Movements in equity and bond indices
The MSE Equity Total Return Index gained 0.3%, closing at 8,422.393 points. A total of 18 equities were active, as eight headed north while six closed in the opposite direction. Total turnover tallied to €1.5m, as 305 deals were executed.
The MSE MGS Total Return Index recorded a negative 0.7% movement, reaching 939.84 points. Out of 28 active issues, 23 registered gains, while the rest closed unchanged. The 1.4% MGS 2046 headed the list of gainers, as it closed 9.2% higher at €68.57.
The MSE Corporate Bonds Total Returns Index advanced by 0.2%, as it closed at 1,186.529 points. A total of 64 issues were active, as 28 traded higher, while 19 closed in negative territory. The 6% International Hotel Investments plc 2033 traded 2.5% higher, closing at €106.90. On the other hand, the 3.5% Bank of Valletta plc € Notes 2030 S2 T1 gained 2.7% to close at €94.40.
Top 10 market movements
HSBC Bank Malta plc (HSBC) declined by 12.7% following a number of company announcement on Wednesday and
Thursday (read company announcements). The equity ended the week at €1.45 after trading at a weekly high of €1.67 on Monday and a low of €1.30 on Wednesday. The banking equity generated the highest weekly turnover, as 65 deals of 477,537 shares recorded a turnover of €697,419.
APS Bank plc had a standout week, witnessing a notable 16% surge in its price (read company announcement below). The equity’s price ranged between a weekly high of €0.64 and a low of €0.52, ultimately closing at €0.58. APS saw higher than usual trading volumes of 396,653 shares across 98 deals, generating a turnover of €235,152.
Bank of Valletta plc experienced a moderate 1.2% rise in its share price, ending the week at €1.69. From a year-to-date perspective, BOV shares are up by 19%. A total of 47 deals generated €171,085 in turnover.
Lombard Bank Malta plc posted a 9% gain, closing at a weekly high of €0.85. A total of 11 transactions saw 96,335 shares exchange ownership and generating €76,075 in turnover.
Mapfre Middlesea plc closed in the green, with a 4.8% increase in its share price, to end the week at €1.32. Trading activity included nine trades of 10,000 shares, valued at €13,125.
International Hotel Investments plc enjoyed a positive 6.1% movement in its share price, closing at a weekly high of €0.45. This was the outcome of seven deals of 90,000 shares worth €39,244.
Malta International Airport plc (MIA) saw a slight dip of 0.8%, closing the week at €5.90. MIA traded between a high of €5.95 and a low of €5.75. A total of 20 trades involving 16,497 shares exchanged ownership.
PG plc joined the list of gainers, recording a strong 7.8% increase to finish the week at €1.94. The equity saw 24,775 shares exchange hands across 10 transactions, totaling €45,718. The share price ranged between a weekly low of €1.80 and a high of €1.94.
Tigne Mall plc gained 5.3% to end the week at €1. Six deals worth €35,220 were executed.
BMIT Technologies plc experienced a 3.5% rise, closing at €0.354. A total of 38,906 shares exchanged hands across six trades, resulting in a total value of €13,496.
Company announcements
HSBC Bank Malta plc announced that HSBC Holdings plc informed the board of directors that the latter will undertake a strategic review of its indirect 70.03% shareholding in HSBC Bank Malta plc. Following the announcement, media reports commented that APS Bank plc is in talks with HSBC Holdings plc about the acquisition of the shares which the latter holds in HSBC Bank Malta plc. Following a request for clarification by HSBC Bank Malta plc from HSBC Holdings plc, HSBC Bank Malta plc announced that it was informed by its parent that the review process is at an early stage and no decisions have yet been made.
Following these announcements, APS Bank plc said that the bank’s actions and dealings are invariably guided by the highest standards of good governance and due regard of its various regulatory obligations, including respect for confidentiality. Furthermore, the bank announced that it will keep the market informed through gompany announcements whenever necessary and market briefings where appropriate.
Tigne Mall plc announced that one of its shareholders, Marsamxett Properties Ltd, a subsidiary of Hili Ventures Limited, informed the company of its intentions to launch a conditional voluntary public takeover bid for the acquisition of all the issued share capital of the Tigne Mall plc. Marsamxett Properties Ltd is offering €1.04 per share to all shareholders by submitting the acceptance form until October 7, 2024.
During the month of August, MIA registered a total of 983,182 passenger movements, confirming August 2024 as the airport’s busiest month on record. As demand for summer travel reached fever pitch, passenger volumes increased steadily throughout August to register a strong growth of 11.9% over the same month in 2023.
Growth in passenger numbers was experienced in parallel with an upturn of 14.3% in aircraft movements and an increase of 12.1% in seat capacity. Seat occupancy on flights also registered strong growth to stand at 91.2%, the highest seat load factor to be recorded in 2024 so far.
Trident Estates plc announced that it recorded a group revenue of €2.5m for the six months ended July 31, 2024. This resulted in an increase of 40.9% when compared to the previous period, mainly attributable to the rising occupancy levels at Trident Park. The group registered a net profit of €684,000 ‒ higher than the profit of €67,000 generated in the same period in 2023.