Daily Market Highlights (05.09.2023)

Sharp movements across low volumes


The MSE Equity Price Index declined by 0.32% to 3,726.858 points as the declines in MIA, APS, Lombard, Farsons, and Trident outweighed the gain in FIMBank. Meanwhile, Bank of Valletta plc held the €1.26 level on one deal of 6,579 shares as trading activity was subdued across all equities. Download today’s Equity Market Summary.

Lombard Bank Malta plc was today’s worst performer as it slumped by 9.6% to a nine-month low of €0.75, albeit on a single trade of 1,865 shares.

Also in the banking sector, APS Bank plc shed 1.6% to the €0.60 level across three trades totalling 5,348 shares.

Simonds Farsons Cisk plc declined by 7% to an over one-year low at the €6.60 level over three deals totalling 378 shares.

Trident Estates plc moved 7.4% lower to a one-month low of €1.25, over trivial volumes. Trident is set to report its interim results for the six-month period ended 31 July 2023 on Wednesday 13 September 2023.

Malta International Airport plc eased by 0.9% to the €5.70 level on a single trade of 800 shares.

FIMBank plc extended its recent positive streak as it surged by 22.7% to an over one-year high of USD0.27 on one deal of 11,832 shares. Last Thursday, FIMBank published its interim results for the six-month period ended 30 June 2023. Net interest income surged by 30% to just under USD18.2 million as the growth in gross interest income outweighed the higher interest expense.  Similarly, non-interest income grew by almost 25% to USD9.62 million. Overall, the net profit for the period amounted to USD3.74 million. As at 30 June 2023, total equity amounted to USD199.2 million, which translates into a net asset value per share of USD0.382.

The RF MGS Index decreased by 0.07% to 868.949 points. Data published today showed that in the Euro Area manufacturing and services activities contracted more than expected to the lowest level since November 2020. Services contracted for the first time this year and experienced the largest decline in over two years. In particular, the data of Spain registered a strong deviation between preliminary estimates of an expansion and the actual contraction as published today. Also within the eurozone, producer prices in July declined for the third consequent time at the steepest pace since 2009, as per expectations. The decline was principally attributed to base effects of the comparable period which happened just after Russia’s invasion of Ukraine.


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.