Positive movements in several property equities

 

The MSE Equity Price Index increased by 0.17% to 3,793.064 points as the gains in Malita, Malta Properties Company, Plaza, VBL and the ordinary RS2 outweighed the declines in GO, IHI, Medserv and MaltaPost. Meanwhile two other equities closed unchanged as today’s total trading activity in local equities €0.16 million. Download today’s Equity Market Summary.

Malita Investments plc increased by 1.0% to the €0.505 on a single trade of 15,000 shares.

Also in the property sector, Malta Properties Company plc surged by 6.4% to the €0.366 level on one deal of 15,000 shares.

VBL plc rose by 12.8% to the €0.22 level over trivial volumes.

Plaza Centres plc (+5.3%) and the ordinary shares of RS2 plc (+4.2%) increased to the €0.60 and €0.50 levels respectively, both on muted activity.

On the other hand, GO plc declined by 1.4% to the €2.74 level on one deal of 6,000 shares.

International Hotel Investments plc moved 0.4% lower to the €0.484 level as 1,500 shares changed hands.

MedservRegis plc shed 2.0% to the €0.49 level on one trade of 24,622 shares. Yesterday, MedservRegis issued an Interim Report providing information on their financial and business performance during the nine-month period ended 30 September 2024. The Medserv Group generated total revenue of €50.2 million which was practically unchanged compared to the corresponding period in 2023. The 27.4% increase in revenue from OTCG to €26.5 million (Q3 2023 YTD €20.8 million) fully offset the 20% decline in turnover from ILSS to €23.3 million (Q3 2023 YTD €29.1 million). EBITDA during the nine-month period amounted to €12.6 million which is 7.7% higher than the €11.7 million reported for the same period last year. The growth in EBITDA is reflective of improved margins strengthening the Group’s profitability from its core operations. In this respect, the EBITDA margin for the first nine months of the year improved to 25.1% compared to 23.3% in the first three quarters of 2023.

MaltaPost plc fell by 2.0% to the €0.50 level on a single deal of 9,958 shares

Meanwhile, Bank of Valletta plc closed unchanged at the €1.70 level as 53,039 shares changed hands.

Malta International Airport plc held the €5.90 level on one trade of 4,200 shares.

The RF MGS Index rose by 0.33% to 914.989 points, as sovereign bond yields in the euro area declined considerably today amidst further data showing weakness in the economy. In this respect, private sector activity in the euro area during October unexpectedly declined, mostly driven by fresh weakness in the previously resilient service sector. Moreover, there was also a deeper than anticipated contraction in the manufacturing sector.  On the other hand, the US private sector activity in October saw the strongest growth since early 2022 as considerable growth in the services sector outweighed declines in manufacturing.

 

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