HSBC Malta shares at a fresh 5-year high

The MSE Equity Price Index increased by 0.13% to 3,692.991 points as the gains in APS, HSBC and Farsons outweighed the declines in BOV, PG, and BMIT. Meanwhile, two other equities closed unchanged as the total trading activity in local equities amounted to €0.13 million. Download today’s Equity Market Summary.

HSBC Bank Malta plc extended last Friday’s gains as it rose by a further 2.6% to a fresh five-year high of €1.60 across three deals comprising a total of 25,000 shares. HSBC is scheduled to publish its interim results on Wednesday 31 July 2024. The Directors will also consider the declaration of an interim dividend.

Also in the banking sector, APS Bank plc moved 2.9% higher to an almost two-month high of €0.53 level across eight deals totalling 34,812 shares. APS will publish its interim financial results this Thursday 25 July 2024. The Directors will also consider the declaration of an interim dividend.

Simonds Farsons Cisk plc increased by 0.7% to the €6.90 level across three trades amounting to 2,000 shares.

On the other hand, Bank of Valletta plc shed 1.4% to the €1.45 level across 37,989 shares. Today, BOV announced that its Board of Directors is scheduled to meet on Monday 29 July 2024 to consider the approval of the interim financial statements for the six-month period ended 30 June 2024.

PG plc (-1.0%) and BMIT Technologies plc (-3.4%) both declined over trivial volumes to the €1.94 and €0.344 levels respectively.

Malta International Airport plc held the €5.55 level on a single deal of 125 shares. MIA’s Board of Directors is scheduled to meet on Thursday 1 August 2024 to consider the approval of the interim financial statements for the six-month period ended 30 June 2024. The Directors will also consider the declaration of an interim dividend.

A single trade of 1,190 shares left the share price of International Hotel Investments plc unchanged at the €0.41 level.

The RF MGS Index fell by 0.18% to 896.985 points. Today the Bundesbank released its annual report where it flagged that there is an upward inflation risk, particularly in the service sector, driven by a strong labour market as well as potential supply-side disruptions. In this regard, the Bundesbank advocated caution before implementing future rate cuts. Meanwhile, the Bundesbank also noted that the economy in Germany likely grew at a slower pace than expected during the first half of the year dampening hopes of an imminent industrial rebound.

 

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.