Daily Market Highlights (01.03.2023)

Trading in BOV shares remains predominant


The MSE Equity Price Index remained relatively unchanged at 3,639.025 points as the gains in MaltaPost and BMIT outweighed the decline in MPC. Meanwhile, two other equities closed unchanged as overall trading activity amounted to €0.21 million. Download today’s Equity Market Summary.

Bank of Valletta plc was the most actively traded equity for the third consecutive session as 131,500 shares changed hands, representing more than half of today’s trading value of equities. BOV closed unchanged at the €0.92 level after retreating from an intraday high of €0.93 (+1.1%).

Also amongst the largest equities by market value, Malta International Airport plc traded flat at the €5.85 level on two deals totalling 400 shares. MIA’s Board of Directors is recommending a final net dividend of €0.12 per share to be paid not later than 26 May 2023 to all shareholders as at close of trading on 4 April 2023.

MaltaPost plc was today’s best performing equity as it climbed 5.3% to the €1.00 level across five trades totalling 80,775 shares.

In contrast, Malta Properties Company plc plunged by 6.1% to the €0.46 level, albeit on one deal of 1,684 shares. The Board of Directors of MPC is scheduled to meet on Tuesday 14 March 2023 to consider and approve the financial statements for the year ended 31 December 2022. The Directors will also consider the declaration of a dividend.

BMIT Technologies plc advanced by 1.4% to the €0.446 level across five trades totalling 9,400 shares. BMIT is expected to publish the 2022 financial results on Wednesday 8 March 2023. The Board will also consider the declaration of a final dividend.

Today, GO plc announced that its Board of Directors is scheduled to meet on Wednesday 15 March 2023 to consider and approve the financial statements for the year ended 31 December 2022. The Board will also consider the declaration of a dividend.

The RF MGS Index shed 0.27% to 868.058 points as eurozone yields continue to rise with the German 10-year bund climbing to a new 11-year high of 2.72%. The Chinese factory activity expanded by the fastest pace in over a decade in February, reflecting the strong post-pandemic recovery of the Chinese economy following the removal of the last remaining restrictions in December 2022. Elsewhere in the UK, house prices fell by 0.5% in February and 3.7% below the levels of six months earlier. The drop was largely attributed to harsher financial market conditions.

Today, the Central Bank of Malta released an economic update which showed that in January business activity stood slightly above its long-term average. Business sentiment was positive in the services, retail and construction sectors, but negative in industry and among consumers. In the property sector, the number of promise-of-sale agreements increased when compared to the same period last year while final deeds of sale were lower. The Central Bank also noted that the annual inflation rate declined to 6.8% in January from 7.3% in the previous month.



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.