MSE Equity Price Index increases by 11.4% in 2023

The MSE Equity Price Index surged by 2.56% to a two-year high of 3,959.387 points, driven by the uplift in the share price of seven equities. In 2023, the MSE Equity Price Index rebounded strongly as it surged by 11.4% following three consecutive years of declines, largely driven by the gains of BOV and HSBC. Trading on the Malta Stock Exchange resumes on 3 January 2024. Download today’s Equity Market Summary.

Bank of Valletta plc surged by 7.6% to the €1.42 level. BOV today’s most actively traded equity for the second consecutive session as 166,999 shares changed hands having a market value of €0.23 million. In 2023, BOV’s share price increased by 75.3%.

GO plc gained a further 0.7% to a fresh seven-month high of €3.06 across three trades totalling 20,000 shares. The recent upturn in GO’s share price came about following an update on its financial performance for the nine-month period up to 30 September 2023 in its latest Shareholders Newsletter. GO announced that its consolidated revenue reached €178 million during the first nine months of 2023, representing a growth of 11% compared to the same period in 2022. EBITDA also grew by 11% to €69 million.

Also among large companies by market cap, International Hotel Investments plc moved 6.5% higher to an eight-month high of €0.575, albeit on a single trade of 1,000 shares.

A single trade of 1,000 shares pushed the share price of Malita Investments plc 18% higher to a two-month high of €0.59. Yesterday, Malita announced that following the redesignation of its authorised and issued share capital as approved in the Extraordinary General Meeting held on 14 December 2023, the 118,108,064 shares held by the Government of Malta were admitted to the Official List of the Malta Stock Exchange. As a result, the total amount of shares listed on the Official List of the Malta Stock Exchange amounts to 148,108,064.  

Also in the property sector, MIDI plc moved 4.7% higher to a one-year high of €0.31 across three deals totalling 30,000 shares. Today’s volume-weighted average price was at €0.301 (+1.6%).

The ordinary shares of RS2 plc advanced by 7.2% to a two-month high of €1.19 across eleven deals totalling 82,002 shares.

Main Street Complex plc rose by 5.3% to a two-month high of €0.40 on muted activity.

Meanwhile, Malta International Airport plc closed unchanged at the €5.75 level across six deals totalling 3,192 shares.

HSBC Bank Malta plc closed unchanged at the €1.28 level over four trades totalling 32,803 shares. HSBC was the best-performing local equity in 2023 as its share price surged by 80.3%.

Today, VBL plc announced that it raised a total of €295,500 from the subscription of 1,136,538 ordinary shares at a price of €0.26 through a private placement. After the issue and allotment of the new shares, the total amount of outstanding shares in VBL will increase from 248,042,645 shares to 249,179,183 shares.

The RF MGS Index moved 0.24% lower to 907.710 points. In 2023, the RF MGS Index gained 4.99%, albeit movements were very volatile throughout the year. In fact, it registered a fresh all-time low on 19 October 2023 but then rebounded by more than 7.9% in the last 10 weeks of the year as investor sentiment across the international markets shifted to expectations of multiple rate cuts my major central banks in 2024. This was fuelled by low economic growth projections coupled with lower-than-expected inflation readings.

This report contains public information only and is not to be construed as investment advice or an offer to buy or sell any 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.