Daily Market Highlights (06.07.2023)

MSE Equity Price Index climbs to 4-week high


The MSE Equity Price Index gained 0.24% to a four-week high of 3,760.931 points as the gains in BOV, MIA, MaltaPost and the preference shares of RS2 outweighed the declines of HSBC, Lombard and MPC. Meanwhile, four other equities closed unchanged as the total trading activity in local equities amounted to €0.26 million. Download today’s Equity Market Summary.

Bank of Valletta plc was today’s most actively traded equity as it advanced by 1.7% to the €1.21 level after recovering from an intra-day low of €1.17 (-1.7%) as 88,774 shares changed hands.

Also among the large companies by market cap, Malta International Airport plc gained 0.9% to a three-week high at the €5.60 level over four trades totalling 4,259 shares.

The preference shares of RS2 Software plc increased by 0.7% to an eight-week high of €1.44 on two deals totalling 37,690 shares.

MaltaPost plc rebounded by 1% to the €0.42 level across three trades totalling 15,271 shares.

In contrast, a single trade of 6,818 shares pulled the share price of HSBC Bank Malta plc 0.8% lower to the €1.20 level. Yesterday, HSBC announced that its Board of Directors is scheduled to meet on Tuesday 1 August 2023 to consider and approve the interim financial statements for the six-month period ended 30 June 2023. The Directors will also consider the declaration of an interim dividend.

Also in the banking sector, Lombard Bank Malta plc shed 2% to the €0.96 level, albeit on trivial volumes.

Malta Properties Company plc declined by 1% to the €0.396 level across three deals totalling 14,500 shares.

Meanwhile, BMIT Technologies plc (14,200 shares) and its parent company GO plc (12,535 shares) closed unchanged at the €0.42 and €2.98 levels respectively.

Malita Investments plc traded flat at the €0.62 level across three trades totalling 24,194 shares.

APS Bank plc held the €0.6 level on two trades totalling 3,188 shares.

The RF MGS Index posted a three-day negative streak as it eased by a further 0.2% to a fresh six-week low of 865.924 points. Yesterday in the US, the minutes of the latest Federal Reserve monetary policy meeting were published and indicated that more interest rate hikes are to be expected despite last month’s pause. Furthermore, today the resilience of the US labour market continued to be highlighted as the jobs added within the private sector in June were double than expectations.

Today, the Treasury Department established the prices for the two new Malta Government Stocks being offered to Retail Investors as follows: (i) 3.55% MGS 2026 (V) at 100.00% for every €100 nominal giving a yield-to-maturity of 3.5497% per annum; and (ii) 4.00% MGS 2038 (I) at 100.00% for every €100 nominal giving a yield-to-maturity of 3.9997% per annum. The General Public has the possibility of applying for these stocks in multiples of €100 and up to a maximum of €499,900 (nominal) per person. Subscriptions for the General Public open on Monday 10 July 2023 and close on Wednesday 12 July 2023 at 14:30hrs or earlier at the discretion of the Accountant General.


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.