Daily Market Highlights (02.03.2023)
Heightened activity in BOV and HSBC shares
The MSE Equity Price Index moved up by 0.44% to 3,605.564 points as the gains in BOV, MIA, and Farsons outweighed the decline in APS. Meanwhile, three other equities closed unchanged as overall trading activity amounted to €0.15 million. Download today’s Equity Market Summary.
Bank of Valletta plc was the most actively traded equity for the fifth consecutive session as 75,000 shares changed hands. BOV moved up 1.1% by to the €0.93 level.
Malta International Airport plc climbed 2.7% to the €5.65 level on two trades totalling 1,500 shares.
A single deal of 254 shares pushed the share price of Simonds Farsons Cisk plc 0.7% higher to the €6.90 level.
Notable trading activity took place in HSBC Bank Malta plc as it closed unchanged at the €1.03 level after opening at a low of €1.01 (-1.9%) across five trades totalling 55,178 shares..
BMIT Technologies plc traded flat at the €0.44 level on volumes totalling 10,900 shares.
MIDI plc held the €0.27 level on a single deal of 7,000 shares.
APS Bank plc lost 0.8% to the €0.61 level on one trade of 10,000 shares. APS will publish the results for the 2022 financial year on Thursday 9 March. The Directors will also consider the declaration of a dividend, subject to regulatory approval.
The RF MGS Index moved higher for the first time in five sessions as it advanced by 0.09% to 867.222 points. Nonetheless, the RF MGS Index posted the sharpest weekly loss in ten weeks as it lost 1.35% this week following a surge in eurozone yields. Today, data published by Eurostat showed that producer prices within the eurozone were 15% higher in January 2023 than a year earlier. The figure is sharply lower than the 24.5% increase experienced in the previous month, reflecting declining costs for energy and various goods. Meanwhile in the US, Atlanta Fed President Raphael Bostic stated that he supported moderate interest rate hikes of 25 basis points and anticipated that rate hikes will be paused by the summer period.
Today, the Treasury Department published details with respect to subscriptions from retail investors for the two new Malta Government Stocks. The Treasury received 3,719 applications totalling €87.9 million (nominal) for the 3.50% MGS 2028 (VI) and 2,583 applications totalling €91.3 million (nominal) for the 4.00% MGS 2043 (I). All applications were accepted in full. Listing of these two MGS is expected on Tuesday 7 March and trading will commence on Wednesday 8 March.
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.