividend of €0.08 per share, payable on 24 June 2025.

Malta International Airport plc eased by 0.8% to the €6.00 level over four trades totalling 3,124 shares.

PG plc shed 1.1% to the €1.88 level on a single trade of 1,000 shares.

Malita Investments plc dropped by 2.0% to the €0.48 level across three deals totalling 13,567 shares. Malita is expected to publish its 2024 results on Monday 28 April 2025. The Board of Directors will also consider the declaration of a final dividend.

Lombard Bank Malta plc climbed 2.0% to the €0.76 level on a single trade of 5,000 shares. The Directors of Lombard are recommending a final net dividend per share of €0.0221 to all shareholders as at close of trading on 22 May 2025, subject to regulatory approval as well as shareholders’ approval during the upcoming Annual General Meeting scheduled to be held on 25 June 2025. The net dividend is double than that of the previous year and translates into a payout ratio of 30.2% (2023: 18.1%). The dividend will be paid on 10 July 2025.

Malta Properties Company plc advanced by 1.7% to the €0.36 level across four deals totalling 23,187 shares. MPC shareholders as at the close of trading on Thursday 24 April will be entitled to receive a final net dividend of €0.014 per share. The dividend will be paid on Friday 30 May 2025.

Today, Medserv Regis plc published its 2024 results. The Group generated revenues of €70 million, which were lower than the €73.9 million generated in the prior year, but higher than the forecasted figure of €64 million. EBITDA amounted to €16.1 million and the net profit attributable to shareholders amounted to €1.9 million. The Directors of Medserv are recommending the payment of a final net dividend of €0.0142 per share to all shareholders as at the close of trading on 9 May 2025 subject to shareholders’ approval at the upcoming Annual General Meeting scheduled for 29 May 2025. The final net dividend is expected to be paid on 30 June 2025.

Computime Holdings plc also published the 2024 results. The Group generated revenue of €18.9 million, EBITDA of €2.78 million and a net profit of €2.19 million. The Directors of Computime are recommending the payment of a final net dividend of €0.0077 per share which is 17% higher than what was projected in the Company’s IPO Prospectus in November 2024. The final net dividend is payable on 17 June 2025 to all shareholders as at the close of trading on 10 June 2025 subject to shareholders’ approval at the upcoming Annual General Meeting scheduled for 12 June 2025.

The RF MGS Index rose by 0.36% to an almost two-month high of 918.446 points as sovereign bond yields in the euro area continued to fall. In fact, the German 10-year bund yield fell below 2.50% for the first time since the beginning of last March. On the other hand, the 10-year US treasury remained elevated at 4.40%. Consequently, the spread between the two sovereign 10-year bonds is more than 190 basis points compared to 130 basis points at the start of April. Yesterday, the US President publicly pressured the Federal Reserve Chair Jerome Powell to reduce the federal funds rate leading to concerns of government interference in the Federal Reserve which should work independently to fight inflation and support the labour market.

Today, Finance Minister Clyde Caruana remarked that the 2025 deficit projection is being revised lower to 3.3% compared to the budget projections of 3.5%. Furthermore, the deficit should comfortably fall under 3% by next year. He explained that the positive outlook is supported by higher government revenue and an economic growth rate that is higher the EU average.

 

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.