Daily Market Highlights (05.06.2023)

BOV reaches a new 4-year high


The MSE Equity Price Index gained 0.05% to a fresh 11-month high of 3,765.081 points as the gains in BOV, MIA and BMIT outweighed the declines in APS, HSBC, and the preference shares of RS2. Meanwhile, three other equities closed the session unchanged as total trading activity amounted to €0.11 million. Download today’s Equity Market Summary.

Bank of Valletta plc climbed by a further 0.8% to a four-year high of €1.24 after rebounding from an intraday low of €1.21 (-1.6%) across volumes totalling 39,601 shares.

Also among the large companies by market value, Malta International Airport plc advanced by 0.9% to the €5.60 level on a single trade of 1,390 shares.

BMIT Technologies plc was today’s best performing equity as it rose by 1.4% to the €0.43 level on one deal of 5,000 shares.

In contrast, HSBC Bank Malta plc dropped 1.6% to the €1.23 level after partially recovering from an intra-day low of €1.22 (-2.4%) across two deals totalling 13,812 shares.

Also in the banking sector, APS Bank plc shed 0.8% to the €0.615 level across two trades totalling 5,135 shares.

The preference shares of RS2 Software plc slumped by 4.7% to a three-week low of €1.43 across two deals totalling 17,499 shares.

Hili Properties plc closed unchanged at the €0.226 level on a single trade totalling 21,280 shares.

PG plc and Malta Properties Company plc held the €1.92 and €0.40 levels respectively on muted activity.

The RF MGS Index decreased by 0.47% to 875.594 points. Data published today showed that eurozone manufacturing activity remained in expansionary territory, albeit the level of growth witnessed in May was lower than the previous month. Furthermore, the Euro Area producer price inflation fell sharply to the 1% level in April, well below the 5.5% level in the previous month. Today, ECB President Christine Lagarde stated that the effects of the past interest rate hikes were starting to materialise and were likely to be more evident in the coming years. Nonetheless, she commented that although inflation is showing some signs of moderation, there is no clear evidence that underlying inflation has peaked.

Today, Mediterranean Investments Holding plc published a Prospectus following regulatory approval for the admissibility to listing on the Official List of the Malta Stock Exchange of €20 million 5.85% unsecured and guaranteed bonds maturing in 2028. The bonds are principally earmarked for subscription by holders of the maturing 5.50% MIH plc 2023 bonds. Any remaining amounts not subscribed for through the exchange offer will first be made available for subscriptions by: (i) maturing bondholders for any additional amounts applied for other than through the exchange offer; and (ii) holders of the 5.25% MIH plc 2027 unsecured bonds as at 30 May 2023, without priority or preference between either of them. Any remaining balance will be offered for subscription by Authorised Financial Intermediaries through Placement Agreements. The offer period closes on 7 July 2023.



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.