Daily Market Highlights (06.04.2023)

MIA, HSBC and BMIT drag the MSE Equity Price Index lower


The MSE Equity Price Index fell by a further 0.2% to a three-month low of 3,523.650 points as the declines in MIA, HSBC and BMIT outweighed the gains in IHI and MaltaPost. Meanwhile, BOV, FIMBank and Mapfre Middlesea remained unchanged as total trading activity amounted to €0.12 million. Trading on the Malta Stock Exchange will resume on Tuesday 11 April. Download today’s Equity Market Summary.

Malta International Airport plc eased by 0.9% to the €5.65 level on two deals totalling 1,400 shares.

Also amongst the largest equities by market value, HSBC Bank Malta plc slipped 2.0% lower to the €1.00 level as 30,122 shares exchanged hands.

BMIT Technologies plc shed 3.9% to a 1-month low of €0.44 across four trades totalling 37,595 shares. Today, BMIT Technologies plc announced that it is in discussions with GO plc for the potential assignment and transfer of certain lease rights and obligations currently enjoyed by GO as well as the passive infrastructure thereon used for hosting telecommunications equipment. BMIT explained that negotiations are still ongoing and are subject to a number of variables, thus the company will keep the market updated with any significant developments.

Elsewhere, MaltaPost plc climbed 2.2% to the €0.46 level on one deal of 2,000 shares.

A single trade of 1,750 shares pushed the share price of International Hotel Investments plc up by 1.8% to the €0.58 level. Last week, IHI announced that it has signed a Memorandum of Understanding (‘MoU’) with Saudi Arabia’s Jeddah Central Development Company (JCDC). The MoU will establish a framework for Corinthia Hotels and its sister company QPM Limited, to develop and operate assets within the Marina District, which is part of the Jeddah Central 9.5 km waterfront on the Red Sea.

Bank of Valletta plc was today’s most actively traded equity as it closed unchanged at the €0.90 level after the share price rebounded from an intraday low of €0.885 (-1.7%) across seven deals of 67,580 shares.

Mapfre Middlesea plc traded flat at the €1.64 level across two trades totalling 1,182 shares.

FIMBank plc held the USD0.19 level on trivial volumes.

Today, MIDI plc announced that its Board of Directors is scheduled to meet on Tuesday 25 April 2023 to consider and approve the financial statements for the year ended 31 December 2022. The Directors will also consider the declaration of a dividend.

The RF MGS Index posted a three-day winning streak as it advanced by 0.37% to 887.664 points reflecting the higher bid prices for medium-term and longer-term MGS. Yields across the eurozone remained volatile as investors continue to seek safe assets amid recession fears. Data published yesterday showed that the US private sector hiring rose by 145,000 posts in March, well below the 261,000 jobs added in February and the forecasted increase of 210,000 jobs. The data also highlighted challenges within the financial services sector as 51,000 jobs were lost during the month.


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.