Daily Market Highlights (01.07.2022)

The MSE Equity Price Index resurfaces above the 3,700 mark


The MSE Equity Price Index extended yesterday’s gain as it surged by 1.23% to 3,705.176 points. The uplift was principally driven by the strong upward movement in the share price of IHI which coupled with the positive performance of HSBC offset the drop in MIDI. Meanwhile, APS and Malita closed the day unchanged as overall trading activity in equities contracted further to just €0.06 million. Download today’s Equity Market Summary.

A single deal of 23,000 shares lifted the share price of International Hotel Investments plc almost 13% higher to the €0.70 level. Yesterday, IHI published an updated Financial Analysis Summary showing that the Group is expecting to generate an EBITDA of almost €39 million during the current financial year ending 31 December 2022 which would be 44% short of the record EBITDA of just under €70 million recorded in 2019.

Also among the large companies by market value, HSBC Bank Malta plc advanced by 2.6% to the €0.785 level albeit on trivial volumes.

Also in the retail banking sector, APS Bank plc held on to the €0.66 level after opening at a high of €0.665 (+0.8%). A total of 54,025 shares traded.

Malita Investments plc also closed the day unchanged at the €0.725 level across 2,000 shares.

Within the same segment, MIDI plc shed 5.7% back to the €0.33 level on a total of 15,127 shares. On Monday, MIDI published an updated Financial Analysis Summary showing that in 2022, the company is expecting to register a net loss of €2.5 million reflecting the absence of any property sales due to lack of units available for sale.

The RF MGS Index added a further 0.22% to 940.428 points. Weak economic data across developed economies continued to exert more downward pressure on sovereign yields. In fact, the 10-year German Bund yield moved below the 1.3% level for the first time in three weeks. Meanwhile, data published today showed that inflation within the single currency block reached a record of 8.6% in June fuelled by further strong increases in the prices of food and energy.

This afternoon, the Treasury announced the issue of €150 million in new Malta Government Stocks subject to an overallotment option of up to €100 million. The three MGS are: (i) the 2.60% MGS 2028 (V); (ii) the 2.90% MGS 2032 (VI); and (iii) the 3.40% MGS 2042 (I). The fixed offer prices for retail investors will be announced on Monday 7 July in the afternoon. Subscriptions from the General Public of amounts between €100 and €100,000 (in multiples of €100) will open on Monday 11 July and close on Wednesday 13 July.


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.