The MSE Equity Price Index rose by 0.58% to a six-month high of 3,883.521 points driven by the gains in GO, IHI, and AX Real Estate. Meanwhile, nine other equities closed unchanged as today’s trading activity in local equities amounted to €0.27 million.
GO plc moved 0.7% higher to the €2.70 level across two trades amounting to 850 shares.
International Hotel Investments plc rebounded by 9.3% to the €0.448 level albeit over trivial volumes. Yesterday, IHI announced that its hotel operating arm Corinthia Hotels Limited and project management firm QP Limited have respectively signed contracts relating to a landmark mixed use 102-storey project to be developed in Dubai. Today, IHI announced the approval of a prospectus for the upcoming issue of the €35 million 5.30% unsecured bonds 2035, which will be published on Monday 24 February 2025.
AX Real Estate plc moved 2.3% higher to the €0.44 level on a single deal of 4,533 shares. Today, AX Real Estate announced that its Board of Directors is scheduled to meet on Monday 24 February 2024 to consider the approval of the financial statements for the year ended 31 October 2024.
HSBC Bank Malta plc closed unchanged at the €1.54 level over nine deals totalling 52,764 shares. Last Wednesday, HSBC published its 2024 annual results which showed an increase across all income streams. The net profit for the year amounted to a record of €100.1 million (equivalent to €0.2778 per share) which translates into a return on average equity of 17.5%. As at 31 December 2024, total equity amounted to €600.9 million, which translates into a net asset value per share of €1.6678. The Board of Directors is recommending a final net dividend of €0.078 per share. The dividend will be paid on 20 May 2025 to all shareholders as at close of trading on 9 April 2025 subject to approval by the Annual General Meeting scheduled for 13 May 2025. Coupled with the net interim dividend of €0.065 per share paid in September 2024, the total net dividend attributable for the 2024 financial year amounts to €0.143 per share, which represents a payout ratio of 51.5% (2023: 40.5%) and is the highest dividend in over a decade.
Also in the banking sector, APS Bank plc closed unchanged at the €0.62 level over five trades totalling 8,819 shares. Yesterday, APS announced that its Board of Directors is scheduled to meet on Thursday 13 March 2025 to consider the approval of the financial statements for the financial year ended 31 December 2024. The Directors will also consider the declaration of a dividend, subject to regulatory approval.
Similarly, Bank of Valletta plc also closed unchanged at the €1.90 level over seventeen deals amounting to 26,709 shares.
BOV’s insurance associate Mapfre Middlesea plc held the €1.38 level on lacklustre volumes.
FIMBank plc closed unchanged at the USD0.15 level over five trades totalling 58,298 shares.
Lombard Bank Malta plc held the €0.755 level on muted activity.
Malta International Airport plc traded flat at the €6.10 level as 4,260 shares changed hands. MIA will publish its 2025 annual results on Monday 24 February.
A single trade of 100 shares left the share price of Simonds Farsons Cisk plc at the €6.55 level.
Malita Investments plc traded flat at the €0.50 level across three trades amounting to 20,000 shares.
Today, Hili Ventures Limited, the largest shareholder of Hili Properties plc holding 74.83% of the issued share capital of the Company, announced the launch of a Conditional Voluntary Public Takeover Offer (the “Offer”) for the acquisition of all the issued share capital of Hili Properties plc at a cash consideration of €0.24 per share. The offer period is from 26 February 2025 up to 25 March 2025.
The RF MGS Index rose by 0.34% to 912.085 points as the economy in the euro area showed signs of recovery. A flash estimate released today indicated that the private sector economy is anticipated to grow for the second consecutive month, following contractions in each of the last four months in 2024. Nonetheless, the growth expectations for February were overall revised lower as the decrease in the projected growth of the services sector outweighed the reduced forecasted decline 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.
www.rizzofarrugia.com