Daily Market Highlights (01.11.2022)

MSE Equity Price Index moves lower


The MSE Equity Price Index shed 0.62% to 3,643.532 points as the declines in APS, HSBC and IHI outweighed the gains in BOV and MPC. Meanwhile, GO and Lombard closed unchanged. Download today’s Equity Market Summary.

HSBC Bank Malta plc eased by 0.6% to the €0.765 level on a single trade of 6,260 shares.

Also in the retail banking sector, APS Bank plc moved 2.4% lower to the €0.61 level across five deals totalling 4,345 shares.

International Hotel Investments plc was the worst performing equity today as it tumbled 5.3% to the €0.71 level, albeit on low volumes totalling 2,200 shares.

In contrast, Malta Properties Company plc surged by 5.4% to the €0.525 level across four deals totalling 34,983 shares. Last Friday, MPC published a Quarterly Update covering the nine-month period ended 30 September 2022 compared to the same period in 2021. Revenue surged by 11.3% to €3.04 million (Jan-Sep 2021: €2.73 million) reflecting the initial income from the Zejtun property and contributions from the MIB Buidling in Ta’ Xbiex which was acquired earlier this year. The Zejtun property is expected to be fully handed over to its tenant GO plc by the end of 2022. MPC improved its operating profit by 19.3% to €2.21 million (Jan-Sep 2021: €1.85 million), which in turn translates into a higher EBIT margin of 72.6% compared to 67.7% in the same period last year. However, in view of lower fair value gains as well as deferred tax related to the acquisition of the Ta’ Xbiex property, MPC registered a net profit for the period of €1.28 million, which is lower than the €2.56 million figure of last year.

Bank of Valletta plc moved 0.6% higher to the €0.905 level as 17,500 shares changed hands.

A single trade of 1,000 shares left Lombard Bank Malta plc at €1.96 level. Lombard is holding an Extraordinary General Meeting on Thursday 10 November ahead of a new equity raise of circa €50 million.

GO plc remained at the €2.96 level on trivial volumes.

The RF MGS Index erased some of yesterday’s losses as it rebound by 0.28% to 889.775 points. Eurozone sovereign bond yields remained volatile amid speculation that the ECB might reduce the magnitude of rate hikes at its next meeting. Meanwhile in the US, factory activity and job openings increased above expectations, confirming the resilience of the labour market despite the Fed’s recent aggressive rate hikes.


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.