Money market report for the week ended May 23, 2025

Movements in equity and bond indices

The MSE Equity Total Return Index returned to negative territory, closing at 8,689.896 points, equivalent to a 0.9% decline. A total of 22 equities were active, of which 11 retracted while eight advanced. During the week, activity increased by €0.1m, as total turnover amounted to €1.1m, generated across 207 transactions.

The MSE Corporate Bonds Total Return Index fell by 0.6%, as it reached 1,179.864 points. Out of 69 active issues, 19 headed north, while another 36 closed in the opposite direction. The 3.5% AX Real Estate plc 2032 issue recorded the best performance, up by 3.8% to close at €94.49. Conversely, the 3.75% Mercury Projects Finance plc 2027 lost 3.4%, ending the week at €97.11.

The MSE MGS Total Return Index declined further, closing 0.2% lower at 961.672 points. Out of 29 active issues, 14 headed north while another 13 closed in the opposite direction.

The 1.5% MGS 2027 headed the list of gainers, as it closed 1.2% higher at €99.20. On the other hand, the 4% MGS 2043 closed 2.4% lower at €102.50.

Top 10 market movements

Bank of Valletta plc (BOV) continued its positive momentum, rising by 1.5% following the bank’s announcement of a new bond issue. BOV ended the week at a weekly high of €1.99, despite trading at a weekly low of €1.95. The bank remained among the most actively traded equities with 62 trades of 129,890 shares generating €0.3m in turnover.

Meanwhile, HSBC Bank Malta plc saw a modest decline of 1.4%, closing the week at €1.41. The banking equity traded between a range of €1.40 and €1.44, as 17 transactions of 27,084 shares were recorded. Trading turnover totalled €38,573.

FIMBank plc plummeted by 16.7%, closing at $0.12, on thin trading.

Malta International Airport plc edged higher by 0.8% to close at a weekly high of €6. This was the result of 26 trades involving 17,949 shares worth €106,615. From a year-to-date perspective, the equity is up by 3.5%.

International Hotel Investments plc registered a sharp weekly decline of 10.2%, closing at €0.404. Three deals worth €2,090 were recorded.

GO plc slipped 3% to close at €2.60. The equity fell as a result of four transactions worth €5,226.

RS2 plc joined the list of negative performers, ending the week 10.3% lower at €0.42. The equity saw 22,310 shares exchange hands across five deals, generating a total turnover of €9,370.

BMIT Technologies plc recorded the largest percentage drop among the IT equities, falling 10.6% to €0.286. The equity traded between €0.286 and €0.322 across 10 transactions, with a volume of 72,802 shares and a value of €21,956.

MedservRegis plc was the best performing equity with a 12.5% increase, closing at €0.45. A total of 5,000 shares were traded across two transactions, amounting to €2,243.

Hili Properties plc held steady at €0.24, with no change over the week. The company saw significant activity, as 18 trades worth €398,808 were executed.

Company announcements

BOV announced the second issuance under its existing €250m Unsecured Euro Medium Term Bond Programme. As part of the programme, the bank aims to raise €100m, with an over-allotment option of up to €150m, through an unsecured and subordinated bond issue. The bond will carry a coupon of 5% and matures between 2030 and 2035. 

The board of Grand Harbour Marina plc resolved to distribute a gross dividend of €795,500 equivalent to €0.039775 gross per ordinary share.

This article, compiled by Jesmond Mizzi Financial Advisors Limited, does not intend to give investment advice and the contents therein should not be construed as such.

The company is licensed to conduct investment services by the MFSA and is a member of the Malta Stock Exchange and the Atlas Group. The directors or related parties, including the company, and their clients are likely to have an interest in securities mentioned in this article.

For further information contact Jesmond Mizzi Financial Advisors Limited at 67, Level 3, South Street, Valletta, tel: 2122 4410, or e-mail info@jesmondmizzi.com.