Daily Market Highlights (05.04.2023)

The MSE Equity Price Index drops to 2-week low


The MSE Equity Price Index eased by 0.04% to the lowest level in two weeks at 3,530.679 points reflecting the declines in Malta Properties Company and BMIT. Meanwhile, five other equities closed unchanged as overall trading activity amounted to €0.09 million. Download today’s Equity Market Summary.

Most of today’s trading took place in the shares of HSBC Bank Malta plc as the equity traded flat at the €1.02 level across ten deals totalling 70,000 shares.

Similarly, Bank of Valletta plc traded unchanged at the €0.90 level on five trades totalling 18,500 shares.

GO plc held the €2.84 level on one deal of 192 shares. GO shareholders as at close of trading today will be entitled to a final net dividend of €0.09 per share, subject to shareholder approval at the upcoming Annual General Meeting scheduled for 11 May 2023.

PG plc maintained the €1.96 level as 505 shares exchanged hands.

One trade of 800 shares left the share price of Malita Investments plc at the €0.62 level.

Malta Properties Company plc was today’s worst performing equity as it shed 2.3% to a 3-month low of €0.42 on muted volumes. MPC shareholders as at close of trading on 13 April 2023 will be entitled to a final net dividend of €0.013 per share, subject to shareholder approval at the upcoming Annual General Meeting scheduled for 17 May 2023.

BMIT Technologies plc shed 0.4% to the €0.458 level across two deals totalling 4,348 shares. Today, BMIT started trading ex-dividend. The net dividend of €0.0246 per share will be paid on 12 May 2023 subject to shareholder approval at the upcoming Annual General Meeting scheduled for 10 May 2023.

Today, Plaza Centres plc announced that its Board of Directors is scheduled to meet on Wednesday 26 April 2023 to consider and approve the financial statements for the year ended 31 December 2022.

Yesterday, LifeStar Insurance plc published their financial results for 2022. The Group’s balance on the long-term business of insurance technical account declined significantly to a negative €3.54 million compared to a negative €0.34 million in 2021. Furthermore, LifeStar Insurance incurred a net investment loss of €1.77 million in contrast to the profit of €0.40 million in the prior year. The financial performance was also impacted by higher expenses totalling €2.13 million compared to €1.41 million in 2021. Overall, LifeStar Insurance registered a pre-tax loss of €5.40 million (2021: pre-tax profit of €0.65 million). After accounting for a tax credit of €2.25 million, the net loss for the year amounted to €3.15 million.

The RF MGS Index remained relatively unchanged at 884.368 points as the declines in the longer-term MGS were outweighed by the gains in shorter-term MGS, resulting into a steeper yield curve. Over the past days, yields across the eurozone were very volatile as inflation concerns following the announcement that OPEC+ members will be reducing oil production were offset by underwhelming US labour market figures. In fact, the 10-year German Bund yield shifted from a high of 2.35% yesterday to below 2.20% today. Meanwhile, data published today showed that German factory orders in February exceeded forecasts as they increased by 4.8% month-over-month. Similarly, the French Industrial Production data for February was also above expectations.


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.