Movements in equity and bond indices
This week the MSE Equity Total Return Index jumped by 2.5%, closing at 8,713.244 points. A total of 24 equities were active, eight of which headed north, while another six closed in the opposite direction. Total turnover tallied to €1.2m, doubling when compared to the previous week. A total of 250 deals were executed.
The MSE MGS Total Return Index recorded a negative 0.2% movement, reaching 948.987 points. Out of 23 active issues, five registered gains, while 17 lost ground. The 0.5% MGS 2025 headed the list of gainers, as it closed 5.5% higher at €98.61. On the other hand, the 2.5% MGS 2036 lost 1.1%, ending the week at €90.93.
The MSE Corporate Bonds Total Returns Index registered a decline of 0.1%, as it closed at 1,184.208 points. A total of 63 issues were active, of which 27 traded higher, while 20 closed in negative territory.
The 4.5% BNF Bank plc Unsecured Subordinated Bonds 2027-2032 traded 3.6% higher, closing at €99.99. On the other hand, the 3.5% Simonds Farsons Cisk plc Unsecured 2027 gained 3.1% to close at €98.75.
Top 10 market movements
Bank of Valletta plc (BOV) closed the week at its highest level in seven years at €1.90. This gain translates to a 5.6% increase. BOV was the most liquid equity of the week, recording a total turnover of €402,217, exchanged across 74 deals. The equity has advanced by 10.5% since January.
Similarly, HSBC Bank Malta plc (HSBC) headed north following strong financial results, posing a 6.2% gain. The equity finished the week at €1.54 despite trading at a weekly high of €1.58 on Wednesday. A total of 46 transactions involving 241,653 shares were executed, generating €366,511. From a year-to-date perspective, the equity increased by 7.7%.
In the same sector, APS Bank plc (APS) ended the week in positive territory. The banking equity closed at a weekly high of €0.62, growing by 5.1%. This was the result of 14 deals worth €9,003.
Telecommunications company GO plc experienced a 3.9% increase in its share price, closing at a weekly high of €2.70. A total of 25,799 shares exchanged ownership across 18 trades. Total weekly turnover amounted to €68,895.
Malta International Airport plc shares retracted by 0.8%, closing at €6.10. This decline was a result of 15 transactions spread over 7,844 shares and a total trading value of €48,157.
On Monday, VBL plc fell to an all-time low of €0.12. The equity recovered the loss, ending the week with a 19.3% gain at €0.179. This was the outcome 15,000 shares worth €1,948.
RS2 Software plc joined the list of gainers with an increase of 6.2%, to close at €0.478. The equity failed to sustain an intra-week high of €0.48. This was the result of three transactions involving a total of 7,669 shares.
On the contrary, BMIT Technologies plc closed the week in negative territory at a weekly low of €0.32, declining by 8.6%. A total turnover of €31,341 was generated across 13 deals, involving 96,900 shares.
In the consumer staples industry, PG plc was active but closed unchanged at €1.86. A total of 93,585 shares exchanged hands over eight transactions, with a total turnover of €174,092.
International Hotel Investments plc (IHI) joined the list of losers, recording a 0.4% decline.
A total of 38,679 shares were spread across nine deals, pushing the share price to the €0.448 level.
Company announcements
HSBC reported a profit after tax of €100.1m for the year ended December 31, 2024, an increase of €13.4m or 15.3% over 2023. Profit growth was driven by increased revenue across all segments, supported by a higher interest rate environment, greater customer activity and improved results from the insurance subsidiary.
Additionally, better credit quality in the loan portfolio led to a significant release of expected credit losses. Customer deposits increased by €16.8m to €6,158m, while net loans and advances to customers decreased by €210.7m to €2,873m. The board recommended a final net dividend of €0.078c per share, which brings the total dividend for 2024 to €0.143c net of tax.
The board of APS is scheduled to meet on March 13, to consider and approve the group’s and the bank’s audited financial statements for the financial year ended December 31, 2024. The board will also consider the declaration of a dividend.
MAPFRE Middlesea plc has announced that its annual general meeting will be held on April 30, 2025.
IHI has announced that its subsidiaries, Corinthia Hotels Ltd (CHL) and QP Ltd (QP), have signed contracts for a major 102-storey mixed-use development on Sheikh Zayed Road, Dubai. QP will oversee project and cost management, as well as conduct a peer review of the structural, engineering, and interior design aspects. Meanwhile, CHL will manage and operate a luxury hotel with approximately 120 rooms and provide branding and servicing for high-end residences within the development. The project is currently at an advanced design stage.
The board announced that IHI has been granted approval by the MFSA for the admissibility to listing on the MSE of €35m 5.3% unsecured bonds maturing 2035.
Hili Properties plc was notified by one of its shareholders, Hili Ventures Limited, of its intention to launch a conditional voluntary public takeover bid for the acquisition of all the issued share capital of the company. Hili Ventures is offering €0.24 per share to all eligible shareholders. The offer period closes on March 25. As a result, last Wednesday, the company’s shares have been suspended from trading.
AX Real Estate plc announced that the board is scheduled to meet on February 24, to consider and approve the financial statements for the financial year ending October 31, 2024.
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.