Daily Market Highlights (06.06.2023)

MSE Equity Price Index snaps six-day win streak


The MSE Equity Price Index decreased by 0.13% to 3760.319 points as the declines in BOV, APS and MaltaPost outweighed the gains in Farsons and VBL. Meanwhile three other equities closed unchanged as the total trading activity was muted at €0.08 million. Download today’s Equity Market Summary.

Bank of Valletta plc failed to hold onto yesterday’s four-year high as it fell by 0.8% to the €1.23 level across nine trades totalling 48,002 shares. BOV recovered from an intra-day low of €1.22 (-1.6%) during the trading day.

Also in the banking sector APS Bank plc shed 0.8% to the €0.61 level over three deals totalling 3,251 shares.

MaltaPost plc was today’s worst performing equity as it slumped by 6.7% to an over 10-year low of €0.42 on a single trade of 750 shares.

On the other hand, Simonds Farsons Cisk gained 1.4% to reach a 4-month high at the €7.25 level across three deals totalling 345 shares.

VBL plc closed 1.9% higher at the €0.21 level on muted activity.

HSBC Bank Malta plc closed unchanged at the €1.23 level across two trades totalling 3,100 shares. Throughout the day, HSBC Malta recovered 1.6% from its intra-day low of €1.21.

Malta International Airport plc, another large market cap equity, held the €5.60 level over two deals totalling 1,053 shares.

GO plc traded flat at the €3.00 level across three trades totalling 1,005 shares.

On 05 June 2023, MedservRegis plc published an Interim Report providing an overview of the company’s performance during the first three months of 2023. MedservRegis’s Q1 revenues surged by over 21% to €14.9 million compared to €12.3 million in Q1 2022. The boost was mostly derived from the improvement of the OCTG segment in the Middle East and the Sub-Saharan business units. In fact, OCTG revenues grew by 50% to €6.6 million (Q1 2022: €4.4 million) whilst revenue recorded by ILSS increased by 5.1% to €8.2 million (Q1 2022: €7.8 million) In view of the notable increase in business, EBITDA in Q1 2023 increased by 15% to €2.3 million compared to €2 million in the first three months of 2022. However, the EBITDA margin declined to 15.5% from 16.3% in Q1 2022 owing to slow activity in the ILSS segment in Cyprus and Egypt.

The RF MGS Index increased by 0.09% to 876.403 points. In Germany, month over month factory orders decreased by 0.4%, substantially differing from a predicted 3% increase. The downturn mostly arose from a 34% decline in miscellaneous vehicle orders as well as 6.2% reduced demand for machinery.  In the Euro Area, April year-on-year retail sales fell by 2.6%. This was 0.5% less than the expected 3.1% as the rise in online trade was offset by declines in food, tobacco, and fuel sales. Meanwhile in the UK, YoY retail sales growth was the slowest in seven months in May 2023 as it rose by 3.7% slowing down from 5.2% in April.


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.