Daily Market Highlights (02.03.2022)

MSE Equity Price Index rebounds from 15-month low


The MSE Equity Price Index rebounded by 0.06% from its 15-month low of 3,660.171 points to 3,662.478 points as the gains in BMIT, Malita and FIMBank outweighed the declines in several other companies. Meanwhile, Bank of Valletta plc remained at the €0.785 level on two deals totalling 10,000 shares. Overall trading activity in equities remained subdued at only €0.06 million. Download today’s Equity Market Summary.

Malita Investments plc (18,750 shares) and FIMBank plc (11,500 shares) surged by 5.3% to €0.79 level and USD0.28 respectively.

The other positive performing equity today was BMIT Technologies plc with an uplift of 1.2% to recapture the €0.49 level across 20,000 shares.

HSBC Bank Malta plc ended today’s trading session 0.6% lower at the €0.89 level as 21,615 shares changed hands.

Hili Properties plc extended yesterday’s decline as it dropped by a further 3.1% back to the €0.25 level on a single deal totalling 4,000 shares.

Also in the property segment, Main Street Complex plc lost 4.3% to the €0.45 level across 2,000 shares.

VBL plc eased by 0.8% to the €0.252 level albeit on trivial activity.

Grand Harbour Marina plc lost 0.8% to a six-month low of €0.62 on just 2,000 shares.

A single deal of 1,000 shares forced the share price of MaltaPost plc to move 0.8% lower to the €1.18 level.

The RF MGS Index extended its recent positive trend as it surged by 1.4% to a one-month high of 1,047.246 points. Yesterday, ECB Governing Council member Olli Rehn opined that despite the relatively strong economic recovery and favourable employment dynamics, the central bank should wait before reversing its ultra-loose monetary policy. Rehn noted that the ECB should first assess the effects of the current war in Ukraine before deciding on its next monetary policy maneuvers. In contrast, during his address to the Financial Services Committee, Federal Reserve Chairman Jerome Powell stated that although the Russian invasion in Ukraine has made the outlook “highly uncertain” for policy makers, the central bank will proceed with its plans to raise interest rates this month in order to stabilise inflation. Powell added that the Federal Reserve will use its “policy tools as appropriate to prevent higher inflation from becoming entrenched”.


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.