Daily Market Highlights (05.01.2023)

Continued heightened activity in BOV shares

The MSE Equity Price Index erased some of yesterday’s gains as it fell by 0.78% to 3,600.729 points as the declines of BOV and IHI outweighed the gains of FIMBank and HSBC. Meanwhile, Malta International Airport plc closed unchanged at the €5.60 level as 2,842 shares changed hands. Download today’s Equity Market Summary.

Bank of Valletta plc was the most actively traded equity for the second consecutive session. BOV erased some of yesterday’s gains as it fell by 6.6% to €0.925, having recovered from an intraday low of €0.895 (-9.6%). A total of 138,000 BOV shares were traded having a market value of €0.13 million, representing more than half of the value of equities traded today.

Also among the large companies by market value, International Hotel Investments plc dropped by 5.2% to a 6-month low of €0.64 level on a single trade of 15,350 shares.

HSBC Bank Malta plc extended yesterday’s gains as it climbed by 5.2% to a 7-month high of €0.81, after recovering from a low of €0.765 (-0.6%) across eleven trades totalling 100,000 shares.

FIMBank plc advanced by 13.7% to the USD0.216 on two deals totalling 13,010 shares.

The RF MGS Index snapped a two-day positive streak as it shed 0.14% to 874.346 points. Yesterday in the US, the Federal Reserve released the minutes of December’s monetary policy meeting in which it had raised interest rates by 50 basis points. The minutes showed that the Fed will continue raising rates in 2023 as policymakers believe that a restrictive policy stance is required to tackle high inflation and maintain price stability. Indeed, none of the central bank’s officials anticipated cutting interest rates during 2023. Within the Eurozone, Italy recorded a drop in annual inflation to 11.6% in December, in line with similar inflation declines earlier this week for Germany, France and Spain. The eurozone Producer Price Index for November was also lower than expected.


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.