The MSE Equity Price Index fell by 0.39% to 3,766.575 points as the declines in APS, BOV, and HSBC outweighed the gains in IHI. Meanwhile, three equities closed unchanged as today’s daily trading activity amounted to €0.15 million.
Bank of Valletta plc shed 1.5% to the €1.91 level over seven deals amounting to 25,727 shares. Today, BOV announced the allocation policy with respect to the recent offer of up to €125 million 5.00% unsecured subordinated bonds 2030-35. There were 33 applications lodged by Professional Clients and Eligible Counterparties, for these applications, the first €5,000,000 per application was allocated in full, and 79.4% was applied on the remaining amounts, rounded to the nearest €100, for a total allocation of €35 million. Furthermore, 2,302 applications were received from Existing Shareholders, the first €150,000 per application was allocated in full, whilst 62.6% of the remaining amounts was allotted rounded to the nearest €100, for a total allocation of €65 million. Meanwhile, 977 applications were lodged by the general public for a total value of €25.5 million. The first €150,000 per application was allocated in full, whilst 80.5% of the remaining amount was allotted rounded to the nearest €100, for a total allocation of €25 million.
Also in the banking sector, HSBC Bank Malta plc decreased by 0.7% to €1.40 level across five trades totalling 64,237 shares.
APS Bank plc fell by 0.4% to the €0.492 level on two trades amounting to 2,000 shares.
On the other hand, International Hotel Investments plc rose by 2.3% to the €0.44 level.
Meanwhile, Malta International Airport plc traded flat at the €5.80 level as 1,000 shares changed hands.
PG plc held the €1.72 level on low volumes.
Malita Investments plc closed unchanged at the €0.416 level on one trade of 2,670 shares. Today, Malita Investments plc announced that following a strategic review of its position on the Affordable Housing Project, it has exercised its contractual right to suspend works on the Qrendi, Cospicua and Ħal-Farruġ sites, being the only remaining open sites. The Company has explored various options with relevant stakeholders to determine the most appropriate path forward for completing the Affordable Housing Project. However, none of these options have materialized. As such, the Board has now determined that the most appropriate course of action to complete the project at the above-mentioned sites is to secure the necessary funding from its banks. In this respect, Malita is currently in active discussions with its banks to secure the required funding to enable works to resume and complete the housing projects at the three remaining sites.
The RF MGS Index fell 0.1% to a fresh nine-month low of 901.637 points, reflecting the rise in sovereign bond yields across the euro area, with the German 10-year bund yield reaching a three-month high of 2.77%. Euro area economic growth for the third quarter was revised upward to 0.3% from the prior estimate of 0.2%, following a 0.1% increase in Q2. The revision was supported by a rebound in fixed investment, which rose 0.9% after a 1.7% decline in Q2, as well as stronger government spending. In the United States, annual PCE inflation rose to 2.8% in September, up from 2.7% the previous month, in line with expectations.
This report contains only public information and is not to be construed as investment advice or an offer to buy or sell securities. Information contained herein is based on data obtained from sources considered to be reliable, but no representations or guarantees are made with regard to the accuracy of the data. Stock markets are volatile and subject to fluctuations which cannot be reasonably foreseen. Past performance is not necessarily indicative of future results. Rizzo, Farrugia & Co. (Stockbrokers) Limited is a company licensed to undertake investment services in Malta by the MFSA under the Investment Services Act, Cap. 370 of the Laws of Malta and a member of the Malta Stock Exchange.
