Daily Market Highlights (06.09.2023)

BOV dominates trading activity


The MSE Equity Price Index eased by 0.06% to 3,724.728 points as the gain in Lombard was offset by declines in Malita, MPC and PG. Meanwhile, four other equities closed unchanged as overall trading activity amounted to €0.09 million. Download today’s Equity Market Summary.

Most of today’s traded value in equities was across the shares of Bank of Valletta plc. BOV closed unchanged at the €1.26 level in a volatile session after opening at a high of €1.28 and recovering from a low of €1.24. A total of 61,926 shares changed hands.

Also among the large companies by market value, Malta International Airport plc closed unchanged at the €5.70 level across three deals totalling 470 shares.

BMIT Technologies plc traded flat at the €0.41 level on three deals totalling 3,750 shares. On Monday, BMIT issued a Shareholder Circular in relation to the proposed transaction 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 used for hosting telecommunications equipment. The transaction is being proposed for approval in the forthcoming Extraordinary General Meeting scheduled to be held on Monday 25 September 2023. BMIT shareholders as at close of trading on Wednesday 23 August 2023 are entitled to attend and vote at the EGM.

Lombard Bank Malta plc recovered some of yesterday’s losses as it advanced by 1.3% to the €0.76 level.

A single trade of 3,000 shares pulled the share price of Malita Investments plc 3.2% lower to the €0.60 level.

Likewise, PG plc shed 1% to the €2.04 level on a single trade of 2,200 shares.

Malta Properties Company plc moved 1.5% lower to the €0.394 level on muted activity.

The RF MGS Index dropped by 0.35% to 865.926 points as eurozone sovereign bond yields extended gains as inflation concerns resurfaced. In particular, over the past days oil prices reached the highest levels for the year of just under USD90 per barrel as major producers Saudi Arabia and Russia extended their voluntary supply cuts to the end of the year. Meanwhile, eurozone retail sales dropped in July when compared to the previous month and also marked the tenth consecutive monthly contraction on a yearly basis.


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.