Daily Market Highlights (06.10.2022)

Treasury announces new MGS prices


The MSE Equity Price Index snapped a four-day positive streak as it eased by 0.07% to 3,653.869 points. The declines in the share prices of APS, HSBC and MPC outweighed the gain in GO whilst BOV closed the day unchanged. Overall trading activity in equities contracted to €0.07 million compared to €0.11 million yesterday. Download today’s Equity Market Summary.

Today, the Treasury Department established the prices for the two new Malta Government Stocks as follows: (i) the 3.40% MGS 2027 (VI) at 101.25% for every €100 nominal giving a yield-to-maturity of 3.124% per annum and (ii) the 4.00% MGS 2032 (VII) at 100.00% for every €100 nominal giving a yield-to-maturity of 4.000% per annum. The total aggregate amount is of €200 million subject to an over-allotment option of up to a further €100 million. The General Public has the possibility of applying in any of these issues in multiples of €100 and up to a maximum amount of €100,000 (nominal) per person. Subscriptions for the General Public open on Monday 10 October and close on Wednesday 12 October or earlier in the case of over-subscription.

Bank of Valletta plc was the most actively traded equity today as it held on to the €0.90 level after opening at a low of €0.88 (-2.2%). A total of 56,058 shares changed hands.

Within the same sector, HSBC Bank Malta plc eased by 0.7% to the €0.74 level on a single deal of 3,000 shares.

APS Bank plc retracted by 0.8% to the €0.635 level albeit on muted activity.

Malta Properties Company plc dropped by 6% to the €0.498 level on trivial volumes.

In contrast, GO plc advanced by 1.4% to recapture the €3.00 level after failing to hold on to an intraday high of €3.08 (+4.1%). A total of 5,350 shares traded.

The RF MGS Index fell nearly 1% to a fresh all-time low of 874.162 points. Sovereign bond yields in the euro area extended yesterday’s gains with the 10-year German Bund yield climbing to the 2.10% level. Today, the ECB published the minutes of its most recent monetary policy meeting which showed increased concerns that inflation will remain high in the coming months. Meanwhile, the IMF warned that it may downgrade further its economic forecasts reflecting the negative impact of inflation on real incomes and consumer confidence.


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.