Daily Market Highlights (06.06.2022)

Trading in Farsons shares takes centre-stage


The MSE Equity Price Index erased last Friday’s gains as it dropped by 1.7% to 3,718.688 points as five equities traded in negative territory while IHI, Tigné Mall and Trident closed unchanged. Overall trading activity in equities improved to €0.19 million from the previous session’s €0.03 million. Download today’s Equity Market Summary.

Most of today’s trading involved the shares of Simonds Farsons Cisk plc which slid by 13.6% to the €7.65 level (equivalent to €9.18 per-bonus share issue) after partially recovering from an intraday low of €7.00 (-20.9%). A total of 20,564 shares changed hands having a market value of €0.14 million.

Also among the large companies by market value, HSBC Bank Malta plc dropped by 4.5% to the €0.75 level across three trades totalling 16,046 shares.

Bank of Valletta plc eased by 1.7% to the €0.87 level on nine deals totalling 21,905 shares.

GO plc lost 1.3% to the €3.16 level, albeit on trivial volumes.

In the property sector, Malta Properties Company plc shed 1% to the €0.515 level on a single trade of 890 shares. Last Saturday, MPC published the Final Terms of Tranche 1 of its Bond Issuance Programme. The €25 million 4% secured bonds 2032 are primarily earmarked for refinancing existing bank loans and capital expenditure related to the completion of the Zejtun Offices and Data Centre project. The entire amount of €25 million has been reserved for subscriptions by Authorised Financial Intermediaries through placement agreements and are expected to be listed on the Official List of the Malta Stock Exchange on 7 July 2022.

Tigné Mall plc (2,911 shares) and Trident Estates plc (2,726 shares) closed unchanged at €0.70 and €1.33 respectively.

International Hotel Investments plc traded flat at the €0.73 level across 10,000 shares. IHI is holding its Annual General Meeting on Thursday 9 June 2022.

The RF MGS Index extended its downward trajectory for the seventh consecutive session as it lost a further 0.18% to an all-time low of 964.974 points. The German 10-year bund reached 1.3% for the first time since June 2014 amid anticipation that the ECB will start raising its interest rates in the coming weeks. Oil prices also extended recent gains and traded close to the USD120 per barrel level as Saudi Arabia announced a sharp increase in prices.


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.