MSE Trading Report for week ended April 11, 2025

Movements in equity and bond indices

The MSE Equity Total Return Index failed to maintain the positive momentum, retracting by 0.9% to close at 8,825.555 points. A total of 23 equities were active, as four headed north and another 13 closed in the red. A total of 188 deals generated a turnover of €0.76m, lower by €0.24m week-on-week.

The MSE Corporate Bonds Total Return Index fell by 0.3%, as it settled at 1,180.945 points. Out of 58 active issues, 16 closed in the green, while another 26 closed in the opposite direction. The 5.3% Mercury Projects Finance plc Secured Bonds 2034 recorded the best performance, as it gained 2.4%, to close at €102.50. Conversely, the 5.8% APS Bank plc Unsecured Subordinated 2028-2033 S1 T1 lost 5.1%, ending the week at €102.50.

The MSE MGS Total Return Index recorded a gain of 0.1%, closing at 953.797 points. Out of 22 active issues, 15 appreciated while another seven declined. The 4.1% MGS 2034 was the best performer with a 1.7% increase in price, to close at €106.79. The 2.1% MGS 2039 closed 5.2% lower, at €80.62.

Top 10 market movements

Bank of Valletta plc saw its share price decline by 3.7%, closing the week at €2.08 and recovering from an intra-week low of €2.04. A total of 225,642 shares exchanged ownership across 70 transactions generating the highest weekly turnover of €472,952.

Similarly, HSBC Bank Malta plc recorded a negative 0.7% movement in its share price, closing at €1.49. The equity was active between a weekly high of €1.52 and a low of €1.48. Trading included 12 transactions worth €54,281.

Mapfre Middlesea plc headed the list of losers, recording a decline of 8.8% in its share price to end the week at €1.45. Despite the week-on-week fall, the equity remained 3.6% higher from a year-to-date perspective. This was the outcome of two transactions consisting of 4,665 shares.

The share price of APS Bank plc fell by 3.3%, ending the week at €0.58, as three transactions of 36,065 shares were executed.

Lombard Bank Malta plc experienced a notable 5.2% decline in its share price, closing at €0.73. A total of 23,880 shares exchanged hands five times, generating a turnover of €17,906.

Malta International Airport plc joined the list of losers, retracting by 0.8% to close the week at €6.05. A total of 5,979 shares spread across 18 transactions, generated a turnover of €35,818.

Five deals of 15,973 RS2 plc ordinary shares pushed the share price into positive territory, posting a 3.2% gain to end the week at €0.39. The equity generated a total turnover of €6,173.

GO plc recorded a 3.7% decline in its share price, closing at a weekly low of €2.60. A total of 11 transactions involving 10,687 shares were executed during the week, generating a total turnover of €27,964.

Simonds Farsons Cisk plc was among the few gainers of the week, recording a 2.5% increase to €6.25. The equity traded between a weekly low of €6.05 and a high of €6.25 over nine trades. The total weekly volume was 3,950 shares, with a value of €24,056.

MaltaPost plc was the standout performer of the week, gaining 6.5% to finish at a weekly high of €0.458. This was the result of 10 transactions of 52,586 shares worth €21,609.

MaltaPost plc was the standout performer of the week, gaining 6.5%

Company announcements

FIMBank plc reported a pre-tax profit at group level of $8.3m for 2024, up from $5.8m in 2023. After accounting for taxes, net profit amounted to $149,989, slightly above last year’s break-even result of $7,674. The improvement was driven by cost reductions and diversified revenue efforts. While net interest income dipped due to higher interest expenses, margins remained strong, and fee and commission income improved. To strengthen its capital base, the bank received a $20m subordinated loan from its major shareholder in early 2025, qualifying as Tier 2 capital under the Capital Requirements Regulation. This injection will further reinforce the group’s balance sheet and support its asset growth ambitions. The company’s AGM will be held on May 13, 2025.

M&Z plc recorded stable revenues of €29.9m in 2024, in line with the €29.8m the previous year. While no new acquisitions or categories were added, the company focused on driving organic growth within its portfolio. Profit after tax rose by 15% to €2m, with earnings per share increasing to €0.05 from €0.04. Higher supplier prices and wage costs led to a slight rise in cost of sales of 1%, while net finance costs fell by 20%, as a result of the company’s efforts to generate strong operational cash flows and reduce dependency on bank borrowings. The board resolved to recommend a final net dividend of €712,800, equivalent to €0.0162 net per share. The company shall be proposing a new share buy-back programme for the consideration of the shareholders at its forthcoming AGM.

The board of MIDI plc announced that its forthcoming AGM will be held on June 12, 2025.

The board of Grand Harbour Marina plc announced that it is scheduled to meet on April 15, 2025, to consider and if deemed appropriate, approve the company’s financial statements for the financial year ended December 31, 2024.

The board of VBL plc is scheduled to meet on April 24, 2025, to consider and approve the company’s audited financial statements for the financial year ended December 31, 2024.

In terms of new issues, JD Capital plc announced that the MFSA approved the prospectus relating to the bond issue of up €40m. The bond will carry a coupon of 5.6% and matures in 2035.

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.