MSE Equity Price Index moves above 3,600 points

The MSE Equity Price Index climbed a further 0.14% to a one-month high of 3,600.704 points reflecting the gains across five equities which outweighed the declines of the ordinary shares of RS2 and BMIT. Meanwhile, Mapfre and MaltaPost traded unchanged as total trading activity amounted to €0.28 million. Download today’s Equity Market Summary.

Bank of Valletta plc was the most actively traded equity today with the share price increasing by 1.1% to an over 2-week high of €0.93 across eleven trades totalling 94,650 shares.

Also in the retail banking sector, HSBC Bank Malta plc added 1.1% to the €0.94 level across eight deals totalling 91,953 shares. HSBC’s Board of Directors is scheduled to meet on Tuesday 21 February 2023 to consider and approve the 2022 annual financial statements. The Directors will also consider the declaration of a final dividend to be recommended to the Bank’s Annual General Meeting which will be held on Thursday 20 April 2023.

Malta International Airport plc gained 0.9% to the €5.70 level across seven deals totalling 5,818 shares. MIA’s Board of Directors is scheduled to meet on Wednesday 22 February 2023 to consider and approve the financial statements for the financial year ended 31 December 2022. The Directors will also consider the declaration of a dividend.

Malita Investments plc was today’s best performing equity as it surged by 8.3% to the €0.65 level, albeit on just one trade of 2,200 shares.

GO plc advanced by 3.6% to the €2.90 level across seven deals totalling 11,278 shares.

In contrast, GO’s data centre and IT services subsidiary – BMIT Technologies plc – fell by 2.2% to the €0.44 level across six trades totalling 40,933 shares.

The ordinary shares of RS2 Software plc plunged by 6.8% to the €1.10 level across four deals totalling 4,906 shares.

One trade of 1,906 shares left the share price of MaltaPost plc at the €1.08 level.

Mapfre Middlesea plc held the €1.50 level on a single deal of 9,909 shares.

Today, APS Bank plc announced that its Board of Directors is scheduled to meet on Thursday 9 March 2023 to consider and approve the financial statements for the financial year ended 31 December 2022. The Directors will also consider the declaration of a dividend, subject to regulatory approval.

The RF MGS Index shed 0.35% to 879.090 points as yields across the eurozone sovereign bond markets remained volatile with the German 10-year bund yield trading at a low of 2.34% and a high of 2.39% during the day. Today, the European Commission published an updated Economic Forecast indicating that growth is expected to be higher than earlier projections while inflation projections have been lowered. Specifically, the euro area is anticipated to grow by 0.9% in 2023 and advance by 1.5% next year. Meanwhile, inflation within the eurozone for this year is forecasted at 5.6% and expected to ease to 2.5% in 2024. Malta’s real GDP is expected to grow by 3.1% in 2023 and a further 3.7% in 2024. Meanwhile, inflation in Malta is projected at 4.3% in 2023 amid the continued pressures in food, transport, and imported goods, while inflation in Malta is expected to ease to 2.4% next year as pressures subside.

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.