Daily Market Highlights (03.02.2023)

BOV, HSBC & Mapfre push the MSE Equity Price Index higher


The MSE Equity Price Index advanced by 0.40% to 3,565.195 points as the gains in BOV, HSBC and Mapfre Middlesea outweighed declines in GO and Malita. Meanwhile, five other equities closed unchanged as overall trading activity amounted to €0.26 million. Download today’s Equity Market Summary.

Bank of Valletta plc was today’s most actively traded equity as it climbed by 2.3% to the €0.90 level across thirteen trades totalling 137,500 shares, having a market value of €0.12 million.

BOV’s insurance associate – Mapfre Middlesea plc – rose by 1.4% to the €1.50 level on five deals totalling 1,380 shares. Today, Mapfre Middlesea announced that its Board of Directors is scheduled to meet on Wednesday 22 March 2023 to consider and approve the annual financial results for the financial year ended 31 December 2022. The Directors will also consider the recommendation of a dividend.

HSBC Bank Malta plc extended its positive streak as it advanced by a further 2.3% to a new 10-month high of €0.90 across volumes totalling 48,752 shares. Today, HSBC announced that its Board of Directors is scheduled to meet on Tuesday 21 February 2023 to consider and approve the financial statements for the financial year ended 31 December 2022. The Directors will also consider the declaration of a final dividend to be recommended to the Bank’s Annual General Meeting which will be held on Thursday 20 April 2023.

In contrast, GO plc slipped by 1.4% to the €2.72 level across two trades totalling 1,100 shares.

Malita Investments plc was today’s worst performing equity as it shed 3.2% to the €0.60 level as 120,000 shares changed hands.

A single deal of 1,127 shares left the price of Malta Properties Company plc at the €0.46 level.

AX Real Estate plc held the €0.53 level on a single trade of 1,666 shares.

Also in the property sector, MIDI plc remained at the €0.27 level on one deal of 39,350 shares.

MaltaPost plc traded flat the €1.08 level across two deals totalling 7,004 shares.

APS Bank plc retained the €0.60 level on muted volumes.

The RF MGS Index gained 1% to 982.386 points as eurozone yields declined yesterday despite the rate hike by the ECB and the statement confirming another 50 basis point rate hike in March. However, yields surged this afternoon following the publication of a US jobs report highlighting the strength of the US labour market with the unemployment rate reaching a 53-year low of 3.4%. As the Federal Reserve continues its efforts to cool the economy through policy tightening measures, the resilience of the labour market resurfaced concerns of a harsher policy stance in the months ahead. Meanwhile, within the Euro Area, the Producer Price Index eased to 24.6% year-on-year for December 2022, the lowest since November 2021 but higher than the forecasted figure of 22.5%.

Today, GPH Malta Finance plc published a Prospectus following regulatory approval for the admissibility to listing on the Official List of the Malta Stock Exchange of €25 million 6.25% unsecured bonds maturing in 2030. The Issuer is a special purpose vehicle and acts as the financing arm of the Guarantor, Global Ports Holding plc, which is regarded as the world’s largest independent cruise port operator, with an established presence in the Caribbean, Mediterranean and Asia-Pacific regions. The bonds are subject to a Suitability Assessment. Accordingly, they are only suitable for investors who have the knowledge and experience to understand the risks that are specifically related to this type of financial instrument. The offer period is open until 3 March 2023 or earlier as may be determined by the Issuer.



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.