Daily Market Highlights (04.12.2023)

Four equities pull the MSE Equity Price Index lower


The MSE Equity Price Index extended Friday’s decline as it fell by 0.89% to 3,681.971 points. The declines in BOV, APS, GO, and IHI outweighed the gains in HSBC and AX Real Estate. Trading activity in local equities was muted as just €0.03 million worth of shares exchanged hands. Download today’s Equity Market Summary.

Bank of Valletta plc dropped by 2.4% to the €1.21 level across three trades totalling 5,806 shares.

Also in the banking sector, APS Bank plc shed 3.4% to the €0.56 level on one deal of 3,544 shares.

A single trade of 3,900 shares pulled the share price of GO plc 2.7% lower to the €2.88 level. Today, GO plc announced that it concluded the transaction with BMIT Technologies plc for a consideration of €46.6 million. Through this acquisition, GO sold Passive Telecoms Assets in respect of 278 sites together with the corresponding maintenance functions, all related agreements (including the Master Service Agreement), and an employee responsible for managing the Passive Tower Rights Portfolio. BMIT and GO also entered into a transitional services agreement through which GO will provide certain support services to BMIT during this initial transition period.

International Hotel Investments plc retracted by 4.1% to the €0.47 level, albeit on lacklustre volumes.

In contrast, AX Real Estate plc was today’s best performing equity as it surged by 7.3% to the €0.515 level across two trades totalling 2,826 shares.

HSBC Bank Malta plc advanced by 0.8% to the €1.24 level across two deals totalling 4,501 shares.

The RF MGS Index rose by 0.50% to a seven-month high of 883.046 points. The continued uplift in MGS bid prices by reflect the downward movement in yields across the Eurozone sovereign bond market. In particular, the German 10-year bund yield hovered around the 2.3% level, the lowest level since late June. Nonetheless, the vice president of the ECB Vice-President Louis de Guindos warned that it is too early to declare victory against inflation despite inflation during November surprisingly decreasing to a multi-year low of 2.4%. In this respect, he cautioned that the decrease in inflation is partly attributable to the high energy prices of a year earlier and also pointed out that employee salary pressures could still translate in a material inflationary impact.


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.