FIMBank and APS pull the MSE Equity Price Index lower

The MSE Equity Price Index eased by 0.13% to 3,618.307 points as the negative movement in the share prices of FIMBank and APS outweighed the gains of four other equities. Meanwhile, BOV, HSBC and MPC closed unchanged as total trading activity fell to €0.19 million from €0.78 million yesterday. Download today’s Equity Market Summary.

FIMBank plc was today’s worst performing equity as it plunged by 12% to the USD0.19 level on two trades totalling 46,088 shares.

Also within the banking sector, APS Bank plc erased yesterday’s gain as it fell by 1.6% to the €0.61 level across four deals totalling 16,494 shares.

Bank of Valletta plc was the most actively traded equity for the second consecutive session as 115,795 shares changed hands, having a market value of €0.11 million. Trading activity in BOV shares since the start of 2023 exceeded €2 million.  Today, BOV closed at the €0.94 level after recovering from a low of €0.93 (-1.1%).

HSBC Bank Malta plc traded flat at the €0.93 level on six deals totalling 49,130 shares.

A single trade of 2,000 shares left the share price of Malta Properties Company plc at the €0.46 level.

Lombard Bank plc climbed 3.3% to the €0.95 level on one deal of 14,757 shares.

BMIT Technologies plc advanced by 2.3% to the €0.45 level across 8,000 shares.

Malta International Airport plc gained 0.9% to the €5.70 level on muted volumes.

One deal of 1,000 shares pushed the share price of MIDI plc 3.7% higher to the €0.28 level.

Today, MedservRegis plc announced that it has been awarded a contract by a major international oil company for the provision of integrated logistics services related to exploration activities taking place offshore Morocco. The contract term is for nine months and includes possible extensions. MedservRegis noted that the contract is not expected to require any significant capital expenditure and fits within the Group’s strategy of broadening its geographical reach.

The RF MGS Index moved slightly lower to 877.803 points as eurozone yields continued to rise with the German 10-year bund yield touching a two-month high of 2.51%. In the US, producer prices rose by an annualised rate of 6.0% in January, above expectations of a 5.4% increase. However, the figure also marks the seventh consecutive decline since the record of 11.3% in June 2022.

Today, the Central Bank of Malta published its economic forecast to 2025. Malta’s GDP growth is expected at 3.7% in 2023 and moderate to 3.5% by 2025. In terms of inflation, the CBM is expecting the Harmonised Index of Consumer Prices to stand at 4.5% in 2023 but projected to ease further to 2.1% by 2025. The general government debt is expected to increase during the period and stabilise at around 58% of GDP by 2025.

The Treasury is expected to announce the prices of two new Malta Government Stocks this afternoon.

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.