Muted trading activity in local equities

The MSE Equity Price Index increased by 0.09% to 3722.349 points as the gains in BMIT and MIA outweighed the decline in The Convenience. Meanwhile, two other equities closed unchanged as today’s total trading activity amounted to just over €50,000. Download today’s Equity Market Summary.

BMIT Technologies plc gained 0.7% to the €0.30 level over three deals totalling 7,666 shares. Yesterday, BMIT announced that following the fulfilment of the conditions precedent of the Share Purchase Agreement, it purchased 49,642,139 ordinary shares of Malta Properties Company plc, which represent 49% of the total issued share capital of MPC.

Malta International Airport plc moved 0.9% higher to the €5.90 level as 200 shares changed hands.

On the other hand, The Convenience Shop (Holdings) plc fell by 1.3% to the €0.79 level over trivial volumes.

Meanwhile, FIMBank plc closed unchanged at the USD0.25 level across six trades amounting to 106,810 shares. Yesterday, FIMBank announced that it was informed that Jordan Kuwait Bank (JKB) intends to proceed with the acquisition process of a controlling stake in FIMBank. The contemplated transaction involves the acquisition by JKB of the 80.4% shareholding in FIMBank held by United Gulf Holding Company B.S.C. (UGH) as well as the 8.5% shareholding held by Burgan Bank K.P.S.C. (Burgan Bank). UGH, Burgan Bank, and JKB are all subsidiaries of the Kuwait Projects Company (Holding) KSCP (KIPCO). The completion of this transaction is subject to obtaining the required regulatory approvals from the competent authorities in Jordan and Malta including the Central Bank of Jordan and the Malta Financial Services Authority in addition to the European Central Bank.

Similarly, Bank of Valletta plc also closed unchanged at the €1.88 level over seven deals amounting to 14,622 shares. Last Wednesday, BOV issued a Quarterly Financial Update providing information about its performance during the nine-month period ended 30 September 2025 when compared to the same period in 2024. Net interest income decreased by 1.4% to €286 million (3Q 2024: €291 million) driven by a 12.7% increase in interest expenses to €43.9 million from €38.9 million last year. Net fees and commission income climbed 9.5% higher to €61.9 million (3Q2024: €56.6 million). BOV also registered trading profits of around €9.9 million. Meanwhile, BOV’s financial performance was negatively impacted by a €5.2 million impairment charge. Net operating income amounted to €360 million. On the expenditure side, operating costs rose by 15.6% to €175 million. BOV also recognised net profits of €7.0 million from its share of results of associates. Overall, BOV recorded a pre-tax profit of €192 million, which is 14.2% lower than the €224 million generated in the same period last year. BOV’s net profit for the first nine months of 2025 amounted to €127 million, which translates into an annualised return on average equity of 11.6%. BOV reported growth in both its customer loans (+€784 million) and customer deposits (+€577 million). Total equity increased by 2.9% (or €41 million) to €1.45 billion, which translates into a net asset value per share of €2.256 (31 December 2024: €2.192).

The RF MGS Index remained largely unchanged at 914.612 points. Euro area inflation eased to 2.1% in October, in line with market expectations and down from 2.2% in September. The decline was driven by the lower energy prices and the slower price growth in food, alcohol and tobacco, as well as non-energy industrial goods, which offset higher inflation in services. The deflation in energy reflects persistent oversupply, with energy prices still under pressure as OPEC+ signalled possible production increases amid high Saudi Arabian exports and US oil output.

 

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.