MSE Trading Report for Week ending 27 March 2026

The MSE Equity Total Return Index ended the week in negative territory, closing 0.4% lower at 9,365.962 points. A total of 25 issues were active, nine of which headed north while another eight closed in the opposite direction. The weekly total turnover amounted to €1.3m, generated across 230 transactions.

The MSE Corporate Bonds Total Return Index registered a 0.3% gain, as it closed at 1,161.232 points. A total of 82 issues were active, 27 of which traded higher while another 23 lost ground. The 4.25% Mercury Projects Finance plc Secured € 2031 was the best performer, as it closed 4.7% higher at €99.95. On the other hand, the 4.65% Smartcare Finance plc Secured € 2032 ended the week 4% lower at €97.01.

The MSE MGS Total Return Index declined by 0.4%, as it reached 962.725 points. Out of 23 active issues, four advanced while another 16 closed in the red. The 5.25% MGS 2030 headed the list of gainers, as it closed at €109.27, equivalent to a positive 0.6% change. Conversely, the 1.8% MGS 2051 closed 7% lower at €59.18.

Bank of Valletta plc edged 1% lower to €2.08 after three stagnant weeks, following the publication of the Bank’s financial results last Thursday. The equity fluctuated between a price level of €2.12 early in the week, while trading at a low of €2.06 on Friday. A total of 53 deals, with a volume of 153,949 shares were traded, worth €321,596.

HSBC Bank Malta plc slipped by 2.7% to a price level of €1.44, ranging from €1.39 to €1.49 in the week. Trading activity included 67,951 shares over 11 transactions, totalling a value of €96,961.

Lombard Bank Malta plc recorded a 2.9% positive movement to the €0.72  price level, after trading at a low of €0.68 on Monday. Across 11 deals, a total of 30,297 shares were traded, with a value of €21,132.

International Hotel Investments plc (IHI) rebounded 5.3% throughout the week, after trading between €0.41 and closing at a high of €0.436. A total of 53,629 shares were exchanged across 10 deals, generating €22,262.

Malta International Airport plc rose to €6.15, translating to a 0.8% increase. Activity was modest as 47,484 shares swapped hands across 20 deals, generating €289,152 in value.

The share price of MIDI plc retracted by 3.6%. The equity closed at a weekly low of €0.27. A sole deal worth €3,510 was executed.

Trident Estates plc headed the list of gainers, as the equity advanced by 7.9% to €1.09, rebounding from a weekly low of €1.01. A total of four trades were recorded, with 5,336 shares exchanged for €5,391.

GO plc gained 2.3% in the final minutes of trading yesterday to close at €2.62, after announcing positive annual results. Trading was active as 68,911 shares exchanged across 26 deals, generating €176,765 in turnover.

RS2 plc finished the week in the green at €0.32. The equity climbed 3.2% with prices fluctuating between €0.29 to €0.32. A total of eight transactions were executed, involving 82,082 shares with a combined value of €24,835.

Harvest Technology plc ended the week flat at €1, with the price fluctuating between €0.98 and €1. Trading was modest, with 59,615 shares exchanged across three transactions, amounting to €59,575.

Bank of Valletta plc reported a profit before tax of €260.4m for FY2025, down 13.9% from the previous year, although operating income increased by 2.3%. The performance reflects continued growth in lending, diversification of income streams and cost control, despite lower interest rates and higher operating costs.

The Group’s balance sheet expanded during the year, with total assets exceeding €16.5b, driven by higher customer deposits and an increase in long-term funding following the Tier 2 debt issuance. The loan book and investment portfolio also recorded growth.

Capital and liquidity levels remained above regulatory requirements, with a CET1 ratio of 20.9% and a total capital ratio of 29.3%.

The Bank’s improved financial position was reflected in a credit rating upgrade by Fitch Ratings to ‘BBB’ with a stable outlook, following a similar upgrade by S&P Global Ratings in the previous year.

The Board will recommend the payment of a final net dividend of €0.0659 per share and a special net dividend of €0.0105.

MAPFRE Middlesea plc reported a strong performance in 2025, with profit before tax rising to €16.9m from €10.5m in 2024, while post-tax profit increased to €11.6m from €7.1m.

Gross premiums written grew by 9.6% to €113.6m, driven by growth across all lines of business, particularly Health, Property and Group Life.

The insurance service result rose by 32.9% to €16.4m, supported by higher insurance revenue and improved motor claims experience.

Net investment income nearly doubled to €4.8m, reflecting higher dividends, including contributions from MAPFRE MSV Life plc and BEE Insurance Management Limited. Shareholders’ equity stood at a solid €91.5m, with the company maintaining a strong solvency position under Solvency II at year-end 2025.

GO plc announced that, total revenue, for the financial year ending December 2025, rose by 3.9% to €254.4m, while net revenue grew more strongly by 6.9% to €248m, supported by core operations and contributions from subsidiaries.

EBITDA increased modestly by 1.5% to €92m, with growth tempered by ongoing investment in infrastructure and higher operating costs due to inflation. Despite this, profitability improved significantly, with net profit rising by 31.8% to €20.7m, reflecting both revenue growth and improved operational efficiency.

Based on the 2025 financial performance, the Board is recommending a final net dividend of €0.09, which will be paid on June 2, 2026.

IHI announced that Corinthia Palace has joined the Virtuoso global network and the American Express Hotel Collection. In addition, the Company also said the hotel is nearing completion of a refurbishment programme covering part of its room inventory.

The Board of Grand Harbour Marina plc is scheduled to meet on March 30 to consider and if deemed appropriate, approve the Company’s financial statements for the financial year ended December 31, 2025.

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 under the Investment Services Act by the MFSA and is a Member of the Malta Stock Exchange. 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 [email protected]