Local equities decline

Movements in Equity & Bond Indices

The MSE Equity Total Return Index ended in negative territory, as it closed 4.4% lower at 8,103.416 points. A total of 30 equities were active, as six headed north, while another 21 closed in the opposite direction. Turnover declined by €1.5m, for a total turnover of €2.9m.

The MSE Corporate Bonds Total Return Index advanced by 0.7% to 1,170.16 points, as 86 issues were active. During the month, 43 bonds registered gains while another 22 lost ground. The 4% SP Finance plc Secured € 2029

headed the list of gainers, as it closed 8.7% higher at €100. On the other hand, the 4% Exalco Finance plc Secured € 2028

closed 4.5% lower at €95.

The

MSE MGS Total Return Index

retracted by 1.2%, to close at 909.049 points. A total of 26 issues were active, seven of which traded higher, while another 18 declined. The best performance was recorded by the 2.2% MGS 2035 (I) with a 7.2% change in price, to close at €89.50. Conversely, the 2.1% MGS 2039 (I) lost 3.8%, to end the month at €81.

Top 10 Market Movers

International Hotel Investments plc faced a significant decline, ending the month at €0.452, because of a negative 21.4% movement in price. This was the outcome of 10 transactions worth €15,879.

Bank of Valletta recorded the highest turnover across the board. A total of 471,191 shares spread across 133 deals generated €624,017 in turnover. The share price of the banking equity retracted by 7.8%, finishing the month at the €1.31 price level.

HSBC Bank Malta plc remained relatively stable, fluctuating between a high of €1.30 and a low of €1.25. The equity recorded a gain of 0.8% to close at €1.29. A total of 103,498 shares exchanged hands across 37 deals, valued at €132,333.

APS Bank plc joined the list of losers after recording a 6% decline in its share price. The

plc

equity reached a monthly high of €0.58 and a low of €0.54, closing at €0.545. APS was active across 56 trades of 428,768 shares worth €235,835.

GO plc saw a dynamic month of trading, hitting a high of €3.26 and a low of €3.04, with a closing price of €3.20. This marks a positive monthly price change of 4.6%. Trading activity saw 154,788 shares executed across 73 trades, generating €489,565 in turnover.

PG plc shares declined by 4.6% to close at €2.10. Ten trades worth €49,380 were executed.

Simonds Farsons Cisk plc faced a decline of 8.4%. The equity closed the month at €6.55, as a result of 24 trades involving 8,602 shares.

MedservRegis plc experienced a double-digit increase of 19.4%. The equity ended the first month at a high of €0.74 despite reaching a monthly low of €0.55.

Loqus Holdings plc witnessed a notable increase, hitting and closing at a high of €0.200. This translated to a monthly price gain of 17.7%. Trading was limited, with only three trades of 3,212 shares executed.

The share price of AX Real Estate plc experienced a 1% growth in its share price, ending January at a high of €0.52. Ten trades involving 45,700 shares generated €23,684 in turnover.

Company Announcements

Malta International Airport plc (MIA) announced the 2023 full-year traffic results, where passenger traffic increased by 6.7% over 2019, amounting to a record 7.8m passengers. This represents a growth of almost 0.5m passenger movements, which is comparable to the throughput of an average winter month for the airport. In parallel, the airport also outperformed prepandemic levels in terms of seat load factor, as each month of the year registered varying degrees of growth over 2019, peaking in August at an all-time high of 91.4%.

The board of GO plc has approved the payment of a net interim dividend of €0.15 per share. The payment of this net dividend amounts to the total sum of €15.2m and represents part of the proceeds received from the transaction with BMIT. The interim dividend was paid on February 1, 2024 to all shareholders who appeared on the shareholders’ register of January 18, 2024.

The board of AX Real Estates plc resolved to distribute a gross interim dividend of approximately €4m, equivalent to €0.0148 gross per ordinary share.

FIMBank plc announced that as part of a streamlining initiative and corporate restructuring exercise, the bank’s board has recently resolved to approve a merger by acquisition between the bank, as the acquiring company, and FIM Business Solutions as the company being acquired. The bank has obtained regulatory approval from the MFSA in relation to the proposed merger. Upon the merger taking effect, the Bank shall succeed to all the assets, rights, liabilities, and obligations of FIM Business Solutions, which in turn, shall cease to exist.

MedservRegis plc announced that the board has resolved to distribute an interim dividend of €1m. The dividend shall be payable on all shares settled as at close of business on February 8, 2024 and shall be paid by no later than February 29, 2024.

In addition, the Company added that during 2023, the energy sector began to experience the benefits of the resurgence in energy oil prices, driving increased exploration and production activities by the International Energy Companies. Digitalization and sustainability efforts gained prominence, with a focus on ESG initiatives and carbon reduction.

In this context, the group’s unaudited revenues for 2023 are anticipated to be in the region of €73m, an increase of 9% compared to the €66.9m achieved in 2022 and an increase of 13.2% against the revenue forecast disclosed in the 2022 updated financial analysis summary. Unaudited cash and bank deposits at the end of 2023 were in the region of €16m, leaving the group well-funded for this year.

The board of Malita Investments plc announced that it has submitted an application for authorisation for admissibility to listing to the MFSA requesting approval of a prospectus in relation to the issue of rights to eligible shareholders to subscribe to up to 65,825,806 new ordinary shares of a nominal value of €0.50 per share in the Company.

This article, which was 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 a member of 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, or on Tel: 21224410, or email info@jesmondmizzi.com