APS dominates trading activity ahead of Q3 results

 

The MSE Equity Price Index remained relatively unchanged at 3,827.140 points as the gains in APS and Malta Properties were offset by declines in HSBC, M&Z and Plaza. Meanwhile, three other equities closed unchanged as today’s total trading activity in local equities amounted to €0.1 million. Download today’s Equity Market Summary.

APS Bank plc was today’s most actively traded equity as it gained 1.8% to the €0.58 level across ten deals amounting to 105,092 shares. Tomorrow, APS will be publishing its financial results for the nine-month period ended 30 September 2024.

Malta Properties Company plc increased by 0.6% to the €0.34 level on trivial volumes.

In contrast, HSBC Bank Malta plc shed 0.7% to the €1.42 level on a single trade of 988 shares. Yesterday, HSBC Malta issued an Interim Directors’ Statement updating the market on its performance during the nine-month period ended 30 September 2024. The Bank explained that revenue increased by €19.0 million or 11% when compared to the comparable period last year. The financial performance of HSBC Malta was also boosted by a release in Expected Credit Losses of €10.8 million in the first nine months of 2024. HSBC Malta reported a profit before tax for the first nine months of 2024 amounting to €118.0 million, an increase of 17% over the €100.8 million in pre-tax profits reported in the same period last year.

Plaza Centres plc fell by 3.2% to the €0.61 level on two trades amounting to 7,000 shares.

M&Z plc declined by 1.7% to €0.57 as 14,860 shares changed hands.

Bank of Valletta plc closed unchanged at the €1.76 level over eleven trades amounting to 12,233 shares. Tomorrow, BOV will be publishing its financial results for the nine-month period ended 30 September 2024.

Main Street Complex plc and MaltaPost plc both held the €0.32 and €0.452 levels respectively over trivial volumes.

The RF MGS Index decreased by 0.03% to 914.084 points. Data released today showed that the economy in the euro area during the third quarter of 2024 grew by 0.4% compared to forecasts of 0.2%. The stronger than expected growth in Germany, France and Spain outweighed an unexpected flat performance in Italy. The data contrasts with the recent worries of a weakening economy in the bloc expressed by some ECB Board Members as well as the IMF. Notably, Germany avoided a technical recession as the economy grew compared by 0.2% quarter-over-quarter compared to the projected 0.1% decline. Elsewhere in the US, GDP growth in the third quarter was at 2.8%, lower than expectations of 3%. Nonetheless, there was still notable increase in spending and consumption when compared to the previous quarter.

 

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.