Movements in equity and bond indices
The MSE Equity Total Return Index continued with its positive trend, increasing by 0.2%, to close at 9,485.587 points. Out of 25 equities, eight headed north while another 11 closed in the opposite direction. Total weekly turnover amounted to €1.5m and was generated across 272 transactions.
The MSE Corporate Bonds Total Return Index increased by 0.4%, as it closed the week at 1,161.017 points. Out of 83 active issues, 30 advanced, while another 24 traded lower. The best performance was recorded by the 4.65% Smartcare Finance plc Secured € 2032 which closed 3.1% higher at €100. Conversely, the 5.7% Merkanti Holding plc Secured € 2033 declined by 2.5%, to €98.
The MSE MGS Total Return Index closed the week 0.3% lower at 957.48 points. A total of 28 issues were active, as 15 registered gains, while another 11 closed in the red. The 2.4% MGS 2041 was the best performer, with a 1.9% change in price, closing at €80.57. On the other hand, the 3% MGS 2040 lost 4.3%, ending the week at €88.53.
Top 10 market movements
In the banking sector, APS Bank plc moved 4% higher, ending the week at a price level of €0.52. Trading activity was spread across 24 deals, with 118,430 shares exchanging hands and producing €60,260 in value.
Bank of Valletta plc closed the week unchanged at €2.10. The equity was the week’s most liquid with 165,038 shares exchanged across 62 deals, generating a strong turnover of €343,224.
Meanwhile, HSBC Bank Malta plc rebounded by 0.7% to €1.44. Activity remained moderate, with 29,399 shares traded across 14 transactions within a relatively tight €1.42 to €1.44 range.
A strong performance was also registered by Lombard Bank Malta plc, which advanced 7.6%, to close at €0.775. The share price climbed steadily from a low of €0.720, supported by 34,693 shares traded over eight deals, amounting to €25,793.
Harvest Technology plc emerged as the week’s standout performer, rallying 17.9% to €1.12. The equity experienced a wide trading range between €0.85 and €1.12, with 41,950 shares exchanged across nine deals, generating €37,849 in turnover.
GO plc drifted 2.3% lower to €2.56, despite being one of the most actively traded equities during the week. A total of 94,367 shares were exchanged across 21 deals, generating a notable €243,599 in turnover, with prices ranging between €2.50 and €2.64.
Malta International Airport plc slipped marginally by 0.8% to €6.20. The equity generated a total turnover €303,657.
On the negative end of the spectrum, Mapfre Middlesea plc was the worst performer as it closed at €1.42 ‒ a decrease of 10.1%. Trading was relatively low, with just 3,838 shares exchanged across six deals, totalling just €5,606.
BMIT Technologies plc also declined by 6.5% to close at €0.26. Trading included 109,181 shares exchanged across 11 deals, generating €29,934 in value.
Similarly, International Hotel Investments plc eased 3.9% to €0.50. The equity traded within a low of €0.482 and a high of €0.50, with 23,500 shares changing hands across five deals.
Company announcements
The Treasury of Malta plans to raise up to €300m through two new Malta Government Stock issues, a 3.80% bond maturing in 2036 and a 4.10% bond maturing in 2041, with the option to increase this by a further €200m if oversubscribed. Applications for retail investors open on April 20.
SD Finance plc has announced a second tranche under its €60m unsecured bond issuance programme, offering up to €20m in 5.20% unsecured bonds redeemable in 2031 and issued at par. The second tranche bonds are fully fungible with the €33m tranche bonds issued in October 2025, forming part of the same series.
International Hotel Investments plc has entered into a share purchase agreement to acquire a 25% stake in Mediterranean Investments Holding plc (MIH), a Malta-registered real estate vehicle operating in Libya, from Kuwaiti National Investment Holding Ltd for €37m, funded through debt financing from APS Bank plc.
Simultaneously, IHI’s majority shareholder CPHCL will acquire the remaining 25% stake from the same seller for a further €37m, bringing CPHCL’s total holding in MIH to 75%.
IHI has also agreed to acquire one ordinary share each in MIH subsidiaries Palm City Ltd and Palm Waterfront Ltd.
Hili Properties plc held an EGM on April 15, at which shareholders voted by a 97.1% majority to approve the discontinuation of the listing of the company’s shares from the Official List of the Malta Stock Exchange. Following the meeting, a formal application for delisting was submitted to the MFSA on the same day. Further updates on the timeline for the discontinuation will be communicated to the market in due course.
Harvest Technology plc generated revenue of €18.2m, compared to €19.8m in 2024, representing a decrease of 8%. Profit after tax rose 34% to €1.14m from €0.85m in 2024. The board has declared a final net dividend of €1.25m for the year of 2025.
Computime Holdings plc also published their financials for the year ended 2025. Revenue grew 13% year-on-year from €18.9m to €21.3m, with all three divisions contributing, as systems integration dominated at €14.2m. Profit after tax rose approximately 20%, from €2.2m to €2.6m, as revenue growth outpaced cost increases and the operating margin expanded from 13.7% to 14.7%. A growing deferred tax income credit related to an intra-group IP transfer also provided a further tailwind at the net level. On dividends, the final net dividend paid in respect of FY2024 was €0.48m, while the total proposed net dividend for FY2025 is significantly higher at €1.8m.
LifeStar Insurance plc reported total revenue of €8.7m for the year ending December 2025, up 46.6% from €5.9m in 2024, driven by a 47% increase in insurance revenue and strong premium growth across protection, pension, and with-profit product lines. Despite this momentum, the insurance group registered a loss before tax of €821k, widening from a restated loss of €0.4m in 2024, as a 54% rise in insurance service expenses and sustained pressure from higher operating and input costs weighed on the bottom line. Total assets grew by €7.6m to €169m, though total equity edged down by €0.1m. The loss for the year after taxation was €0.5m.
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 [email protected].
