Daily Market Highlights (01.09.2022)

MSE Equity Price Index trends lower on light volumes


The MSE Equity Price Index eased by 0.22% to 3,606.998 points as the sharp drop in the share price of LifeStar Insurance outweighed the gains in BOV and Main Street Complex. Meanwhile, six other equities closed the day unchanged as overall trading activity contracted to €0.07 million compared to €0.41 million yesterday. Download today’s Equity Market Summary.

APS Bank plc was the most actively traded equity today as it remained at the €0.64 level across nine deals totalling 69,453 shares.

A single deal of 1,314 shares left the share price of GO plc at the €3.04 level.

Also among the large companies by market value, Malta International Airport plc stayed at the €5.90 level albeit on lacklustre volumes.

The ordinary shares of RS2 Software plc held on to the €1.37 level after opening at a low of €1.35 (-1.5%). A total of 550 shares changed hands.

Simonds Farsons Cisk plc remained at the €7.75 level on shallow volumes.

Hili Properties plc closed flat at the €0.24 level after opening at a low of €0.20 (-16.7%). A total of 40,500 shares traded. On Tuesday, Hili Properties published its interim financial statements showing a marked increase in revenues and EBITDA largely reflecting the initial contributions from the recently acquired properties located in Lithuania and Latvia. In their commentary, the Directors noted that despite the prevailing global macroeconomic challenges, Hili Properties continues to own a solid portfolio of real assets which provide strong cash flows. Indeed, the company remains committed to the execution of its strategy and grow its portfolio of assets responsibly and sustainably.

LifeStar Insurance plc plunged over 50% to an all-time low of €0.20 albeit on trivial volumes. On Monday, LifeStar Insurance reported a net loss of €4.53 million for the first half of the current financial year.

Low trading activity also took place in the shares of Main Street Complex plc which rebounded by 15% to recapture the €0.46 level.

Bank of Valletta plc advanced by 1.2% to the €0.87 level on a total of 12,500 shares.

The RF MGS Index shed 0.74% to a new all-time low of 914.112 points reflecting the continued upward movement in eurozone sovereign bond yields amid expectations of more aggressive interest rate hikes by major central banks. Indeed, as the unemployment rate across the single currency block reached a record low of 6.6% in July, financial commentators are largely anticipating the ECB to hike its key interest rate by 75 basis points during the upcoming monetary policy meeting to be held next week.


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.