Daily Market Highlights (06.03.2023)
MSE Equity Price Index climbs for second consecutive session
The MSE Equity Price Index extended last Friday’s rebound as it moved higher by a further 0.66% to 3,629.216 points reflecting the gains in eight equities. MPC and Loqus ended the session lower while two other equities remained unchanged. Download today’s Equity Market Summary.
Simonds Farsons Cisk plc was today’s most actively traded equity as 12,489 shares changed hands having a market value of €0.09 million. The share price of Farsons advanced by 4.3% to recapture the €7.20 level.
Hili Properties plc went up by 1.8% to the €0.228 level after opening at a low of €0.22 (-1.8%) across two deals totalling 51,000 shares.
Also in the property sector, Plaza Centres plc surged by 9% to the €0.73 level after recovering from a low of €0.65 (-3.0%) across three trades totalling 5,910 shares.
A single deal of 10,000 shares pushed the share price of MIDI plc 3.7% higher to the €0.28 level.
Malita Investments plc advanced by 12.5% to the €0.675 level, albeit on trivial volumes.
Malta International Airport plc climbed 0.9% higher to the €5.70 level on three trades totalling 1,020 shares.
BMIT Technologies plc gained 1.4% to the €0.446 level as 1,556 shares exchanged hands. BMIT is expected to publish the 2022 financial results on Wednesday. The Board will also consider the declaration of a final dividend.
PG plc advanced by 2% to the 2.04 level on muted activity.
Bank of Valletta plc closed unchanged at the €0.93 level across eight trades totalling 13,500 shares.
Main Street Complex plc closed unchanged at the €0.46 level after recovering from a six-month low of €0.40 (-13%) across volumes totalling 2,600 shares.
Elsewhere, Malta Properties Company plc fell 2.2% to the €0.45 level after failing to hold to an intraday high of €0.49 (+6.5%) across three trades totalling 6,500 shares.
Loqus Holdings plc plunged 27.3% to the €0.16 level on one deal of 15,500 shares.
The RF MGS Index rose by 0.30% to 869.789 points as eurozone yields opened the week marginally lower after the strong gains registered last week. Today, ECB Governing Council member Mario Centeno stated that this month’s economic forecast will be crucial in the decision-making process for further rate hikes. Such comments followed yesterday’s remarks by ECB President Christine Lagarde that underlying inflation still remained high, adding to the likelihood of the anticipated 50 basis points rate hike later this month. Elsewhere, the Chinese government forecasted a GDP growth target of 5% for this year. This was below expectations, but still higher than the 3% growth registered last year.
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.