Movements in Equity & Bond Indices
The MSE Equity Total Return Index (MSE) ended the first month of the year 0.4% lower, following two consecutive months of gains. While the three largest companies by market capitalisation closed the month in positive territory, losses across the consumer staples, communication services and property sectors weighed on the index. As a result, the MSE closed the month at 8,870.413 points. Turnover amounted to €3.1m, down from €5.2m in the corresponding period last year.
The MSE Corporate Bonds Total Return Index declined by 0.2% to 1,148.582 points. A total of 108 bond issues were active, as 51 declined and 48 closed higher. The 6.25% Camilleri Finance plc € Unsecured 2034 and the 5.35% Hal Mann Vella Group plc Secured € 2031-2034 gained 8.4% while the 3.5% AX Real Estate plc Unsecured € 2032 lost nearly 10%. Trading turnover reached €8.2m.
On the sovereign debt front, the MSE Equity Total Return Index advanced by 0.6%, supported by increased demand for safer assets amid heightened global geopolitical tensions. Turnover reached €8.5m across 278 transactions, with the index closing just below the 970-point level.
Top 10 Market Movers
In the banking sector, Bank of Valletta plc gained 1.6% to close the month at €1.92 after trading at a monthly high of €1.93. The banking equity dominated activity, as turnover reached €1.4m across 189 deals of 0.7m shares. None of these shares were acquired by the bank as part of its share buyback program.
Meanwhile, HSBC Bank Malta plc shares recorded a 0.7% gain, as the equity closed at €1.43. The equity was once again active within tight ranges, as the price fluctuated between a monthly low of €1.40 and a high of €1.44. During the month turnover declined to €0.2m, down from €0.3m in December.
APS Bank plc shares lost 2% to return to the €0.48 price level, after trading at a monthly low €0.46. Turnover declined to €0.1m, as 48 transactions of 229,949 shares were recorded.
Malta International Airport plc shares posted a 1.7% or €0.10 gain, as the equity closed the month at €5.85. The equity was the second most traded, as a total of 65 transactions worth nearly €345,000 were executed. Some of these transactions were acquired by the Company through its share buyback program.
The negative performance of GO plc shares weighed on the performance of the MSE, as the share price of the telecoms operator lost 4% to end the month at €2.46, down from €2.56 the previous month. A total of 34 deals worth €144,000 were recorded.
From the hospitality segment, International Hotel Investments plc (IHI) shares gained 2.3%. This gain was supported by higher trading activity, as 18 transactions worth nearly €50,000 were recorded. The equity closed the month at €0.44.
Simond Farsons Cisk plc shares shed 5.6%, as the share price moved between a monthly high of €5.50 and a low of €5.10, the month’s closing price. Turnover doubled to €121,000 across 18 transactions.
In the property sector, Hili Properties plc shares gained 2.6% to return to the €0.24 level. A total of 26 transactions worth €0.3m were recorded, up from €11,200 in December, as Hili Ventures Limited acquired more shares in Hili Properties plc.
Midi plc shares traded in negative territory, as the equity shed 3% to close at €0.19, following a 15% gain in December. Five trades of 69,424 shares were recorded, as the equity traded at a monthly low of €0.102.
Despite the positive financial results announced in recent weeks, Malta Post plc kicked off the year on a negative note with an 11.8% decline to close the month at €0.45. Nineteen transactions of 263,798 shares were executed.
Company Announcements
HSBC Bank Malta plc announced that, following the receipt of all necessary regulatory approvals, the Company exercised the early repayment option on its €30m loan agreement with HSBC Continental Europe. The loan was redeemed in full on January 30, 2026, while all other loan facilities previously disclosed remain unchanged and in force.
Malta International Airport plc reported the full-year passenger traffic of 10.1m in 2025, up 12.3% year-on-year, with December traffic increasing 19.9% to 709,352 movements. The Company issued the 2026 guidance targeting 10.5m passengers, €162m in revenue and €51m in net profit. In addition, the Company announced that the share buy-back programme has been suspended and will resume on the business day following the publication of its next annual financial results.
IHI announced that it has reached an agreement to acquire a minority interest in a joint venture that will own the five-star Corinthia Hotel in Lisbon. Upon completion, the Group will hold a 28% stake, while Corinthia Hotels Limited will continue to manage the property. The transaction, which is expected to close in the first half of 2026, values the asset above its current book value.
In addition,through its subsidiary Corinthia Hotels Limited, the Company has entered into an agreement to manage a new luxury resort development in Lake Como, Italy. The 58-key Corinthia Lake Como will be the brand’s second property in Italy and will form part of an integrated resort overlooking Lake Como, developed in partnership with RoundShield, with construction expected to commence following final planning approvals and operations targeted for late 2028.
Hili Properties plc announced that it received a notification of major holdings from Hili Ventures Ltd, confirming an increase in its shareholding from 89.96% to 90.1% following the acquisition of 571,360 ordinary shares. As a result, Hili Ventures Ltd now holds 361.2m shares, representing 90.1% of the Company’s voting rights.
M&Z plc stated that it will extend its share buy-back programme, authorising the repurchase of up to a further 0.5m shares between January and March 2026, subject to price limits. Following earlier purchases, the Company currently holds 750,000 shares in treasury, representing 1.7% of the issued share capital.
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 at 67, Level 3, South Street, Valletta, or on Tel: 21224410, or email info@jesmondmizzi.com
