Copyright timesofmalta
The MSE Equity Price Index rose by 0.46% to 3,718.852 points as the gains in BMIT, FIMBank, Malita, and Malta Properties Company outweighed the declines in APS, BOV, HSBC, and IHI. Meanwhile, four other equities closed unchanged as today’s trading activity amounted to €0.52 million. BMIT Technologies plc advanced by 2.8% to the €0.298 level over three deals totalling 30,400 shares. Today, BMIT announced that following the fulfilment of the conditions precedent of the Share Purchase Agreement, it purchased 49,642,139 ordinary shares of Malta Properties Company plc, which represent 49% of the total issued share capital of MPC. Malta Properties Company plc rose by 3.0% to the €0.34 level over three deals amounting to 2,845 shares. Also in the property sector, Malita Investments plc gained 2.3% to the €0.446 level over three trades totalling 14,600 shares. FIMBank plc surged by nearly 70% to the USD0.25 level across twenty-four deals amounting to 418,043 shares. The weighted-average price of the day stood at USD0.187 (+26%). Today, FIMBank announced that it was informed that Jordan Kuwait Bank (JKB) intends to proceed with the acquisition process of a controlling stake in FIMBank. The contemplated transaction involves the acquisition by JKB of the 80.4% shareholding in FIMBank held by United Gulf Holding Company B.S.C. (UGH) as well as the 8.5% shareholding held by Burgan Bank K.P.S.C. (Burgan Bank). UGH, Burgan Bank, and JKB are all subsidiaries of the Kuwait Projects Company (Holding) KSCP (KIPCO). The completion of this transaction is subject to obtaining the required regulatory approvals from the competent authorities in Jordan and Malta including the Central Bank of Jordan and the Malta Financial Services Authority in addition to the European Central Bank. Bank of Valletta plc shed 1.1% to the €1.88 level over twenty-eight trades totalling 158,407 shares. Yesterday, BOV issued a Quarterly Financial Update providing information about its performance during the nine-month period ended 30 September 2025 when compared to the same period in 2024. Net interest income decreased by 1.4% to €286 million (3Q 2024: €291 million) driven by a 12.7% increase in interest expenses to €43.9 million from €38.9 million last year. Net fees and commission income climbed 9.5% higher to €61.9 million (3Q2024: €56.6 million). BOV also registered trading profits of around €9.9 million. Meanwhile, BOV’s financial performance was negatively impacted by a €5.2 million impairment charge. Net operating income amounted to €360 million. On the expenditure side, operating costs rose by 15.6% to €175 million. BOV also recognised net profits of €7.0 million from its share of results of associates. Overall, BOV recorded a pre-tax profit of €192 million, which is 14.2% lower than the €224 million generated in the same period last year. BOV’s net profit for the first nine months of 2025 amounted to €127 million, which translates into an annualised return on average equity of 11.6%. BOV reported growth in both its customer loans (+€784 million) and customer deposits (+€577 million). Total equity increased by 2.9% (or €41 million) to €1.45 billion, which translates into a net asset value per share of €2.256 (31 December 2024: €2.192). Also in the banking sector, HSBC Bank Malta plc fell by 0.7% to the €1.41 level over five trades amounting to 21,178 shares. Last Tuesday, HSBC issued an Interim Directors’ Statement updating the market on its performance during the nine-month period ended 30 September 2025. The Bank explained that revenue decreased by €24.6 million or 13% when compared to the comparable period last year, reflecting the impact of a lower interest rate environment. Nonetheless, the Directors explained that growth was achieved across all other revenue lines. The financial performance of HSBC Malta was also boosted by the improvement in the credit quality of its loan book, resulting in a release of Expected Credit Losses (ECL) of €4.6 million, which however was lower than the release of €10.8 million in the same period last year. Operating expenses increased by 6% compared to the same period last year. The profit before tax for the first nine months of 2025 amounted to €82.5 million, which is 30% lower than the €118.0 million in pre-tax profits reported in the same period last year. HSBC Malta noted that net loans and advances to customers decreased marginally when compared to 31 December 2024, while customer deposits remained at the same level. APS Bank plc slumped by 5.7% to the €0.462 level across three deals totalling 18,223 shares. International Hotel Investments plc declined by 1.9% to the €0.42 level over six trades totalling 24,414 shares. Meanwhile GO plc traded flat at the €2.56 level as 14,128 shares changed hands. Malta International Airport plc closed unchanged at the €5.85 level across three deals amounting to 6,084 shares. Trident Estates plc held the €1.06 level on a single deal of 5,000 shares. Main Street Complex plc closed unchanged at the €0.19 level on two trades amounting to 5,100 shares. The RF MGS Index dropped by 0.07% to 914.874 points. Yesterday, the US Federal Reserve lowered the federal funds rate by 25 basis points, but the Fed Chair Powell warned that there might not be another cut this year due to persistent inflation and a weakening labour market. Separately, US President Trump agreed to reduce tariffs on China in exchange for Beijing cracking down on the illicit fentanyl trade, resuming U.S. soybean purchases and keeping rare earths exports flowing. The positive trade development eases trade tensions and improves sentiment globally. In the eurozone, the economy expanded by 1.3% in Q3 2025, when compared to a year earlier. This growth was driven mainly by a sharp rise in French exports as well as in household consumption and fixed investment in Spain, while Germany’s economy stagnated due to declining exports. In line with expectations, today the ECB held its interest rates unchanged with the deposit facility rate at 2.0%. The central bank highlighted that inflation remained close to the 2% target, albeit it increased to 2.2% in September, compared with 2.0% in August. 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.
