Equity Index extends upward momentum for fourth consecutive month

Movements in Equity & Bond Indices

The MSE Equity Total Return Index ended the month in positive territory for the fourth consecutive month, gaining 0.6% to finish at 9,500.693 points. A total of 34 equities were active during May, with 13 posting gains while 16 closed in the opposite direction. Total turnover amounted to €5.9m as a result of 885 transactions.

The MSE Corporate Bonds Total Return Index also headed north with an increase of 0.2%, to finish the month at 1,157.474 points. Out of 111 active issues, 64 advanced while another 33 issues fell. The 4.4% Central Business Centres plc Unsecured € 2027 registered the best performance with a 6% increase to close at €97.50. On the other hand, the 5.2% HH Finance plc € Secured Bonds 2035 recorded a negative 2.7% movement to close at €97.19.

The MSE MGS Total Return Index posted a positive 1.5% movement, to end the month at 966.518 points. A total of 54 issues were active, as 31 closed in the green while another 16 lost ground. The 3.5% MGS 2034 advanced by 2.9% to close at €99. Conversely, the 1% MGS 2031 retracted by 2.2% to close at €89.70.

Top 10 Market Movers

Bank of Valletta plc was the most liquid equity on the MSE in May, with 953,019 shares traded across 151 transactions, generating €1.9m in monthly turnover. Despite the heavy activity, the banking equity shed 5.7% over the month, closing at €1.98, having reached a monthly high of €2.10.

HSBC Bank Malta plc slipped by 2.1%, closing at a monthly low of €1.41. Trading activity included 173,188 shares swapping hands across 46 transactions, worth €248,017.

APS Bank plc witnessed 173 transactions covering 522,998 shares and generating €288,260 in monthly turnover. The equity maintained its upward momentum, as it advanced 5.7% over the period to close at €0.56. The banking equity ranged between a monthly low of €0.505 and a high of €0.57.

FIMBank plc climbed 18.5% during the month, to close at $0.16, its monthly high. The equity attracted seven deals covering 215,390 shares, with $28,631 generated in monthly trading value.

RS2 plc closed May under pressure, falling to a price level of €0.25, translating to a 12.6% decrease in value. The equity had traded at a high of €0.30 during the period before retreating steadily, with 124,126 shares changing hands across 20 deals and generating €31,853 in monthly turnover.

Simonds Farsons Cisk plc was among the month’s stronger performers, rebounding 15.9%. Trading activity saw 9,236 shares change hands across 20 transactions, generating €56,743 in monthly value, with the equity ranging between a low of €5.75, before closing at a high of €6.20.

Malta International Airport plc closed the month at €6.20, edging up 0.8% over the period. The equity traded 72 times across 167,303 shares, totalling €1m in turnover. The equity oscillated between a low €6 and a high of €6.20.

LifeStar Insurance plc was the month’s best performing equity, surging 146.2% to close at its monthly high of €0.65. A total of 18,249 shares exchanged across six deals, generating €10,917 in turnover.

Mapfre Middlesea plc retreated 13.4% to close at a price level of €1.36. The equity peaked at €1.57 before drifting lower, finding support above €1.30. A total of 20,184 shares were exchanged across 23 deals, totalling €27,355 in monthly trading turnover.

VBL plc was the sharpest decliner, shedding 15.2% to close at €0.195. A sole transaction accounted for the entire month’s activity, as 14,500 shares were exchanged and €2,828 in turnover was recorded.

Company Announcements

HSBC Bank Malta plc reported a profit before tax of €21.3m for the three-month period ended March 31, which represents a 24% decrease compared to the same quarter of 2025. This decline was primarily attributed to lower revenue, which fell by €8.1m, because of narrowing interest rate margins and the impact of the bank’s tactical decision to reduce its commercial real estate exposure. Consequently, the Board has recommended a gross interim dividend of €0.036 cents per share, reflecting a 60% payout ratio.

Simonds Farsons Cisk plc reported revenue of €106.5m for the year ended January 31, 2026, a 4.6% increase from the previous period. The Group recorded profit after taxation of €17.2m for FY2026. The outperformance was driven by a lower overall taxation charge, reflecting the recognition of accumulated investment tax credits as a deferred tax asset, an assessment that differed from the original forecast. The year was also marked by the completion of the food business spin-off on October 6, 2025, Quinco plc, which generated a one-off fair value gain of €21.9m recognised in the income statement.

The Board of Trident Estates plc approved the annual report and financial statements of the Company for the financial year ended January 31, 2026. Group revenue increased from €5.5m in the previous financial year to €6.1m, representing growth of 10%, primarily driven by the increasing occupancy at Trident Park. Operating profit increased from €3.7m to €4.1m whilst profit after tax increased from €3.3m to €7.4m, representing a 124% increase year-on-year. The Board of Directors has resolved to recommend for the approval of the AGM the distribution out of profits of a final net dividend of €0.75m amounting to €0.017857 per ordinary share. This dividend will be paid on June 26.

Malita Investments plc reported a record revenue of €10.6m for the financial year ended December 31, 2025, an increase from the €9.6m recorded in 2024. Despite this growth in top-line income, the Company shifted to a profit after tax of €1.9m, down from €6.4m profit in 2024, significantly impacted by a €13.4m variance in revenue from service concession arrangements and rising administrative and maintenance provisions. The Board has recommended that no dividend will be declared for 2025.

In addition, Malita Investments plc has announced that, following financial support secured from local and international lenders, a comprehensive preparatory programme has been completed and works on its Cospicua and Qrendi Housing Projects are set to resume imminently. The resumption is expected to drive steady progress toward project completion and underpin the long-term stability and viability of the Company’s operations.

The Board of MaltaPost plc approved the unaudited condensed consolidated interim financial statements for the six-month period ended March 31, 2026. During the period, the Group reported improved financial results, with profit before tax rising to €3.6m from €3.2m in the same period last year. Revenue increased to €24m, supported mainly by solid performance in parcel and logistics activities, whilst expenditure also rose to €20.5m from €18.6m.

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 Equity 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, 16 Central Business Hub, Level 3, Mdina Road, Attard ATD 9036, or on Tel: 21224410, or email info@jesmondmizzi.com