Five equities lift the MSE Equity Price Index

The MSE Equity Price Index climbed by 0.13% to 3,770.204 points as the gains in HSBC, Hili Properties, MIA, Plaza and Farsons outweighed the declines of BMIT, GO, and FIMBank. Meanwhile, five other equities closed unchanged as trading activity improved to €0.18 million. Download today’s Equity Market Summary.

Plaza Centres plc surged by 5% to the €0.63 level on notable activity totalling 64,013 shares.

Also in the property sector, Hili Properties plc advanced by 1.8% to the €0.224 level across five deals totalling 93,700 shares.

Simonds Farsons Cisk plc rebounded by 3.1% to the €6.70 level on a single deal of 490 shares. Earlier this week, Farsons published the interim results for the six-month period ended on 31 July 2024. Revenue increased by 7% to a record at interim stage of just under €70 million. Operating profit surged by 15.8% to €10.1 million reflecting an improvement in margins across both the food and beverage business lines. The net profits for the period reached a record of €8.83 million. The Board of Directors resolved to distribute a net interim dividend of €0.06 per share, which is 20% higher than last year’s interim dividend. The dividend will be paid on Wednesday 16 October 2024 to shareholders as at close of trading on Monday 30 September 2024.

Malta International Airport plc advanced by 0.8% to the €6.00 level on volumes totalling 563 shares.

Also among the large companies by market value, HSBC Bank Malta plc climbed by 0.7% to the €1.48 level across three deals totalling 2,111 shares.

In contrast, BMIT Technologies plc fell by 3.9% to the €0.344 level across notable volumes totalling 115,970 shares.

Likewise, BMIT’s parent company GO plc eased by 1.4% to the €2.76 level. Today, GO announced that it is currently in discussions for the possible acquisition of all the shares of Klikk Finance plc.

FIMBank plc slumped by 5.3% to the USD0.16 level across three deals totalling 44,071 shares.

Bank of Valletta plc closed unchanged at the €1.69 level as 5,987 shares changed hands.

Malta Properties Company plc (22,000 shares) and the ordinary shares of RS2 plc (5,500 shares) closed unchanged at the €0.33 and €0.54 levels respectively.

Tigné Mall plc and The Convenience Shop (Holding) plc both held the €1.00 level on muted activity.

The RF MGS Index advanced by 0.35% to 918.750 points and reached the highest level since the end of August 2022. Eurozone yields continue to fall following soft inflation data in France and Spain.

Today, the Treasury announced the issue of two new Malta Government Stocks for an aggregate nominal amount of €270 million subject to an over-allotment option of up to a further €130 million. The 2 new fixed-rate stocks are the 2.80% MGS 2030 (III) and the 3.25% MGS 2034 (IV). The prices of these two new MGSs will be announced on Thursday 3 October 2024. Subscriptions for the General Public open on Monday 7 October 2024 and close on Wednesday 9 October 2024.

 

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.